{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "obligation-to-reimburse", "type": "clause", "offset": [15, 38]}, {"key": "lc-disbursements", "type": "definition", "offset": [39, 55]}, {"key": "unconditional-and-irrevocable", "type": "clause", "offset": [120, 149]}, {"key": "in-accordance-with", "type": "clause", "offset": [183, 201]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [206, 229]}, {"key": "lack-of-validity", "type": "clause", "offset": [301, 317]}, {"key": "any-letter-of-credit", "type": "clause", "offset": [339, 359]}, {"key": "a-letter-of-credit", "type": "definition", "offset": [462, 480]}, {"key": "the-issuing-bank", "type": "clause", "offset": [625, 641]}, {"key": "comply-with-the", "type": "clause", "offset": [731, 746]}, {"key": "other-event-or-circumstance", "type": "clause", "offset": [791, 818]}, {"key": "similar-to", "type": "definition", "offset": [846, 856]}, {"key": "the-foregoing", "type": "definition", "offset": 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{"key": "any-notice", "type": "clause", "offset": [2941, 2951]}, {"key": "strict-compliance", "type": "definition", "offset": [3070, 3087]}], "snippet": "The Borrower\u2019s obligation to reimburse LC Disbursements as provided in paragraph (e) of this Section shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any Letter of Credit or this Agreement, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of Credit, or (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable discharge of, or provide a right of setoff against, the Borrower\u2019s obligations hereunder. Neither the Administrative Agent, the Lenders nor the Issuing Bank, nor any of their Related Parties, shall have any liability or responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising from causes beyond the control of the Issuing Bank; provided that the foregoing shall not be construed to excuse the Issuing Bank from liability to the Borrower to the extent of any direct damages (as opposed to consequential damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower that are caused by the Issuing Bank\u2019s failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part of the Issuing Bank (as finally determined by a court of competent jurisdiction), the Issuing Bank shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without limiting the generality thereof, the parties agree that, with respect to documents presented which appear on their face to be in substantial compliance with the terms of a Letter of Credit, the Issuing Bank may, in its sole discretion, either accept and make payment upon such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit.", "size": 1101, "samples": [{"hash": "63L5pn19ET4", "uri": "/contracts/63L5pn19ET4#obligations-absolute", "label": "Revolving Credit Facility (Williams Randa Duncan)", "score": 34.2813148499, "published": true}, {"hash": "4rKanED8n3w", "uri": "/contracts/4rKanED8n3w#obligations-absolute", "label": "Revolving Credit Facility (Williams Randa Duncan)", "score": 33.4106788635, "published": true}, {"hash": 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{"key": "other-communication", "type": "clause", "offset": [1535, 1554]}, {"key": "relating-to", "type": "definition", "offset": [1564, 1575]}, {"key": "a-drawing", "type": "definition", "offset": [1638, 1647]}, {"key": "interpretation-of", "type": "clause", "offset": [1674, 1691]}, {"key": "technical-terms", "type": "clause", "offset": [1692, 1707]}, {"key": "control-of-the", "type": "clause", "offset": [1758, 1772]}, {"key": "provided-that", "type": "clause", "offset": [1787, 1800]}, {"key": "to-the-borrower", "type": "clause", "offset": [1880, 1895]}, {"key": "to-the-extent", "type": "clause", "offset": [1896, 1909]}, {"key": "direct-damages", "type": "clause", "offset": [1917, 1931]}, {"key": "consequential-damages", "type": "clause", "offset": [1947, 1968]}, {"key": "in-respect-of", "type": "definition", "offset": [1977, 1990]}, {"key": "by-the-borrower", "type": "clause", "offset": [2015, 2030]}, {"key": "applicable-law", "type": "definition", "offset": [2058, 2072]}, {"key": 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{"key": "payment-upon", "type": "clause", "offset": [2859, 2871]}, {"key": "responsibility-for", "type": "clause", "offset": [2895, 2913]}, {"key": "further-investigation", "type": "clause", "offset": [2914, 2935]}, {"key": "any-notice", "type": "clause", "offset": [2951, 2961]}, {"key": "strict-compliance", "type": "definition", "offset": [3080, 3097]}], "snippet": "The Borrower\u2019s obligation to reimburse LC Disbursements as provided in paragraph (e) of this Section shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any Letter of Credit or this Agreement, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of Credit, or (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable discharge of, or provide a right of setoff against, the Borrower\u2019s obligations hereunder. Neither the Administrative Agent, the Revolving Lenders nor the Issuing Bank, nor any of their Related Parties, shall have any liability or responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising from causes beyond the control of the Issuing Bank; provided that the foregoing shall not be construed to excuse the Issuing Bank from liability to the Borrower to the extent of any direct damages (as opposed to consequential damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower that are caused by the Issuing Bank\u2019s failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part of the Issuing Bank (as finally determined