LOAN DOCUMENT OR IN ANY
WRITING DELIVERED TO BANK OR TO INDUCE BANK TO ENTER THIS AGREEMENT OR ANY LOAN
DOCUMENT, AND SUCH REPRESENTATION, WARRANTY, OR OTHER STATEMENT IS INCORRECT IN
ANY MATERIAL RESPECT WHEN MADE;
8.9
SUBORDINATED DEBT. A DEFAULT OR BREACH OCCURS UNDER ANY AGREEMENT
BETWEEN ANY BORROWER, PARENT OR ANY SUBSIDIARY OF PARENT AND ANY CREDITOR OF
BORROWER, PARENT OR ANY SUBSIDIARY OF PARENT THAT SIGNED A SUBORDINATION,
INTERCREDITOR, OR OTHER SIMILAR AGREEMENT WITH BANK, OR ANY CREDITOR THAT HAS
SIGNED SUCH AN AGREEMENT WITH BANK BREACHES ANY TERMS OF SUCH AGREEMENT; OR
8.10
CROSS-DEFAULT. A DEFAULT OR BREACH OCCURS UNDER ANY AGREEMENT
BETWEEN OR BY A GUARANTOR, WITH OR IN FAVOR OF BANK, WHICH DEFAULT OR BREACH
SHALL NOT HAVE BEEN CURED OR WAIVED WITHIN ANY APPLICABLE GRACE PERIOD.
9
BANK'S RIGHTS AND REMEDIES
9.1
RIGHTS AND REMEDIES. WHILE AN EVENT OF DEFAULT OCCURS AND CONTINUES
BANK MAY, WITHOUT NOTICE OR DEMAND, DO ANY OR ALL OF THE FOLLOWING:
(A)
DECLARE ALL OBLIGATIONS IMMEDIATELY DUE AND PAYABLE (BUT IF AN
EVENT OF DEFAULT DESCRIBED IN SECTION 8.5 OCCURS ALL OBLIGATIONS ARE IMMEDIATELY
DUE AND PAYABLE WITHOUT ANY ACTION BY BANK);
15
(B)
STOP ADVANCING MONEY OR EXTENDING CREDIT FOR BORROWERS' BENEFIT
UNDER THIS AGREEMENT OR UNDER ANY OTHER AGREEMENT BETWEEN ANY BORROWER AND BANK,
INCLUDING, WITHOUT LIMITATION, BY TERMINATING THE REVOLVING LINE EFFECTIVE
IMMEDIATELY;
(C)
DEMAND THAT BORROWERS (I) DEPOSITS CASH WITH BANK IN AN AMOUNT
EQUAL TO THE AGGREGATE AMOUNT OF ANY LETTERS OF CREDIT REMAINING UNDRAWN, AS
COLLATERAL SECURITY FOR THE REPAYMENT OF ANY FUTURE DRAWINGS UNDER SUCH LETTERS
OF CREDIT, AND BORROWERS SHALL FORTHWITH DEPOSIT AND PAY SUCH AMOUNTS, AND (II)
PAY IN ADVANCE ALL LETTER OF CREDIT FEES SCHEDULED TO BE PAID OR PAYABLE OVER
THE REMAINING TERM OF ANY LETTERS OF CREDIT;
(D)
TERMINATE ANY FX FORWARD CONTRACTS;
(E)
SETTLE OR ADJUST DISPUTES AND CLAIMS DIRECTLY WITH ACCOUNT DEBTORS
FOR AMOUNTS ON TERMS AND IN ANY ORDER THAT BANK CONSIDERS ADVISABLE, NOTIFY ANY
PERSON OWING ANY BORROWER MONEY OF BANK'S SECURITY INTEREST IN SUCH FUNDS, AND
VERIFY THE AMOUNT OF SUCH ACCOUNT;
(F)
MAKE ANY PAYMENTS AND DO ANY ACTS IT CONSIDERS NECESSARY OR
REASONABLE TO PROTECT THE COLLATERAL AND/OR ITS SECURITY INTEREST IN THE
COLLATERAL. BORROWERS SHALL ASSEMBLE THE COLLATERAL IF BANK REQUESTS AND MAKE IT
AVAILABLE AS BANK DESIGNATES. BANK MAY ENTER PREMISES WHERE THE COLLATERAL IS
LOCATED, TAKE AND MAINTAIN POSSESSION OF ANY PART OF THE COLLATERAL, AND PAY,
PURCHASE, CONTEST, OR COMPROMISE ANY LIEN WHICH APPEARS TO BE PRIOR OR SUPERIOR
TO ITS SECURITY INTEREST AND PAY ALL EXPENSES INCURRED. EACH BORROWER GRANTS
BANK A LICENSE TO ENTER AND OCCUPY ANY OF ITS PREMISES, WITHOUT CHARGE, TO
EXERCISE ANY OF BANK'S RIGHTS OR REMEDIES;
(G)
APPLY TO THE OBLIGATIONS ANY (I) BALANCES AND DEPOSITS OF ANY
BORROWER IT HOLDS, OR (II) ANY AMOUNT HELD BY BANK OWING TO OR FOR THE CREDIT OR
THE ACCOUNT OF ANY BORROWER;
(H)
SHIP, RECLAIM, RECOVER, STORE, FINISH, MAINTAIN, REPAIR,