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performance and observance of any obligation, agreement or covenant of the <br />Borrower under this Loan Agreement and the Note. <br />Section 6.03. No Waiver of Ri¢hts. No failure or delay by the Issuer <br />or the Trustee in exercising any right, remedy, power or privilege hereunder, not <br />any single or partial exercise thereof nor the exercise of any other right, <br />remedy, power or privilege shall operate as a waiver hereof or thereof. No <br />failure or delay by the Issuer or the Trustee in exercising any right, remedy, <br />power or privilege under or in respect of the Bonds, the Indenture, this Loan <br />Agreement or the Note shall affect the rights, remedies, powers or privileges of <br />the Issuer or the Trustee hereunder or shall operate as a waiver thereof. The <br />rights, remedies, powers and privileges of the Issuer and the Trustee hereunder <br />are cumulative and not exclusive of any other rights, remedies, powers or <br />privileges now or hereafter existing at law or in equity. <br />Section 6.04. Waiver of Default. In the event that any agreement <br />contained herein or in the Note shall be breached by either party and such breach <br />shall thereafter be waived by the other party, such waiver shall be limited to <br />the particular breach so waived and shall not be deemed to waive any other breach <br />hereunder or under the Note, as the case may be. <br />- 21 - <br />