by a court of competent jurisdiction), the Issuing Bank shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without limiting the generality thereof, the parties agree that, with respect to documents presented which appear on their face to be in substantial compliance with the terms of a Letter of Credit, the Issuing Bank may, in its sole discretion, either accept and make payment upon such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit.", "size": 962, "samples": [{"hash": "bsnbeiFryv3", "uri": "/contracts/bsnbeiFryv3#obligations-absolute", "label": "Credit Agreement (Exco Resources Inc)", "score": 24.6413421631, "published": true}, {"hash": "lbgxPCAgtRt", "uri": "/contracts/lbgxPCAgtRt#obligations-absolute", "label": "Credit Agreement (Endo Health Solutions Inc.)", "score": 24.2388782501, "published": true}, {"hash": "gduLJHshHm5", "uri": 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{"key": "at-any-time", "type": "clause", "offset": [544, 555]}, {"key": "any-person", "type": "clause", "offset": [627, 637]}, {"key": "any-other-person", "type": "definition", "offset": [725, 741]}, {"key": "in-connection-with", "type": "clause", "offset": [751, 769]}, {"key": "contemplated-hereby", "type": "clause", "offset": [803, 822]}, {"key": "agreement-or", "type": "definition", "offset": [858, 870]}, {"key": "other-document", "type": "definition", "offset": [970, 984]}, {"key": "any-loss", "type": "definition", "offset": [1167, 1175]}, {"key": "in-the-transmission", "type": "clause", "offset": [1185, 1204]}, {"key": "in-order-to", "type": "clause", "offset": [1243, 1254]}, {"key": "a-drawing", "type": "definition", "offset": [1260, 1269]}, {"key": "payment-by-the", "type": "clause", "offset": [1308, 1322]}, {"key": "comply-with-the", "type": "clause", "offset": [1432, 1447]}, {"key": "trustee-in-bankruptcy", "type": "clause", "offset": [1579, 1600]}, {"key": "for-the-benefit-of", "type": "definition", "offset": [1633, 1651]}, {"key": "other-representative", "type": "definition", "offset": [1687, 1707]}, {"key": "debtor-relief-law", "type": "definition", "offset": [1853, 1870]}, {"key": "change-in", "type": "definition", "offset": [1888, 1897]}, {"key": "exchange-rates", "type": "clause", "offset": [1911, 1925]}, {"key": "availability-of", "type": "clause", "offset": [1936, 1951]}, {"key": "alternative-currency", "type": "definition", "offset": [1965, 1985]}, {"key": "to-the-company", "type": "definition", "offset": [1986, 2000]}, {"key": "relevant-currency", "type": "definition", "offset": [2029, 2046]}, {"key": "similar-to", "type": "definition", "offset": [2137, 2147]}, {"key": "the-foregoing", "type": "definition", "offset": [2155, 2168]}, {"key": "available-to", "type": "definition", "offset": [2245, 2257]}, {"key": "the-company-shall", "type": "clause", "offset": [2309, 2326]}, {"key": "a-copy-of", "type": "clause", "offset": [2344, 2353]}, {"key": "in-the-event-of", "type": "clause", "offset": [2432, 2447]}, {"key": "the-company-will", "type": "clause", "offset": [2530, 2546]}, {"key": "notify-the", "type": "clause", "offset": [2559, 2569]}], "snippet": "The obligation of the Company to reimburse the L/C Issuer for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following:\n(i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan Document;\n(ii) the existence of any claim, counterclaim, setoff, defense or other right that the Company or any Subsidiary may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the L/C Issuer or any other Person, whether in connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction;\n(iii) any draft, demand, certificate or other document presented under such Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing under such Letter of Credit;\n(iv) any payment by the L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law;\n(v) any adverse change in the relevant exchange rates or in the availability of the relevant Alternative Currency to the Company or any Subsidiary or in the relevant currency markets generally; or\n(vi) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance that might otherwise constitute a defense available to, or a discharge of, the Company or any Subsidiary. The Company shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with the Company\u2019s instructions or other irregularity, the Company will immediately notify the L/C Issuer. The Company shall be conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents unless such notice is given as aforesaid.", "size": 642, "samples": [{"hash": "8m6umb8Gq95", "uri": "/contracts/8m6umb8Gq95#obligations-absolute", "label": "Credit Agreement (Curtiss Wright Corp)", "score": 29.7967147827, "published": true}, {"hash": "deuKaHKOGK4", "uri": "/contracts/deuKaHKOGK4#obligations-absolute", "label": "Credit Agreement (Flex Ltd.)", "score": 28.4934978485, "published": true}, {"hash": "kiHAv35w0v6", "uri": "/contracts/kiHAv35w0v6#obligations-absolute", "label": "Credit Agreement (Aecom Technology Corp)", "score": 25.0821361542, "published": true}], "hash": "b0ed0a762cdc862cec5f134c3ff328ea", "id": 6}, {"snippet_links": [{"key": "obligation-of-the-borrower", "type": "clause", "offset": [4, 30]}, {"key": "to-reimburse", "type": "definition", "offset": [31, 43]}, {"key": "the-l", "type": "clause", "offset": [44, 49]}, {"key": "each-letter-of-credit", "type": "clause", "offset": [82, 103]}, {"key": "to-repay", "type": "clause", "offset": [108, 116]}, {"key": "unconditional-and-irrevocable", "type": "clause", "offset": [155, 184]}, {"key": "in-accordance-with", "type": "clause", "offset": [213, 