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15 <br /> ARTICLE VII <br /> Term of Agreement; Withdrawal <br /> 7.01. Term, This Agreement (a) shall take effect immediately upon its <br /> execution and delivery by all the Parties, and (b) shall continue in effect so long as there <br /> are at least two Parties to the Agreement, in each case subject to the provisions of Section <br /> 1.02. <br /> 7.02. Withdrawal of a Party. (a) Any Party may withdraw from this <br /> Agreement (and thereby cease to be a Party to this Agreement) upon notice given to all <br /> the other Parties and subject to the other provisions of this Section. <br /> (b) A withdrawal may be effective only upon the beginning of a Fiscal Year. <br /> A Town may withdraw only with at least one year's notice. The County may withdraw <br /> only with at least two years' notice. <br /> (c) No withdrawal shall relieve a Party of its obligations under Section 2.04 so <br /> long as there is System Debt Outstanding; provided, however, that System Debt first <br /> issued or contracted after the date a Party gives notice of withdrawal shall be disregarded <br /> for the purposes of this subsection. <br /> (d) No withdrawal shall relieve any Party of its individual liability, if any, <br /> under environmental laws or otherwise, related to its respective use or ownership of the <br /> Solid Waste System which may accrue or have accrued prior to the effective date of such <br /> Party's withdrawal. <br /> ARTICLE VIII <br /> Parties' Representations and Warranties <br /> The Parties hereby represent and warrant, one to each other, but each only as to <br /> itself, as follows: <br /> (a) Valid Existence; Due Authorization The Party is a public body <br /> validly organized and existing under State law, has full power to enter into this <br /> Agreement and has duly authorized, executed and delivered this Agreement. <br /> (b) Valid Obligation. This Agreement, when executed and delivered by <br /> the Party and assuming its due authorization, execution and delivery by each other Party, <br /> will be the legal, valid and binding obligation of the Party, enforceable in accordance <br /> with its terms, except to the extent the same may be limited by the application of <br /> insolvency and similar general laws and by the application of equitable principles. <br /> 13 <br />