A hell or high water contract is a contract in which the lender agrees to perform their part of the contract regardless of the difficulty.
In lease or financing contracts, this means that the lessor or borrower is obligated to continue making payments even if the leased or financed asset is damaged or destroyed.
A hell or high water contract shifts almost all risk of default or default to the lender and thus can induce landlords or lenders to agree to deals that would otherwise be too risky for them.