Common use of Collateral Administrator Clause in Contracts

Collateral Administrator. The Collateral Administrator for each Group shall act on behalf of its Group in connection with the performance of all duties and the exercise of all rights in respect of Collateral and Performance Assurance under the Agreement. Each Counterparty Party does hereby appoint the Collateral Administrator for Counterparty Group as its Collateral Administrator hereunder and ratifies and confirms any and all acts of such Collateral Administrator as its own. Each Enron Party does hereby appoint the Collateral Administrator for Enron Group as its Collateral Administrator hereunder and ratifies and confirms any and all acts of such Collateral Administrator as its own. The performance of such rights and duties by the Collateral Administrator for each Group shall satisfy the obligations of, and be deemed to effect the rights of, each member of the relevant Group.