Payment Obligations Unconditional Sample Clauses
The 'Payment Obligations Unconditional' clause establishes that a party’s duty to make payments under the contract is absolute and not subject to any conditions or contingencies. In practice, this means that the paying party must fulfill its payment obligations regardless of disputes, counterclaims, or issues with the performance of other contractual terms. For example, even if the recipient allegedly breaches another part of the agreement, the payer cannot withhold or delay payment. This clause ensures certainty and reliability in financial transactions by preventing parties from using payment as leverage in unrelated disputes.
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Payment Obligations Unconditional. Lessee’s obligation to pay Rent shall be absolute and unconditional irrespective of any contingency whatsoever including, without limitation, (i) any right of set-off, counterclaim, recoupment, defense, withholding (other than any withholding of Taxes required by law to be made from payments of Rent hereunder for which the Lessee has no gross-up or indemnity obligation pursuant to Clause 18 or 19.2(a)) or other right Lessee may have against Lessor or any other person, (ii) any unavailability of the Aircraft for any reason, (including, without limitation, a requisition thereof not constituting a Total Loss) or any prohibition or interruption of or other restriction against Lessee’s use, operation or possession of the Aircraft, any interference with such use, operation or possession or any lack or invalidity of title or any other defect in the title, airworthiness, merchantability, fitness for any purpose, condition, design or operation of any kind or nature of the Aircraft, or the ineligibility of the Aircraft for any particular use or trade, or for registration or documentation under the laws of any relevant jurisdiction, or the Total Loss of, or any damage (not constituting a Total Loss) to, the Aircraft, (iii) any insolvency, bankruptcy, reorganization, arrangement, readjustment of debt, dissolution, liquidation, concurso mercantil, or similar proceedings by or against Lessor or Lessee, (iv) any invalidity or unenforceability or lack of due authorization of, or other defect in, this Agreement or any of the other Operative Documents, (v) any failure or delay on the part of Lessee or of Lessor or any Lender duly to perform or comply with its obligations under this Agreement or any Operative Document, and (vi) any other cause that, but for this provision, would or might have the effect of terminating, discharging or in any way affecting any obligation of Lessee hereunder. Nothing in this Clause 6.4 will be construed to extinguish or otherwise limit Lessee’s right to institute legal proceedings against Lessor or any other person for damages in the event of Lessor’s breach of this Agreement or otherwise.
Payment Obligations Unconditional. Nothing contained in this Article 16 or elsewhere in this Indenture or in the Securities is intended to or shall impair, as among the Company, its creditors other than the holders of Senior Indebtedness, and the holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the holders of the Securities the principal of and interest on the Securities 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 holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or, subject to Section 5.04, the holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article 16 of the holders of Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy.
Payment Obligations Unconditional. The payment obligations of the Borrower under this subsection 2.1.4 shall be unconditional and irrevocable and shall be paid strictly in accordance with this Agreement and the applicable LC Applications regardless of the circumstances. Without limiting the ▇▇▇▇▇▇▇▇▇, ▇▇▇▇ of the following circumstances shall reduce, discharge, stay, defer or impair in any other manner the payment obligations of the Borrowers under this part:
(i) any lack of validity or enforceability of any Letter of Credit, any LC Application, this Agreement or any related document;
(ii) any amendment, waiver, release or termination of or any consent to departure from the terms of any Letter of Credit, any LC Application, this Agreement or any related document;
(iii) any extension of time or other modification or the terms and conditions governing the making and honoring of any drawing, or any extension of time or other modification of the terms and conditions for any other act to be performed under the terms of any Letter of Credit;
(iv) the existence of any claim, set-off, defense or other right which any Borrower may have at any time against any beneficiary under, or any transferee of, any Letter of Credit (or any person for whom any such beneficiary or transferee may hold a Letter of Credit or any interest therein), or the Lender or any other person, regardless of whether such claim, set-off, defense or other right is held or asserted in connection with this Agreement or any unrelated transaction;
(v) the surrender or impairment of any security for the Obligations;
(vi) any demand, draft, certification, statement or any other document presented under any Letter of Credit being forged or otherwise fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect;
(vii) payment by the Lender under any Letter of Credit against presentation of a draft, certificate or other documentation which does not comply with the terms of such Letter of Credit, except to the extent that such payment constitutes gross negligence or willful misconduct of the Lender; or
(viii) any other circumstance or occurrence whatsoever, whether or not similar to any of the foregoing, except to the extent resulting principally from the gross negligence or willful misconduct of the Lender.
Payment Obligations Unconditional. Each of the Customer and the Guarantor acknowledges and agrees that its obligation to pay Rent Payments and all other moneys payable in respect of each Lease, and the rights of CFNZ in and to such Rent Payments and other moneys, shall be absolute and unconditional and (notwithstanding any provision of this Agreement, of any Lease or any rule of law or course of conduct to the contrary) shall not be subject to any abatement, reduction, set-off, defence, counter- claim or recoupment of any kind whatsoever. All Rent Payments and other amounts payable by the Customer or the Guarantor in respect of a Lease shall continue to be payable in all events in the manner and at the times provided, unless the Customer’s or Guarantor’s obligations in respect thereof have been terminated pursuant to the express provisions of that Lease.