Obligations Absolute definition

Obligations Absolute. Each Borrower's obligations arising under Section 2.19 shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of Section 2.19, under all circumstances whatsoever, including (without limitation) the following circumstances: ANY LACK OF VALIDITY OR ENFORCEABILITY OF ANY LETTER OF CREDIT OR ANY OTHER AGREEMENT OR INSTRUMENT RELATING TO ANY LETTER OF CREDIT (COLLECTIVELY THE "RELATED DOCUMENTS"); ANY AMENDMENT OR WAIVER OF OR ANY CONSENT TO DEPARTURE FROM ALL OR ANY OF THE RELATED DOCUMENTS; THE EXISTENCE OF ANY CLAIM, SETOFF, DEFENSE OR OTHER RIGHT WHICH ANY BORROWER MAY HAVE AT ANY TIME, AGAINST ANY BENEFICIARY OR ANY TRANSFEREE OF ANY LETTER OF CREDIT (OR ANY PERSONS OR ENTITIES FOR WHOM ANY SUCH BENEFICIARY OR ANY SUCH TRANSFEREE MAY BE ACTING), OR OTHER PERSON OR ENTITY, WHETHER IN CONNECTION WITH THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREIN OR IN THE RELATED DOCUMENTS OR ANY UNRELATED TRANSACTIONS; ANY STATEMENT OR ANY OTHER DOCUMENT PRESENTED UNDER ANY LETTER OF CREDIT PROVING TO BE FORGED, FRAUDULENT, INVALID OR INSUFFICIENT IN ANY RESPECT OR ANY STATEMENT THEREIN BEING UNTRUE OR INACCURATE IN ANY RESPECT WHATSOEVER; PAYMENT BY OR ON BEHALF OF THE ISSUER UNDER ANY LETTER OF CREDIT AGAINST PRESENTATION OF A DRAFT OR CERTIFICATE WHICH DOES NOT STRICTLY COMPLY WITH THE TERMS OF SUCH LETTER OF CREDIT; OR ANY OTHER CIRCUMSTANCE OR HAPPENING WHATSOEVER, WHETHER OR NOT SIMILAR TO ANY OF THE FOREGOING.
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Examples of Obligations Absolute in a sentence

  • Waivers by Pledgor; Obligations Absolute...............................................

  • Each of the Borrowers hereby waives any defense to or limitation on its obligations under this Agreement arising out of or based on any event or circumstance referred to in Section 11.9 [Obligations Absolute] hereof.

  • Obligations Absolute............................................................

  • Obligations Absolute..............................................................

  • Obligations Absolute....................................................................

  • Limited Obligation; Waiver of Setoff; Obligations Absolute..................................

  • Obligations Absolute.....................................................

  • Obligations Absolute...................................................

  • Each of the Guarantors hereby waives any defense to (other than, and to the extent of, the defense of prior payment and performance of the Guarantied Obligations) or limitation on its obligations under this Guaranty arising out of or based on any event or circumstance referred to in Section 3 [Obligations Absolute] hereof.

  • Borrower hereby waives any defense to or limitation on its obligations under this Agreement arising out of or based on any event or circumstance referred to in Section 11.9 [Obligations Absolute] hereof.