Common use of Obligations of the Company Unconditional Clause in Contracts

Obligations of the Company Unconditional. The obligations of the Company to make the payments required in Section 4.02 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 any breach by the Issuer or the Trustee of any obligation to the Company, whether hereunder or otherwise, or out of any indebtedness or liability at any time owing to the Company by the Issuer or the Trustee, and, until such time as the principal of, premium, if any, and interest on the Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture, the Company (i) will not suspend or discontinue any rental payments provided for in Section 4.02 hereof, (ii) will perform and observe all other agreements contained in this Agreement and (iii) except as otherwise provided herein, will not terminate the Term of Agreement for any cause, including, without limiting the generality of the foregoing, failure of the Company to complete the acquisition, construction and installation of the Project, the occurrence of any acts or circumstances that may constitute failure of consideration, eviction or constructive eviction, destruction of or damage to the Project, the taking by eminent domain of title to or temporary use of any or all of the Project, commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State or any political subdivision of either thereof or any failure of the Issuer or the Trustee to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or connected with this 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 or the Trustee should fail to perform any such agreement on its part, the Company may institute such action against the Issuer or the Trustee as the Company may deem necessary to compel performance so long as such action does not abrogate the obligations of the Company contained in the first sentence of this Section.

Appears in 4 contracts

Samples: Lease Agreement (NuStar Energy L.P.), Lease Agreement (NuStar Energy L.P.), Lease Agreement (NuStar Energy L.P.)

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Obligations of the Company Unconditional. The obligations obligation of the Company to make the payments pursuant to this Agreement and to make any payments required in respect of the Rebate Fund as provided in Section 4.02 and to perform and observe 6.06 of the other agreements contained herein Indenture shall be absolute and unconditional and shall not be subject to any defense or any right of setoff, counterclaim or recoupment arising out of any breach by the Issuer or the Trustee of any obligation to the Company, whether hereunder or otherwise, or out of any indebtedness or liability at any time owing to the Company by the Issuer or the Trustee, and, until unconditional. Until such time as the principal of, premium, if any, and interest on the 2023 Series A Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture, the Company (ia) will not suspend or discontinue any rental payments provided for in Section 4.02 hereof, (ii) will perform and observe all other agreements contained in pursuant to this Agreement Agreement; and (iiib) except as otherwise provided hereinin Article X hereof, will not terminate the Term of this Agreement for any cause, including, without limiting the generality of the foregoing, cause including failure of title to the Company to complete the acquisitionProject or any part thereof, construction and installation of the Project, the occurrence of any acts or circumstances that may constitute failure of consideration, eviction or constructive evictiondestruction of, destruction of or damage to the Project, the taking by eminent domain of title to or temporary use of any or all of the Project, commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State Commonwealth or any political subdivision of either thereof or any failure of the Issuer or the Trustee to perform and observe any agreement, whether express or implied, or any duty, liability liability, or obligation arising out of or connected with this 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 if the Issuer or the Trustee should fail to perform any such agreement on its part, the Company may institute such action against the Issuer or the Trustee as the Company may deem necessary to compel performance so long as such action does not abrogate shall be in accordance with the obligations agreements on the part of the Company contained in the first sentence preceding sentence. The Company may, however, at its own cost and expense and in its own name or in the name of this Section.the Issuer, prosecute or defend any action or proceeding or take any other action involving third persons which the Company deems reasonably necessary in order to secure or protect its right of ownership, possession, occupancy, and use of the Project, and in such event the Issuer hereby agrees to cooperate fully with the Company. Section 5.5

Appears in 2 contracts

Samples: Loan Agreement (Louisville Gas & Electric Co /Ky/), Loan Agreement (Louisville Gas & Electric Co /Ky/)

