DEFAULT UNDER SUCH OTHER TERM, PROVISION,
CONDITION OR COVENANT THAT CAN BE CURED, HAS FAILED TO CURE SUCH DEFAULT WITHIN
TEN DAYS AFTER BORROWER RECEIVES WRITTEN NOTICE THEREOF OR ANY OFFICER OF
BORROWER BECOMES AWARE THEREOF; PROVIDED, HOWEVER, THAT IF THE DEFAULT CANNOT BY
ITS NATURE BE CURED WITHIN THE TEN DAY PERIOD OR CANNOT AFTER DILIGENT ATTEMPTS
BY BORROWER BE CURED WITHIN SUCH TEN DAY PERIOD, AND SUCH DEFAULT IS LIKELY TO
BE CURED WITHIN A REASONABLE TIME, THEN BORROWER SHALL HAVE AN ADDITIONAL
REASONABLE PERIOD (WHICH SHALL NOT IN ANY CASE EXCEED 30 DAYS) TO ATTEMPT TO
CURE SUCH DEFAULT, AND WITHIN SUCH REASONABLE TIME PERIOD THE FAILURE TO HAVE
CURED SUCH DEFAULT SHALL NOT BE DEEMED AN EVENT OF DEFAULT BUT NO CREDIT
EXTENSIONS WILL BE MADE.
8.3
MATERIAL ADVERSE EFFECT.
IF THERE OCCURS ANY CIRCUMSTANCE OR
CIRCUMSTANCES THAT COULD REASONABLY BE EXPECTED TO HAVE A MATERIAL ADVERSE
EFFECT;
8.4
ATTACHMENT.
IF ANY PORTION OF BORROWER'S ASSETS IS ATTACHED,
SEIZED, SUBJECTED TO A WRIT OR DISTRESS WARRANT, OR IS LEVIED UPON, OR COMES
INTO THE POSSESSION OF ANY TRUSTEE, RECEIVER OR PERSON ACTING IN A SIMILAR
CAPACITY AND SUCH ATTACHMENT, SEIZURE, WRIT OR DISTRESS WARRANT OR LEVY HAS NOT
BEEN REMOVED, DISCHARGED OR RESCINDED WITHIN TEN (10) DAYS AFTER BORROWER
RECEIVES NOTICE THEREOF, OR IF BORROWER IS ENJOINED, RESTRAINED, OR IN ANY WAY
PREVENTED BY COURT ORDER FROM CONTINUING TO CONDUCT ALL OR ANY MATERIAL PART OF
ITS BUSINESS AFFAIRS, OR IF A JUDGMENT OR OTHER CLAIM BECOMES A LIEN OR
ENCUMBRANCE UPON ANY MATERIAL PORTION OF BORROWER'S ASSETS, OR IF A NOTICE OF
LIEN, LEVY, OR ASSESSMENT IS FILED OF RECORD WITH RESPECT TO ANY OF BORROWER'S
ASSETS BY THE UNITED
STATES GOVERNMENT, OR ANY DEPARTMENT, AGENCY, OR INSTRUMENTALITY THEREOF, OR BY
ANY STATE, COUNTY, MUNICIPAL, OR GOVERNMENTAL AGENCY, AND THE SAME IS NOT PAID
WITHIN TEN (10) DAYS AFTER BORROWER RECEIVES NOTICE THEREOF, PROVIDED THAT NONE
OF THE FOREGOING SHALL CONSTITUTE AN EVENT OF DEFAULT WHERE SUCH ACTION OR EVENT
IS STAYED OR AN ADEQUATE BOND HAS BEEN POSTED PENDING A GOOD FAITH CONTEST BY
BORROWER (PROVIDED THAT NO CREDIT EXTENSIONS WILL BE REQUIRED TO BE MADE DURING
SUCH CURE PERIOD);
8.5
INSOLVENCY.
IF BORROWER BECOMES INSOLVENT, OR IF AN INSOLVENCY
PROCEEDING IS COMMENCED BY BORROWER, OR IF AN INSOLVENCY PROCEEDING IS COMMENCED
AGAINST BORROWER AND IS NOT DISMISSED OR STAYED WITHIN FORTY FIVE (45) DAYS
(PROVIDED THAT NO CREDIT EXTENSIONS WILL BE MADE PRIOR TO THE DISMISSAL OF SUCH
INSOLVENCY PROCEEDING);
8.6
OTHER AGREEMENTS.
IF THERE IS A DEFAULT OR OTHER FAILURE TO
PERFORM (I) IN ANY AGREEMENT TO WHICH BORROWER IS A PARTY OR BY WHICH IT IS
BOUND RESULTING IN A RIGHT BY A THIRD PARTY OR PARTIES, WHETHER OR NOT
EXERCISED, TO ACCELERATE THE MATURITY OF ANY INDEBTEDNESS IN AN AMOUNT IN EXCESS
OF TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000) OR WHICH COULD HAVE A MATERIAL
ADVERSE EFFECT OR (II) UNDER THE CII NOTES (AS DEFINED IN SECTION 8.7);
8.7