Common use of UNCONDITIONAL PAYMENT OBLIGATIONS Clause in Contracts

UNCONDITIONAL PAYMENT OBLIGATIONS. The Lessee's obligation to make Rental Payments and to pay any and all other payments in accordance with the Lease Documents is absolute irrespective of any contingency, including: (a) any unavailability of any item of the Leased Yacht for any reason, including (a) for any lack or invalidity of title to any item of the Leased Yacht, (b) any other defect in the title to any item of the Leased Yacht, (c) arising out of the condition, design, operation, merchantability or fitness for use or purpose of any item of the Leased Yacht, (d) the occurrence of a Total Loss Event and/or (e) any damage to any item of the Leased Yacht; (b) any failure or delay on the part of either Party, whether with or without fault on its part, in performing under this Operating Lease; (c) any insolvency, bankruptcy, reorganisation, arrangement, readjustment of debt, dissolution, administration, liquidation or similar proceedings by or against either Party; or (d) any lack of due Authorisation of or other defect in this Operating Lease.

UNCONDITIONAL PAYMENT OBLIGATIONS. The Lessee's obligation to make Rental Payments and to pay any and all other payments in accordance with the Lease Documents is absolute irrespective of any contingency, including: (a) any unavailability of any item of the Leased Yacht for any reason, including (a) for any lack or invalidity of title to any item of the Leased Yacht, (b) any other defect in the title to any item of the Leased Yacht, (c) arising out of the condition, design, operation, merchantability or fitness for use or purpose of any item of the Leased Yacht, (d) the occurrence of a Total Loss Event and/or (e) any damage to any item of the Leased Yacht; (b) any failure or delay on the part of either Party, whether with or without fault on its part, in performing under this Operating Finance Lease; (c) any insolvency, bankruptcy, reorganisation, arrangement, readjustment of debt, dissolution, administration, liquidation or similar proceedings by or against either Party; or (d) any lack of due Authorisation of or other defect in this Operating Finance Lease.