Common use of Obligations of Payor Unconditional Clause in Contracts

Obligations of Payor Unconditional. Nothing contained in this Section 4 or elsewhere in this Note is intended to or shall impair, as among Payor, its creditors other than the holders of Senior Debt, and Payee, the obligation of Payor, which is absolute and unconditional, to pay to Payee the principal of and interest on and all other amounts due under this Note in accordance with its terms, or is intended to or shall affect the relative rights of Payee and creditors of Payor other than the holders of the Senior Debt, nor shall anything herein prevent Payee from exercising all remedies otherwise permitted by applicable law upon default under this Note, subject to the provisions of this Section 4 and to the rights of holders of Senior Debt to receive distributions and payments otherwise payable to Payee.

Obligations of Payor Unconditional. Nothing contained in this ---------------------------------- Section 4 or elsewhere in this Note is intended to or shall impair, as among Payor, its creditors other than the holders of Senior Debt, and Payee, the obligation of Payor, which is absolute and unconditional, to pay to Payee the principal of and interest on and all other amounts due under this Note in accordance with its terms, or is intended to or shall affect the relative rights of Payee and creditors of Payor other than the holders of the Senior Debt, nor shall anything herein prevent Payee from exercising all remedies otherwise permitted by applicable law upon default under this Note, subject to the provisions of this Section 4 and to the rights of holders of Senior Debt to receive distributions and payments otherwise payable to Payee.

Obligations of Payor Unconditional. Nothing contained in this Section 4 3 or elsewhere in this Note is intended to or shall impair, as among Payor, its creditors (other than the holders of Senior Debt, Indebtedness) and Payee, the obligation of Payor, which is absolute and unconditional, to pay to Payee the principal of and interest on and all other amounts due under this Note in accordance with its terms, or is intended to or shall affect the relative rights of Payee and creditors of Payor (other than the holders of the Senior DebtIndebtedness), nor shall anything herein prevent Payee from exercising all remedies otherwise permitted by applicable law upon default under this Note, subject to the provisions of this Section 4 3 and to the rights of holders of Senior Debt Indebtedness to receive distributions and payments otherwise payable to Payee.