Common use of Obligation of the Company Unconditional Clause in Contracts

Obligation of the Company Unconditional. The obligation of the Company to make the payments as provided in this Agreement and to perform and observe the other agreements on its part contained herein shall be absolute and unconditional notwithstanding failure of the Issuer's title to the Project or any part thereof, loss of title to (or the temporary use of) the Project by virtue of the exercise by others of the power of eminent domain, any acts or circumstances that may constitute failure of consideration, destruction of or damage to the Project, commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State of Alabama or any political subdivision of either thereof, or any failure of the Issuer to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or connected with this Agreement. Nothing contained in this Section 3.2 shall be construed to release the Issuer from the performance of any of the agreements on its part herein contained; and, in the event the Issuer should fail to perform any such agreement on its part, the Company may institute such action against the Issuer as the Company may deem necessary to compel performance or recover its damages for nonperformance so long as such action shall not violate the agreements on the part of the Company contained in the preceding sentence, but in no event shall the Company be entitled to any diminution of the amounts payable under Section 3.1 hereof. The Company may, however, at its own cost and expense and in its own name or in the name of the Issuer, prosecute or defend any action or proceeding or take any other action involving third persons which the Company deems reasonably necessary in order to secure or protect its right of possession, occupancy and use of the Project hereunder, and in such event the Issuer hereby agrees to cooperate fully with the Company and to take all action necessary to effect the substitution of the Company for the Issuer in any such action or proceeding if the Company shall so request.

Obligation of the Company Unconditional. The obligation of the Company to make the payments as provided in this Agreement and the Notes and to perform and observe the other agreements on its part contained herein shall be absolute and unconditional notwithstanding failure of the Issuer's title to the Project or any part thereof, loss of title to (or the temporary use of) the Project by virtue of the exercise by others of the power of eminent domain, any acts or circumstances that may constitute failure of consideration, destruction of or damage to the Project, commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State of Alabama Mississippi or any political subdivision of either thereof, thereof or any failure of the Issuer to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or connected with this Agreement. Nothing contained in this Section 3.2 3.3 shall be construed to release the Issuer from the performance of any of the agreements on its part herein contained; and, in the event the Issuer should fail to perform any such agreement on its part, the Company may institute such action against the Issuer as the Company may deem necessary to compel performance or recover its damages for nonperformance so long as such action shall not violate the agreements on the part of the Company contained in the preceding sentence, but in no event shall the Company be entitled to any diminution of the amounts payable under the Notes and Section 3.1 3.2 hereof. The Company may, however, at its own cost and expense and in its own name or in the name of the Issuer, prosecute or defend any action or proceeding or take any other action involving third persons which the Company deems reasonably necessary in order to secure or protect its right of possession, occupancy and use of the Project hereunder, and in such event the Issuer hereby agrees to cooperate fully with the Company and to take all action necessary to effect the substitution of the Company for the Issuer in any such action or proceeding if the Company shall so request.

Obligation of the Company Unconditional. The obligation of the Company to make the payments as provided in this Agreement and the Notes and to perform and observe the other agreements on its part contained herein shall be absolute and unconditional notwithstanding failure of the Issuer's title to the Project Facilities or any part thereof, loss of title to (or the temporary use of) the Project Facilities by virtue of the exercise by others of the power of eminent domain, any acts or circumstances that may constitute failure of consideration, destruction of or damage to the ProjectFacilities, commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State of Alabama Arkansas or any political subdivision of either thereof, thereof or any failure of the Issuer to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or connected with this Agreement. Nothing contained in this Section 3.2 3.3 shall be construed to release the Issuer from the performance of any of the agreements on its part herein contained; and, in the event the Issuer should fail to perform any such agreement on its part, the Company may institute such action against the Issuer as the Company may deem necessary to compel performance or recover its damages for nonperformance so long as such action shall not violate the agreements on the part of the Company contained in the preceding sentence, but in no event shall the Company be entitled to any diminution of reduce the amounts payable under the Notes and Section 3.1 3.2 hereof. The Company may, however, at its own cost and expense and in its own name or in the name of the Issuer, prosecute or defend any action or proceeding or take any other action involving third persons which the Company deems reasonably necessary in order to secure or protect its right of possession, occupancy and use of the Project Facilities hereunder, and in such event the Issuer hereby agrees to cooperate fully with the Company and to take all action necessary to effect the substitution of the Company for the Issuer in any such action or proceeding if the Company shall so request.

