Common use of Liability Under Contracts and Receivables Clause in Contracts

Liability Under Contracts and Receivables. Notwithstanding anything in this Security Agreement to the contrary, (i) the execution of this Security Agreement shall not release any of the Grantors from its respective obligations and duties under the any Contract Documents, or any other Contract or Instrument, including Interest Hedge Agreements and Hydrocarbon Hedge Agreements, which are part of the Collateral and Receivables included in the Collateral to the extent set forth therein, (ii) the exercise by the Secured Party of any of its rights hereunder shall not release any of the Grantors from their respective duties or obligations under any Contract Documents, or any other contract or instrument, including Interest Hedge Agreements and Hydrocarbon Hedge Agreements, which are part of the Collateral and Receivables included in the Collateral, and (iii) the Secured Party shall not have any obligation or liability under any Contract Documents, or any other contract or instrument, including Interest Hedge Agreements and Hydrocarbon Hedge Agreements, which are part of the Collateral and Receivables included in the Collateral by reason of the execution and delivery of this Security Agreement, nor shall the Secured Party be obligated to perform any of the obligations or duties of any of the Grantors thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.