231]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [236, 259]}, {"key": "under-all-circumstances", "type": "clause", "offset": [260, 283]}, {"key": "lack-of-validity", "type": "clause", "offset": [318, 334]}, {"key": "loan-document", "type": "definition", "offset": [408, 421]}, {"key": "at-any-time", "type": "clause", "offset": [546, 557]}, {"key": "any-person", "type": "clause", "offset": [629, 639]}, {"key": "any-other-person", "type": "definition", "offset": [727, 743]}, {"key": "in-connection-with", "type": "clause", "offset": [753, 771]}, {"key": "contemplated-hereby", "type": "clause", "offset": [805, 824]}, {"key": "agreement-or", "type": "definition", "offset": [860, 872]}, {"key": "other-document", "type": "definition", "offset": [972, 986]}, {"key": "any-loss", "type": "definition", "offset": [1169, 1177]}, {"key": "in-the-transmission", "type": "clause", "offset": [1187, 1206]}, {"key": "in-order-to", "type": "clause", "offset": [1245, 1256]}, {"key": "a-drawing", "type": "definition", "offset": [1262, 1271]}, {"key": "payment-by-the", "type": "clause", "offset": [1310, 1324]}, {"key": "comply-with-the", "type": "clause", "offset": [1434, 1449]}, {"key": "trustee-in-bankruptcy", "type": "clause", "offset": [1581, 1602]}, {"key": "for-the-benefit-of", "type": "definition", "offset": [1635, 1653]}, {"key": "other-representative", "type": "definition", "offset": [1689, 1709]}, {"key": "debtor-relief-law", "type": "definition", "offset": [1855, 1872]}, {"key": "similar-to", "type": "definition", "offset": [1944, 1954]}, {"key": "the-foregoing", "type": "definition", "offset": [1962, 1975]}, {"key": "available-to", "type": "definition", "offset": [2052, 2064]}, {"key": "the-borrower-shall", "type": "clause", "offset": [2117, 2135]}, {"key": "a-copy-of", "type": "clause", "offset": [2153, 2162]}, {"key": "in-the-event-of", "type": "clause", "offset": [2241, 2256]}, {"key": "borrower-will", "type": "clause", "offset": [2344, 2357]}, {"key": "notify-the", "type": "clause", "offset": [2370, 2380]}], "snippet": "The obligation of the Borrower to reimburse the L/C Issuer for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following:\n(i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan Document;\n(ii) the existence of any claim, counterclaim, setoff, defense or other right that the Borrower or any Subsidiary may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the L/C Issuer or any other Person, whether in connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction;\n(iii) any draft, demand, certificate or other document presented under such Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing under such Letter of Credit;\n(iv) any payment by the L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law; or\n(v) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance that might otherwise constitute a defense available to, or a discharge of, the Borrower or any Subsidiary. The Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with the Borrower\u2019s instructions or other irregularity, the Borrower will immediately notify the L/C Issuer. The Borrower shall be conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents unless such notice is given as aforesaid.", "size": 1144, "samples": [{"hash": "i9byIcsHNRW", "uri": "/contracts/i9byIcsHNRW#obligations-absolute", "label": "Credit Agreement (Texas Roadhouse, Inc.)", "score": 36.3127975464, "published": true}, {"hash": "7ge5WJvXZey", "uri": "/contracts/7ge5WJvXZey#obligations-absolute", "label": "Credit Agreement (Aar Corp)", "score": 35.162902832, "published": true}, {"hash": "9svFRubHOQB", "uri": "/contracts/9svFRubHOQB#obligations-absolute", "label": "Credit Agreement (Texas Roadhouse, Inc.)", "score": 34.3771400452, "published": true}], "hash": "0da52bee38ce5c6725780ef742b04d4a", "id": 1}, {"snippet_links": [{"key": "obligation-of-the-borrower", "type": "clause", "offset": [4, 30]}, {"key": "to-reimburse", "type": "definition", "offset": [31, 43]}, {"key": "the-l", "type": "clause", "offset": [44, 49]}, {"key": "each-letter-of-credit", "type": "clause", "offset": [82, 103]}, {"key": "to-repay", "type": "clause", "offset": [108, 116]}, {"key": "unconditional-and-irrevocable", "type": "clause", "offset": [155, 184]}, {"key": "in-accordance-with", "type": "clause", "offset": [213, 231]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [236, 259]}, {"key": "under-all-circumstances", "type": "clause", "offset": [260, 283]}, {"key": "lack-of-validity", "type": "clause", "offset": [318, 334]}, {"key": "loan-document", "type": "definition", "offset": [408, 421]}, {"key": "at-any-time", "type": "clause", "offset": [546, 557]}, {"key": "any-person", "type": "clause", "offset": [629, 639]}, {"key": "any-other-person", "type": "definition", "offset": [727, 743]}, {"key": "in-connection-with", "type": "clause", "offset": [753, 771]}, {"key": "contemplated-hereby", "type": "clause", "offset": [805, 824]}, {"key": "agreement-or", "type": "definition", "offset": [860, 872]}, {"key": "other-document", "type": "definition", "offset": [972, 986]}, {"key": "any-loss", "type": "definition", "offset": [1169, 1177]}, {"key": "in-the-transmission", "type": "clause", "offset": [1187, 1206]}, {"key": "in-order-to", "type": "clause", "offset": [1245, 1256]}, {"key": "a-drawing", "type": "definition", "offset": [1262, 1271]}, {"key": "waiver-by-the", "type": "clause", "offset": [1306, 1319]}, {"key": "protection-of-the", "type": "clause", "offset": [1406, 1423]}, {"key": "demand-for-payment", "type": "definition", "offset": [1538, 1556]}, {"key": "form-of", "type": "definition", "offset": [1643, 