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Common use of Eligible Contracts Clause in Contracts

Eligible Contracts. Each Contract represents the absolute obligation of the related Obligor to pay the amounts set forth therein, free from any and all claims, defenses or rights of counterclaim against Lender.

Appears in 2 contracts

Sources: Master Loan and Security Agreement (Ion Geophysical Corp), Master Loan and Security Agreement (Ion Geophysical Corp)

Related Clauses

  • Eligible Contract Participant
  • Eligible Consumers
  • Contract Payments
  • Eligible Collateral
  • Hedging Contracts

Parent Clauses

  • Representations and Warranties
  • AFFIRMATIVE COVENANTS
  • Information on Hydrocarbon Interests
  • Representations and Warranties of the Borrower
  • Representations and Warranties of Borrower

Sub-Clauses

  • Government Approvals
  • Validity and Binding Nature
  • Power and Authority; Due Authorization
  • Representations and Warranties of Servicer
  • Organization and Good Standing, Etc
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