LOAN PARTY SHALL BE JOINTLY AND SEVERALLY LIABLE FOR SUCH OBLIGATIONS AS
FULLY AS IF SUCH APPLICATION HAD NEVER BEEN MADE.
REFERENCES IN THIS AGREEMENT
TO AMOUNTS "IRREVOCABLY PAID" OR TO "IRREVOCABLE PAYMENT" REFER TO PAYMENTS THAT
CANNOT BE SET ASIDE, RECOVERED, RESCINDED OR REQUIRED TO BE RETURNED FOR ANY
REASON.
(H)
LOAN PARTIES' FINANCIAL CONDITION.
EACH LOAN PARTY IS FAMILIAR
WITH THE FINANCIAL CONDITION OF THE OTHER LOAN PARTIES, AND EACH LOAN PARTY HAS
EXECUTED AND DELIVERED THIS AGREEMENT BASED ON THAT LOAN PARTY'S OWN JUDGMENT
AND NOT IN RELIANCE UPON ANY STATEMENT OR REPRESENTATION OF AGENT OR ANY
LENDER.
NEITHER AGENT NOR ANY LENDER SHALL HAVE ANY OBLIGATION TO PROVIDE ANY
LOAN PARTY WITH ANY ADVICE WHATSOEVER OR TO INFORM ANY LOAN PARTY AT ANY TIME OF
AGENT'S OR SUCH LENDER'S ACTIONS, EVALUATIONS OR CONCLUSIONS ON THE FINANCIAL
CONDITION OR ANY OTHER MATTER CONCERNING THE LOAN PARTIES.
(I)
BANKRUPTCY OF THE LOAN PARTIES.
EACH LOAN PARTY EXPRESSLY AGREES
THAT, TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE LIABILITIES AND OBLIGATIONS
OF THAT LOAN PARTY UNDER THIS AGREEMENT SHALL NOT IN ANY WAY BE IMPAIRED OR
OTHERWISE AFFECTED BY THE INSTITUTION BY OR AGAINST ANY OTHER LOAN PARTY OR ANY
OTHER PERSON OF ANY BANKRUPTCY, REORGANIZATION, ARRANGEMENT, INSOLVENCY OR
LIQUIDATION PROCEEDINGS, OR ANY OTHER SIMILAR PROCEEDINGS FOR RELIEF UNDER ANY
BANKRUPTCY LAW OR SIMILAR LAW FOR THE RELIEF OF DEBTORS AND THAT ANY DISCHARGE
OF ANY OF THE OBLIGATIONS PURSUANT TO ANY SUCH BANKRUPTCY OR SIMILAR LAW OR
OTHER LAW SHALL NOT DIMINISH, DISCHARGE OR OTHERWISE AFFECT IN ANY WAY THE
OBLIGATIONS OF THAT LOAN PARTY UNDER THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT,
AND THAT UPON THE INSTITUTION OF ANY OF THE ABOVE ACTIONS, SUCH OBLIGATIONS
SHALL BE ENFORCEABLE AGAINST THAT LOAN PARTY.
(J)
LIMITATION; INSOLVENCY LAWS.
AS USED IN THIS SECTION 15.2(J):
(A) THE TERM "APPLICABLE INSOLVENCY LAWS" MEANS THE LAWS OF THE UNITED STATES OF
AMERICA OR OF ANY STATE, PROVINCE, NATION OR OTHER GOVERNMENTAL UNIT RELATING TO
BANKRUPTCY, REORGANIZATION, ARRANGEMENT, ADJUSTMENT OF DEBTS, RELIEF OF DEBTORS,
DISSOLUTION, INSOLVENCY, FRAUDULENT TRANSFERS OR CONVEYANCES OR OTHER SIMILAR
LAWS (INCLUDING, WITHOUT LIMITATION, 11 U. S. C. §547, §548, §550 AND OTHER
"AVOIDANCE" PROVISIONS OF TITLE 11 OF THE UNITED STATED CODE) AS APPLICABLE IN
ANY PROCEEDING IN WHICH THE VALIDITY AND/OR ENFORCEABILITY OF THIS AGREEMENT
AGAINST ANY LOAN PARTY, OR ANY SPECIFIED LIEN IS IN ISSUE; AND (B) "SPECIFIED
LIEN" MEANS ANY SECURITY INTEREST, MORTGAGE, LIEN OR ENCUMBRANCE GRANTED BY ANY
LOAN PARTY SECURING THE OBLIGATIONS, IN WHOLE OR IN PART.
NOTWITHSTANDING ANY
OTHER PROVISION OF THIS AGREEMENT, IF, IN ANY PROCEEDING, A COURT OF COMPETENT
JURISDICTION DETERMINES THAT WITH RESPECT TO ANY LOAN PARTY, THIS AGREEMENT OR
ANY OTHER LOAN DOCUMENT OR ANY SPECIFIED LIEN WOULD, BUT FOR THE OPERATION OF
THIS SECTION, BE SUBJECT TO AVOIDANCE AND/OR RECOVERY OR BE UNENFORCEABLE BY
REASON OF APPLICABLE INSOLVENCY LAWS, THIS AGREEMENT AND EACH SUCH SPECIFIED
LIEN SHALL BE VALID AND ENFORCEABLE AGAINST SUCH LOAN PARTY, ONLY TO THE