Common use of Conflicts and Inconsistencies Clause in Contracts

Conflicts and Inconsistencies. In the event of any conflict or inconsistency between any provision of this Agreement and any provision of any Underlying Master Agreement or any Transaction thereunder concerning the matters set forth in this Agreement, the provision of this Agreement shall govern and supersede the provision of such Underlying Master Agreement or any Transaction thereunder. The parties agree and acknowledge that if an amount is due under this Agreement, such amount is only due as a result of an obligation to pay under an Underlying Master Agreement, which obligation shall remain unaffected except as set forth in this Agreement. Without limitation of the foregoing, any failure to pay such amount under this Agreement shall be treated as a failure to pay the obligation in the applicable Underlying Master Agreement. Any and all provisions of the Underlying Master Agreements (including, for the avoidance of doubt, relating to defaults, grace periods and waivers) shall remain in full force and effect unless explicitly superseded hereunder.