DECLARE SUCH INDEBTEDNESS FOR BORROWED MONEY
DUE, OR HAS THE RIGHT TO CAUSE THE BORROWER OR ANY GUARANTOR TO PURCHASE, REDEEM
OR OTHERWISE ACQUIRE SUCH INDEBTEDNESS FOR BORROWED MONEY, OR (Y) SUCH
INDEBTEDNESS FOR BORROWED MONEY AUTOMATICALLY BECOMES DUE,
52
BEFORE THE DATE ON WHICH IT OTHERWISE WOULD BECOME DUE, OR SUCH INDEBTEDNESS FOR
BORROWED MONEY SHALL AUTOMATICALLY BECOME SUBJECT TO PURCHASE, REDEMPTION OR
OTHER ACQUISITION; OR
(J)
ANY LOAN DOCUMENT, AT ANY TIME AFTER ITS EXECUTION AND DELIVERY
AND FOR ANY REASON OTHER THAN SATISFACTION IN FULL OF ALL THE OBLIGATIONS,
CEASES TO BE IN FULL FORCE AND EFFECT OR IS DECLARED BY A COURT OF COMPETENT
JURISDICTION TO BE NULL AND VOID, INVALID OR UNENFORCEABLE WHICH, IN ANY SUCH
EVENT IN THE REASONABLE OPINION OF THE LENDER, IS MATERIALLY ADVERSE TO THE
INTERESTS OF THE LENDER; OR THE BORROWER OR ANY GUARANTOR DENIES THAT IT HAS ANY
OR FURTHER LIABILITY OR OBLIGATION UNDER ANY LOAN DOCUMENT, OR PURPORTS TO
REVOKE, TERMINATE OR RESCIND THE SAME OR ANY PROVISION THEREOF; OR
(K)
A JUDGMENT OR ARBITRATION AWARD AGAINST THE BORROWER OR ANY
GUARANTOR IS ENTERED FOR THE PAYMENT OF MONEY IN EXCESS OF $5,000,000 OVER THE
AMOUNT THEREOF THAT IS FULLY COVERED BY REPUTABLE AND SOLVENT INSURANCE
COMPANIES WITH THE FINANCIAL ABILITY TO PAY THE SAME AND WHO HAVE AGREED IN
WRITING TO COVER SUCH CLAIM (OTHER THAN ANY SUCH JUDGMENT OR AWARD IN CONNECTION
WITH THE EMINENT DOMAIN PROCEEDINGS CONDUCTED BY THE EMPIRE STATE DEVELOPMENT
CORPORATION ON THE BORROWER'S BEHALF, WHICH RELATE TO THE PROPERTY IN NIAGARA
FALLS, NEW YORK DESIGNATED FOR OWNERSHIP BY THE NATION IN THE COMPACT); OR (I) A
JUDGMENT OR ARBITRATION AWARD AGAINST THE BORROWER OR ANY GUARANTOR IS ENTERED
THAT COULD RESULT IN A MATERIAL LIEN ON ANY GAMING ASSETS; OR (II) ANY
NON-MONETARY FINAL JUDGMENT OR ARBITRATION AWARD IS ENTERED AGAINST THE BORROWER
OR ANY GUARANTOR WHICH COULD HAVE A MATERIAL ADVERSE EFFECT; OR (III) ANY DELAY
IN PAYMENT OF ANY JUDGMENT OR ARBITRATION AWARD AGAINST THE BORROWER OR ANY
GUARANTOR THAT COULD REASONABLY BE EXPECTED TO HAVE A MATERIAL ADVERSE EFFECT
AND, ABSENT PROCUREMENT OF A STAY OF EXECUTION, ANY SUCH JUDGMENT (UNDER CLAUSE
(I), (II), OR (III) REMAINS UNBONDED OR UNSATISFIED FOR 30 CALENDAR DAYS AFTER
THE DATE OF ENTRY OF JUDGMENT (UNLESS THE BORROWER HAS DEPOSITED THE AMOUNT OF
THE MONETARY AWARD ASSOCIATED WITH SUCH JUDGMENT OR ARBITRATION AWARD INTO A
COURT ESCROW PENDING DETERMINATION OF AN APPEAL), OR IN ANY EVENT LATER THAN 30
DAYS PRIOR TO THE DATE OF ANY PROPOSED SALE THEREUNDER; OR
(L)
THE BORROWER OR ANY GUARANTOR INSTITUTES OR CONSENTS TO ANY
PROCEEDING UNDER A DEBTOR RELIEF LAW RELATING TO IT OR TO ALL OR ANY MATERIAL
PART OF ITS PROPERTY, OR IS UNABLE OR ADMITS IN WRITING ITS INABILITY TO PAY ITS
DEBTS AS THEY MATURE, OR MAKES AN ASSIGNMENT FOR THE BENEFIT OF CREDITORS; OR
APPLIES FOR OR CONSENTS TO THE APPOINTMENT OF ANY RECEIVER, TRUSTEE, CUSTODIAN,
CONSERVATOR, LIQUIDATOR, REHABILITATOR OR