Obligation of the Company Unconditional. The obligation of the Company to make the payments as provided in pursuant to this Agreement and to perform and observe the other agreements on its part contained herein shall be absolute absolute, irrevocable and unconditional notwithstanding failure unconditional, and the Company's obligation to make payments pursuant to Section 4.4 of this Agreement shall be further subject to the provisions of Section 4.5 of this Agreement. Until such time as the principal of, premium, if any, and interest on the Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture, the Company (i) will not suspend or discontinue any payments pursuant to this Agreement, (ii) will perform and observe all its other agreements contained in this Agreement and (iii) except as provided in Article VIII, will not terminate this Agreement for any cause including, without limiting the generality of the Issuer's title to the Project or any part thereofforegoing, loss of title to (or the temporary use of) the Project by virtue of the exercise by others of the power of eminent domain, any acts or circumstances that may constitute failure of consideration, destruction of or damage to the Project, commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State of Alabama [Mississippi] or any political subdivision of either thereof, thereof or any failure of the Issuer County to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or connected with this Agreement. Nothing contained in this Section 3.2 4.7 shall be construed to release the Issuer County from the performance of any of the agreements on its part herein contained; and, in the event the Issuer should County shall fail to perform any such agreement on its part, the Company may institute such action against the Issuer County as the Company may deem necessary to compel performance or recover its damages for nonperformance so long as such action shall not violate the agreements on the part of the Company contained in the preceding sentence, but and in no event shall the Company be entitled to any diminution of the amounts payable under Section 3.1 4.4 hereof. The Company may, however, at its own cost and expense and in its own name or in the name of the IssuerCounty, prosecute or defend any action or proceeding or take any other action involving third persons which the Company deems reasonably necessary in order to insure, secure or protect its right of possession, occupancy and use of the Project hereunderProject, and in such event the Issuer County hereby agrees to cooperate fully with the Company and to take all action necessary to effect the substitution of the Company for the Issuer County in any such action or proceeding if the Company shall so request.

Obligation of the Company Unconditional. The obligation of the Company to make the payments as provided in this Agreement and the Notes and to perform and observe the other agreements on its part contained herein shall be absolute and unconditional notwithstanding failure of the Issuer's title to the Project or any part thereof, loss of title to (or the temporary use of) the Project by virtue of the exercise by others of the power of eminent domain, any acts or circumstances that may constitute failure of consideration, destruction of or damage to the Project, commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State of Alabama Mississippi or any political subdivision of either thereof, thereof or any failure of the Issuer to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or connected with this Agreement. Nothing contained in this Section 3.2 3.3 shall be construed to release the Issuer from the performance of any of the agreements on its part herein contained; and, in the event the Issuer should fail to perform any such agreement on its part, the Company may institute such action against the Issuer as the Company may deem necessary to compel performance or recover its damages for nonperformance so long as such action shall not violate the agreements on the part of the Company contained in the preceding sentence, but in no event shall the Company be entitled to any diminution of reduce the amounts payable under the Notes and Section 3.1 3.2 hereof. The Company may, however, at its own cost and expense and in its own name or in the name of the Issuer, prosecute or defend any action or proceeding or take any other action involving third persons which the Company deems reasonably necessary in order to secure or protect its right of possession, occupancy and use of the Project hereunder, and in such event the Issuer hereby agrees to cooperate fully with the Company and to take all action necessary to effect the substitution of the Company for the Issuer in any such action or proceeding if the Company shall so request.

Obligation of the Company Unconditional. The obligation of the Company to make the payments as provided in this Agreement and the Notes and to perform and observe the other agreements on its part contained herein shall be absolute and unconditional notwithstanding failure of the Issuer's title to the Project or any part thereof, loss of title to (or the temporary use of) the Project by virtue of the exercise by others of the power of eminent domain, any acts or circumstances that may constitute failure of consideration, destruction of or damage to the Project, commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State of Alabama Mississippi or any political subdivision of either thereof, thereof or any failure of the Issuer to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or connected with this Agreement. Nothing contained in this Section 3.2 3.3 shall be construed to release the Issuer from the performance of any of the agreements on its part herein contained; and, in the event the Issuer should fail to perform any such agreement on its part, the Company may institute such action against the Issuer as the Company may deem necessary to compel performance or recover its damages for nonperformance so long as such action shall not violate the agreements on the part of the Company contained in the preceding sentence, but in no event shall the Company be entitled to any diminution of reduce the amounts payable under the Notes and Section 3.1 3.2 hereof. The Company may, however, at its own cost and expense and in its own name or in the name of the Issuer, prosecute or defend any action or proceeding or take any other action involving third persons which the Company deems reasonably necessary in order to secure or protect its right of possession, occupancy and use of the Project hereunder, and in such event the Issuer hereby agrees to cooperate fully with the Company and to take all action necessary to effect the substitution of the Company for the Issuer in any such action or proceeding if the Company shall so request.

