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<br /> <br /> Finance SIB # <br /> Sulphur River Regional Mobility Authority (Delta, Hunt, and Lamar Counties) <br /> <br /> Except as provided in the next following sentence, this Agreement shall bind, and shall be <br /> for the sole and exclusive benefit of, the respective parties. Each party is prohibited from <br /> assigning any of the rights or obligations conferred by this Agreement to any third party <br /> without the advance written approval of the other party. Any attempted assignment or <br /> other transfer of the rights or obligations of this Agreement without the consent of the other <br /> party shall be void and may be grounds for termination of this Agreement. <br /> <br /> Article 13. Relationship of the Parties <br /> Nothing in this Agreement shall be deemed or construed by the parties, or any third party, <br /> as creating the relationship of principal and agent between the State and the Authority. <br /> <br /> Article 14. Interpretation <br /> No provision of this Agreement shall be construed against or interpreted to the <br /> disadvantage of any party by any court or other governmental or judicial authority by <br /> reason of such party having or being deemed to have drafted, prepared, structured, or <br /> dictated such provision. <br /> <br /> Article 15. Interlocal Cooperative Agreement; Department Third Party Beneficiary <br /> Status <br /> The Department recognizes and agrees that the SIB Loan can only be repaid by the <br /> Authority and/or the Project may only be completed based upon the cash contributions <br /> from certain Participants (as defined in the Interlocal Cooperative Agreement) and/or the <br /> obligation of certain Participations to make the annual debt service payments for the <br /> benefit of the SIB Loan as set forth in the Interlocal Cooperative Agreement. As such, the <br /> Department is recognized as a third party beneficiary of the Interlocal Cooperative <br /> Agreement and may legally pursue any remedy against any of the Participants and/or the <br /> Authority to enforce the Department's rights, duties, and obligations set forth in this <br /> Agreement. <br /> <br /> Article 16. Signatory Authority <br /> Each party to this Agreement represents to the other that it is fully authorized to enter into <br /> this Agreement and to perform its obligations hereunder, and that no waiver, consent, <br /> approval, or authorization from any third party is required to be obtained or made in <br /> connection with the execution, delivery, or performance of this Agreement. Each signatory <br /> on behalf of the State and the Authority, as applicable, is fully authorized to bind that entity <br /> to the terms of this Agreement. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> 95447991.8 Page "14 <br />