The Company acknowledges and agrees that, subject to Section 5:  (a) the Secured Obligations represent separate and distinct indebtedness, obligations and liabilities of the Company to each of the Purchasers, which the Company is separately obligated to each Purchaser to pay and perform, in each case regardless of whether or not any indebtedness, obligation or liability to any other Purchaser or any other person or entity, or any agreement, instrument or guaranty that evidences any such other indebtedness, liability or obligation, or any provision thereof, shall for any reason be or become void, voidable, unenforceable or discharged, whether by payment, performance, avoidance or otherwise; and (b) the Lien that secures each Purchaser’s respective Secured Obligations (i) is separate and distinct from any and all other Liens on the Collateral, (ii) is enforceable without regard to whether or not any other Lien shall be or become void, voidable or unenforceable or the indebtedness, obligations or liabilities secured by any such other Lien shall be discharged, whether by payment, performance, avoidance or otherwise, and (iii) shall not merge with or be impaired by any other Lien.