Obligation of the Company Unconditional. The obligation of the Company to make the payments as provided in pursuant to this Agreement and to perform and observe the other agreements on its part contained herein and in the Indenture shall be absolute and unconditional notwithstanding unconditional, shall not be subject to any defense or any right of set-off, counterclaim or recoupment arising out of any breach by the Board or the Trustee of any obligation to the Company, whether hereunder or otherwise, or out of any indebtedness or liability at any time owing to the Company by the Board or the Trustee. Until such time as the principal of, premium, if any, and interest on the Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture, the Company (i) will not suspend or discontinue any payments pursuant to this Agreement, (ii) will perform and observe all its other agreements contained in this Agreement and (iii) except as provided herein, will not terminate this Agreement for any cause including, without limiting the generality of the foregoing, failure of the IssuerBoard to complete the Project, failure of the Board's title to the Project or any part thereof, loss of title to (or the temporary use of) the Project by virtue of the exercise by others of the power of eminent domain, any acts or circumstances that may constitute failure of or consideration, destruction of or damage to the Project, commercial frustration of purpose, any change in the tax or other laws of or the United States of America or of the State of Alabama or any political subdivision of either thereof, thereof or any failure of the Issuer Board to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or connected with this Agreement. Nothing contained in this Section 3.2 4.5 shall be construed to release the Issuer Board from the performance of any of the agreements on its part herein contained; and, in the event the Issuer should Board shall fail to perform any such agreement on its part, the Company may institute such action against the Issuer Board as the Company may deem necessary to compel performance or recover its damages may pursue such other remedies for nonperformance non-performance as may be available to it so long as such action shall not violate the agreements on the part of the Company contained in the preceding sentence, but and in no event shall the Company be entitled to any diminution of the amounts payable under Section 3.1 4.3 hereof. The Company may, however, at its own cost and expense and in its own name or in the name of the IssuerBoard, prosecute or defend any action or proceeding or take any other action involving third persons which the Company company deems reasonably necessary in order to insure the acquisition, construction, installation, equipping and completion of the Project or to secure or protect its right of or possession, occupancy and use of the Project hereunder, and in such event the Issuer Board hereby agrees to cooperate fully with the Company and to take all action necessary to effect the substitution of the Company for the Issuer Board in any such action or proceeding if the Company shall so request.

Obligation of the Company Unconditional. The obligation of the Company to make the payments as provided in this Agreement and the Notes and to perform and observe the other agreements on its part contained herein shall be absolute and unconditional notwithstanding failure of the Issuer's title to the Project Projects or any part thereof, loss of title to (or the temporary use of) the Project Projects by virtue of the exercise by others of the power of eminent domain, any acts or circumstances that may constitute failure of consideration, destruction of or damage to the ProjectProjects, commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State of Alabama Mississippi or any political subdivision of either thereof, thereof or any failure of the Issuer to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or connected with this Agreement. Nothing contained in this Section 3.2 3.3 shall be construed to release the Issuer from the performance of any of the agreements on its part herein contained; and, in the event the Issuer should fail to perform any such agreement on its part, the Company may institute such action against the Issuer as the Company may deem necessary to compel performance or recover its damages for nonperformance so long as such action shall not violate the agreements on the part of the Company contained in the preceding sentence, but in no event shall the Company be entitled to any diminution of reduce the amounts payable under the Notes and Section 3.1 3.2 hereof. The Company may, however, at its own cost and expense and in its own name or in the name of the Issuer, prosecute or defend any action or proceeding or take any other action involving third persons which the Company deems reasonably necessary in order to secure or protect its right of possession, occupancy and use of the Project Projects hereunder, and in such event the Issuer hereby agrees to cooperate fully with the Company and to take all action necessary to effect the substitution of the Company for the Issuer in any such action or proceeding if the Company shall so request.