Common use of Security Interest and Obligations Absolute Clause in Contracts

Security Interest and Obligations Absolute. Subject to Section 6.14 hereof, all rights of the Collateral Agent hereunder, the Security Interest, the grant of a security interest in the Pledged Collateral and all obligations of each Grantor hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Indenture, any other Note Document, any agreement with respect to any of the Obligations or any other agreement or instrument relating to any of the foregoing, (b) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from the Indenture, any other Note Document, or any other agreement or instrument (so long as the same are made in accordance with the terms of the Indenture), (c) any exchange, release or non-perfection of any Lien on other collateral, or any release or amendment or waiver of or consent under or departure from any guarantee, securing or guaranteeing all or any of the Obligations, (d) any bankruptcy, insolvency, reorganization, arrangement, readjustment, composition, liquidation or the like of any other Grantor, (e) any exercise, non-exercise or waiver of any right, remedy, power or privilege under or in respect hereof, the Indenture or any other Note Document except as specifically set forth in a waiver, forbearance, consent or amendment granted pursuant to the provisions of Section 6.08 hereof, or (f) any other circumstance that might otherwise constitute a defense available to, or a discharge of, any Grantor in respect of the Obligations or this Agreement.

Security Interest and Obligations Absolute. Subject to Section 6.14 7.14 hereof, all rights of the Collateral Agent hereunder, the Security Interest, the grant of a security interest in the Pledged Collateral and all obligations of each Grantor hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Credit Agreement, the Senior Secured Note Indenture, any other Note Transaction Document, any agreement with respect to any of the Obligations or any other agreement or instrument relating to any of the foregoing, (b) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from the Credit Agreement, the Senior Secured Note Indenture, any other Note Transaction Document, or any other agreement or instrument (so long as the same are made in accordance with the terms of Section 9.08 of the IndentureCredit Agreement and any comparable provision of the Senior Secured Note Indenture and any Other Pari Passu Lien Obligations Agreement, as applicable), (c) any exchange, release or non-perfection of any Lien on other collateral, or any release or amendment or waiver of or consent under or departure from any guarantee, securing or guaranteeing all or any of the Obligations, Obligations or (d) any bankruptcy, insolvency, reorganization, arrangement, readjustment, composition, liquidation or the like of any other Grantor, (e) any exercise, non-exercise or waiver of any right, remedy, power or privilege under or in respect hereof, the Indenture or any other Note Document except as specifically set forth in a waiver, forbearance, consent or amendment granted pursuant to the provisions of Section 6.08 hereof, or (f) any other circumstance that might otherwise constitute a defense available to, or a discharge of, any Grantor in respect of the Obligations or this AgreementAgreement other than payment of the Obligations (other than contingent obligations), in full.

Security Interest and Obligations Absolute. Subject to Section 6.14 hereofEach Pledgor agrees, all severally, that it will perform its obligations hereunder strictly in accordance with the terms of this Agreement regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting the Secured Obligations of the other Credit Parties or the rights of any of the Collateral Agent hereunder, the Security Interest, the grant of a security interest in the Pledged Collateral and all obligations Financial Institutions with respect thereto. The liability of each Grantor hereunder of the Pledgor under this Agreement shall be absolute and unconditional irrespective of of: (a) any lack of validity or enforceability of the Indenture, any other Note Document, any agreement with respect to any of the Obligations Credit Documents or any other agreement or instrument relating to any of the foregoing, thereto; (b) any change in the time, manner or place of payment of, or in any other term of, all or any of the Secured Obligations, or any other amendment amendment, renewal or waiver of or any consent to any departure from any of the IndentureCredit Documents, including, without limitation, any other Note Document, extension of the term and any increase in the Secured Obligations or any other agreement liabilities resulting from the extension of additional credit or instrument (so long as the same are made in accordance with the terms of the Indenture), otherwise; (c) any taking, exchange, release or non-perfection of any Lien on other collateral, or any release or amendment or waiver of or consent under or to departure from any guaranteeguaranty, securing or guaranteeing for all or any of the Obligations, Secured Obligations or any other liability; (d) any manner of application of collateral, or proceeds thereof or of collections on account of any guaranty, to all or any of the Secured Obligations or any other liabilities, or any manner of sale or other disposition of any collateral for all or any of the Secured Obligations or any other liabilities or of any other assets of the Company or any other Person; (e) any liquidation, dissolution or termination of existence of, or other change in, the Company or any other Person; (f) any bankruptcy, insolvency, reorganization, arrangement, readjustment, composition, liquidation receivership or other proceeding involving the like of any other Grantor, (e) any exercise, non-exercise or waiver of any right, remedy, power or privilege under or in respect hereof, the Indenture Company or any other Note Document except Person or any defense that may arise in connection with or as specifically set forth in a waiverresult of any such bankruptcy, forbearanceinsolvency, consent receivership or amendment other proceeding or otherwise; (g) any indulgence, moratorium or release granted pursuant by any Financial Institution, including but not limited to (i) any renewal, extension or modification which a Financial Institution may grant with respect to the provisions Secured Obligations, (ii) any surrender, compromise, release, renewal, extension, exchange or substitution which a Financial Institution may grant in respect of Section 6.08 hereofany item securing the Secured Obligations, or any part thereof or any interest therein, or (fiii) any release or indulgence granted to any endorser, guarantor or surety of the Secured Obligations; or (h) any other circumstance that which might otherwise constitute a defense available to, or a discharge of, the Company, Pledgor, a third party pledgor or any Grantor in respect other Person (other than the satisfaction of the Obligations or this AgreementSecured Obligations).