Absolute Obligation definition

Absolute Obligation. The obligations of the Borrower under this Agreement in respect of Letters of Credit shall be absolute, unconditional and irrevocable under any and all circumstances and irrespective of any set-off, counterclaim or defense to payment which any person may have or have had against the Agent, any Lender, any Fronting Lender or any beneficiary of a Letter of Credit.
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Examples of Absolute Obligation in a sentence

  • Absolute Obligation With Respect to Letter of Credit Payments...42 2.11.

  • Notwithstanding the foregoing, in no event shall this Section 6.9(b) apply to any fact, circumstance or matter that is an Excluded Liability, an Absolute Obligation (without giving effect to this Section 6.9(b)) or constitutes a breach of any covenant or obligation under this Agreement.

  • Absolute Obligation With Respect to Letter of Credit Payments...................2 2.12.

  • Absolute Obligation of Issuer................................................42 Section 7.08.

  • Absolute Obligation With Respect to Letter of Credit Payments......................................2 2.12.

  • Absolute Obligation With Respect to Letter of Credit Payments ......................

  • Absolute Obligation to Repay.........................................................................17 2.23.

  • Absolute Obligation With Respect to Letter of Credit Payments ...............................................

  • Notwithstanding any provision of this Section 6.9(a) to the contrary, regardless of any disclosure made by Sellers on any Sellers’ Disclosure Schedule or Supplemental Sellers’ Disclosure Schedule, in no event shall Buyers be liable (and Sellers’ shall remain solely liable) for any fact, circumstance or matter that is an Excluded Liability, an Absolute Obligation or constitutes a breach of any covenant or obligation under this Agreement.

  • OF CREDIT 23 2.1. Revolving Credit Loans; Parent Revolving Credit Notes 23 2.2. Term Loans; Term Notes 23 2.3. Procedure for Borrowing 24 2.4. Termination or Reduction of Parent Commitments and GP Canada Credit Exposure 26 2.5. Prepayments of Loans 26 2.6. Use of Proceeds 27 2.7. Letter of Credit Sub-Facility 28 2.8. Letter of Credit Participation and Funding Commitments 29 2.9. Absolute Obligation With Respect to Letter of Credit Payments 30 2.10.

Related to Absolute Obligation

  • Note Obligations means the Notes, the Guarantees and all other obligations of any obligor under this Indenture, the Notes, the Guarantees and the Security Documents.

  • Net Obligation means the amount owed to PJMSettlement and PJM for purchases from the PJM Markets, Transmission Service, (under Tariff, Parts II and III , and other services pursuant to the Agreements, after applying a deduction for amounts owed to a Participant by PJMSettlement as it pertains to monthly market activity and services. Should other markets be formed such that Participants may incur future Obligations in those markets, then the aggregate amount of those Obligations will also be added to the Net Obligation.

  • Loan obligation means a bond, note, or other evidence of an obligation issued by a qualified borrower.

  • Service obligation means the contractual obligation undertaken by an individual under section 2705 or section 2707 to provide health care services for a determinable time period at a site designated by the department.

  • Fixed Rate Obligation Any Collateral Obligation that bears a fixed rate of interest.