1650]}, {"key": "in-respect-of", "type": "definition", "offset": [1700, 1713]}, {"key": "date-of", "type": "clause", "offset": [1795, 1802]}, {"key": "authorized-by", "type": "definition", "offset": [1915, 1928]}, {"key": "payment-by-the", "type": "clause", "offset": [1983, 1997]}, {"key": "comply-with-the", "type": "clause", "offset": [2107, 2122]}, {"key": "trustee-in-bankruptcy", "type": "clause", "offset": [2254, 2275]}, {"key": "for-the-benefit-of", "type": "definition", "offset": [2308, 2326]}, {"key": "other-representative", "type": "definition", "offset": [2362, 2382]}, {"key": "debtor-relief-law", "type": "definition", "offset": [2528, 2545]}, {"key": "similar-to", "type": "definition", "offset": [2620, 2630]}, {"key": "the-foregoing", "type": "definition", "offset": [2638, 2651]}, {"key": "available-to", "type": "definition", "offset": [2728, 2740]}, {"key": "the-borrower-shall", "type": "clause", "offset": [2793, 2811]}, {"key": "a-copy-of", "type": "clause", "offset": [2829, 2838]}, {"key": "in-the-event-of", "type": "clause", "offset": [2917, 2932]}, {"key": "borrower-will", "type": "clause", "offset": [3020, 3033]}, {"key": "notify-the", "type": "clause", "offset": [3043, 3053]}], "snippet": "The obligation of the Borrower to reimburse the L/C Issuer for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following:\n(i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan Document;\n(ii) the existence of any claim, counterclaim, setoff, defense or other right that the Borrower or any Subsidiary may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the L/C Issuer or any other Person, whether in connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction;\n(iii) any draft, demand, certificate or other document presented under such Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing under such Letter of Credit;\n(iv) waiver by the L/C Issuer of any requirement that exists for the L/C Issuer\u2019s protection and not the protection of the Borrower or any waiver by the L/C Issuer which does not in fact materially prejudice the Borrower;\n(v) honor of a demand for payment presented electronically even if such Letter of Credit requires that demand be in the form of a draft;\n(vi) any payment made by the L/C Issuer in respect of an otherwise complying item presented after the date specified as the expiration date of, or the date by which documents must be received under such Letter of Credit if presentation after such date is authorized by the UCC, the ISP or the UCP, as applicable;\n(vii) any payment by the L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law; or\n(viii) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance that might otherwise constitute a defense available to, or a discharge of, the Borrower or any Subsidiary. The Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with the Borrower\u2019s instructions or other irregularity, the Borrower will promptly notify the L/C Issuer. The Borrower shall be conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents unless such notice is given as aforesaid.", "size": 583, "samples": [{"hash": "tR035RJsW0", "uri": "/contracts/tR035RJsW0#obligations-absolute", "label": "Credit Agreement (Citrix Systems Inc)", "score": 30.9028072357, "published": true}, {"hash": "7SZbQ19OwIS", "uri": "/contracts/7SZbQ19OwIS#obligations-absolute", "label": "Credit Agreement (Varian Medical Systems Inc)", "score": 27.2546195984, "published": true}, {"hash": "1Bc89KWAQaC", "uri": "/contracts/1Bc89KWAQaC#obligations-absolute", "label": "Credit Agreement (Varian Medical Systems Inc)", "score": 26.6769332886, "published": true}], "hash": "873e8b98f08e0e782e244eec0da1fa08", "id": 9}, {"snippet_links": [{"key": "absolute-and-unconditional", "type": "clause", "offset": [57, 83]}, {"key": "the-issuing-lender", "type": "clause", "offset": [230, 248]}, {"key": "a-letter-of-credit", "type": "definition", "offset": [269, 287]}, {"key": "any-other-person", "type": "definition", "offset": [291, 307]}, {"key": "responsible-for", "type": "clause", "offset": [395, 410]}, {"key": "reimbursement-obligations", "type": "definition", "offset": [431, 456]}, {"key": "section-35", "type": "clause", "offset": [463, 474]}, {"key": "affected-by", "type": "definition", "offset": [488, 499]}, {"key": "genuineness-of-documents", "type": "clause", "offset": [537, 561]}, {"key": "any-letter-of-credit", "type": "clause", "offset": [746, 766]}, {"key": "other-party", "type": "definition", "offset": [774, 785]}, {"key": "of-the-borrower", "type": "clause", "offset": [861, 876]}, {"key": "delivery-of", "type": "clause", "offset": [1065, 1076]}, {"key": "in-connection-with", "type": "clause", "offset": [1121, 1139]}, {"key": "errors-or-omissions", "type": "clause", "offset": [1173, 1192]}, {"key": "court-of-competent-jurisdiction", "type": "clause", "offset": [1242, 1273]}, {"key": "gross-negligence-or-willful-misconduct", "type": "definition", "offset": [1300, 1338]}, {"key": "the-borrower-agrees", "type": "clause", "offset": [1362, 1381]}, {"key": "action-taken", "type": "clause", "offset": [1391, 1403]}, {"key": "liability-of-the", "type": "clause", "offset": [1649, 1665]}, {"key": "to-the-borrower", "type": "clause", "offset": [1681, 1696]}], "snippet": "The Borrower\u2019s obligations under this Section 3 shall be absolute and unconditional under any and all circumstances and irrespective of any setoff, counterclaim or defense to payment that the Borrower may have or have had against the Issuing Lender, any beneficiary of a Letter of Credit or any