THE TERMS OF THIS AGREEMENT OR IN
CONNECTION WITH THE LOAN, SHALL BE UNTRUE OR INCOMPLETE IN ANY MATERIAL RESPECT
WHEN MADE.
(E)
AN EVENT OF DEFAULT, AFTER THE EXPIRATION
OF ANY APPLICABLE NOTICE AND/OR CURE PERIOD PROVIDED THEREUNDER, SHALL EXIST
UNDER THE TERMS OF ANY OTHER CREDIT FACILITY OR OTHER AGREEMENT NOW OR HEREAFTER
EXISTING BETWEEN BORROWER AND LENDER OR JHA EAST 7 LLC, AND/OR BETWEEN ANY OTHER
AFFILIATE OF BORROWER AND LENDER OR JHA EAST 7 LLC.
(F)
A DEFAULT SHALL EXIST UNDER THE TERMS OF
BORROWER'S FORMATION DOCUMENTS.
(G)
THE ENVIRONMENTAL INDEMNITY, AT ANY TIME AND
FOR ANY REASON CEASES TO BE IN FULL FORCE AND EFFECT, OR BORROWER CONTESTS OR
DENIES THE VALIDITY OR ENFORCEABILITY OF THE ENVIRONMENTAL INDEMNITY, OR GIVES
NOTICE TO LENDER TO SUCH EFFECT, OR OTHERWISE ATTEMPTS TO REVOKE OR REPUDIATE
ANY OF THE FOREGOING AS TO ANY EXISTING OR FUTURE OBLIGATIONS.
(H)
BORROWER SHALL FAIL TO MAINTAIN INSURANCE AS
REQUIRED BY THE DEED OF TRUST OR SHALL FAIL TO FURNISH TO LENDER PROOF OF
PAYMENT OF ALL PREMIUMS FOR SUCH INSURANCE.
(I)
A TRANSFER, ENCUMBRANCE, LIEN, CHANGE OF
OWNERSHIP OR OTHER ACTION OR OCCURRENCE PROHIBITED BY THE DEED OF TRUST SHALL
OCCUR.
(J)
LENDER FAILS TO HAVE AN ENFORCEABLE LIEN
ON OR SECURITY INTEREST IN ANY PROPERTY OR COLLATERAL GIVEN AS SECURITY FOR THE
LOAN.
(K)
IF BORROWER SHALL (I) MAKE AN ASSIGNMENT
FOR THE BENEFIT OF CREDITORS; (II) GENERALLY NOT BE PAYING ITS DEBTS AS THEY
BECOME DUE; OR (III) ADMIT IN WRITING ITS INABILITY TO PAY ITS DEBTS AS THEY
BECOME DUE;
22
(L)
OTHER THAN WITH RESPECT TO THE CURRENT
BANKRUPTCY, IF (I) BORROWER SHALL COMMENCE ANY CASE, PROCEEDING OR OTHER ACTION
UNDER ANY EXISTING OR FUTURE LAW OF ANY JURISDICTION, DOMESTIC OR FOREIGN,
RELATING TO BANKRUPTCY, INSOLVENCY, REORGANIZATION, CONSERVATORSHIP OR RELIEF OF
DEBTORS (A) SEEKING TO HAVE AN ORDER FOR RELIEF ENTERED WITH RESPECT TO IT, OR
SEEKING TO ADJUDICATE IT A BANKRUPT OR INSOLVENT, OR SEEKING REORGANIZATION,
ARRANGEMENT, ADJUSTMENT, WINDING-UP, LIQUIDATION, DISSOLUTION, COMPOSITION OR
OTHER RELIEF WITH RESPECT TO IT OR ITS DEBTS, OR (B) SEEKING APPOINTMENT OF A
RECEIVER, TRUSTEE, CUSTODIAN, CONSERVATOR OR OTHER SIMILAR OFFICIAL FOR IT OR
FOR ALL OR ANY SUBSTANTIAL PART OF ITS ASSETS; OR (II) THERE SHALL BE COMMENCED
AGAINST BORROWER ANY CASE, PROCEEDING OR OTHER ACTION OF A NATURE REFERRED TO IN
CLAUSE (I) ABOVE BY ANY PARTY OTHER THAN LENDER WHICH (A) RESULTS IN THE ENTRY
OF AN ORDER FOR RELIEF OR ANY SUCH ADJUDICATION OR APPOINTMENT, OR (B) REMAINS
UNDISMISSED, UNDISCHARGED OR UNBONDED FOR A PERIOD OF NINETY (90) DAYS; OR
(III) THERE SHALL BE COMMENCED AGAINST BORROWER ANY CASE, PROCEEDING OR OTHER
ACTION SEEKING ISSUANCE OF A WARRANT OF ATTACHMENT, EXECUTION, DISTRAINT OR
SIMILAR PROCESS AGAINST ALL OR ANY SUBSTANTIAL PART OF ITS ASSETS WHICH RESULTS
IN THE ENTRY OF ANY ORDER FOR ANY SUCH RELIEF WHICH SHALL NOT HAVE BEEN VACATED,
DISCHARGED, OR STAYED OR BONDED PENDING APPEAL WITHIN NINETY (90) DAYS FROM THE
ENTRY