REASONABLY BE EXPECTED TO HAVE, INDIVIDUALLY OR IN THE AGGREGATE, A MATERIAL
ADVERSE EFFECT AND, IN EITHER CASE, (A) ENFORCEMENT PROCEEDINGS ARE COMMENCED BY
ANY CREDITOR UPON SUCH JUDGMENT OR ORDER, OR (B) WITHIN THIRTY (30) DAYS OF THE
RENDERING OF SUCH JUDGMENT, SUCH JUDGMENT IS NOT VACATED, DISCHARGED, SATISFIED
OR STAYED (BY REASON OF A PENDING APPEAL OR OTHERWISE); OR
105
(I)
ERISA.
(I) AN ERISA EVENT OCCURS WHICH HAS RESULTED OR COULD
REASONABLY BE EXPECTED TO RESULT IN LIABILITY OF ANY LOAN PARTY UNDER TITLE IV
OF ERISA TO THE PENSION PLAN, MULTIEMPLOYER PLAN OR THE PBGC IN AN AGGREGATE
AMOUNT IN EXCESS OF $500,000, OR (II) ANY LOAN PARTY OR ANY ERISA AFFILIATE
FAILS TO PAY WHEN DUE, AFTER THE EXPIRATION OF ANY APPLICABLE GRACE PERIOD, ANY
INSTALLMENT PAYMENT WITH RESPECT TO ITS WITHDRAWAL LIABILITY UNDER SECTION 4201
OF ERISA UNDER A MULTIEMPLOYER PLAN IN AN AGGREGATE AMOUNT IN EXCESS OF
$500,000; OR
(J)
INVALIDITY OF LOAN DOCUMENTS.
ANY LOAN DOCUMENT, AT ANY TIME AFTER
ITS EXECUTION AND DELIVERY AND FOR ANY REASON OTHER THAN AS EXPRESSLY PERMITTED
HEREUNDER OR SATISFACTION IN FULL OF ALL THE OBLIGATIONS, CEASES TO BE IN FULL
FORCE AND EFFECT OR CEASES TO GIVE THE ADMINISTRATIVE AGENT, FOR THE BENEFIT OF
THE LENDERS, ANY MATERIAL PART OF THE LIENS PURPORTED TO BE CREATED THEREBY; OR
ANY LOAN PARTY OR ANY OTHER PERSON CONTESTS IN ANY MANNER THE VALIDITY OR
ENFORCEABILITY OF ANY LOAN DOCUMENT; OR ANY LOAN PARTY DENIES THAT IT HAS ANY OR
FURTHER LIABILITY OR OBLIGATION UNDER ANY LOAN DOCUMENT, OR PURPORTS TO REVOKE,
TERMINATE OR RESCIND ANY LOAN DOCUMENT; OR
(K)
LICENSES.
ONE OR MORE OF THE AUTHORIZATIONS, LICENSES OR PERMITS
NECESSARY FOR ANY LOAN PARTY'S ABILITY TO CONTINUE TO ENGAGE IN THE
TELECOMMUNICATIONS BUSINESS OR OPERATE ITS FACILITIES IS CANCELLED OR REVOKED,
OR A LOAN PARTY, OR GRANTOR OF ANY SUCH MATERIAL AUTHORIZATION, LICENSE OR
PERMIT FAILS TO TIMELY RENEW SUCH AUTHORIZATION, LICENSE OR PERMIT PRIOR TO THE
EXPIRATION THEREOF AND SUCH REVOCATION COULD BE REASONABLY EXPECTED TO HAVE A
MATERIAL ADVERSE EFFECT; OR
(L)
CHANGE OF CONTROL.
THERE OCCURS ANY CHANGE OF CONTROL; OR
(M)
BLOCKED ACCOUNT.
THERE SHALL OCCUR ANY RESCISSION, REVOCATION OR
MODIFICATION OF ANY INSTRUCTION OR AGREEMENT REGARDING ANY BLOCKED ACCOUNT OR
THE BANK ACCOUNTS RELATING THERETO, OR ANY SUCH INSTRUCTION OR AGREEMENT IS
AMENDED OR TERMINATED WITHOUT THE WRITTEN CONSENT OF THE ADMINISTRATIVE AGENT,
AND IN EACH SUCH CASE, ANY AMOUNTS REMAIN ON DEPOSIT IN SUCH BLOCKED ACCOUNT OR
RELATED BANK ACCOUNTS MORE THAN FIVE (5) BUSINESS DAYS FOLLOWING SUCH EVENT; OR
(N)
GOVERNMENTAL APPROVALS.
A STATE OR FEDERAL REGULATORY AGENCY SHALL
HAVE REVOKED ANY GOVERNMENTAL APPROVALS TO THE EXTENT THAT SUCH REVOCATION COULD
REASONABLY BE EXPECTED TO HAVE A MATERIAL ADVERSE EFFECT, REGARDLESS OF WHETHER
SUCH GOVERNMENTAL APPROVAL WAS HELD BY OR ORIGINALLY ISSUED FOR THE BENEFIT OF A
LOAN PARTY.
106
SECTION 9.02
REMEDIES UPON EVENT OF DEFAULT.
IF ANY EVENT OF
DEFAULT OCCURS AND IS CONTINUING, THE ADMINISTRATIVE