Obligations of the Borrower Unconditional. Nothing contained in this Section 8 or elsewhere in this Agreement or in the Notes is intended to or shall impair, as between the Borrower and the Lenders, the obligation of the Borrower, which is absolute and unconditional, to pay to the Lenders the principal of and interest on the Loans as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Lenders and creditors of the Borrower other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Administrative Agent or any Lender from exercising all remedies otherwise permitted by applicable law upon default under this Agreement, subject to the rights, if any, under this Section 8 of the holders of Senior Indebtedness in respect of cash, property or securities of the Borrower received upon the exercise of any such remedy. Upon any payment or distribution of assets or securities of the Borrower referred to in this Section 8, the Administrative Agent and the Lenders shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any liquidation, dissolution, winding-up or reorganization proceedings are pending, or a certificate of the receiver, trustee in bankruptcy, liquidating trustee or agent or other Person making any payment or distribution to the Administrative Agent or to the Lenders for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of Senior Indebtedness and other Indebtedness of the Borrower, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Section 8. Nothing in this Section 8 shall apply to the claims of, or payments to, the Administrative Agent, in its capacity as such. The Administrative Agent shall be entitled to rely on the delivery to it of a written notice by a Person representing himself or itself to be a holder of any Senior Indebtedness (or a trustee on behalf of, or other representative of, such holder) to establish that such notice has been given by a holder of such Senior Indebtedness or a trustee or representative on behalf of any such holder. In the event that the Administrative Agent determines in good faith that any evidence is required with respect to the right of any Person as a holder of Senior Indebtedness to participate in any payment or distribution pursuant to this Sec...
Obligations of the Borrower Unconditional. Nothing contained in this Section 8 or elsewhere in this Agreement is intended to or shall impair as between the Borrower and the Lenders the obligations of the Borrower, which are absolute and unconditional, to pay to the Lenders the Obligations as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Lenders and creditors of the Borrower other than the holders of the Senior Indebtedness of the Borrower, nor shall anything herein or therein prevent the Lenders from exercising all remedies otherwise permitted by applicable law upon default under this Agreement, subject to the rights, if any, under this Section 8 of the holders of such Senior Indebtedness of the Borrower in respect of cash, property or securities of the Borrower received upon the exercise of any such remedy. The failure to make a payment in respect of Obligations by reason of any provision of this Section 8 shall not prevent the occurrence of an Event of Default under Section 7.
Obligations of the Borrower Unconditional. The obligations of the Borrower to make the payments required by this Loan Agreement and the Borrower Bond and to perform and observe any and all of the other covenants and agreements on its part contained herein and therein shall be absolute and unconditional irrespective of any defense or any rights of setoff, recoupment or counterclaim it may otherwise have against the District or Bondholders. The Borrower agrees it will not (a) suspend, discontinue or xxxxx any payments required by the Loan Agreement or the Borrower Bond, (b) fail to observe any of its other covenants and agreements in the Loan Documents, (c) seek judicial or other relief from the obligation to make such payments or perform such covenants and agreements, or (d) terminate this Loan Agreement, the Borrower Bond or the Collateral Documents for any cause whatsoever, including, without limitation, failure to complete the Project, failure of consideration, commercial frustration of purpose, destruction of or damage to the Project or the System, any dispute with the District, any change in applicable laws and regulations, or any failure of the District to perform any of its agreements, provided that nothing contained in this section shall be construed to release the District from performance of its agreements on its part contained in this Loan Agreement.
Obligations of the Borrower Unconditional. The obligation of the Borrower to make Payments pursuant to the Agreement, will be absolute and unconditional.
Obligations of the Borrower Unconditional. Subject to the provisions of this Agreement, nothing contained in this Agreement is intended to or shall impair, as between Borrower and any Creditor, the obligations of Borrower, which are absolute and unconditional, to pay to such Creditor all Obligations of Borrower to such Creditor, as and when the same shall become due and payable in accordance with such Creditor’s Loan Documents, or is intended to or shall affect the relative rights of the creditors of the Borrower other than the Creditors.
