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16 <br /> paragraph. (c ) of this Section do not take place within the <br /> time set forth or any extension thereof, the Company agrees <br /> that it will reimburse the Authority for all reasonable out- <br /> of-pocket expenses, arising from the execution of this <br /> Memorandum of Agreement and .the performance by the Authority <br /> of its obligations hereunder, and this Memorandum of <br /> Agreement shall thereupon terminate . <br /> (e) So ,long as this Memorandum of Agreement is in <br /> effect, all risk of loss to the Project will be borne by the <br /> Company. <br /> ( f) The Company hereby releases the Authority from, <br /> agrees that the Authority and each Commissioner, officer and <br /> employee thereof shall not be liable for, and agrees to <br /> indemnify and hold harmless the Authority and each <br /> Commissioner, officer and employee thereof from, any <br /> liabilities, obligations, claims, damages, litigation, costs <br /> and expenses (including attorneys ' fees and expenses) <br /> imposed on, incurred by or asserted against the Authority or <br /> any Commissioner, officer or employee thereof for any reason <br /> whatsoever pertaining to the Project, the bonds or this <br /> Memorandum of Agreement or any transaction contemplated by <br /> this Memorandum of Agreement. <br /> (g) As a matter of general assurance by the Company to <br /> the Authority, the Company hereby covenants and agrees that <br /> it will indemnify the Authority for all reasonable expenses, <br /> costs and obligations incurred by the Authority under the <br /> provisions of this Memorandum of Agreement to the end that <br /> the Authority will not suffer any out-of-pocket losses as a <br /> result of the carrying out of any of its undertakings herein <br /> contained. It is furthermore expressly agreed that any <br /> pecuniary liability or obligation of the Authority hereunder <br /> shall be limited solely to the payments received by the <br /> Authority from the Company and to moneys derived from any <br /> financing relating to the Project, and nothing contained JM <br /> this Memorandum of Agreement shall ever be construed to <br /> constitute a personal or pecuniary liability or charge <br /> against any Commissioner 'o'r any .officer or employee of the <br /> Authority, and in the event of. a breach of any undertaking <br /> on the part of the Authority contained in this Memorandum of <br /> Agreement, no personal or pecuniary liability or charge <br /> payable directly or indirectly from the general funds of the <br /> Authority shall arise therefrom. <br /> (h) In any event, the provisions of this Memorandum of <br /> Agreement shall be superseded by the agreements entered into <br /> by the Authority and the Company in accordance with Section <br /> 3 (c) of this Agreement. <br /> 5 <br />