Common use of Irrevocable Commitment to Pay Clause in Contracts

Irrevocable Commitment to Pay. The Project Participants shall pay their respective Water Charge for every Fiscal Year throughout the term of the Agreement in the manner provided in Section 14.1. Said payments shall be made without notice or demand and without set- off, counterclaim, abatement, suspension or deduction. The Cooperative is undertaking the acquisition, construction, operation and replacement and expansion of the Project on the representation, warranties and covenants of the Project Participants to pay theWater Charge in a timely manner. Each Project Participant agrees that the obligation to pay its Base Rate Charge shall constitute an absolute and unconditional obligation of such Project Participant. For the avoidance of doubt, each Project Participant shall pay its Base Rate Charge to the Cooperative irrespective of the operational status of the Project.