Obligations Are Unconditional. The payment and performance of the OBLIGATIONS shall be the absolute and unconditional duty and obligation of the GUARANTOR, and shall be independent of any defense or any rights of setoff, recoupment or counterclaim which the GUARANTOR might otherwise have against the LENDER, and the GUARANTOR shall pay and perform these OBLIGATIONS, free of any deductions and without abatement, diminution or setoff. Until such time as the OBLIGATIONS have been fully paid and performed, the GUARANTOR: (a) shall not suspend or discontinue any payments provided for herein; (b) shall perform and observe all of the covenants and agreements contained in this GUARANTY; and (c) shall not terminate or attempt to terminate this GUARANTY for any reason. No delay by the LENDER in making demand on the GUARANTOR for satisfaction of the OBLIGATIONS shall prejudice or in any way impair the LENDER'S ability to enforce this GUARANTY.
Obligations Are Unconditional. The payment and performance of the OBLIGATIONS shall be the absolute and unconditional duty and obligation of the BORROWER, and shall be independent of any defense or any rights of set-off, recoupment or counterclaim which the BORROWER might otherwise have against any of the SECURED PARTIES. The BORROWER shall pay the payments of the principal and interest to be made upon the OBLIGATIONS, free of any deductions and without abatement, diminution or set-off other than those herein expressly provided. Until the OBLIGATIONS have been fully paid and performed, the BORROWER shall not: (a) suspend or discontinue any payments required by the CREDIT DOCUMENTS; and (b) fail to perform and observe all of the BORROWER’S covenants and agreements set forth in the CREDIT DOCUMENTS.
Obligations Are Unconditional. The payment and performance of the OBLIGATIONS shall be the absolute and unconditional duty and obligation of the BORROWER, and shall be independent of any defense or any rights of set-off, recoupment or counterclaim which the BORROWER might otherwise have against the LENDER, and the BORROWER shall pay absolutely during the terms of the LOANS the payments of the principal and interest to be made on account of the LOANS and all other payments required hereunder, free of any deductions and without abatement, diminution or set-off other than those herein expressly provided. Until such time as the OBLIGATIONS have been fully paid and performed, the BORROWER: (a) shall not suspend or discontinue any payments provided for herein and in the NOTES; (b) shall perform and observe all of the BORROWER'S other covenants and agreements contained in the LOAN DOCUMENTS, including but not limited to making all payments required to be made to the LENDER; and (c) shall not terminate or attempt to terminate the LOAN DOCUMENTS for any cause.
Obligations Are Unconditional. The payment and performance of the OBLIGATIONS shall be the absolute and unconditional duty and obligation of the GUARANTOR, and shall be independent of any defense or any rights of setoff, recoupment or counterclaim which the GUARANTOR might otherwise have against the SECURED PARTIES, and the GUARANTOR shall pay absolutely all payments required to be made on the OBLIGATIONS, free of any deductions and without abatement, diminution or setoff other than those herein expressly provided.
Obligations Are Unconditional. The payment and performance of ----------------------------- the obligations hereunder or secured hereby shall be the absolute and unconditional duty and obligation of Synbiotics, and, except as otherwise provided for in the Royalty Agreement or the Manufacturing Agreement, shall be independent of any defense or any rights of set-off, recoupment or counterclaim which Synbiotics might otherwise have against the Secured Party, and, except as otherwise provided for in the Royalty Agreement or the Manufacturing Agreement, Synbiotics shall pay absolutely all payments required hereunder, free of any deductions and without abatement, diminution or set-off. Until such time as the obligations hereunder or secured hereby have been fully paid and performed, Synbiotics (a) shall not suspend or discontinue any payments provided for in the Note and except as otherwise provided for in the Royalty Agreement or the Manufacturing Agreement, (b) shall perform and observe all of Synbiotics's obligations contained herein, and (c) shall not terminate or attempt to terminate this Agreement for any cause.
Obligations Are Unconditional. 30 Section 22. Defenses Against Borrowers.....................................................................30
Obligations Are Unconditional. The payment and performance of the Obligations shall be the absolute and unconditional duty and obligation of the Borrower, and shall be independent of any defense or any rights of set-off, recoupment or counterclaim which the Borrower might otherwise have against the Lender. The Borrower shall pay the payments of the principal and interest to be made upon the Obligations, free of any deductions and without abatement, diminution or set-off other than those herein expressly provided. Until such time as the Obligations have been fully paid and performed, the Borrower shall not: (a) suspend or discontinue any payments required by the Loan Documents; and (b) fail to perform and observe all of the Borrower’s covenants and agreements set forth in the Loan Documents.
Obligations Are Unconditional. The payment and performance of the OBLIGATIONS shall be the absolute and unconditional joint and several duty and obligation of each of the BORROWERS, and shall be independent of any defense or any rights of set-off, recoupment or counterclaim which either of the BORROWERS might otherwise have against the LENDER. The BORROWERS shall pay the payments of the principal and interest to be made upon the OBLIGATIONS, free of any deductions and without abatement, diminution or set-off other than those herein expressly provided. Until such time as the OBLIGATIONS have been fully paid and performed, neither of the BORROWERS shall: (a) suspend or discontinue any payments required by the LOAN DOCUMENTS; and (b) fail to perform and observe all of each BORROWER'S covenants and agreements set forth in the LOAN DOCUMENTS.
Obligations Are Unconditional. The payment and performance of this AGREEMENT shall be the absolute and unconditional duty and obligation of each EQUITY HOLDER, and shall be independent of any defense or any rights of setoff, recoupment or counterclaim which each EQUITY HOLDER might otherwise have against the LENDER; provided, however, that the LENDER acknowledges and agrees that (except for the obligations of STERLING, which are joint and several as to each entity that is collectively defined herein as being “STERLING”) the obligations of the EQUITY HOLDER hereunder are several and not joint. Each EQUITY HOLDER shall pay and perform the obligations under this AGREEMENT, free of any deductions and without abatement, diminution or setoff. Until such time as the LOAN has been fully paid and the LENDER’s obligations thereunder have been terminated, the EQUITY HOLDER shall: (a) not suspend or discontinue any payments provided for herein; (b) perform and observe all of the covenants and agreements contained in this AGREEMENT; and (c) not terminate or attempt to terminate this AGREEMENT for any reason. The LENDER shall have no obligation to make any CALL NOTICE and the failure to deliver any CALL NOTICE after the occurrence of a MONETARY DEFAULT or any other EVENT OF DEFAULT shall in no way limit or impair the LENDER’s ability to make any future CALL NOTICE and enforce the terms and provisions of this AGREEMENT; provided, however, that no CALL NOTICE shall be deemed to have been delivered until a CALL NOTICE has been delivered to each EQUITY HOLDER.
Obligations Are Unconditional. The payment and performance of the OBLIGATIONS shall be the absolute and unconditional joint and several duty and obligation of each of the BORROWERS, and shall be independent of any defense or any rights of set-off, recoupment or counterclaim which any of the BORROWERS might otherwise have against the LENDER. The BORROWERS shall pay the payments of the principal and interest to be made upon the OBLIGATIONS, free of any deductions and without abatement, diminution or set-off other than those herein expressly provided. Until such time as the OBLIGATIONS have been fully paid and performed, none of the BORROWERS shall: (a) suspend or discontinue any payments required by the LOAN DOCUMENTS; and (b) fail to perform and observe all of each BORROWERS covenants and agreements set forth in the LOAN DOCUMENTS.
