DATE
WHEN DUE, (II) ANY PAYMENT OR DEPOSIT REQUIRED PURSUANT TO SECTIONS 2.4, 2.7,
2.16, 2.18 AND 3.6 HEREOF OR (III) ANY INTEREST OR ADDITIONAL INTEREST.
(B)
THE FAILURE OF BORROWER (I) TO PAY WITHIN FIVE (5) DAYS AFTER SAME IS DUE
ANY PAYMENT ON ACCOUNT OF ANY FEES WHEN DUE UNDER THE LOAN FEE LETTER, OR
(II) TO PAY WHEN DUE ANY OTHER MONETARY OBLIGATIONS, EXCLUDING THOSE REFERRED TO
IN CLAUSE (A) OF THIS SECTION 9.1 ON OR BEFORE THE DUE DATE THEREFOR AND SUCH
FAILURE DESCRIBED IN THIS SUBCLAUSE (II) CONTINUES FOR FIVE (5) DAYS AFTER
NOTICE FROM AGENT OF THE NON-PAYMENT THEREOF;
(C)
BORROWER SHALL FAIL IN THE DUE PERFORMANCE OR OBSERVANCE OF ANY COVENANT,
AGREEMENT OR TERM BINDING UPON BORROWER CONTAINED IN THIS LOAN AGREEMENT, OTHER
THAN THOSE COVENANTS, AGREEMENTS OR TERMS WHICH BORROWER'S FAILURE TO PERFORM
WOULD CONSTITUTE ANOTHER EVENT OF DEFAULT REFERRED TO IN THIS SECTION 9.1, AND
SUCH FAILURE SHALL CONTINUE UNREMEDIED FOR MORE THAN THIRTY (30) DAYS AFTER
NOTICE THEREOF SHALL HAVE BEEN GIVEN TO BORROWER BY AGENT; PROVIDED, HOWEVER,
THAT IF SUCH FAILURE IS OF A NATURE SUCH THAT IT CANNOT BE CURED BY THE PAYMENT
OF MONEY AND IF SUCH FAILURE REQUIRES WORK TO BE PERFORMED, ACTS TO BE DONE OR
CONDITIONS TO BE REMOVED WHICH CANNOT BY THEIR NATURE, WITH DUE DILIGENCE, BE
PERFORMED, DONE OR REMOVED, AS THE CASE MAY BE, WITHIN SUCH THIRTY (30) DAY
PERIOD AND BORROWER SHALL HAVE COMMENCED TO CURE SUCH FAILURE WITHIN SUCH THIRTY
(30) DAY PERIOD, SUCH PERIOD SHALL BE DEEMED EXTENDED FOR SO LONG AS SHALL BE
REQUIRED BY BORROWER IN THE EXERCISE OF DUE DILIGENCE TO CURE SUCH FAILURE, BUT
IN NO EVENT SHALL SUCH THIRTY (30) DAY PERIOD BE SO EXTENDED TO BE A PERIOD IN
EXCESS OF ONE HUNDRED AND FIVE (105) DAYS;
(D)
ANY "EVENT OF DEFAULT" OR ANY OTHER DEFAULT SHALL OCCUR, AND SHALL
CONTINUE BEYOND THE APPLICABLE GRACE PERIOD, IF ANY, PROVIDED FOR THEREIN, UNDER
ANY OF THE LOAN DOCUMENTS (OTHER THAN THIS LOAN AGREEMENT, SUCH A DEFAULT BEING
THE SUBJECT OF OTHER PROVISIONS OF THIS SECTION 9.1), INCLUDING AN "EVENT OF
DEFAULT" UNDER ANY MORTGAGE;
(E)
ANY MATERIAL WARRANTY, REPRESENTATION OR CERTIFICATION MADE BY OR ON
BEHALF OF BORROWER OR GUARANTOR IN OR PURSUANT TO THIS LOAN AGREEMENT OR ANY
OTHER LOAN DOCUMENT OR ANY DOCUMENT, INSTRUMENT OR CERTIFICATE HERETOFORE OR
HEREAFTER EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THEREWITH SHALL PROVE
TO HAVE BEEN INCORRECT OR MISLEADING IN ANY MATERIAL RESPECT WHEN MADE OR DEEMED
TO HAVE BEEN MADE; PROVIDED, HOWEVER, THAT AS TO ANY SUCH FALSE OR MISLEADING
REPRESENTATION, WARRANTY, ACKNOWLEDGEMENT OR STATEMENT WHICH WAS UNINTENTIONALLY
SUBMITTED TO LENDER AND WHICH CAN BE MADE TRUE AND CORRECT BY ACTION OF
BORROWER, BORROWER SHALL HAVE A PERIOD OF
94
THIRTY (30) DAYS FOLLOWING WRITTEN NOTICE THEREOF TO BORROWER TO UNDERTAKE AND
COMPLETE ALL ACTION NECESSARY TO MAKE SUCH REPRESENTATION, WARRANTY,
ACKNOWLEDGEMENT OR STATEMENT TRUE AND CORRECT IN ALL MATERIAL RESPECTS;
(F)
[INTENTIONALLY