TERMINATION THE AGGREGATE ANNUAL CONTRIBUTIONS OF THE LOAN
PARTIES AND THE ERISA AFFILIATES TO ALL MULTIEMPLOYER PLANS THAT ARE THEN IN
REORGANIZATION OR BEING TERMINATED HAVE BEEN OR WILL BE INCREASED OVER THE
AMOUNTS CONTRIBUTED TO SUCH MULTIEMPLOYER PLANS FOR THE PLAN YEARS OF SUCH
MULTIEMPLOYER PLANS IMMEDIATELY PRECEDING THE PLAN YEAR IN WHICH SUCH
REORGANIZATION OR TERMINATION OCCURS BY AN AGGREGATE AMOUNT WHICH WOULD
REASONABLY BE EXPECTED TO EXCEED THE THRESHOLD AMOUNT; OR (IV) A TERMINATION,
WITHDRAWAL OR NONCOMPLIANCE WITH APPLICABLE LAW OR PLAN TERMS OR TERMINATION,
WITHDRAWAL OR OTHER EVENT SIMILAR TO AN ERISA EVENT OCCURS WITH RESPECT TO A
FOREIGN PLAN THAT WOULD REASONABLY BE EXPECTED TO EXCEED THE THRESHOLD AMOUNT;
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 THE SATISFACTION IN FULL OF ALL THE OBLIGATIONS, CEASES TO BE IN
FULL FORCE AND EFFECT; OR ANY LOAN PARTY CONTESTS IN ANY MANNER THE VALIDITY OR
ENFORCEABILITY OF ANY PROVISION OF ANY LOAN DOCUMENT; OR ANY LOAN PARTY DENIES
THAT IT HAS ANY OR FURTHER LIABILITY OR OBLIGATION UNDER ANY LOAN DOCUMENT
(OTHER THAN AS A RESULT OF REPAYMENT IN FULL OF THE OBLIGATIONS AND TERMINATION
OF THE AGGREGATE COMMITMENTS), OR PURPORTS TO REVOKE OR RESCIND ANY LOAN
DOCUMENT; OR
(K)
CHANGE OF CONTROL.
THERE OCCURS ANY CHANGE
OF CONTROL; OR
(L)
LIENS.
ANY COLLATERAL DOCUMENT OR
FINANCING STATEMENT AFTER DELIVERY THEREOF PURSUANT TO SECTION 4.01 OR
SECTION 6.11 AND, TO THE EXTENT APPLICABLE, TIMELY AND PROPER FILING THEREOF
WITH APPLICABLE AUTHORITIES, SHALL FOR ANY REASON (OTHER THAN PURSUANT TO THE
TERMS THEREOF) CEASE TO CREATE A VALID AND PERFECTED FIRST PRIORITY LIEN ON AND
SECURITY INTEREST IN THE COLLATERAL HAVING AN AGGREGATE FAIR MARKET VALUE IN
EXCESS OF $250,000 PURPORTED TO BE COVERED THEREBY, EXCEPT TO THE EXTENT THAT
ANY SUCH LOSS OF PERFECTION OR PRIORITY RESULTS FROM THE FAILURE OF THE
ADMINISTRATIVE AGENT AND THE COLLATERAL TRUSTEE TO MAINTAIN POSSESSION OF
CERTIFICATES ACTUALLY RECEIVED BY IT REPRESENTING SECURITIES PLEDGED UNDER THE
COLLATERAL DOCUMENTS OR TO FILE UNIFORM
91
COMMERCIAL CODE CONTINUATION STATEMENTS IN THE APPLICABLE JURISDICTIONS AS
REQUIRED UNDER THE UCC TO CONTINUE THE PERFECTION OF SUCH SECURITY INTEREST OR
THE EQUIVALENT IN THE APPLICABLE JURISDICTION.
Section 9.02
Remedies Upon Event of Default.
If
any Event of Default occurs and is continuing, the Administrative Agent may and,
at the request of the Required Lenders, shall 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 ISSUERS TO MAKE L/C CREDIT EXTENSIONS
TO BE TERMINATED, WHEREUPON SUCH COMMITMENTS AND OBLIGATIONS 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