Common use of Obligations of Borrower Hereunder Unconditional Clause in Contracts

Obligations of Borrower Hereunder Unconditional. The obligations of the Borrower to make any payments required by the terms of this Loan Agreement and the other Loan Documents, including, without limitation, the payments required in Section 3.2 hereof, and to perform and observe the other agreements on its part contained herein and in the other Loan Documents shall be absolute and unconditional and shall not be subject to any defense (other than payment) or any right of set off, counterclaim, abatement or otherwise and, until such time as the principal of and interest on the Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture. The Borrower (i) will not suspend or discontinue, or permit the suspension or discontinuance of, any payments provided for herein or in the other Loan Documents, (ii) will perform and observe all of its other agreements contained herein and the other Loan Documents and (iii) will not suspend the performance of its obligations hereunder and under the other Loan Documents for any cause including, without limiting the generality of the foregoing, failure to complete rehabilitation and equipping of the Project, any acts or circumstances that may constitute failure of consideration, failure of or a defect of title to the Project or any part thereof, eviction or constructive eviction, destruction of or damage to the Project, commercial frustration of purpose, any change in the tax or other laws or administrative rulings of or administrative actions by the United States of America or the State or any political subdivision of either, or any failure of the Issuer to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or connected with this Loan Agreement or the other Loan Documents. The Borrower may, at its own cost and expense and in its own name or in the name of the Issuer (provided the Issuer is a necessary party and consents thereto), prosecute or defend any action or proceeding or take any other action involving third persons which the Borrower deems reasonably necessary in order to secure or protect its rights hereunder, and in such event the Issuer, subject to the provisions of the Indenture, hereby agrees to cooperate fully with the Borrower and to take all action (at the Borrower’s cost and expense) necessary to effect the substitution of the Borrower for the Issuer in any such action or proceeding if the Borrower shall so request.

Obligations of Borrower Hereunder Unconditional. The obligations of the Borrower to make any payments required by the terms of this Loan Agreement and the other Loan Documents, including, without limitation, the payments required in Section 3.2 hereof, and to perform and observe the other agreements on its part contained herein and in the other Loan Documents shall be absolute and unconditional and shall not be subject to any defense (other than payment) or any right of set off, counterclaim, abatement or otherwise and, until such time as the principal of and interest on the Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture. The Borrower (i) will not suspend or discontinue, or permit the suspension or discontinuance of, any payments provided for herein or in the other Loan Documents, (ii) will perform and observe all of its other agreements contained herein and the other Loan Documents and (iii) will not suspend the performance of its obligations hereunder and under the other Loan Documents for any cause including, without limiting the generality of the foregoing, failure to complete rehabilitation construction and equipping of the Project, any acts or circumstances that may constitute failure of consideration, failure of or a defect of title to the Project or any part thereof, eviction or constructive eviction, destruction of or damage to the Project, commercial frustration of purpose, any change in the tax or other laws or administrative rulings of or administrative actions by the United States of America or the State or any political subdivision of either, or any failure of the Issuer to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or connected with this Loan Agreement or the other Loan Documents. The Borrower may, at its own cost and expense and in its own name or in the name of the Issuer (provided the Issuer is a necessary party and consents thereto), prosecute or defend any action or proceeding or take any other action involving third persons which the Borrower deems reasonably necessary in order to secure or protect its rights hereunder, and in such event the Issuer, subject to the provisions of the Indenture, hereby agrees to cooperate fully with the Borrower and to take all action (at the Borrower’s cost and expense) necessary to effect the substitution of the Borrower for the Issuer in any such action or proceeding if the Borrower shall so request.

