Common use of Separate Collateral Clause in Contracts

Separate Collateral. (a) Notwithstanding any provision of this Agreement or any other Collateral Document (as defined in the Existing Credit Agreement) to the contrary, 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 the Hedge Agreement LOC or any proceeds thereof. Each Secured Party, other than ▇. ▇▇▇▇ or any successor as counterparty under the J. ▇▇▇▇ ▇▇▇▇▇ Agreement, acknowledges and agrees that the Hedge Agreement LOC is solely for the benefit of ▇. ▇▇▇▇ and any successor thereto and ▇. ▇▇▇▇ or any such successor shall not be required to share the Hedge Agreement LOC or any portion of the proceeds of such Hedge Agreement LOC with any Secured Party. (b) If at any time the Company has in place an endorsement to the Company’s business interruption insurance policy (the “BI Policy”) that names ▇. ▇▇▇▇ as Loss Payee (the “BI Endorsement”), and (i) a recoverable loss under such BI Policy has occurred and is continuing, (ii) ▇. ▇▇▇▇ is permitted under such BI Endorsement to seek payment directly from the issuer of the BI Policy and (iii) amounts are payable to ▇. ▇▇▇▇ under the J. ▇▇▇▇ ▇▇▇▇▇ Agreement, ▇. ▇▇▇▇ shall continue to seek payment of the obligations due to it from the Company and will only seek payment under the BI Endorsement if ▇. ▇▇▇▇ would have the right to terminate the J. ▇▇▇▇ ▇▇▇▇▇ Agreement. This provision shall not otherwise affect ▇. ▇▇▇▇’▇ rights set forth herein, under the Hedge Agreement LOC and under the other First Lien Debt Documents.