Common use of Acknowledgement of Security Interest Clause in Contracts

Acknowledgement of Security Interest. Party A hereby acknowledges that Party B has granted a security interest in its rights under this Agreement and has assigned this Agreement to the Indenture Trustee pursuant to the Indenture, and consents thereto, and Party A hereby consents to any transfer of such rights pursuant to an exercise of creditor’s remedies in respect of such security interest or assignment. Party A hereby agrees that, unless notified in writing by the Indenture Trustee of other payment instructions, any and all amounts payable by Party A to Party B under this Agreement shall be paid to the Indenture Trustee at the account specified in the Confirmation. Any payments in accordance with the provisions hereof (or in accordance with any instructions from the Indenture Trustee) by Party A to Party B shall fully release Party A from any further liability to Party B in respect to such payment.