ANY TIME DURING THE TERM OF THE LOAN.
BORROWER
SHALL NOTIFY LENDER PROMPTLY OF BORROWER'S ACTUAL KNOWLEDGE THAT THE
REPRESENTATIONS AND WARRANTIES IN SECTION 4.1(L) OF THIS LOAN AGREEMENT MAY NO
LONGER BE ACCURATE OR THAT ANY OTHER VIOLATION OF THE FOREGOING REQUIREMENTS OF
LAW HAS OCCURRED OR IS BEING INVESTIGATED BY GOVERNMENTAL AUTHORITIES.
IN
CONNECTION WITH SUCH AN EVENT, BORROWER SHALL COMPLY WITH ALL REQUIREMENTS OF
LAW AND DIRECTIVES OF GOVERNMENTAL AUTHORITIES AND, AT LENDER'S REQUEST, PROVIDE
TO LENDER COPIES OF ALL NOTICES, REPORTS AND OTHER COMMUNICATIONS EXCHANGED
WITH, OR RECEIVED FROM, GOVERNMENTAL AUTHORITIES RELATING TO SUCH EVENT.
BORROWER SHALL ALSO REIMBURSE LENDER FOR ANY EXPENSE INCURRED BY LENDER IN
EVALUATING THE EFFECT OF SUCH AN EVENT ON THE LOAN AND LENDER'S INTEREST IN THE
COLLATERAL FOR THE LOAN, IN OBTAINING ANY NECESSARY LICENSE FROM GOVERNMENTAL
AUTHORITIES AS MAY BE NECESSARY FOR LENDER TO ENFORCE ITS RIGHTS UNDER THE LOAN
DOCUMENTS, AND IN COMPLYING WITH ALL REQUIREMENTS OF LAW APPLICABLE TO LENDER AS
THE RESULT OF THE EXISTENCE OF SUCH AN EVENT AND FOR ANY PENALTIES OR FINES
IMPOSED UPON LENDER AS A RESULT THEREOF.
VI.
DEFAULTS
6.1
EVENTS OF DEFAULT.
ANY OF THE FOLLOWING
EVENTS SHALL CONSTITUTE AN "EVENT OF DEFAULT" UNDER THIS AGREEMENT:
(A)
BORROWER SHALL DEFAULT IN THE PAYMENT OF
PRINCIPAL DUE ACCORDING TO THE TERMS HEREOF OR OF THE NOTE.
(B)
BORROWER SHALL DEFAULT IN THE PAYMENT OF
INTEREST ON THE DISBURSEMENT OF THE LOAN AMOUNT MADE BY LENDER, OR IN THE
PAYMENT OF FEES OR OTHER AMOUNTS PAYABLE TO
21
LENDER, HEREUNDER, UNDER THE NOTE OR UNDER ANY OF THE OTHER LOAN DOCUMENTS, AND
SUCH DEFAULT IS NOT CURED WITHIN FIVE (5) DAYS AFTER RECEIPT OF WRITTEN NOTICE
FROM LENDER.
(C)
BORROWER SHALL FAIL TO PERFORM OR OBSERVE
ANY OBLIGATION OR COVENANT (OTHER THAN THOSE OBLIGATIONS AND COVENANTS DESCRIBED
IN SUBPARAGRAPHS (A) AND (B), ABOVE, OR OTHERWISE SET FORTH IN SUBPARAGRAPHS
(D) THROUGH (P), BELOW, OF THIS SECTION 6.1) UNDER THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT WITHIN THIRTY (30) DAYS AFTER RECEIPT OF WRITTEN NOTICE THAT SUCH
OBLIGATION WAS NOT PERFORMED; PROVIDED THAT, IF CURE CANNOT REASONABLY BE
EFFECTED WITHIN SUCH 30-DAY PERIOD, SUCH FAILURE SHALL NOT BE AN EVENT OF
DEFAULT HEREUNDER SO LONG AS BORROWER COMMENCES CURE WITHIN SUCH 30-DAY PERIOD,
AND THEREAFTER DILIGENTLY PROSECUTES SUCH CURE TO COMPLETION; AND PROVIDED
FURTHER, HOWEVER, THAT NOTWITHSTANDING THE 30-DAY CURE PERIOD OR EXTENDED CURE
PERIOD DESCRIBED ABOVE IN THIS SUBPARAGRAPH (C), IF A DIFFERENT NOTICE OR CURE
PERIOD IS SPECIFIED UNDER ANY LOAN DOCUMENT OR UNDER ANY PROVISION OF THE LOAN
DOCUMENTS AS TO ANY SUCH FAILURE OR BREACH, THE SPECIFIC LOAN DOCUMENT OR
PROVISION SHALL CONTROL, AND BORROWER SHALL HAVE NO MORE TIME TO CURE THE
FAILURE OR BREACH THAN IS ALLOWED UNDER THE SPECIFIC LOAN DOCUMENT OR PROVISION
AS TO SUCH FAILURE OR BREACH.
(D)
ANY REPRESENTATION OR WARRANTY MADE BY
BORROWER IN THIS AGREEMENT, IN ANY OF THE OTHER LOAN DOCUMENTS, OR IN ANY
CERTIFICATE OR DOCUMENT FURNISHED UNDER