Obligations of Borrower Unconditional. Nothing contained in this Section 10 or elsewhere in this Agreement or in the Note is intended to or shall impair, as between Borrower and Lender, the obligations of Borrower, which are absolute and unconditional, to pay to Lender the principal of (premium, if any), and interest on, the Loan as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of Lender and creditors of Borrower other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent any Holder from exercising all remedies otherwise permitted by applicable law upon the occurrence of a default or event of default under this Agreement, subject to the rights, if any, under this Section 10 of the holders of Senior Indebtedness in respect of cash, property or securities of Borrower received upon the exercise of any such remedy. The failure to make a payment on account of principal of, or interest on, the Loan by reason of any provision of this Section 10 shall not be construed as preventing the occurrence of a Default or an Event of Default hereunder.
Obligations of Borrower Unconditional. Nothing contained in this Section 8 or elsewhere in this Agreement or in the Notes is intended to or shall impair, as among Borrower and the Lenders, the obligation of Borrower, which is absolute and unconditional, to pay to the Lenders the principal of and interest on the Loans and Notes as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Lenders and creditors of Borrower other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Lenders or the Arranger on their behalf from exercising all remedies otherwise permitted by applicable law upon default under this Agreement, subject to the rights, if any, under this Section 8 of the holders of the Senior Indebtedness in respect of cash, property or securities of Borrower received upon the exercise of any such remedy. Without limiting the generality of the foregoing, nothing contained in this Section 8 shall restrict the right of the Arranger or the Lenders to take any action to declare the Securities to be due and payable prior to their stated maturity pursuant to Section 7 or to pursue any rights or remedies hereunder; provided, however, that all Senior Indebtedness then due and payable shall first -------- ------- be paid in full before the Lenders or the Arranger are entitled to receive any direct or indirect payment from Borrower of principal of or interest on the Loans and Notes.
Obligations of Borrower Unconditional. The obligations of the Borrower to make the payments required in Section 4.01 hereof and to perform and observe the other agreements contained herein shall be absolute and unconditional and shall not be subject to any defense or any right of setoff, counterclaim or recoupment arising out of (a) any breach by the Issuer, HPTE, the Trustee or the Collateral Agent of any obligation to the Borrower, whether hereunder or otherwise, or (b) any indebtedness or liability at any time owing to the Borrower by the Issuer, HPTE, the Trustee or the Collateral Agent, and, until such time as the principal or Redemption Price of and interest on the Series 2017 Bonds, shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture, the Borrower (i) will not suspend or discontinue any payments provided for in Section 4.01 hereof, (ii) will perform and observe all other agreements contained in this Series 2017 Loan Agreement, the Series 2017 Note, the Series 2017 Continuing Disclosure Agreement (Borrower), the Series 2017 Tax Regulatory Agreement and the Security Documents to which it is a party and (iii) except as otherwise provided herein, will not terminate this Series 2017 Loan Agreement, the Series 2017 Note, the Series 2017 Continuing Disclosure Agreement (Borrower), the Series 2017 Tax Regulatory Agreement or the Security Documents to which it is a party for any cause, or any failure of the Issuer, HPTE, the Trustee or the Collateral Agent to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or connected with this Series 2017 Loan Agreement. Nothing contained in this Section shall be construed to release the Issuer from the performance of any of the agreements on its part herein contained, and in the event the Issuer should fail to perform any such agreement on its part, the Borrower may institute such action against the Issuer as the Borrower may deem necessary to compel performance so long as such action does not abrogate the obligations of the Borrower contained in the first sentence of this Section.
Obligations of Borrower Unconditional. (a) Nothing contained in this Article VIII or elsewhere in this Agreement or in the Senior Subordinated Notes is intended to or shall impair, as among the Borrower and GOF, the obligation of the Borrower, which is absolute and unconditional, to pay to GOF and its successors and assigns the principal of and interest on the Senior Subordinated Notes as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the holders of the Senior Subordinated Notes and creditors of the Borrower other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent GOF and its successors or assigns from exercising all remedies otherwise permitted by applicable law upon default under this Agreement, subject to the rights, if any, under this Article VIII of the holders of the Senior Indebtedness in respect of cash, property or securities of the Borrower received upon the exercise of any such remedy.
