Common use of UNCONDITIONAL PAYMENT OBLIGATIONS Clause in Contracts

UNCONDITIONAL PAYMENT OBLIGATIONS. The Lessee's obligation to pay Rental and make other payments in accordance with any of the Lease Documents shall, subject to clause 22.3, be absolute and unconditional irrespective of any contingency whatsoever including (but not limited to) (a) any right of set-off, counterclaim, recoupment, defence or other right which either party hereto may have against the other, (b) any unavailability of the Ship for any reason, including, but not limited to, any lack or invalidity of title or any other defect in the title, seaworthiness, merchantability, satisfactory quality, fitness for any purpose, condition, design, or operation of any kind or nature of the Ship, or the ineligibility of the Ship for any particular use or trade, or for registration or documentation under the laws of any relevant jurisdiction, or the Total Loss of, or any damage to, the Ship, (c) any failure or delay on the part of either party hereto, whether with or without fault on its part, in performing or complying with any of the terms or conditions of this Lease, (d) any insolvency, bankruptcy, winding up, administration, reorganisation, arrangement, readjustment of debt, dissolution, liquidation or similar proceedings by or against the Lessor or the Lessee or (e) any lack of due authorisation of, or other defect in, this Lease or any of the other Lease Documents.