other Person. The Borrower also agrees with the Issuing Lender that the Issuing Lender shall not be responsible for, and the Borrower\u2019s Reimbursement Obligations under Section 3.5 shall not be affected by, among other things, the validity or genuineness of documents or of any endorsements thereon, even though such documents shall in fact prove to be invalid, fraudulent or forged, or any dispute between or among the Borrower and any beneficiary of any Letter of Credit or any other party to which such Letter of Credit may be transferred or any claims whatsoever of the Borrower against any beneficiary of such Letter of Credit or any such transferee. The Issuing Lender shall not be liable for any error, omission, interruption or delay in transmission, dispatch or delivery of any message or advice, however transmitted, in connection with any Letter of Credit, except for errors or omissions found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from the gross negligence or willful misconduct of the Issuing Lender. The Borrower agrees that any action taken or omitted by the Issuing Lender under or in connection with any Letter of Credit or the related drafts or documents, if done in the absence of gross negligence or willful misconduct, shall be binding on the Borrower and shall not result in any liability of the Issuing Lender to the Borrower.", "size": 614, "samples": [{"hash": "5BlDR1zlzyM", "uri": "/contracts/5BlDR1zlzyM#obligations-absolute", "label": "Tenth Amendment and Extension Agreement (Air Lease Corp)", "score": 36.3401794434, "published": true}, {"hash": "5E6HXnWPteA", "uri": "/contracts/5E6HXnWPteA#obligations-absolute", "label": "Credit Agreement (Universal Health Services Inc)", "score": 35.7488021851, "published": true}, {"hash": "3RvOqz2wg9s", "uri": "/contracts/3RvOqz2wg9s#obligations-absolute", "label": "Credit Agreement (Air Lease Corp)", "score": 35.3271713257, "published": true}], "hash": "e399027e343cc7b2d179ae62dc086e53", "id": 8}, {"snippet_links": [{"key": "obligation-to-reimburse", "type": "clause", "offset": [15, 38]}, {"key": "lc-disbursements", "type": "definition", "offset": [39, 55]}, {"key": "in-clause", "type": "clause", "offset": [68, 77]}, {"key": "unconditional-and-irrevocable", "type": "clause", "offset": [122, 151]}, {"key": "in-accordance-with", "type": "clause", "offset": [185, 203]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [208, 231]}, {"key": "lack-of-validity", "type": "clause", "offset": [303, 319]}, {"key": "any-letter-of-credit", "type": "clause", "offset": [341, 361]}, {"key": "a-letter-of-credit", "type": "definition", "offset": [464, 482]}, {"key": "payment-by", "type": "clause", "offset": [616, 626]}, {"key": "issuing-bank", "type": "clause", "offset": [630, 642]}, {"key": "comply-with-the", "type": "clause", "offset": [732, 747]}, {"key": "other-event-or-circumstance", "type": "clause", "offset": [792, 819]}, {"key": "similar-to", "type": "definition", "offset": [847, 857]}, {"key": "the-foregoing", "type": "definition", "offset": [865, 878]}, {"key": "provisions-of-this-section", "type": "clause", "offset": [904, 930]}, {"key": "provide-a", "type": "definition", "offset": [986, 995]}, {"key": "right-of-setoff", "type": "clause", "offset": [996, 1011]}, {"key": "the-administrative-agent", "type": "clause", "offset": [1067, 1091]}, {"key": "the-lenders", "type": "clause", "offset": [1093, 1104]}, {"key": "related-parties", "type": "clause", "offset": [1144, 1159]}, {"key": "in-connection-with", "type": "clause", "offset": [1220, 1238]}, {"key": "the-issuance", "type": "clause", "offset": [1239, 1251]}, {"key": "transfer-of", "type": "definition", "offset": [1255, 1266]}, {"key": "failure-to-make", "type": "clause", "offset": [1306, 1321]}, {"key": "delivery-of", "type": "clause", "offset": [1498, 1509]}, {"key": "other-communication", "type": "clause", "offset": [1531, 1550]}, {"key": "relating-to", "type": "definition", "offset": [1560, 1571]}, {"key": "a-drawing", "type": "definition", "offset": [1634, 1643]}, {"key": "interpretation-of", "type": "clause", "offset": [1670, 1687]}, {"key": "technical-terms", "type": "clause", "offset": [1688, 1703]}, {"key": "control-of", "type": "definition", "offset": [1754, 1764]}, {"key": "to-the-borrower", "type": "clause", "offset": [1877, 1892]}, {"key": "to-the-extent", "type": "clause", "offset": [1893, 1906]}, {"key": "direct-damages", "type": "clause", "offset": [1914, 1928]}, {"key": "consequential-or-punitive-damages", "type": "clause", "offset": [1963, 1996]}, {"key": "in-respect-of", "type": "definition", "offset": [2005, 2018]}, {"key": "by-the-borrower", "type": "clause", "offset": [2043, 2058]}, {"key": "applicable-law", "type": "definition", "offset": [2086, 2100]}, {"key": "caused-by", "type": "clause", "offset": [2136, 2145]}, {"key": "failure-to-exercise", "type": "clause", "offset": [2166, 2185]}, {"key": "and-other-documents", "type": "clause", "offset": [2223, 2242]}, {"key": "the-parties-hereto", "type": "clause", "offset": [2309, 2327]}, {"key": "gross-negligence-or-willful-misconduct", "type": "definition", "offset": [2368, 2406]}, {"key": "finally-determined", "type": "definition", "offset": [2442, 2460]}, {"key": "court-of-competent-jurisdiction", "type": "clause", "offset": [2466, 2497]}, {"key": "such-determination", "type": "definition", "offset": [2565, 2583]}, {"key": "without-limiting-the-generality", "type": "clause", "offset": [2621, 2652]}, {"key": "the-parties-agree-that", "type": "clause", "offset": [2662, 2684]}, {"key": "with-respect-to", "type": "clause", "offset": [2686, 