MULTIEMPLOYER PLAN WHICH HAS RESULTED OR IS
REASONABLY EXPECTED TO RESULT IN LIABILITY OF THE PARENT, THE BORROWER OR ANY
SUBSIDIARY UNDER TITLE IV OF ERISA TO THE PENSION PLAN, MULTIEMPLOYER PLAN OR
THE PBGC IN AN AGGREGATE AMOUNT IN EXCESS OF $20,000,000, OR (II) THE PARENT,
THE BORROWER OR ANY ERISA AFFILIATE FAILS TO PAY WHEN DUE, AFTER THE EXPIRATION
OF ANY APPLICABLE GRACE PERIOD, ANY INSTALLMENT PAYMENT WITH RESPECT TO ITS
WITHDRAWAL LIABILITY UNDER SECTION 4201 OF ERISA UNDER A MULTIEMPLOYER PLAN
WHICH HAS RESULTED OR IS REASONABLY EXPECTED TO RESULT IN LIABILITY OF THE
PARENT, THE BORROWER OR ANY SUBSIDIARY IN AN AGGREGATE AMOUNT IN EXCESS OF
$20,000,000; OR
(J)
INVALIDITY OF LOAN DOCUMENTS.
ANY
MATERIAL PROVISION OF ANY LOAN DOCUMENT, AT ANY TIME AFTER ITS EXECUTION AND
DELIVERY AND FOR ANY REASON OTHER THAN AS EXPRESSLY PERMITTED HEREUNDER OR
THEREUNDER OR SATISFACTION IN FULL OF ALL THE OBLIGATIONS, CEASES TO BE IN FULL
FORCE AND EFFECT; OR ANY LOAN PARTY OR ANY OTHER PERSON CONTESTS IN ANY MANNER
THE VALIDITY OR ENFORCEABILITY OF ANY MATERIAL PROVISION OF ANY LOAN DOCUMENT;
OR ANY LOAN PARTY DENIES THAT IT HAS ANY OR FURTHER LIABILITY OR OBLIGATION
UNDER ANY LOAN DOCUMENT, OR PURPORTS TO REVOKE, TERMINATE OR RESCIND ANY
MATERIAL PROVISION OF ANY LOAN DOCUMENT; OR
81
(K)
FAILURE TO COMPLY WITH FCC.
(I) THE FCC OR
ANY OTHER LICENSING AUTHORITY SHALL REVOKE, TERMINATE, SUBSTANTIALLY AND
ADVERSELY MODIFY OR REFUSE BY FINAL ORDER TO RENEW ANY LICENSE RELATING TO A
STATION OR STATIONS OR (II) THE BORROWER OR ANY LICENSE SUBSIDIARY SHALL BE
REQUIRED PURSUANT TO A FINAL NON-APPEALABLE ORDER TO SELL OR OTHERWISE DISPOSE
OF ANY STATION; SO LONG AS IN EACH CASE OF (I) AND (II) PRECEDING SUCH EVENT OR
FAILURE IS REASONABLY EXPECTED TO HAVE A MATERIAL ADVERSE EFFECT; OR
(L)
CHANGE OF CONTROL.
THERE OCCURS ANY
CHANGE OF CONTROL.
(M)
UNRESTRICTED SUBSIDIARIES.
ANY EVENT OR
CIRCUMSTANCE DESCRIBED IN THE PRECEDING SUBSECTIONS (E), (F), (H) AND (K) SHALL
HAVE OCCURRED WITH RESPECT TO ANY UNRESTRICTED SUBSIDIARY, AND SUCH EVENT OR
CIRCUMSTANCE WOULD REASONABLY BE EXPECTED TO RESULT IN AN MATERIAL ADVERSE
EFFECT.
8.02
REMEDIES UPON EVENT OF DEFAULT.
IF ANY EVENT OF
DEFAULT OCCURS AND IS CONTINUING, THE ADMINISTRATIVE AGENT SHALL, AT THE REQUEST
OF, OR MAY, WITH THE CONSENT OF, THE REQUIRED LENDERS, TAKE ANY OR ALL OF THE
FOLLOWING ACTIONS:
(A)
DECLARE THE COMMITMENT OF EACH LENDER TO MAKE
LOANS AND ANY OBLIGATION OF THE L/C ISSUER TO MAKE L/C CREDIT EXTENSIONS TO BE
TERMINATED, WHEREUPON SUCH COMMITMENTS AND OBLIGATION SHALL BE TERMINATED;
(B)
DECLARE THE UNPAID PRINCIPAL AMOUNT OF ALL
OUTSTANDING LOANS, ALL INTEREST ACCRUED AND UNPAID THEREON, AND ALL OTHER
AMOUNTS OWING OR PAYABLE HEREUNDER OR UNDER ANY OTHER LOAN DOCUMENT TO BE
IMMEDIATELY DUE AND PAYABLE, WITHOUT PRESENTMENT, DEMAND, PROTEST OR OTHER
NOTICE OF ANY KIND, ALL OF WHICH ARE HEREBY EXPRESSLY WAIVED BY THE PARENT, THE
BORROWER AND EACH SUBSIDIARY;
(C)
REQUIRE THAT THE BORROWER CASH COLLATERALIZE
THE L/C