Common use of OBLIGATIONS OF NEXEN ABSOLUTE Clause in Contracts

OBLIGATIONS OF NEXEN ABSOLUTE. The obligations of Nexen under this Agreement are absolute and unconditional and shall not be released, discharged or reduced, and the rights of the Indemnified Party hereunder shall not be prejudiced or impaired, by any neglect, delay or forbearance in demanding, requiring or enforcing payment or performance by Nexen of any of its obligations hereunder or by granting any extensions of time for such performance or by waiving any performance (except as to any particular performance which has been waived), or by permitting or consenting to any assignment in bankruptcy, receivership, insolvency or any other creditor's proceedings of or against Nexen or by the winding-up or dissolution of Nexen or any other event or occurrence which would or might otherwise have the effect at law of terminating the obligations of Nexen under this Agreement.

OBLIGATIONS OF NEXEN ABSOLUTE. The obligations of Nexen under this Agreement are absolute and unconditional and shall not be released, discharged or reduced, and the rights of the Indemnified Party hereunder shall not be prejudiced or impaired, by any neglect, delay or forbearance in demanding, requiring or enforcing payment or performance by Nexen of any of its obligations hereunder or by granting any extensions of time for such performance or by waiving any performance (except as to any particular performance which has been waived), or by permitting or consenting to any assignment in bankruptcy, receivership, insolvency or any other creditor's ’s proceedings of or against Nexen or by the winding-up or dissolution of Nexen or any other event or occurrence which would or might otherwise have the effect at law of terminating the obligations of Nexen under this Agreement.