AT ANY TIME.
(G)
CHANGE IN NATURE OF BUSINESS.
MAKE ANY
MATERIAL CHANGE IN THE LINE OF BUSINESS OF THE BORROWER OR MEDACQUISITION, TAKEN
AS A WHOLE, AS CARRIED ON AT THE DATE HEREOF.
(H)
FIXED ASSETS.
EXPEND FOR FIXED ASSETS AN
AMOUNT AGGREGATING MORE THAN $2,000,000.00 IN ANY FISCAL YEAR FOR THE BORROWER
AND MEDACQUISITION COMBINED.
ARTICLE VI.
DEFAULT
SECTION 6.1.
EVENTS OF DEFAULT.
"EVENTS OF DEFAULT" IN THIS
AGREEMENT MEANS ANY OF THE FOLLOWING EVENTS:
(A)
FAILURE OF THE BORROWER TO PAY THE
PRINCIPAL OF ANY NOTE WHEN DUE OR, IF PAYABLE ON DEMAND, UPON DEMAND;
(B)
FAILURE OF THE BORROWER TO PAY ANY INTEREST
OR FEES REQUIRED TO BE PAID HEREUNDER OR UNDER ANY NOTE WHEN DUE;
(C)
ANY REPRESENTATION OR WARRANTY MADE BY, OR
ON BEHALF OF, ANY LOAN PARTY IN, OR PURSUANT TO, ANY LOAN DOCUMENT SHALL PROVE
TO HAVE BEEN INCORRECT IN ANY MATERIAL RESPECT WHEN MADE OR THE BORROWER OR
MEDACQUISITION SHALL DISPOSE OF ANY COLLATERAL DESCRIBED IN THE SECURITY
AGREEMENT IN VIOLATION OF THE SECURITY AGREEMENTS;
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(D)
DEFAULT IN PERFORMANCE OF ANY OTHER COVENANT
OR AGREEMENT OF ANY LOAN PARTY IN, OR PURSUANT TO, ANY LOAN DOCUMENT AND
CONTINUANCE OF SUCH DEFAULT OR BREACH FOR A PERIOD OF 30 DAYS AFTER WRITTEN
NOTICE THEREOF TO SUCH PERSON BY THE BANK;
(E)
ANY LOAN PARTY SHALL GENERALLY NOT PAY ITS
DEBTS AS SUCH DEBTS BECOME DUE, OR SHALL ADMIT IN WRITING ITS INABILITY TO PAY
ITS DEBTS GENERALLY, OR SHALL MAKE A GENERAL ASSIGNMENT FOR THE BENEFIT OF
CREDITORS; OR ANY PROCEEDING SHALL BE INSTITUTED BY OR AGAINST ANY LOAN PARTY
SEEKING TO ADJUDICATE IT A BANKRUPT OR INSOLVENT, OR SEEKING LIQUIDATION,
WINDING UP, REORGANIZATION, ARRANGEMENT, ADJUSTMENT, CUSTODIANSHIP, PROTECTION,
RELIEF, OR COMPOSITION OF IT OR ITS DEBTS UNDER ANY LAW RELATING TO BANKRUPTCY,
INSOLVENCY OR REORGANIZATION OR RELIEF OF DEBTORS, OR SEEKING THE ENTRY OF AN
ORDER FOR RELIEF, OR THE APPOINTMENT OF A RECEIVER, CUSTODIAN, TRUSTEE, OR OTHER
SIMILAR OFFICIAL FOR IT OR FOR ANY SUBSTANTIAL PART OF ITS PROPERTY; OR ANY LOAN
PARTY SHALL TAKE ANY CORPORATE ACTION TO AUTHORIZE ANY OF THE ACTIONS SET FORTH
ABOVE IN THIS SUBSECTION; AND IN THE CASE OF A PROCEEDING OF THE TYPE DESCRIBED
IN THIS PARAGRAPH COMMENCED AGAINST ANY LOAN PARTY, THAT PROCEEDING SHALL NOT BE
DISMISSED WITHIN 60 DAYS OR THAT LOAN PARTY SHALL CONSENT TO THAT PROCEEDING;
(F)
THE BORROWER OR MEDACQUISITION SHALL FAIL
TO PAY ANY OF ITS DEBTS THAT INDIVIDUALLY OR IN THE AGGREGATE TOTAL MORE THAN
$100,000.00 (BUT EXCLUDING DEBT EVIDENCED BY ANY NOTE) ANY INTEREST OR PREMIUM
THEREON, WHEN DUE (WHETHER BY SCHEDULED MATURITY, REQUIRED PREPAYMENT,
ACCELERATION, DEMAND OR OTHERWISE) AND SUCH FAILURE SHALL CONTINUE AFTER THE
APPLICABLE GRACE PERIOD, IF ANY, SPECIFIED IN THE AGREEMENT OR INSTRUMENT
RELATING TO SUCH DEBT; OR ANY OTHER DEFAULT UNDER ANY AGREEMENT OR INSTRUMENT
RELATING TO ANY SUCH DEBT, OR ANY OTHER EVENT, SHALL OCCUR AND SHALL CONTINUE
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AFTER THE APPLICABLE GRACE PERIOD, IF ANY, SPECIFIED