Payment and Performance Obligations. Borrower hereby unconditionally, irrevocably and absolutely agrees to make prompt and full payment of all payment obligations owed under this Continuing Covenant Agreement and the other Financing Documents (including Project Loan Payments corresponding to payments due on the Governmental Note, as well as all additional payments of fees, expenses and other amounts owed thereunder), whether now existing or hereafter arising in respect of the Indebtedness, irrespective of their nature, whether direct or indirect, absolute or contingent, with interest thereon at the rate or rates provided in such Financing Documents, and to duly perform all other obligations hereunder and thereunder. Xxxxxxxx’s personal liability under this Section 3.09 will be limited as set forth in Section 9 of the Project Note. No partner or member of Borrower will have any liability under this Section 3.09 except as set forth in Section 9 of the Project Note.
Payment and Performance Obligations. The Mortgagor will duly and punctually pay or cause to be paid and duly perform, observe and comply with the Secured Obligations.
Payment and Performance Obligations. If any payment or performance obligation of the Borrower shall come due or otherwise be required on a day that is not a Business Day, payment or performance shall be made on the next following Business Day, and such extension of time shall be reflected in respect of computing interest or fees, as the case may be.
Payment and Performance Obligations. Each party shall pay and perform all of its obligations as a named insured or an additional named insured under the Environmental Insurance Policy in order to preserve the benefits of insurance coverage for both parties. Without limiting the generality of the foregoing, the parties agree (i) that the Port shall pay for all co-insurance participation percentage payments due under Coverages K and L of the Policy, (ii) Georgia Pacific shall pay the premium for risk transfer portion of the Environmental Impairment Liability insurance ($80 million dedicated limit for Coverages K & L and a $25 million dollar dedicated limit for Coverages A, C, D, F, G H and J) to the extent provided in Section 5.2, (iii) the Port and Georgia-Pacific shall each pay fifty percent (50%) of the deductibles for unknown Pollutants within the meaning of Coverage A of the Environmental Insurance Policy and for deductibles for Coverage A of the Environmental Insurance Policy for regulatory changes, (iv) Georgia-Pacific shall pay one hundred percent (100%) of the deductibles for third party claims under the Environmental Impairment Liability portion of the Policy to the extent such Claim arises from a Pollution Condition that existed prior to the Inception Date of the Policy, and (v) the Port shall pay one hundred percent (100%) of the deductibles for third party claims under the Environmental Impairment Liability portion of the Policy to the extent such Claim arises from a Pollution Condition that first existed after the Inception Date of the Policy.
Payment and Performance Obligations