Obligations of the Borrower Unconditional. The payment and performance by the Borrower of its obligations hereunder and under the Revolving Credit Note and the Security Documents shall be absolute and unconditional, irrespective of any defense or right of set-off, recoupment or counterclaim it might otherwise have against the Bank or any other Person; and the Borrower shall pay absolute net during the term thereof all payments to be made on account of the Revolving Credit Loan as prescribed in the Revolving Credit Note and all other payments required hereunder and thereunder, free of all deductions and without any abatement, diminution or set-off whatsoever.
Obligations of the Borrower Unconditional. (a) Nothing contained in this Agreement is intended to or shall relieve the obligations of the Borrower respectively to the Senior Collateral Trustee, the Senior Lenders, the Second Lien Administrative Agent, or the Second Lien Lenders to pay any amount in respect of the First Lien Indebtedness or the Second Lien Indebtedness, as the case may be, as and when such amount shall become due and payable in accordance with the terms thereof, or to affect the relative rights of the Senior Collateral Trustee, the Senior Lenders, the Second Lien Administrative Agent or the Second Lien Lenders, on the one hand, and the other creditors of the Borrower, on the other hand. All rights, interests, and obligations of the Senior Collateral Trustee, the Senior Lenders, the Second Lien Administrative Agent, the Second Lien Lenders, and the Borrower hereunder, shall remain in full force and effect irrespective of:
(i) any lack of validity or enforceability of any loan document or any other agreement or instrument relating thereto;
(ii) any change in the time, manner or place of, or in any other term of, all or any of the First Lien Indebtedness or the Second Lien Indebtedness, or any amendment or waiver of or any consent to departure from any provision of the
Obligations of the Borrower Unconditional. Nothing contained in this Note is intended to or shall impair, as between the Borrower and the Holder, the obligation of the Borrower, which is absolute and unconditional, to pay to the Holder all amounts owed under this Note, as and when the same shall become due and payable in accordance with its terms, or to affect the relative rights of the Holder and other creditors of the Borrower (other than the holders of Senior Obligations), except as provided in this Section 5.
Obligations of the Borrower Unconditional. Nothing contained in this Article XIV or elsewhere in this Agreement or in the Term B Loans is intended to or shall impair, as between the Borrower and the Holders, the obligations of the Borrower, which are absolute and unconditional, to pay to the Holders the principal of (premium, if any), and interest on, the Term B Loans as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders and creditors of the Borrower (other than the Term A Lenders), nor shall anything herein or therein prevent any Holder from exercising all remedies otherwise permitted by Applicable Law upon the occurrence of a Default or Event of Default under this Agreement, subject to the rights, if any, under this Article XIV of the holders of Term A Loan Obligations in respect of cash, property or securities of the Borrower received upon the exercise of any such remedy. The failure to make a payment on account of principal of, or interest on, the Term B Loan Obligations by reason of any provision of this Article XIV shall not be construed as preventing the occurrence of a Default or an Event of Default hereunder.
Obligations of the Borrower Unconditional. Nothing contained in this Section 8 or elsewhere in this Note or in the Subordinated Guaranty is intended to or shall impair, as among the Borrower, the Subordinated Guarantor and its other Subsidiaries, their creditors other than the Senior Lenders, and the Holder, the obligations of the Borrower, the Subordinated Guarantor and its other Subsidiaries, which are absolute and unconditional, to pay to the Holder the indebtedness under this Note and the Subordinated Guaranty, as and when the same shall become due and payable in accordance with the terms hereof and thereof or any other document governing any Subordinated Indebtedness, or to affect the relative rights of the Holder and other creditors of the Borrower, the Subordinated Guarantor or any other Subsidiary other than the Senior Lenders.
