Common use of Unconditional Obligations Clause in Contracts

Unconditional Obligations. The Borrower acknowledges and agrees that its obligations under this Agreement: (a) are totally independent and separate from and are not conditional upon the Commercial Contract; and (b) shall not in any way be affected or discharged by reason of: (i) any matter in relation to the Commercial Contract including the performance, frustration or validity of the Commercial Contract in full or in part; (ii) the destruction, non-completion or non-functioning of the goods, materials or equipment supplied under the Commercial Contract; (iii) the insolvency or dissolution of the Contractor;