Common use of Payment Obligation Absolute Clause in Contracts

Payment Obligation Absolute. Unless Section 25 is applicable, Parent’s obligation to pay or cause to be paid to Executive the benefits and to make arrangements provided in this Section 24 shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any offset, counterclaim, recoupment, defense or other right, which Parent or Bank may have against him or anyone else. All amounts payable by or on behalf of Parent under this Section 24 shall, unless specifically stated to the contrary herein, be paid without notice or demand. Each and every payment made under this Section 24 by or on behalf of Parent shall be final and Parent or Bank and their subsidiaries shall not, for any reason whatsoever, seek to recover all or any part of such payment from Executive or from whoever shall be entitled thereto.

Payment Obligation Absolute. Unless Section 25 is applicable, Parent’s 's obligation to pay or cause to be paid to Executive the benefits and to make arrangements provided in this Section 24 shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any offset, counterclaim, recoupment, defense or other right, which Parent or Bank may have against him or anyone else. All amounts payable by or on behalf of Parent under this Section 24 shall, unless specifically stated to the contrary herein, be paid without notice or demand. Each and every payment made under this Section 24 by or on behalf of Parent shall be final and Parent or Bank and their subsidiaries shall not, for any reason whatsoever, seek to recover all or any part of such payment from Executive or from whoever shall be entitled thereto.