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Authority of its obligations hereunder, and this Memorandum of Agreement shall thereupon terminate. (e) So long as this Memorandum of Agreement is in effect, all risk of loss to the Project will be borne by the Company. ................................... (f) The Company hereby releases the Authority from, agrees that the Authority and each Commissioner, officer and employee thereof shall not be liable for, and agrees to indemnify and hold harmless the Authority and each Commissioner, officer and employee thereof from, any liabilities, obligations, claims, damages, litigation~ costs and expenses (including attorneys' fees and expenses) imposed on, incurred by or asserted against the Authority or any Commissioner, officer or employee thereof for any reason whatsoever pertaining to the Project, the bonds or this Memorandum of Agree- ment or any transaction contemplated by this Memorandum of Agreement. (g) As a matter of general assurance by the Com- pany to the Authority, the Company hereby covenants and agrees that it will indemnify the Authority for all reasonable expenses, costs and obligations incurred by the Authority under the provisions of this Memorandum of Agreement to the end that the Authority will not suffer any out-of-pocket losses as a result of the carrying out of any of its undertakings herein con- tained. It is furthermore expressly agreed that any pecuniary liability or obligation of the Authority hereunder shall be limited solely to the payments received by the Authority from the Company and to moneys derived from any financing relating to the Project, and nothing contained in this Memorandum of Agreement shall ever be construed to constitute a personal or pecuniary liability or charge against any Commissioner or any officer or employee of the Author- ity, and in the event of a breach of any undertaking on the part of the Authority contained in this Memorandum of Agreement, no personal or pecuniary liability or charge payable directly or indirectly from the general funds of the Authority shall arise therefrom. (h) In any event, the provisions of this Memo- randum of Agreement shall be superseded by the agree- ments entered into by the Authority and the Company in accordance with Section 3(c) of this Agreement. (i) The Authority intends this Memorandum of Agreement to be "official action" as required by the applicable regulations issued under the Code. - 5 -