Obligations of the Company Unconditional. The obligations obligation of the Company to make the payments pursuant to this Agreement and to make any payments required in respect of the Rebate Fund as provided in Section 4.02 and to perform and observe 6.06 of the other agreements contained herein Indenture shall be absolute and unconditional and shall not be subject to any defense or any right of setoff, counterclaim or recoupment arising out of any breach by the Issuer or the Trustee of any obligation to the Company, whether hereunder or otherwise, or out of any indebtedness or liability at any time owing to the Company by the Issuer or the Trustee, and, until unconditional. Until such time as the principal of, premium, if any, and interest on the 2017 Series A Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture, the Company (ia) will not suspend or discontinue any rental payments provided for in Section 4.02 hereof, (ii) will perform and observe all other agreements contained in pursuant to this Agreement Agreement; and (iiib) except as otherwise provided hereinin ARTICLE X hereof, will not terminate the Term of this Agreement for any cause, including, without limiting the generality of the foregoing, cause including failure of title to the Company to complete the acquisitionProject or any part thereof, construction and installation of the Project, the occurrence of any acts or circumstances that may constitute failure of consideration, eviction or constructive evictiondestruction of, destruction of or damage to the Project, the taking by eminent domain of title to or temporary use of any or all of the Project, commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State Commonwealth of Kentucky or any political subdivision of either thereof or any failure of the Issuer or the Trustee to perform and observe any agreement, whether express or implied, or any duty, liability liability, or obligation arising out of or connected with this Agreement. Nothing contained in this Section 5.4 shall be construed to release the Issuer from the performance of any of the agreements on its part herein contained, ; and in the event if the Issuer or the Trustee should fail to perform any such agreement on its part, the Company may institute such action against the Issuer or the Trustee as the Company may deem necessary to compel performance so long as such action does not abrogate shall be in accordance with the obligations agreements on the part of the Company contained in the first sentence preceding sentence. The Company may, however, at its own cost and expense and in its own name or in the name of this Sectionthe Issuer, prosecute or defend any action or proceeding or take any other action involving third persons which the Company deems reasonably necessary in order to secure or protect its right of ownership, possession, occupancy, and use of the Project, and in such event the Issuer hereby agrees to cooperate fully with the Company.

Appears in 1 contract

Samples: Loan Agreement (LG&E & KU Energy LLC)

Obligations of the Company Unconditional. The obligations obligation of the Company to make the payments pursuant to this Agreement and to make any payments required in respect of the Rebate Fund as provided in Section 4.02 and to perform and observe 6.06 of the other agreements contained herein Indenture shall be absolute and unconditional and shall not be subject to any defense or any right of setoff, counterclaim or recoupment arising out of any breach by the Issuer or the Trustee of any obligation to the Company, whether hereunder or otherwise, or out of any indebtedness or liability at any time owing to the Company by the Issuer or the Trustee, and, until unconditional. Until such time as the principal of, premium, if any, and interest on the 2016 Series A Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture, the Company (ia) will not suspend or discontinue any rental payments provided for in Section 4.02 hereof, (ii) will perform and observe all other agreements contained in pursuant to this Agreement Agreement; and (iiib) except as otherwise provided hereinin ARTICLE X hereof, will not terminate the Term of this Agreement for any cause, including, without limiting the generality of the foregoing, cause including failure of title to the Company to complete the acquisitionProject or any part thereof, construction and installation of the Project, the occurrence of any acts or circumstances that may constitute failure of consideration, eviction or constructive evictiondestruction of, destruction of or damage to the Project, the taking by eminent domain of title to or temporary use of any or all of the Project, commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State Commonwealth of Kentucky or any political subdivision of either thereof or any failure of the Issuer or the Trustee to perform and observe any agreement, whether express or implied, or any duty, liability liability, or obligation arising out of or connected with this Agreement. Nothing contained in this Section 5.4 shall be construed to release the Issuer from the performance of any of the agreements on its part herein contained, ; and in the event if the Issuer or the Trustee should fail to perform any such agreement on its part, the Company may institute such action against the Issuer or the Trustee as the Company may deem necessary to compel performance so long as such action does not abrogate shall be in accordance with the obligations agreements on the part of the Company contained in the first sentence preceding sentence. The Company may, however, at its own cost and expense and in its own name or in the name of this Sectionthe Issuer, prosecute or defend any action or proceeding or take any other action involving third persons which the Company deems reasonably necessary in order to secure or protect its right of ownership, possession, occupancy, and use of the Project, and in such event the Issuer hereby agrees to cooperate fully with the Company.

