BY ANY AGENT TO CURE ANY
DEFECT IN THE EXECUTION AND DELIVERY OF ANY LOAN DOCUMENT IN ORDER TO EFFECTUATE
THE TRANSACTIONS CONTEMPLATED BY THE LOAN DOCUMENTS, AND IN ORDER TO GRANT,
PRESERVE, PROTECT AND PERFECT THE VALIDITY AND PRIORITY OF THE LIENS CREATED BY
THE SECURITY DOCUMENTS.
7.6
BOOKS AND RECORDS.
MAINTAIN BOOKS OF RECORD
AND ACCOUNT WHICH PERMIT FINANCIAL STATEMENTS TO BE PREPARED IN ACCORDANCE WITH
GAAP.
7.7
INSURANCE.
MAINTAIN INSURANCE ON ITS
PROPERTY WITH RESPONSIBLE COMPANIES IN SUCH AMOUNTS, WITH SUCH DEDUCTIBLES AND
AGAINST SUCH RISKS AS ARE USUALLY CARRIED BY OWNERS OF SIMILAR BUSINESSES AND
PROPERTIES IN THE SAME GENERAL AREAS IN WHICH THE APPLICABLE OBLIGOR OPERATES.
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THESE INSURANCE PROVISIONS ARE CUMULATIVE OF THE INSURANCE PROVISIONS OF THE
SECURITY DOCUMENTS.
EACH AGENT SHALL BE PROVIDED WITH A CERTIFICATE SHOWING
COVERAGES PROVIDED UNDER THE POLICIES OF INSURANCE AND SUCH POLICIES SHALL BE
ENDORSED TO THE EFFECT THAT PRIOR TO CANCELLATION, THE ISSUING INSURER WILL
ENDEAVOR TO MAIL NOTICE TO EACH AGENT (A) 10 DAYS PRIOR TO SUCH CANCELLATION IN
THE EVENT OF CANCELLATION FOR NONPAYMENT OF PREMIUM, AND (B) THIRTY (30) DAYS
PRIOR TO ANY OTHER REDUCTION OR MATERIAL CHANGE IN SUCH COVERAGE.
7.8
NOTICE OF CERTAIN MATTERS.
GIVE AGENTS
WRITTEN NOTICE OF THE FOLLOWING PROMPTLY AFTER ANY EXECUTIVE OFFICER OF ANY
BORROWER SHALL BECOME AWARE OF THE SAME:
(A)
THE ISSUANCE BY ANY APPLICABLE GOVERNMENTAL
AUTHORITY HAVING JURISDICTION IN THE MATTER OF ANY INJUNCTION, ORDER OR OTHER
RESTRAINT PROHIBITING, OR HAVING THE EFFECT OF PROHIBITING, THE PERFORMANCE OF
THIS AGREEMENT, ANY OTHER LOAN DOCUMENT, OR THE MAKING OF THE LOANS OR THE
ACCEPTANCE AND PURCHASE OF BANKERS' ACCEPTANCES OR THE INITIATION OF ANY
LITIGATION, OR ANY CLAIM OR CONTROVERSY WHICH WOULD REASONABLY BE EXPECTED TO
RESULT IN THE INITIATION OF ANY SUCH LITIGATION, SEEKING ANY SUCH INJUNCTION,
ORDER OR OTHER RESTRAINT;
(B)
THE COMMENCEMENT OF ANY LITIGATION OR
PROCEEDING AFFECTING U.S. BORROWER OR ANY OF ITS MATERIAL SUBSIDIARIES IN WHICH
THE THEN REASONABLY ANTICIPATED EXPOSURE OF THE U.S. BORROWER AND ITS MATERIAL
SUBSIDIARIES IS $10,000,000 OR MORE AND NOT COVERED BY INSURANCE, OR IN WHICH
INJUNCTIVE OR SIMILAR RELIEF IS SOUGHT WHICH IS THEN REASONABLY ANTICIPATED TO
HAVE AN ADVERSE ECONOMIC EFFECT ON U.S. BORROWER AND ITS MATERIAL SUBSIDIARIES
OF $10,000,000 OR MORE; AND
(C)
ANY EVENT OF DEFAULT OR DEFAULT, SPECIFYING
THE NATURE AND EXTENT THEREOF AND THE ACTION (IF ANY) WHICH IS PROPOSED TO BE
TAKEN WITH THE RESPECT THERETO.
Borrowers will also notify Agents in writing at least 30 days prior to the date
that any Obligor changes its name or the location of its chief executive office
or principal place of business or the place where it keeps its books and
records.
7.9
CAPITAL ADEQUACY.
IF ANY LENDER SHALL HAVE
REASONABLY DETERMINED THAT THE ADOPTION AFTER THE EFFECTIVE DATE OR
EFFECTIVENESS AFTER THE EFFECTIVE DATE (WHETHER OR NOT PREVIOUSLY ANNOUNCED) OF
ANY APPLICABLE LEGAL REQUIREMENT REGARDING CAPITAL ADEQUACY, OR ANY CHANGE
THEREIN AFTER THE EFFECTIVE DATE, OR ANY CHANGE IN