IN ARTICLE 7 OF THIS
AGREEMENT, OR FAILS OR NEGLECTS TO PERFORM, KEEP, OR OBSERVE ANY OTHER MATERIAL
TERM, PROVISION, CONDITION, COVENANT, OR AGREEMENT CONTAINED IN THIS AGREEMENT,
IN ANY OF THE LOAN DOCUMENTS, OR IN ANY OTHER PRESENT OR FUTURE AGREEMENT
BETWEEN BORROWER AND BANK AND AS TO ANY SUCH DEFAULT UNDER SUCH OTHER TERM,
PROVISION, CONDITION, COVENANT OR AGREEMENT THAT CAN BE CURED, HAS FAILED TO
CURE SUCH DEFAULT WITHIN TWENTY (20) DAYS AFTER BORROWER RECEIVES NOTICE THEREOF
OR ANY OFFICER OF BORROWER BECOMES AWARE THEREOF; PROVIDED, HOWEVER, THAT IF THE
DEFAULT CANNOT BY ITS NATURE BE CURED WITHIN THE TWENTY (20) DAY PERIOD OR
CANNOT AFTER DILIGENT ATTEMPTS BY BORROWER BE CURED WITHIN SUCH TWENTY (20) DAY
PERIOD, AND SUCH DEFAULT IS LIKELY TO BE CURED WITHIN A REASONABLE TIME, THEN
BORROWER SHALL HAVE AN ADDITIONAL REASONABLE PERIOD (WHICH SHALL NOT IN ANY CASE
EXCEED FORTY FIVE (45) DAYS) TO ATTEMPT TO CURE SUCH DEFAULT, AND WITHIN SUCH
REASONABLE TIME PERIOD THE FAILURE TO
15
HAVE CURED SUCH DEFAULT SHALL NOT BE DEEMED AN EVENT OF DEFAULT (PROVIDED THAT
NO CREDIT EXTENSIONS WILL BE REQUIRED TO BE MADE DURING SUCH CURE PERIOD);
8.3
MATERIAL ADVERSE EFFECT.
IF THERE OCCURS ANY CIRCUMSTANCE OR
CIRCUMSTANCES THAT COULD HAVE A MATERIAL ADVERSE EFFECT;
8.4
ATTACHMENT.
IF ANY PORTION OF BORROWER'S ASSETS IS ATTACHED,
SEIZED, SUBJECTED TO A WRIT OR DISTRESS WARRANT, OR IS LEVIED UPON, OR COMES
INTO THE POSSESSION OF ANY TRUSTEE, RECEIVER OR PERSON ACTING IN A SIMILAR
CAPACITY AND SUCH ATTACHMENT, SEIZURE, WRIT OR DISTRESS WARRANT OR LEVY HAS NOT
BEEN REMOVED, DISCHARGED OR RESCINDED WITHIN THIRTY (30) DAYS, OR IF BORROWER IS
ENJOINED, RESTRAINED, OR IN ANY WAY PREVENTED BY COURT ORDER FROM CONTINUING TO
CONDUCT ALL OR ANY MATERIAL PART OF ITS BUSINESS AFFAIRS, OR IF A JUDGMENT OR
OTHER CLAIM BECOMES A LIEN OR ENCUMBRANCE UPON ANY MATERIAL PORTION OF
BORROWER'S ASSETS, OR IF A NOTICE OF LIEN, LEVY, OR ASSESSMENT IS FILED OF
RECORD WITH RESPECT TO ANY OF BORROWER'S ASSETS BY THE UNITED STATES GOVERNMENT,
OR ANY DEPARTMENT, AGENCY, OR INSTRUMENTALITY THEREOF, OR BY ANY STATE, COUNTY,
MUNICIPAL, OR GOVERNMENTAL AGENCY, AND THE SAME IS NOT PAID WITHIN TEN (10) DAYS
AFTER BORROWER RECEIVES NOTICE THEREOF, PROVIDED THAT NONE OF THE FOREGOING
SHALL CONSTITUTE AN EVENT OF DEFAULT WHERE SUCH ACTION OR EVENT IS STAYED OR AN
ADEQUATE BOND HAS BEEN POSTED PENDING A GOOD FAITH CONTEST BY BORROWER (PROVIDED
THAT NO CREDIT EXTENSIONS WILL BE REQUIRED TO BE MADE DURING SUCH CURE PERIOD);
8.5
INSOLVENCY.
IF BORROWER BECOMES INSOLVENT, OR IF AN INSOLVENCY
PROCEEDING IS COMMENCED BY BORROWER, OR IF AN INSOLVENCY PROCEEDING IS COMMENCED
AGAINST BORROWER AND IS NOT DISMISSED OR STAYED WITHIN FORTY FIVE (45) DAYS
(PROVIDED THAT NO CREDIT EXTENSIONS WILL BE MADE PRIOR TO THE DISMISSAL OF SUCH
INSOLVENCY PROCEEDING);
8.6
OTHER AGREEMENTS.
IF THERE IS A DEFAULT OR OTHER FAILURE TO
PERFORM IN ANY AGREEMENT TO WHICH BORROWER IS A PARTY OR BY WHICH IT