Appears in 1 contract

Samples: Loan Agreement (LG&E & KU Energy LLC)

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Obligations of the Company Unconditional. The obligations obligation of the Company to make the payments pursuant to this Agreement and to make any payments required in respect of the Rebate Fund as provided in Section 4.02 and to perform and observe 6.07 of the other agreements contained herein Indenture shall be absolute and unconditional and shall not be subject to any defense or any right of setoff, counterclaim or recoupment arising out of any breach by the Issuer or the Trustee of any obligation to the Company, whether hereunder or otherwise, or out of any indebtedness or liability at any time owing to the Company by the Issuer or the Trustee, and, until unconditional. Until such time as the principal of, premium, if any, and interest on the 2008 Series A Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture, the Company (i) will not suspend or discontinue any rental payments provided for in Section 4.02 hereof, (ii) will perform and observe all other agreements contained in pursuant to this Agreement and (iiiii) except as otherwise provided hereinin ARTICLE X hereof, will not terminate the Term of this Agreement for any cause, cause including, without limiting the generality of the foregoing, failure of title to the Company to complete the acquisition2008 Project or any part thereof, construction and installation of the Project, the occurrence of any acts or circumstances that may constitute failure of consideration, eviction or constructive eviction, destruction of or damage to the Project, the taking by eminent domain of title to or temporary use of any or all of the 2008 Project, commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State Commonwealth of Kentucky or any political subdivision of either thereof or any failure of the Issuer or the Trustee to perform and observe any agreement, whether express or implied, implied or any duty, liability or obligation arising out of or connected with this 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 or the Trustee should fail to perform any such agreement on its part, the Company may institute such action against the Issuer or the Trustee as the Company may deem necessary to compel performance so long as such action does not abrogate shall be in accordance with the obligations agreements on the part of the Company contained in the first sentence preceding sentence. The Company may, however, at its own cost and expense and in its own name or in the name of this Sectionthe Issuer, prosecute or defend any action or proceeding or take any other action involving third persons which the Company deems reasonably necessary in order to secure or protect its right of ownership, possession, occupancy and use of the 2008 Project, and in such event the Issuer hereby agrees to cooperate fully with the Company.

Appears in 1 contract

Samples: Loan Agreement (PPL Energy Supply LLC)

Obligations of the Company Unconditional. The obligations obligation of the Company to make the payments pursuant to this Agreement and to make any payments required in respect of the Rebate Fund as provided in Section 4.02 and to perform and observe 6.07 of the other agreements contained herein Indenture shall be absolute and unconditional and shall not be subject to any defense or any right of setoff, counterclaim or recoupment arising out of any breach by the Issuer or the Trustee of any obligation to the Company, whether hereunder or otherwise, or out of any indebtedness or liability at any time owing to the Company by the Issuer or the Trustee, and, until unconditional. Until such time as the principal of, premium, if any, and interest on the 2016 Series A Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture, the Company (ia) will not suspend or discontinue any rental payments provided for in Section 4.02 hereof, (ii) will perform and observe all other agreements contained in pursuant to this Agreement Agreement; and (iiib) except as otherwise provided hereinin ARTICLE X hereof, will not terminate the Term of this Agreement for any cause, including, without limiting the generality of the foregoing, cause including failure of title to the Company to complete the acquisitionProject or any part thereof, construction and installation of the Project, the occurrence of any acts or circumstances that may constitute failure of consideration, eviction or constructive evictiondestruction of, destruction of or damage to the Project, the taking by eminent domain of title to or temporary use of any or all of the Project, commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State Commonwealth of Kentucky or any political subdivision of either thereof or any failure of the Issuer or the Trustee to perform and observe any agreement, whether express or implied, or any duty, liability liability, or obligation arising out of or connected with this Agreement. Nothing contained in this Section 5.4 shall be construed to release the Issuer from the performance of any of the agreements on its part herein contained, ; and in the event if the Issuer or the Trustee should fail to perform any such agreement on its part, the Company may institute such action against the Issuer or the Trustee as the Company may deem necessary to compel performance so long as such action does not abrogate shall be in accordance with the obligations agreements on the part of the Company contained in the first sentence preceding sentence. The Company may, however, at its own cost and expense and in its own name or in the name of this Sectionthe Issuer, prosecute or defend any action or proceeding or take any other action involving third persons which the Company deems reasonably necessary in order to secure or protect its right of ownership, possession, occupancy, and use of the Project, and in such event the Issuer hereby agrees to cooperate fully with the Company.

Appears in 1 contract

Samples: Loan Agreement (LG&E & KU Energy LLC)

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