Obligations of Borrower Unconditional. The obligations of the Borrower to make the payments required by Sections 8.01 and 8.03 shall be absolute and unconditional. Until the principal of and interest on the Bonds shall have been fully paid or provision for the payment of the Bonds made in accordance with this Agreement, the Borrower
Obligations of Borrower Unconditional. The payment of the Obligations and the performance under all of the Borrower’s agreements under the Loan Documents 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 Borrower might otherwise have against the Lender, and the Borrower shall pay absolutely all payments of principal, interest, fees and other amounts to be paid on account of the Obligations, free of any deduction and without abatement, diminution or set-off.
Obligations of Borrower Unconditional. The obligations of the Borrower to make the payments required by Sections 5.1 and 5.3 and to perform its other agreements contained in this Agreement and the Notes shall be absolute and unconditional. Until the principal of and interest on the Bonds shall have been fully paid or provision for the payment of the Bonds made in accordance with the Indenture, the Borrower (a) will not suspend or discontinue any payments provided for in Section 5.1 hereof, (b) will perform all its other agreements in this Agreement and the Notes and (c) will not terminate this Agreement for any cause including any acts or circumstances that may constitute failure of consideration, destruction of or damage to the Project, commercial frustration of purpose, any change in the laws of the United States or of the State or any political subdivision of either or any failure of the Issuer to perform any of its agreements, whether express or implied, or any duty, liability or obligation arising from or connected with this Agreement or the Notes.
Obligations of Borrower Unconditional. XXXXXXXX'S obligations under of this agreement are unconditional, and not subject to any defense or any right of set-off, counter-claim or recoupment arising out of any breach by LENDER of any obligation to BORROWER, pursuant to this agreement or any other, or out of any indebtedness or liability at any time owing to BORROWER by XXXXXX. BORROWER will not diminish, suspend or discontinue any payments provided in Article 8.14, or any other provision of this agreement. BORROWER will pay required payments in full when due, without any diminution whatsoever.
Obligations of Borrower Unconditional. The obligations of the Borrower to make all payments pursuant to this Agreement and to observe and perform all other covenants, conditions and agreements under the Basic Documents shall be absolute and unconditional, irrespective of any rights of setoff, recoupment or counterclaim the Borrower might otherwise have against the Authority or the Trustee. Subject to prepayment as provided in this Agreement, the Borrower shall not suspend or discontinue any such payment or fail to observe and perform any of its other covenants, conditions and agreements under the Basic Documents for any cause, including without limitation any acts or circumstances that may constitute an eviction or constructive eviction, failure of consideration, failure of title to any part or all of the Facility, or commercial frustration of purpose, or any damage to or destruction or condemnation of all or any part of the Facility or any change in the tax or other laws of the United States, the Commonwealth or any political subdivision of either or any failure of the Authority or any other person to observe and perform any covenant, condition or agreement, whether express or implied, or any duty, liability or obligation arising out of or in connection with the Basic Documents.
Obligations of Borrower Unconditional. The obligations of the Borrower to make the payments required in Section 4.01 hereof and to perform and observe the other agreements contained herein shall be absolute and unconditional and shall not be subject to any defense or any right of setoff, counterclaim or recoupment arising out of (a) any breach by the Issuer, HPTE, the Trustee or the Collateral Agent of any obligation to the Borrower, whether hereunder or otherwise, or (b) any indebtedness or liability at any time owing to the Borrower by the Issuer, HPTE, the Trustee or the Collateral Agent, and, until such time as the principal or Redemption Price of and interest on the Series 2021 Bonds, shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture and the First Supplemental Indenture, the Borrower (i) will not suspend or discontinue any payments provided for in Section 4.01 hereof, (ii) will perform and observe all other agreements contained in this Series 2021 Loan Agreement, the Series 2021 Notes, the Series 2021 Continuing Disclosure Agreement (Borrower) and the Security Documents to which it is a party and
