Obligations of Company Hereunder Unconditional. The obligations of the Company to make the payments required in Section 2.6 hereof and to perform and observe any and all of the other covenants and agreements on its part contained herein shall be a general obligation of the Company and shall be absolute and unconditional irrespective of any defense or any rights of setoff, recoupment or counterclaim it may otherwise have against the Agency. The Company agrees it will not (i) suspend, discontinue or xxxxx any payment required by Section 2.6 hereof or (ii) fail to observe any of its other covenants or agreements in this Lease Agreement or (iii) except as provided in Section 8.1 hereof, terminate this Lease Agreement for any cause whatsoever including, without limiting the generality of the foregoing, failure to complete the Facility, any defect in the title, design, operation, merchantability, fitness or condition of the Facility or in the suitability of the Facility for the Company's purposes and needs, failure of consideration, destruction of or damage to the Facility, commercial frustration of purpose, or the taking by Condemnation of title to or the use of all or any part the Facility, any change in the tax or other laws of the United States of America or administrative rulings of or administrative actions by the State or any political subdivision of either, or any failure of the Agency to perform and observe any agreement, whether expressed or implied, or any duty, liability or obligation arising out of or in connection with this Lease Agreement, or otherwise. Subject to the foregoing provisions, nothing contained in this Section 2.7 shall be construed to release the Agency from the performance of any of the agreements on its part contained in this Lease Agreement or to affect the right of the Company to seek reimbursement, and in the event the Agency should fail to perform any such agreement, the Company may institute such separate action against the Agency as the Company may deem necessary to compel performance or recover damages for nonperformance, and the Agency covenants that it will not, subject to the provisions of Section 5.2, take, suffer or permit any action which will adversely affect, or create any defect in its title to the Facility or which will otherwise adversely affect the rights or estates of the Company hereunder, except upon written consent of the Company. None of the foregoing shall relieve the Company of its obligations under Section 5.2 hereof.
Appears in 1 contract
Samples: Lease Agreement (CVC Inc)
Obligations of Company Hereunder Unconditional. The obligations of the Company to make the payments required in Section 2.6 hereof and to perform and observe any and all of the other covenants and agreements on its part contained herein shall be a general obligation of the Company and shall be absolute and unconditional irrespective of any defense or any rights of setoff, recoupment or counterclaim it may otherwise have against the Agency. The Company agrees it will not (i) suspend, discontinue or xxxxx any payment required by Section 2.6 hereof or (ii) fail to observe any of its other covenants or agreements in this Lease Leaseback Agreement or (iii) except as provided in Section 8.1 hereof, terminate this Lease Leaseback Agreement for any cause whatsoever including, without limiting the generality of the foregoing, failure to complete the Facility, any defect in the title, design, operation, merchantability, fitness or condition of the Facility or in the suitability of the Facility for the Company's ’s purposes and needs, failure of consideration, destruction of or damage to the Facility, commercial frustration of purpose, or the taking by Condemnation condemnation of title to or the use of all or any part the Facility, any change in the tax or other laws of the United States of America or administrative rulings of or administrative actions by the State or any political subdivision of either, or any failure of the Agency to perform and observe any agreement, whether expressed or implied, or any duty, liability or obligation arising out of or in connection with this Lease Leaseback Agreement, or otherwise. Subject to the foregoing provisions, nothing contained in this Section 2.7 shall be construed to release the Agency from the performance of any of the agreements on its part contained in this Lease Agreement or to affect the right of the Company to seek reimbursement, and in the event the Agency should fail to perform any such agreement, the Company may institute such separate action against the Agency as the Company may deem necessary to compel performance or recover damages for nonperformance, and the The Agency covenants that it will not, subject to the provisions of Section 5.26.1 hereof, take, suffer or permit any action which will adversely affect, or create any defect in its title to the Facility or which will otherwise adversely affect the rights or estates of the Company hereunder, except upon written consent of the Company. None of the foregoing shall relieve the Company of its obligations under Section 5.2 hereof.
Appears in 1 contract
Obligations of Company Hereunder Unconditional. The ---------------------------------------------- obligations of the Company to make the payments required in Section 2.6 hereof 5.3 hereof, and to perform and observe any and all of the other covenants and agreements on its part contained herein shall be a general obligation of the Company Company, and shall be absolute and unconditional irrespective of any defense or any rights of setoff, recoupment or counterclaim it may otherwise have against the Agency. The Company agrees it will not (i) suspend, discontinue or xxxxx any payment required by Section 2.6 hereof hereunder or (ii) fail to materially observe any of its other covenants or agreements in this Lease Agreement or (iii) except as provided in Section 8.1 hereof, terminate this Lease Agreement for any cause whatsoever including, without limiting the generality of the foregoing, failure to complete the Facility, any defect in the title, design, operation, merchantability, fitness or condition of the Facility or in the suitability of the Facility for the Company's purposes and needs, failure of consideration, destruction of or damage to the Facility, commercial frustration of purpose, or the taking by Condemnation of title to or the use of all or any part the Facility, any change in the tax or other laws of the United States of America or administrative rulings of or administrative actions by the State or any political subdivision of either, or any failure of the Agency to perform and observe any agreement, whether expressed or implied, or any duty, liability or obligation arising out of or in connection with this Lease Agreement, or otherwise. Subject to the foregoing provisions, nothing contained in this Section 2.7 shall be construed to release the Agency from the performance of any of the agreements on its part contained in this Facility Lease Agreement or to affect the right of the Company to seek reimbursement, and in the event the Agency should fail to to-perform any such agreement, the Company may institute such separate action against the Agency as the Company may deem necessary to compel performance or recover damages for nonperformancenon-performance, and the Agency covenants that it will not, subject to the provisions of Section 5.2Sections 3.3 and 8.3 and Article X hereof, take, suffer or permit any action which will adversely affect, or create any defect in its title to the Facility or which will otherwise adversely affect the rights or estates estate of the Company hereunder, except upon written consent of the Company. None of the foregoing shall relieve the Company of its obligations under Section 5.2 hereof.
