Common use of Obligations of the Borrower Unconditional Clause in Contracts

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. Nothing contained in this Section 8 or elsewhere in this Agreement is intended to or shall impair as between the Borrower and the Agent and the Lenders the obligations of the Borrower, which are absolute and unconditional, to pay to the Agent and 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 Agent and 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 Agent and 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 on account of Obligations by reason of any provision of this Section 8 shall not prevent the occurrence of an Event of Default under Section 7subsection 7.1.

Obligations of the Borrower Unconditional. Nothing contained in ----------------------------------------- this Section 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 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 SECTION 8 shall not prevent the occurrence of an Event of Default under Section SECTION 7.

Obligations of the Borrower Unconditional. Nothing contained in this Section 8 11 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 11 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 on account of Obligations by reason of any provision of this Section 8 11 shall not prevent the occurrence of an Event of Default under Section 78.