2701]}, {"key": "compliance-with-the-terms", "type": "clause", "offset": [2770, 2795]}, {"key": "sole-discretion", "type": "clause", "offset": [2847, 2862]}, {"key": "payment-upon", "type": "clause", "offset": [2887, 2899]}, {"key": "responsibility-for", "type": "clause", "offset": [2923, 2941]}, {"key": "further-investigation", "type": "clause", "offset": [2942, 2963]}, {"key": "any-notice", "type": "clause", "offset": [2979, 2989]}, {"key": "strict-compliance", "type": "definition", "offset": [3108, 3125]}], "snippet": "The Borrower\u2019s obligation to reimburse LC Disbursements as provided in clause (e) of this Section 2.06 shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any Letter of Credit or this Agreement, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by an Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of Credit, or (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section 2.06, constitute a legal or equitable discharge of, or provide a right of setoff against, the Borrower\u2019s obligations hereunder. Neither the Administrative Agent, the Lenders nor any Issuing Bank, nor any of their Related Parties, shall have any liability or responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising from causes beyond the control of any Issuing Bank; provided, that the foregoing shall not be construed to excuse any Issuing Bank from liability to the Borrower to the extent of any direct damages (as opposed to special, indirect, consequential or punitive damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower that are caused by such Issuing Bank\u2019s failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part of an Issuing Bank (as finally determined by a court of competent jurisdiction), such Issuing Bank shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without limiting the generality thereof, the parties agree that, with respect to documents presented which appear on their face to be in substantial compliance with the terms of a Letter of Credit, an Issuing Bank may, in its sole discretion, either accept and make payment upon such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit.", "size": 623, "samples": [{"hash": "dCDFSGzmoVr", "uri": "/contracts/dCDFSGzmoVr#obligations-absolute", "label": "Credit Agreement (Quinstreet, Inc)", "score": 37.0027389526, "published": true}, {"hash": "guPIkj2HRy2", "uri": "/contracts/guPIkj2HRy2#obligations-absolute", "label": "Credit Agreement (Flywire Corp)", "score": 36.8576316833, "published": true}, {"hash": "kc2siL11UNW", "uri": "/contracts/kc2siL11UNW#obligations-absolute", "label": "Credit Agreement (Udemy, Inc.)", "score": 36.4195747375, "published": true}], "hash": "4fc59bbb277d11b14edac435abdaaecd", "id": 7}, {"snippet_links": [{"key": "absolute-and-unconditional", "type": "clause", "offset": [57, 83]}, {"key": "issuing-lender", "type": "clause", "offset": [234, 248]}, {"key": "a-letter-of-credit", "type": "definition", "offset": [269, 287]}, {"key": "any-other-person", "type": "definition", "offset": [291, 307]}, {"key": "gross-negligence-or-willful-misconduct", "type": "definition", "offset": [372, 410]}, {"key": "responsible-for", "type": "clause", "offset": [468, 483]}, {"key": "reimbursement-obligations", "type": "definition", "offset": [504, 529]}, {"key": "section-35", "type": "clause", "offset": [536, 547]}, {"key": "affected-by", "type": "definition", "offset": [561, 572]}, {"key": "genuineness-of-documents", "type": "clause", "offset": [610, 634]}, {"key": "any-letter-of-credit", "type": "clause", "offset": [819, 839]}, {"key": "other-party", "type": "definition", "offset": [847, 858]}, {"key": "of-the-borrower", "type": "clause", "offset": [934, 949]}, {"key": "delivery-of", "type": "clause", "offset": [1133, 1144]}, {"key": "in-connection-with", "type": "clause", "offset": [1189, 1207]}, {"key": "errors-or-omissions", "type": "clause", "offset": [1241, 1260]}, {"key": "the-gross", "type": "clause", "offset": [1276, 1285]}, {"key": "the-borrower-agrees", "type": "clause", "offset": [1343, 1362]}, {"key": "action-taken", "type": "clause", "offset": [1372, 1384]}, {"key": "liability-of", "type": "clause", "offset": [1629, 1641]}, {"key": "to-the-borrower", "type": "clause", "offset": [1662, 1677]}, {"key": "provided-that", "type": "clause", "offset": [1679, 1692]}, {"key": "the-borrower-shall", "type": "clause", "offset": [1693, 1711]}, {"key": "by-the-borrower", "type": "clause", "offset": [1806, 1821]}, {"key": "to-the-extent", "type": "clause", "offset": [1822, 1835]}, {"key": "caused-by", "type": "clause", "offset": [1836, 1845]}, {"key": "issued-by", "type": "definition", "offset": [1986, 1995]}, {"key": "terms-of", "type": "clause", "offset": [2017, 2025]}, {"key": "failing-to-pay", "type": "clause", "offset": [2117, 2131]}, {"key": "complying-with", "type": "clause", "offset": [2223, 2237]}, {"key": "terms-and-conditions-of", "type": "clause", "offset": [2242, 2265]}], "snippet": "The Borrower\u2019s obligations under this Section 3 shall be absolute and unconditional under any and all circumstances and irrespective of any setoff, counterclaim or defense to payment that the Borrower may have or have had against any Issuing Lender, any beneficiary of a Letter of Credit or any other Person. The Borrower also agrees with each Issuing Lender that, absent gross negligence or willful misconduct of such Issuing Lender, such Issuing Lender shall not be responsible for, and the Borrower\u2019s Reimbursement Obligations under Section 3.5 shall not be affected by, among other things, the validity or genuineness of