Common use of Canadian Obligations Clause in Contracts

Canadian Obligations. Notwithstanding anything in any Loan Document to the contrary, the parties hereto acknowledge that (a) the Canadian Borrowing Base Obligors are only obligated with respect to the Canadian Obligations and costs and expenses associated therewith and (b) any realization of Collateral owned by any Canadian Borrowing Base Obligor under the Security Documents shall only be with respect to the Canadian Obligations (with the application of funds as set forth in Section 5.5.1 hereof (including the last sentence thereof)). Notwithstanding anything in any Loan Document to the contrary, the parties hereto acknowledge that all amounts with respect to fees and expenses owing to the Agent (in its capacities as agent or collateral agent hereunder and not in their capacity as a Lender hereunder) for its own account (as opposed to for the account or benefit of any other Secured Party) are owed exclusively by the U.S. Obligors and not the Canadian Borrowing Base Obligors.