Common use of Further Authority Clause in Contracts

Further Authority. The Guarantor Banks may at all times immediately pay, discharge and satisfy upon demand by EDB any amounts claimed by EDB under or in connection with the EDB Guarantee without any reference or further authority from the Borrower, without further investigation or inquiry and without inquiring and without requiring proof or the agreement of the Borrower that the amounts so demanded are due and notwithstanding that the Borrower disputes the validity of any such demands or payments (whether or not such dispute is disclosed to any of the Guarantor Banks). The Guarantor Banks need not concern themselves with the propriety of any claim or demand made or purported to be made under or in connection with the EDB Guarantee and it shall not be a defence to any demand made of the Borrower, nor shall the liability of the Borrower under this Clause be affected or impaired by the fact, that any of the Guarantor Banks was or might have been justified in refusing payment in whole or in part of the amounts so demanded.

Further Authority. The Guarantor Banks may at all times immediately pay, discharge and satisfy upon demand by EDB any amounts claimed by EDB under or in connection with the EDB Guarantee without any reference or further authority from the Borrower, without further investigation or inquiry and without inquiring and without requiring proof or the agreement of the Borrower that the amounts so demanded are due and notwithstanding that the Borrower disputes the validity of any such demands or payments (whether or not such dispute is disclosed to any of the Guarantor Banks). The Guarantor Banks need not concern themselves with the propriety of any claim or demand made or purported to be made under or in connection with the EDB Guarantee and it shall not be a defence to any demand made of the Borrower, nor shall the liability of the Borrower under this Clause be affected or impaired by the fact, fact that any of the Guarantor Banks was or might have been justified in refusing payment in whole or in part of the amounts so demanded.