Common use of No Set-Off, Counterclaim, etc Clause in Contracts

No Set-Off, Counterclaim, etc. Except as expressly provided herein, Owner's obligation to pay all amounts payable hereunder shall be absolute and unconditional and shall not be affected by any circumstance, including, without limitation, (i) any set-off, counterclaim, recoupment, defense or other right which Owner may have against the Indenture Trustee (in its individual capacity or as Indenture Trustee), any Loan Participant, or anyone else for any reason whatsoever (whether in connection with the transactions contemplated hereby or any other transactions), including, without limitation, any breach by Owner of its warranties, agreements or covenants contained in any of the Operative Documents, (ii) any defect in the title, registration, airworthiness, condition, design, operation, or fitness for use of, or any damage to or loss or destruction of, the Aircraft, or any interruption or cessation in or prohibition of the use or possession thereof by Owner (or any Lessee) for any reason whatsoever, including, without limitation, any such interruption, cessation or prohibition resulting from the act of any government authority, (iii) any insolvency, bankruptcy, reorganization or similar case or proceedings by or against Owner (or any Lessee) or any other Person or (iv) any other circumstance, happening, or event whatsoever, whether or not unforeseen or similar to any of the foregoing.