Common use of Irrevocable Obligation Clause in Contracts

Irrevocable Obligation. Each Lender's obligation to make its Ratable Share of Revolving Credit Loans to repay the principal amount of the Swing Loans outstanding or to purchase its Ratable Share of the principal amount of the Swing Loans shall be irrevocable and shall not be subject to any qualification or exception whatsoever and shall be made under all circumstances, including without limitation any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the Loan Documents; (ii) the existence of any claim, setoff, defense or other right which the Borrowers may have at any time against any Agent, any Swing Lender, any Lender or any other Person, whether in connection with this Agreement, the transactions contemplated herein or any unrelated transactions; or (iii) the occurrence of any Event of Default, Potential Default, or termination of the Commitments or this Agreement.

Irrevocable Obligation. Each Lender's obligation to make its Ratable Share of Revolving Credit Loans to repay the principal amount of the Swing Loans outstanding or to purchase its Ratable Share of the principal amount of the Swing Loans shall be irrevocable and shall not be subject to any qualification or exception whatsoever and shall be made under all circumstances, including without limitation any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the Loan Documents; (ii) the existence of any claim, setoff, defense or other right which the Borrowers may have at any time against any Agent, any Swing Lender, any Lender or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactionstransactions (including any underlying transactions between the Company or any of its Subsidiaries and the beneficiary named in any Letter of Credit); or (iii) the occurrence of any Event of Default, Potential Default, or termination of the Commitments or this Agreement.