Obligations of Borrower Hereunder Unconditional. The obligations of the Borrower to make any the payments required by the terms of this Loan Agreement and the other Loan Documents, including, without limitation, the payments required in Section 3.2 hereof, Note and to perform and observe any and all of the other covenants and agreements on its part contained herein and in shall be general obligations of the other Loan Documents Borrower, shall be absolute and unconditional and shall not be subject to irrespective of any defense (other than payment) or any right rights of set offsetoff, counterclaim, abatement recoupment or counterclaim it may otherwise and, until such time as have against the principal Board or the Trustee or any Holders of and interest on the Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the IndentureBonds. The Borrower agrees that it will not (i) will not suspend suspend, discontinue or discontinue, xxxxx any payment required by this Agreement and the Note or permit the suspension or discontinuance of, any payments provided for herein or in the other Loan Documents, (ii) will perform and fail to observe all any of its other covenants or agreements contained herein and in this Agreement, the other Loan Documents and Note or any Security Instrument, (iii) will not suspend seek judicial or other relief from the performance of its obligations hereunder obligation to make any payment required by, or to perform any covenant in, this Agreement and under the other Loan Documents Note or (iv) except as provided in Section 11.1 hereof, terminate this Agreement for any cause whatsoever including, without limiting the generality of the foregoing, failure to complete rehabilitation and equipping of the Project, failure of the Borrower to use the Project as contemplated in this Agreement or otherwise, any acts defect in the title, design, operation, merchantability, fitness or circumstances that may constitute condition of the Project or in the suitability of the Project for the Borrower's purposes or needs, failure of consideration, failure of or a defect of title to the Project or any part thereof, eviction or constructive eviction, destruction of or damage to the Project, commercial frustration of purpose, or the taking by Condemnation of title to or the use of all or any part of the Project, any change in the tax or other laws or administrative rulings of or administrative actions by the United States of America or of the State or any political subdivision of either, or any failure of the Issuer Board to perform and observe any agreement, whether express expressed or implied, or any duty, liability or obligation arising out of or connected in connection with this Loan Agreement or Agreement. Nothing contained in this Section 5.3 shall be construed to release the other Loan Documents. The Borrower may, at its own cost and expense and in its own name or in Board from the name performance of any of the Issuer (provided the Issuer is a necessary party and consents thereto), prosecute or defend any action or proceeding or take any other action involving third persons which the Borrower deems reasonably necessary agreements on its part contained in order to secure or protect its rights hereunder, and in such event the Issuer, subject to the provisions of the Indenture, hereby agrees to cooperate fully with the Borrower and to take all action (at the Borrower’s cost and expense) necessary to effect the substitution of the Borrower for the Issuer in any such action or proceeding if the Borrower shall so requestthis Agreement.

Obligations of Borrower Hereunder Unconditional. The obligations of the Borrower to make any the payments required by the terms of this Loan Agreement and the other Loan Documents, including, without limitation, the payments required in Section 3.2 hereof, Note and to perform and observe any and all of the other covenants and agreements on its part contained herein and in shall be general obligations of the other Loan Documents Borrower, shall be absolute and unconditional and shall not be subject to irrespective of any defense (other than payment) or any right rights of set offsetoff, counterclaim, abatement recoupment or counterclaim it may otherwise and, until such time as have against the principal Board or the Trustee or any Holders of and interest on the Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the IndentureBonds. The Borrower agrees that it will not (i) will not suspend suspend, discontinue or discontinue, xxxxx any payment required by this Agreement and the Note or permit the suspension or discontinuance of, any payments provided for herein or in the other Loan Documents, (ii) will perform and fail to observe all any of its other covenants or agreements contained herein and in this Agreement, the other Loan Documents and Note or any Security Instruments, (iii) will not suspend seek judicial or other relief from the performance of its obligations hereunder obligation to make any payment required by, or to perform any covenant in, this Agreement and under the other Loan Documents Note or (iv) except as provided in Section 11.1 hereof, terminate this Agreement for any cause whatsoever including, without limiting the generality of the foregoing, failure to complete rehabilitation and equipping of the Project, failure of the Borrower to use the Project as contemplated in this Agreement or otherwise, any acts defect in the title, design, operation, merchantability, fitness or circumstances that may constitute condition of the Project or in the suitability of the Project for the Borrower's purposes or needs, failure of consideration, failure of or a defect of title to the Project or any part thereof, eviction or constructive eviction, destruction of or damage to the Project, commercial frustration of purpose, or the taking by Condemnation of title to or the use of all or any part of the Project, any change in the tax or other laws or administrative rulings of or administrative actions by the United States of America or of the State or any political subdivision of either, or any failure of the Issuer Board to perform and observe any agreement, whether express expressed or implied, or any duty, liability or obligation arising out of or connected in connection with this Loan Agreement or Agreement. Nothing contained in this Section 5.3 shall be construed to release the other Loan Documents. The Borrower may, at its own cost and expense and in its own name or in Board from the name performance of any of the Issuer (provided the Issuer is a necessary party and consents thereto), prosecute or defend any action or proceeding or take any other action involving third persons which the Borrower deems reasonably necessary agreements on its part contained in order to secure or protect its rights hereunder, and in such event the Issuer, subject to the provisions of the Indenture, hereby agrees to cooperate fully with the Borrower and to take all action (at the Borrower’s cost and expense) necessary to effect the substitution of the Borrower for the Issuer in any such action or proceeding if the Borrower shall so requestthis Agreement.