documents or of any endorsements thereon, even though such documents shall in fact prove to be invalid, fraudulent or forged, or any dispute between or among the Borrower and any beneficiary of any Letter of Credit or any other party to which such Letter of Credit may be transferred or any claims whatsoever of the Borrower against any beneficiary of such Letter of Credit or any such transferee. No Issuing Lender shall be liable for any error, omission, interruption or delay in transmission, dispatch or delivery of any message or advice, however transmitted, in connection with any Letter of Credit, except for errors or omissions resulting from the gross negligence or willful misconduct of such Issuing Lender. The Borrower agrees that any action taken or omitted by an Issuing Lender under or in connection with any Letter of Credit or the related drafts or documents, if done in the absence of gross negligence or willful misconduct, shall be binding on the Borrower and shall not result in any liability of such Issuing Lender to the Borrower; provided that the Borrower shall not be precluded from asserting any claim for direct (but not consequential) damages suffered by the Borrower to the extent caused by (i) the gross negligence or willful misconduct of such Issuing Lender in determining whether a request presented under any Letter of Credit issued by it complied with the terms of such Letter of Credit or (ii) such Issuing Lender\u2019s willful failure or gross negligence in failing to pay under any Letter of Credit issued by it after the presentation to it of a request strictly complying with the terms and conditions of such Letter of Credit.", "size": 708, "samples": [{"hash": 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"similar-to", "type": "definition", "offset": [2260, 2270]}, {"key": "the-foregoing", "type": "definition", "offset": [2278, 2291]}, {"key": "available-to", "type": "definition", "offset": [2368, 2380]}, {"key": "provided-that", "type": "clause", "offset": [2417, 2430]}, {"key": "to-the-borrower", "type": "clause", "offset": [2492, 2507]}, {"key": "to-the-extent", "type": "clause", "offset": [2508, 2521]}, {"key": "direct-damages", "type": "clause", "offset": [2529, 2543]}, {"key": "consequential-damages", "type": "clause", "offset": [2559, 2580]}, {"key": "by-the-borrower", "type": "clause", "offset": [2620, 2635]}, {"key": "applicable-law", "type": "definition", "offset": [2663, 2677]}, {"key": "caused-by", "type": "clause", "offset": [2713, 2722]}, {"key": "gross-negligence-or-willful-misconduct", "type": "definition", "offset": [2741, 2779]}, {"key": "and-other-documents", "type": "clause", "offset": [2812, 2831]}, {"key": "a-letter-of-credit", "type": "definition", "offset": [2848, 2866]}], "snippet": "The obligation of the Borrower to reimburse the relevant L/C Issuer for each drawing under each Letter of Credit issued by it and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following:\n(i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other agreement or instrument relating thereto;\n(ii) the existence of any claim, counterclaim, setoff, defense or other right that any Loan Party may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the relevant L/C Issuer or any other Person, whether in connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction;\n(iii) any draft, demand, certificate or other document presented under such Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing under such Letter of Credit;\n(iv) any payment by the relevant L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the relevant L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law;\n(v) any exchange, release or nonperfection of any Collateral, or any release or amendment or waiver of or consent to departure from the Guaranty or any other guarantee, for all or any of the Obligations any Loan Party in respect of such Letter of Credit; or\n(vi) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance that might otherwise constitute a defense available to, or a discharge of, any Loan Party; provided that the foregoing shall not excuse any L/C Issuer from liability to the Borrower to the extent of any direct damages (as opposed to consequential damages, claims in respect of which are waived by the Borrower to the extent permitted by applicable Law) suffered by the Borrower that are caused by such L/C Issuer\u2019s gross negligence or willful misconduct when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof.", "size": 522, "samples": [{"hash": 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"to-the-extent", "type": "clause", "offset": [1945, 1958]}, {"key": "direct-damages", "type": "clause", "offset": [1966, 1980]}, {"key": "consequential-damages", "type": "clause", "offset": [1996, 2017]}, {"key": "in-respect-of", "type": "definition", "offset": [2026, 2039]}, {"key": "by-the-borrower", "type": "clause", "offset": [2064, 2079]}, {"key": "applicable-law", "type": "definition", "offset": [2107, 2121]}, {"key": "caused-by", "type": "clause", "offset": [2157, 2166]}, {"key": "failure-to-exercise", "type": "clause", "offset": [2186, 2205]}, {"key": "and-other-documents", "type": "clause", "offset": [2243, 2262]}, {"key": "the-parties-hereto", "type": "clause", "offset": [2329, 2347]}, {"key": "gross-negligence-or-willful-misconduct", "type": "definition", "offset": [2388, 2426]}, {"key": "finally-determined", "type": "definition", "offset": [2463, 2481]}, {"key": "court-of-competent-jurisdiction", "type": "clause", "offset": [2487, 2518]}, {"key": "such-determination", "type": "definition", "offset": [2599, 