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<br />7 <br /> <br /> <br />16. WAIVER <br /> <br />Neither the failure nor any delay on the part of a Party to exercise any right, remedy, power, <br />or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or <br />partial exercise of any right, remedy, power, or privilege preclude any other or further <br />exercise of the same or of any right, remedy, power, or privilege with respect to any <br />occurrence be construed as a waiver of any such right, remedy, power, or privilege with <br />respect to any other occurrence. No waiver shall be effective unless it is in writing and is <br />signed by the party asserted to have granted such waiver. <br /> <br />17. SEVERABILITY <br />If any term or provision of this Agreement is held by a court of competent jurisdiction to <br />be invalid, void, or unenforceable, the remaining terms and provisions of this Agreement <br />shall continue in full force and effect unless amended or modified by mutual consent of <br />the Parties. <br /> <br />18. FURTHER ASSURANCES <br /> <br />The Parties agree that they will each undertake in good faith, as permitted by law, any <br />action and execute and deliver any document reasonably required to carry out the intents <br />and purposes of this Agreement. <br /> <br />19. TIME <br /> <br />Time is of the essence of this Agreement. <br /> <br />20. ENTIRE AGREEMENT <br /> <br />This Agreement embodies the entire agreement between the Owner and the Commission <br />and supersedes all prior discussions, understandings, or agreements between the Owner <br />and the Commission concerning the transaction contemplated in this Agreement, whether <br />written or oral. <br /> <br />21. BINDING EFFECT; COUNTERPARTS; SIGNATURES <br /> <br />All the terms and conditions of this Agreement will be effective and binding upon the <br />Parties and their successors and assigns at the time the Agreement is fully signed and <br />delivered by the Commission and the Owner. This Agreement may be separately executed <br />in counterparts by the Commission and the Owner, and the same, when taken together, will <br />be regarded as one original Agreement. Facsimile signatures will be regarded as original <br />signatures. <br /> <br /> <br /> <br />