Common use of Absolute Liability Clause in Contracts

Absolute Liability. The Bank’s liability under this Agreement is absolute and unconditional and will not be limited or reduced, nor will the Trustee or the Bondholders be responsible or owe a duty (as a fiduciary or otherwise) to the Bank, nor will the rights of the Bondholders under this Agreement be prejudiced by the existence or occurrence (with or without the knowledge or consent of the Trustee or the Bondholders) of any one or more of the following events:

Absolute Liability. The Bank’s liability under this Agreement is absolute and unconditional and will not be limited or reduced, nor will the Trustee or the Bondholders Noteholders be responsible or owe a duty (as a fiduciary or otherwise) to the Bank, nor will the rights of the Bondholders Noteholders under this Agreement be prejudiced by the existence or occurrence (with or without the knowledge or consent of the Trustee or the BondholdersNoteholders) of any one or more of the following events: