WHICH BORROWER OR ANY GUARANTOR IS A PARTY WITH A THIRD PARTY OR
PARTIES, (A) ANY DEFAULT RESULTING IN A RIGHT BY SUCH THIRD PARTY OR PARTIES,
WHETHER OR NOT
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EXERCISED, TO ACCELERATE THE MATURITY OF ANY INDEBTEDNESS IN AN AMOUNT
INDIVIDUALLY OR IN THE AGGREGATE IN EXCESS OF FIFTY THOUSAND DOLLARS ($50,000);
OR (B) ANY DEFAULT BY BORROWER OR GUARANTOR, THE RESULT OF WHICH COULD HAVE A
MATERIAL ADVERSE EFFECT ON BORROWER'S OR ANY GUARANTOR'S BUSINESS;
8.7
JUDGMENTS.
ONE OR MORE FINAL JUDGMENTS,
ORDERS, OR DECREES FOR THE PAYMENT OF MONEY IN AN AMOUNT, INDIVIDUALLY OR IN THE
AGGREGATE, OF AT LEAST FIFTY THOUSAND DOLLARS ($50,000) (NOT COVERED BY
INDEPENDENT THIRD-PARTY INSURANCE AS TO WHICH LIABILITY HAS BEEN ACCEPTED BY
SUCH INSURANCE CARRIER) SHALL BE RENDERED AGAINST BORROWER AND THE SAME ARE NOT,
WITHIN TEN (10) DAYS AFTER THE ENTRY THEREOF, DISCHARGED OR EXECUTION THEREOF
STAYED OR BONDED PENDING APPEAL, OR SUCH JUDGMENTS ARE NOT DISCHARGED PRIOR TO
THE EXPIRATION OF ANY SUCH STAY (PROVIDED THAT NO CREDIT EXTENSIONS WILL BE MADE
PRIOR TO THE DISCHARGE, STAY, OR BONDING OF SUCH JUDGMENT, ORDER, OR DECREE);
8.8
MISREPRESENTATIONS.
BORROWER OR ANY PERSON
ACTING FOR BORROWER MAKES ANY REPRESENTATION, WARRANTY, OR OTHER STATEMENT NOW
OR LATER IN THIS AGREEMENT, ANY LOAN DOCUMENT OR IN ANY WRITING DELIVERED TO
BANK OR TO INDUCE BANK TO ENTER THIS AGREEMENT OR ANY LOAN DOCUMENT, AND SUCH
REPRESENTATION, WARRANTY, OR OTHER STATEMENT IS INCORRECT IN ANY MATERIAL
RESPECT WHEN MADE;
8.9
SUBORDINATED DEBT OR LIEN.
ANY DOCUMENT,
INSTRUMENT, OR AGREEMENT EVIDENCING ANY SUBORDINATED DEBT SHALL FOR ANY REASON
BE REVOKED OR INVALIDATED OR OTHERWISE CEASE TO BE IN FULL FORCE AND EFFECT; ANY
PERSON SHALL BE IN BREACH THEREOF OR CONTEST IN ANY MANNER THE VALIDITY OR
ENFORCEABILITY THEREOF OR DENY THAT IT HAS ANY FURTHER LIABILITY OR OBLIGATION
THEREUNDER; A DEFAULT OR BREACH OCCURS UNDER ANY AGREEMENT BETWEEN BORROWER AND
ANY CREDITOR OF BORROWER THAT SIGNED A SUBORDINATION, INTERCREDITOR, OR OTHER
SIMILAR AGREEMENT WITH BANK, OR ANY CREDITOR THAT HAS SIGNED SUCH AN AGREEMENT
WITH BANK BREACHES ANY TERMS OF SUCH AGREEMENT; OR THE OBLIGATIONS SHALL FOR ANY
REASON BE SUBORDINATED OR SHALL NOT HAVE THE PRIORITY CONTEMPLATED BY THIS
AGREEMENT OR ANY SUCH SUBORDINATION, INTERCREDITOR, OR OTHER SIMILAR AGREEMENT;
8.10
GUARANTY.
(A) ANY GUARANTY OF ANY OBLIGATIONS
TERMINATES OR CEASES FOR ANY REASON TO BE IN FULL FORCE AND EFFECT; (B) ANY
GUARANTOR DOES NOT PERFORM ANY OBLIGATION OR COVENANT UNDER ANY GUARANTY OF THE
OBLIGATIONS; (C) ANY CIRCUMSTANCE DESCRIBED IN SECTIONS 8.4, 8.5, 8.7, OR 8.8.
OCCURS WITH RESPECT TO ANY GUARANTOR, OR (D) THE DEATH, LIQUIDATION, WINDING UP,
OR TERMINATION OF EXISTENCE OF ANY GUARANTOR; OR (E) (I) A MATERIAL IMPAIRMENT
IN THE PERFECTION OR PRIORITY OF BANK'S LIEN IN THE COLLATERAL PROVIDED BY
GUARANTOR OR IN THE VALUE OF SUCH COLLATERAL OR (II) A MATERIAL ADVERSE CHANGE
IN THE GENERAL AFFAIRS, MANAGEMENT, RESULTS OF OPERATION, CONDITION (FINANCIAL
OR OTHERWISE) OR THE PROSPECT OF REPAYMENT OF THE OBLIGATIONS OCCURS