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135242317v3 <br /> <br /> <br />32 <br /> <br />Project. In addition, any such enforcement must not cause Borrower to file a <br />petition seeking reorganization, arrangement, adjustment or composition of or in <br />respect of Borrower under any applicable liquidation, insolvency, bankruptcy, <br />construction, composition, reorganization, conservation or other similar law in <br />effect now or in the future. <br />Section 7.07 Assumption of Obligations. In the event that Fiscal Agent or Funding <br />Lender or their respective assignee or designee shall become the legal or beneficial owner of the <br />Project by foreclosure or deed in lieu of foreclosure, such party shall succeed to the rights and the <br />obligations of Borrower under this Project Loan Agreement, the Project Note, the TEL Regulatory <br />Agreement, and any other Financing Documents to which Borrower is a party or with respect to <br />which it is a third-party beneficiary. Such assumption shall be effective from and after the effective <br />date of such acquisition and shall be made with the benefit of the limitations of liability set forth <br />therein and without any liability for the prior acts of Borrower. <br />ARTICLE VIII <br />MISCELLANEOUS <br />Section 8.01 Notices. <br />(a) Whenever in this Project Loan Agreement the giving of notice by mail or <br />otherwise is required, the giving of such notice may be waived in writing by the person <br />entitled to receive such notice and in any such case the giving or receipt of such notice shall <br />not be a condition precedent to the validity of any action taken in reliance upon such <br />waiver. <br />Any notice, request, complaint, demand, communication or other paper required or <br />permitted to be delivered to Governmental Lender, Fiscal Agent, Funding Lender <br />Representative, Borrower, Investor Limited Partner, or Loan Servicer shall be sufficiently <br />given and shall be deemed given (unless another form of notice shall be specifically set <br />forth herein) on the Business Day following the date on which such notice or other <br />communication shall have been delivered to a national overnight delivery service (receipt <br />of which to be evidenced by a signed receipt from such overnight delivery service) <br />addressed to the appropriate party at the addresses set forth in Section 10.04 of the Funding <br />Loan Agreement or as required or permitted by this Project Loan Agreement by Electronic <br />Instruction and Notice. Governmental Lender, Fiscal Agent, Funding Lender <br />Representative, Borrower or Loan Servicer may, by notice given as provided in this <br />paragraph, designate any further or different address to which subsequent notices or other <br />communication shall be sent. <br />A duplicate copy of each notice or other communication given hereunder by any <br />party to Loan Servicer shall also be given to Funding Lender Representative and a duplicate <br />copy of each notice or other communication given hereunder by any party to Funding <br />Lender Representative shall be given to Loan Servicer. Additionally, a duplicate copy of <br />each notice or other communication given hereunder by any party to the Borrower shall <br />also be given to the Investor Limited Partner of the Borrower.