ETC.
(1) ANY LOAN
PARTY COMMENCES A VOLUNTARY CASE UNDER THE BANKRUPTCY CODE, OR CONSENTS TO THE
ENTRY OF AN ORDER FOR RELIEF IN AN INVOLUNTARY CASE OR TO THE CONVERSION OF AN
INVOLUNTARY CASE TO A VOLUNTARY CASE UNDER ANY SUCH LAW OR CONSENTS TO THE
APPOINTMENT OF OR TAKING POSSESSION BY A RECEIVER, TRUSTEE OR OTHER CUSTODIAN
FOR ALL OR A SUBSTANTIAL PART OF ITS PROPERTY; OR (2) ANY LOAN PARTY MAKES ANY
ASSIGNMENT FOR THE BENEFIT OF CREDITORS; OR (3) THE BOARD OF DIRECTORS OF ANY
LOAN PARTY ADOPTS ANY RESOLUTION OR OTHERWISE AUTHORIZES ACTION TO APPROVE ANY
OF THE ACTIONS REFERRED TO IN THIS SECTION 8.1(G); OR
(H)
JUDGMENT AND ATTACHMENTS.
ANY MONEY JUDGMENT, WRIT OR WARRANT OF
ATTACHMENT, OR SIMILAR PROCESS (OTHER THAN THOSE DESCRIBED ELSEWHERE IN THIS
SECTION 8.1) INVOLVING (1) AN AMOUNT IN ANY INDIVIDUAL CASE IN EXCESS OF
$100,000 OR (2) AN AMOUNT IN THE AGGREGATE AT ANY TIME IN EXCESS OF $100,000 (IN
EITHER CASE TO THE EXTENT NOT ADEQUATELY COVERED BY INSURANCE IN AGENT'S SOLE
DISCRETION AS TO WHICH THE INSURANCE COMPANY HAS ACKNOWLEDGED COVERAGE) IS
ENTERED OR FILED AGAINST ONE OR MORE OF THE LOAN PARTIES OR ANY OF THEIR
RESPECTIVE ASSETS AND REMAINS UNDISCHARGED, UNVACATED, UNBONDED OR UNSTAYED FOR
A PERIOD OF THIRTY (30) DAYS OR IN ANY EVENT LATER THAN FIVE (5) BUSINESS DAYS
PRIOR TO THE DATE OF ANY PROPOSED SALE THEREUNDER; OR
75
(I)
DISSOLUTION.
ANY ORDER, JUDGMENT OR DECREE IS ENTERED AGAINST
ANY LOAN PARTY DECREEING THE DISSOLUTION OR SPLIT UP OF SUCH LOAN PARTY AND SUCH
ORDER REMAINS UNDISCHARGED OR UNSTAYED FOR A PERIOD IN EXCESS OF FIFTEEN (15)
DAYS; OR
(J)
SOLVENCY.
BORROWER OR LOAN PARTIES TAKEN AS A WHOLE CEASE TO BE
SOLVENT; ANY LOAN PARTY FAILS TO PAY ITS DEBTS AS THEY BECOME DUE OR ADMITS IN
WRITING ITS PRESENT OR PROSPECTIVE INABILITY TO PAY ITS DEBTS AS THEY BECOME
DUE; OR
(K)
INVALIDITY OF LOAN DOCUMENTS.
ANY OF THE LOAN DOCUMENTS FOR ANY
REASON, OTHER THAN A PARTIAL OR FULL RELEASE IN ACCORDANCE WITH THE TERMS
THEREOF, CEASES TO BE IN FULL FORCE AND EFFECT OR IS DECLARED TO BE NULL AND
VOID, OR ANY LOAN PARTY DENIES THAT IT HAS ANY FURTHER LIABILITY UNDER ANY LOAN
DOCUMENTS TO WHICH IT IS PARTY, OR GIVES NOTICE TO SUCH EFFECT; OR
(L)
CHANGE OF CONTROL.
A CHANGE OF CONTROL OCCURS;
(M)
SUBSTANTIAL COMPLETION.
(1) SUBSTANTIAL COMPLETION OF THE PROJECT
HAS NOT OCCURRED ON OR PRIOR TO JUNE 30, 2008 OR (2) AT ANY TIME IT IS NOT
POSSIBLE IN ACCORDANCE WITH THEN APPLICABLE LEGAL REQUIREMENTS, FOR BORROWER TO
OPEN A CARD ROOM OF AT LEAST FIFTY TABLES ON OR PRIOR TO JULY 1, 2008; OR
(N)
OPERATIONS.
(1) BORROWER FAILS TO KEEP A CARD ROOM OF AT LEAST
FIFTY TABLES OPERATING AT ALL TIMES AFTER JULY 1, 2008 (SUBJECT TO TEMPORARY
CLOSURES PURSUANT TO NORMAL OPERATING PROCEDURES), (2) ANY GAMING, RACING OR
RELATED LICENSE, AUTHORIZATION OR AGREEMENT OF BORROWER