Appears in 1 contract
Obligations of Company Hereunder Unconditional. The obligations of the Company to make the payments required in Section 2.6 5.01 hereof and to perform and observe any and all of the other covenants and agreements on its part contained herein shall be a general obligation of the Company and shall be absolute and unconditional irrespective of any defense or any rights of setoff, recoupment or counterclaim it may otherwise have against the Agencyunconditional. The Company agrees it (a) will not suspend or discontinue, or permit the suspension or discontinuance of, any payments provided for in Section 5.01 hereof; (ib) suspend, discontinue or xxxxx any payment required by Section 2.6 hereof or (ii) fail to will perform and observe any all of its other covenants or agreements contained in this Lease Agreement or Loan Agreement; and (iiic) except as provided in Section 8.1 Article XI hereof, will not terminate this Lease Loan Agreement for any cause whatsoever including, without limiting the generality of the foregoing, failure to complete acquire, construct, improve and equip the FacilityImprovements, any defect in the title, design, operation, merchantability, fitness acts or condition of the Facility or in the suitability of the Facility for the Company's purposes and needs, circumstances that may constitute failure of consideration, eviction or constructive eviction, destruction of or damage to the Facilityits solid waste recovery facilities, commercial frustration of purpose, or the taking by Condemnation of title to or the use of all or any part the Facility, any change in the tax or other laws of the United States of America or administrative rulings of or administrative actions by the United States of America or the State of Oklahoma or any political subdivision of either, or any failure of the Agency Authority to perform and observe any agreement, whether expressed express or implied, or any duty, liability, or obligation arising out of or connected with this Loan Agreement, whether express or implied, or any failure of the Trustee to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or in connection connected with this Lease Agreementthe Indenture, whether express or otherwiseimplied. Subject to the foregoing provisions, nothing Nothing contained in this Section 2.7 shall be construed to release the Agency Authority from the performance of any of the agreements on its part contained in this Lease Agreement or to affect the right of the Company to seek reimbursementherein contained, and in if the event the Agency should Authority shall fail to perform any such agreement, the Company may institute such separate action against the Agency Authority as the Company may deem necessary to compel performance or recover damages for nonperformanceperformance, and provided that no such action shall violate the Agency covenants that it will not, subject to agreements on the provisions of Section 5.2, take, suffer or permit any action which will adversely affect, or create any defect in its title to the Facility or which will otherwise adversely affect the rights or estates part of the Company hereundercontained herein. The Company may, except upon written consent however, at its own cost and expense and in its own name or in the name of the Company. None of the foregoing shall relieve Authority, prosecute or defend any action or proceeding or take any other action involving third persons which the Company deems reasonably necessary in order to secure or protect its right of possession, occupancy and use of its obligations under Section 5.2 hereofsolid waste recovery facilities, and in such event the Authority hereby agrees to cooperate fully with the Company (without expense to the Authority).
Appears in 1 contract
Samples: Loan Agreement (Advanced Environmental Recycling Technologies Inc)
Obligations of Company Hereunder Unconditional. (a) The obligations of the Company to make the payments required in Section 2.6 hereof during the Term and to perform and observe any and all of the other covenants and agreements on its part contained herein shall be a general obligation of the Company and shall be absolute and unconditional irrespective of any defense or any rights of setoff, recoupment or counterclaim it may otherwise have against the Agency. The Company agrees it will not (i) suspend, discontinue or xxxxx any payment required by Section 2.6 hereof or hereof, (ii) fail to observe any of its other covenants or agreements in this Lease Agreement Agency Lease, or (iii) except as provided in Section 8.1 hereof, terminate this Agency Lease Agreement for any cause whatsoever including, without limiting the generality of the foregoing, failure to complete the Project Facility, any defect in the title, design, operation, merchantability, fitness or condition of the Project Facility or in the suitability of the Project Facility for the Company's ’s purposes and needs, failure of consideration, destruction of or damage to the Project Facility, commercial frustration of purpose, or the taking by Condemnation condemnation of title to or the use of all or any part the Project Facility, any change in the tax or other laws of the United States of America or administrative rulings of or administrative actions by the State or any political subdivision of either, or any failure of the Agency to perform and observe any agreement, whether expressed or implied, or any duty, liability or obligation arising out of or in connection with this Lease AgreementAgency Lease, or otherwise. Subject to the foregoing provisions, nothing contained in this Section 2.7 shall be construed to release the Agency from the performance of any of the agreements on its part contained in this Agency Lease Agreement or to affect the right of the Company to seek reimbursement, and in the event the Agency should fail to perform any such agreement, the Company may institute such separate action against the Agency as the Company may deem necessary to compel performance or recover damages for nonperformance, and the Agency covenants that it will not, subject to the provisions of Section 5.26.1, take, suffer or permit any action which will adversely affect, or create any defect in its title to the Project Facility or which will otherwise adversely affect the rights or estates of the Company hereunder, except upon written consent of the Company. None of the foregoing shall relieve the Company of its obligations under Section 5.2 hereof.
Appears in 1 contract
Samples: Tax Agreement