Common use of Payment from Eksportfinans Guarantors Clause in Contracts

Payment from Eksportfinans Guarantors. The Eksportfinans Guarantors shall be irrevocably and unconditionally authorised by the Borrower upon the occurrence of an Event of Default to pay any amounts demanded by Eksportfinans under the Eksportfinans Guarantees forthwith, without any reference or further authorisation from the Borrower and, save for manifest error, without being under any duty or obligation to enquire into the justification or validity thereof and/or dispute whether any claims or demands under the Eksportfinans Guarantees are properly or validly made, and notwithstanding that the Borrower may dispute the validity of any such claim or demand the Guarantors may accept any claim or demand under the Eksportfinans Guarantees as binding upon the Eksportfinans Guarantors as conclusive evidence that they as Eksportfinans Guarantors thereunder are liable to pay any such amount.