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ARTICLE VI SETTLEMENT MBIA shall have the exclusive right to decide and determine whether any claim, liability, suit or judgment made or brought against MBIA or the Developer or either of them on the Policy shall or shall not be paid, compromised, resisted, defended, tried or appealed, and MBIA's decision thereon, if made in good faith, shall be final and binding upon the Developer, but only with respect to the Developer and MBIA's rights pursuant to this Article VI and shall not be construed as controlling with respect to suit at law, action in equity or foreclosure brought by the Agency or the Co- Trustee. ARTICLE VII OBLIGATIONS OF DEVELOPER ABSOLUTE Section 7.01. Obligations of Developers. The obligations of the Developer to make payments under this Agreement shall be absolute, unconditional and irrevocable and shall be paid strictly in accordance with the terms of this Agreement under all circumstances whatsoever, including, without limitation, the following circumstances: (a) any lack of validity or enforceability of the Bonds, the Indenture, the Developer Documents or any other agreement or instrument relating hereto or. thereto (collectively, the "Related Documents "); (b) any amendment or waiver of or any consent to departure from all or any of the Related Documents; (c) the existence of any claim, setoff, defense or other right which the Developer may have at any time against the Agency or the Co- Trustee or any other person or entity, whether in connection with the Related Documents or any unrelated transactions; (d) any statement or any other document presented under the Policy proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate any respect whatsoever; (e) payment by MBIA under the Policy against presentation of a certificate by the Agency or the Co- Trustee which does not comply with the terms of the Policy or the Surety Bond, provided that such payment 8