Common use of Separate Collateral Clause in Contracts

Separate Collateral. The parties hereto hereby acknowledge that Hedge Agreement Obligations may be secured by Separate Collateral, which Separate Collateral shall be held and maintained by ▇. ▇▇▇▇ or the Specified Hedge Counterparty, as applicable. Notwithstanding any provision of this Agreement or any other Security Document to the contrary, (i) in no event shall any Secured Party, other than ▇. ▇▇▇▇ or any successor as counterparty under the J. ▇▇▇▇ ▇▇▇▇▇ Agreement, have any claim on, or right title or interest in and to any Separate Collateral (including any J. ▇▇▇▇ ▇▇▇▇▇ Agreement LOC or any proceeds thereof) granted to ▇. ▇▇▇▇ and (ii) in no event shall any Secured Party, other than the applicable Specifed Hedge Counterparty have any claim on, or right title or interest in and to any Separate Collateral (including any Specified Hedge Agreement LOC or any proceeds thereof) granted solely to such counterparty, as applicable. Each Secured Party (x) acknowledges and agrees that any Separate Collateral (including any J. ▇▇▇▇ ▇▇▇▇▇ Agreement LOC) granted to ▇. ▇▇▇▇ is solely for the benefit of ▇. ▇▇▇▇ and any successor thereto and ▇. ▇▇▇▇ or any such successor shall not be required to share such Separate Collateral with any Secured Party and (ii) any Separate Collateral (including any Specified Hedge Agreement LOC) granted to a Specified Hedge Counterparty is solely for the benefit of such counterparty and any successor thereto and such counterparty or any such successor shall not be required to share such Separate Collateral with any Secured Party.