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Finance SIB #S2012-005-01 <br />SuRRMA — (Paris District) <br />reason of such party having or being deemed to have drafted, prepared, structured, or <br />dictated such provision. <br />Article 16. Interlocal Cooperative Agreement; Department Third Party Beneflciary <br />Status <br />The Department recognizes and agrees that SIB Loan No. 1 can only be repaid by the <br />Authority based upon the cash. payments received, or interest eamings on payments <br />received from certain SIB Loan Participants and the obligation of the SIB Loan Participants <br />to provide the Contract Revenues for the benefit of SIB Loan No. 1 as set forth in the <br />Interlocal Cooperative Agreement. As such, the Department is recognized as a third party <br />beneficiary of the Inte�local Cooperative Agreement and may legally pursue any remedy <br />against any of the Participants and/or the Authority to enforce the Department's rights set <br />forth in this Agreement. <br />Article 17. 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 />connecction 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 />(Remainder of this page intentionally lefi blank) <br />Page 11 of 12 <br />