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10 <br />out as a result of a breach by the other party in default of this Agreement. In the event of <br />legal action initiated by a third party as a result of a breach of this Agreement, the breaching <br />party shall assume the defense of the non-breaching party, including all costs associated <br />therewith. <br />17.WAIVER <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 />18.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 />19.FURTHER ASSURANCES <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 />20.TIME <br />Time is of the essence of this Agreement. <br />21.ENTIRE AGREEMENT <br />This Agreement embodies the entire agreement between the Airport Authority and the <br />Commission and supersedes all prior discussions, understandings, or agreements between <br />the Airport Authority and the Commission concerning the transaction contemplated in this <br />Agreement, whether written or oral. <br />22.BINDING EFFECT; COUNTERPARTS; SIGNATURES <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 Airport Authority. This Agreement may be <br />separately executed in counterparts by the Commission and the Airport Authority, and the <br />same, when taken together, will be regarded as one original Agreement. Facsimile <br />signatures will be regarded as original signatures.