Corresponding Debt. The obligations of the Borrower under Section 14.1 are several and are separate and independent from, and shall not in any way limit or affect, the corresponding obligations of the Borrower to any Lender under this Agreement or under any Secured Hedge Agreement (the “Corresponding Debt”) nor shall the amounts for which the Borrower is liable under Section 14.1 (the “Parallel Debt”) be limited or affected in any way by the Corresponding Debt; provided that:
Corresponding Debt. The obligations of each Parallel Debtor under Section 15.1 are several and are separate and independent from, and shall not in any way limit or affect, the corresponding obligations of such Parallel Debtor to any Lender under this Agreement or under any U.S. Obligations Secured Hedge Agreement or Foreign Obligations Secured Hedge Agreement (its “Corresponding Debt”) nor shall the amounts for which such Parallel Debtor is liable under Section 15.1 (the “Parallel Debt”) be limited or affected in any way by the Corresponding Debt; provided that:
Corresponding Debt. The Parallel Debt of the Borrower: (i) shall become due and payable at the same time as its Corresponding Debt; (ii) is independent and separate from, and without prejudice to, its Corresponding Debt. (b) For purposes of this Clause 26.2 (Parallel Debt (Covenant to pay the Security Trustee)), the Security Trustee: (i) is the independent and separate creditor of each Parallel Debt; (ii) acts in its own name and not as agent, representative or trustee of the Creditor Parties and its claims in respect of each Parallel Debt shall not be held on trust; and (iii) shall have the independent and separate right to demand payment of each Parallel Debt in its own name (including, without limitation, through any suit, execution, enforcement of security, recovery of guarantees and applications for and voting in any kind of insolvency proceeding). (c) The Parallel Debt of the Borrower shall be: (i) decreased to the extent that its Corresponding Debt has been irrevocably and unconditionally paid or discharged; and (ii) increased to the extent that its Corresponding Debt has increased, and the Corresponding Debt of the Borrower shall be: (A) decreased to the extent that its Parallel Debt has been irrevocably and unconditionally paid or discharged; and (B) increased to the extent that its Parallel Debt has increased, in each case provided that the Parallel Debt of the Borrower shall never exceed its Corresponding Debt. (d) All amounts received or recovered by the Security Trustee in connection with this Clause 26.2 (Parallel Debt (Covenant to pay the Security Trustee)) to the extent permitted by applicable law, shall be applied in accordance with Clause 18 (Application of Receipts). (e) This Clause 26.2 (Parallel Debt (Covenant to pay the Security Trustee)) shall apply, with any necessary modifications, to each Finance Document and Master Agreement.
Corresponding Debt. The obligations of the Borrower under Section 14.1 are several and are separate and independent from, and shall not in any way limit or affect, the corresponding obligations of the Borrower to any Lender under this Agreement or under any Secured Hedge Agreement (the “Corresponding Debt”) nor shall the amounts for which the Borrower is liable under Section 14.1 (the “Parallel Debt”) be limited or affected in any way by the Corresponding Debt; provided that: (a) the Parallel Debt of the Borrower shall be decreased to the extent that its Corresponding Debt has been irrevocably paid or (in the case of guarantee obligations) discharged; and (b) the Corresponding Debt of the Borrower shall be decreased to the extent its Parallel Debt has been irrevocably paid or (in the case of guarantee obligations) discharged; and (c) the amount of the Parallel Debt of the Borrower shall at all times be equal to the amount of the Corresponding Debt. 14.3
Corresponding Debt. (f) All amounts received or recovered by the Security Agent in connection with this clause