2617]}, {"key": "without-limiting-the-generality", "type": "clause", "offset": [2655, 2686]}, {"key": "the-parties-agree-that", "type": "clause", "offset": [2696, 2718]}, {"key": "with-respect-to", "type": "clause", "offset": [2720, 2735]}, {"key": "compliance-with-the-terms", "type": "clause", "offset": [2804, 2829]}, {"key": "sole-discretion", "type": "clause", "offset": [2882, 2897]}, {"key": "payment-upon", "type": "clause", "offset": [2922, 2934]}, {"key": "responsibility-for", "type": "clause", "offset": [2958, 2976]}, {"key": "further-investigation", "type": "clause", "offset": [2977, 2998]}, {"key": "any-notice", "type": "clause", "offset": [3014, 3024]}, {"key": "strict-compliance", "type": "definition", "offset": [3143, 3160]}], "snippet": "The Borrower\u2019s obligation to reimburse LC Disbursements as provided in Section 2.08(e) shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any Letter of Credit, any Letter of Credit Agreement or this Agreement, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of Credit or any Letter of Credit Agreement, or (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section 2.08(f), constitute a legal or equitable discharge of, or provide a right of setoff against, the Borrower\u2019s obligations hereunder. Neither the Administrative Agent, the Lenders nor the Issuing Bank, nor any of their Related Parties shall have any liability or responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising from causes beyond the control of the Issuing Bank; provided that the foregoing shall not be construed to excuse the Issuing Bank from liability to the Borrower to the extent of any direct damages (as opposed to consequential damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower that are caused by the Issuing Bank\u2019s failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part of the Issuing Bank (as finally determined by a court of competent jurisdiction), the Issuing Bank shall be deemed to have exercised all requisite care in each such determination. In furtherance of the foregoing and without limiting the generality thereof, the parties agree that, with respect to documents presented which appear on their face to be in substantial compliance with the terms of a Letter of Credit, the Issuing Bank may, in its sole discretion, either accept and make payment upon such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit.", "size": 759, "samples": [{"hash": "1xRJHhBk0oC", "uri": "/contracts/1xRJHhBk0oC#obligations-absolute", "label": "Senior Secured Revolving Credit Agreement (Viper Energy Partners LP)", "score": 34.1444206238, "published": true}, {"hash": "jUXf8jiFwZC", "uri": "/contracts/jUXf8jiFwZC#obligations-absolute", "label": "Credit Agreement (HighPeak Energy, Inc.)", "score": 33.7939758301, "published": true}, {"hash": "4xjWp6KWD2W", "uri": "/contracts/4xjWp6KWD2W#obligations-absolute", "label": "Credit Agreement (Chord Energy Corp)", "score": 33.5119781494, "published": true}], "hash": "73f1cf05fe794101a8ab094a61d95f88", "id": 4}], "next_curs": "Cl0SV2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjkLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih1vYmxpZ2F0aW9ucy1hYnNvbHV0ZSMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"title": "Obligations Absolute", "children": [["", ""], ["counterparts", "Counterparts"], ["termination", "Termination"], ["defined-terms", "Defined Terms"], ["security-agreement", "Security Agreement"]], "size": 21650, "parents": [["letters-of-credit", "Letters of Credit"], ["the-credits", "The Credits"], ["miscellaneous", "Miscellaneous"], ["the-commitments-and-credit-extensions", "The Commitments and Credit Extensions"], ["facility-lcs", "Facility LCS"]], "id": "obligations-absolute", "related": [["obligation-absolute", "Obligation Absolute", "Obligation Absolute"], ["payment-obligations-absolute", "Payment Obligations Absolute", "Payment <strong>Obligations Absolute</strong>"], ["obligations-of-company-unconditional", "Obligations of Company Unconditional", "Obligations of Company Unconditional"], ["obligations-unconditional", "Obligations Unconditional", "Obligations Unconditional"], ["obligations-and-rights", "Obligations and Rights", "Obligations and Rights"]], "related_snippets": [], "updated": "2026-06-03T05:49:28+00:00", "also_ask": ["What negotiation leverage exists to limit or qualify 'absolute' obligations?", "What essential carve-outs or exceptions should be included in an 'Obligations Absolute' clause?", "What are the most common legal pitfalls or unenforceability risks with absolute obligations?", "How do courts interpret and enforce 'Obligations Absolute' compared to 'best efforts' or 'commercially reasonable efforts' clauses?", "What industry-specific standards or precedents should inform the drafting of this clause?"], "drafting_tip": "State obligations unconditionally, specify exceptions explicitly, and avoid qualifiers to ensure clarity, prevent loopholes, and guarantee enforceability.", "explanation": "The \"Obligations Absolute\" clause establishes that a party's duties under the contract are unconditional and must be fulfilled regardless of external circumstances or difficulties. In practice, this means that the obligated party cannot use factors such as third-party failures, unforeseen events, or changes in law as excuses for non-performance. This clause ensures that the contract's core commitments are strictly enforced, providing certainty and minimizing the risk of disputes over whether obligations can be avoided or delayed."}, "json": true, "cursor": ""}}