DEBTS AS
THEY BECOME DUE;
(G)
A RECEIVER, LIQUIDATOR OR TRUSTEE SHALL BE APPOINTED FOR BORROWER,
SOLE MEMBER OR GUARANTOR; OR BORROWER, SOLE MEMBER OR GUARANTOR SHALL BE
ADJUDICATED A BANKRUPT OR INSOLVENT; OR ANY PETITION FOR BANKRUPTCY,
REORGANIZATION OR ARRANGEMENT PURSUANT TO FEDERAL BANKRUPTCY LAW, OR ANY SIMILAR
FEDERAL OR STATE LAW, SHALL BE FILED BY OR AGAINST, CONSENTED TO, OR ACQUIESCED
IN BY, BORROWER, SOLE MEMBER OR GUARANTOR, AS THE CASE MAY BE; OR ANY PROCEEDING
FOR THE DISSOLUTION OR LIQUIDATION OF BORROWER, SOLE MEMBER OR GUARANTOR SHALL
BE INSTITUTED; PROVIDED, HOWEVER, IF SUCH APPOINTMENT, ADJUDICATION, PETITION OR
PROCEEDING WAS INVOLUNTARY AND NOT CONSENTED TO BY BORROWER, SOLE MEMBER OR
GUARANTOR, AS THE CASE MAY BE, ONLY UPON THE SAME NOT BEING DISCHARGED, STAYED
OR DISMISSED WITHIN NINETY (90) DAYS;
59
(H)
BORROWER BREACHES ANY COVENANT CONTAINED IN SECTIONS 5.12.1 (A) -
(F), 5.13, 5.15, 5.22, OR 5.28 HEREOF.
(I)
EXCEPT AS EXPRESSLY PERMITTED HEREUNDER, THE ACTUAL OR THREATENED
ALTERATION, IMPROVEMENT, DEMOLITION OR REMOVAL OF ALL OR ANY PORTION OF ANY OF
THE IMPROVEMENTS WITHOUT THE PRIOR WRITTEN CONSENT OF LENDER;
(J)
AN EVENT OF DEFAULT AS DEFINED OR DESCRIBED ELSEWHERE IN THIS
AGREEMENT OR IN ANY OTHER LOAN DOCUMENT OCCURS; OR ANY OTHER EVENT SHALL OCCUR
OR CONDITION SHALL EXIST, IF THE EFFECT OF SUCH EVENT OR CONDITION IS TO
ACCELERATE OR TO PERMIT LENDER TO ACCELERATE THE MATURITY OF ANY PORTION OF THE
DEBT;
(K)
A DEFAULT OCCURS UNDER ANY TERM, COVENANT OR PROVISION SET FORTH
HEREIN OR IN ANY OTHER LOAN DOCUMENT WHICH SPECIFICALLY CONTAINS A NOTICE
REQUIREMENT OR GRACE PERIOD AND SUCH NOTICE HAS BEEN GIVEN AND SUCH GRACE PERIOD
HAS EXPIRED;
(L)
ANY OF THE ASSUMPTIONS CONTAINED IN ANY SUBSTANTIVE
NON-CONSOLIDATION OPINION, DELIVERED TO LENDER BY BORROWER'S COUNSEL IN
CONNECTION WITH THE LOAN OR OTHERWISE HEREUNDER, WERE NOT TRUE AND CORRECT IN
ALL MATERIAL RESPECTS AS OF THE DATE OF SUCH OPINION OR THEREAFTER BECAME UNTRUE
OR INCORRECT, PROVIDED THAT IN EITHER CASE, NO EVENT OF DEFAULT SHALL BE DEEMED
TO HAVE OCCURRED IF SUCH COUNSEL REAFFIRMS ITS SUBSTANTIVE NON-CONSOLIDATION
OPINION; OR
(M)
A DEFAULT SHALL BE CONTINUING UNDER ANY OF THE OTHER TERMS,
COVENANTS OR CONDITIONS OF THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT NOT
OTHERWISE SPECIFIED IN THIS SECTION 8.1, FOR TEN (10) DAYS AFTER NOTICE TO
BORROWER (AND GUARANTOR, IF APPLICABLE) FROM LENDER, IN THE CASE OF ANY DEFAULT
WHICH CAN BE CURED BY THE PAYMENT OF A SUM OF MONEY, OR FOR THIRTY (30) DAYS
AFTER NOTICE FROM LENDER IN THE CASE OF ANY OTHER DEFAULT; PROVIDED, HOWEVER,
THAT IF SUCH NON-MONETARY DEFAULT IS SUSCEPTIBLE OF CURE BUT CANNOT REASONABLY
BE CURED WITHIN SUCH THIRTY (30)-DAY PERIOD, AND BORROWER (OR GUARANTOR, IF
APPLICABLE) SHALL HAVE COMMENCED TO CURE SUCH DEFAULT WITHIN SUCH THIRTY
(30)-DAY PERIOD AND THEREAFTER DILIGENTLY AND EXPEDITIOUSLY PROCEEDS TO CURE THE
SAME, SUCH THIRTY (30)-DAY PERIOD SHALL BE EXTENDED FOR AN ADDITIONAL PERIOD OF
TIME AS IS REASONABLY NECESSARY FOR BORROWER (OR GUARANTOR, IF APPLICABLE)