Common use of Obligations of the Borrower Unconditional Clause in Contracts

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.