60 DAYS, OR AN ORDER FOR RELIEF, ORDER,
JUDGMENT OR DECREE APPROVING THE PETITION IN ANY SUCH PROCEEDING IS ENTERED;
(II) OR THE PARENT, THE BORROWER OR ANY SUBSIDIARY THEREOF BY ANY ACT OR FAILURE
TO ACT INDICATES ITS CONSENT TO, APPROVAL OF OR ACQUIESCENCE IN ANY SUCH
PROCEEDING OR IN THE APPOINTMENT OF ANY CUSTODIAN, RECEIVER, LIQUIDATOR OR
TRUSTEE OF OR FOR IT OR ANY SUBSTANTIAL PART OF ITS PROPERTIES OR ASSETS, OR
SUFFERS ANY SUCH APPOINTMENT TO CONTINUE UNDISCHARGED OR UNSTAYED FOR A PERIOD
OF 60 DAYS; (III) OR THE PARENT, THE BORROWER OR ANY SUBSIDIARY THEREOF TAKES
ANY ACTION FOR THE PURPOSE OF EFFECTING ANY OF THE FOREGOING.
(H)
ONE OR MORE JUDGMENTS OR DECREES SHALL BE ENTERED AGAINST THE
PARENT, THE BORROWER OR ANY SUBSIDIARY THEREOF INVOLVING IN THE AGGREGATE A
LIABILITY (TO THE EXTENT NOT COVERED BY INSURANCE AS TO WHICH THE INSURER DOES
NOT DISPUTE COVERAGE THEREOF) OF $500,000 OR MORE AND ALL SUCH JUDGMENTS OR
DECREES SHALL NOT HAVE BEEN VACATED, DISCHARGED, SETTLED, SATISFIED OR PAID, OR
STAYED OR BONDED PENDING APPEAL, WITHIN 30 DAYS FROM THE ENTRY THEREOF.
(I)
ANY OF THE LOAN DOCUMENTS SHALL CEASE TO BE LEGAL, VALID AND
BINDING AGREEMENTS ENFORCEABLE AGAINST A LOAN PARTY EXECUTING THE SAME IN
ACCORDANCE WITH THE RESPECTIVE TERMS THEREOF OR SHALL IN ANY WAY BE TERMINATED
(EXCEPT IN ACCORDANCE WITH ITS TERMS) OR BECOME OR BE DECLARED INEFFECTIVE OR
INOPERATIVE OR SHALL IN ANY WAY BE CHALLENGED AND THEREBY DEPRIVE OR DENY THE
LENDERS AND THE ADMINISTRATIVE AGENT OF THE INTENDED BENEFITS THEREOF OR THEY
SHALL THEREBY CEASE SUBSTANTIALLY TO HAVE THE RIGHTS, TITLES, INTERESTS,
REMEDIES, POWERS OR PRIVILEGES INTENDED TO BE CREATED THEREBY.
(J)
ANY ATTACHMENT OR EXECUTION PROCESS IS ISSUED AGAINST 10% OR MORE
OF THE ASSETS OF THE PARENT, THE BORROWER OR ANY SUBSIDIARY THEREOF; OR ANY
MATERIAL UNINSURED DAMAGE TO, OR LOSS, THEFT OR DESTRUCTION OF, ANY OF THE
COLLATERAL SUBJECT TO THE SECURITY DOCUMENTS OCCURS WHICH WOULD REASONABLY BE
EXPECTED TO RESULT IN A MATERIAL ADVERSE EFFECT.
(K)
THE SUSPENSION BY THE PARENT, THE BORROWER OR ANY OTHER LOAN PARTY
OF ALL OR ANY SIGNIFICANT PART OF ITS BUSINESS OPERATIONS OR THE LOSS,
SUSPENSION, REVOCATION OR FAILURE OF THE PARENT, THE BORROWER OR ANY OTHER LOAN
PARTY TO RENEW ANY LICENSE OR PERMIT NOW HELD OR HEREAFTER ACQUIRED BY THE
PARENT, THE BORROWER OR ANY OTHER LOAN PARTY, WHICH LOSS, SUSPENSION, REVOCATION
OR FAILURE TO FILE WOULD REASONABLY BE EXPECTED TO HAVE A MATERIAL ADVERSE
EFFECT.
71
(L)
(A) (I) ANY EMPLOYEE PENSION PLAN IS TERMINATED WITHIN THE
MEANING OF TITLE IV OF ERISA, OR (II) A TRUSTEE IS APPOINTED BY THE APPROPRIATE
UNITED STATES DISTRICT COURT TO ADMINISTER ANY EMPLOYEE PENSION PLAN, OR (III)
PBGC INSTITUTES PROCEEDINGS TO TERMINATE ANY EMPLOYEE PENSION PLAN OR TO APPOINT
A TRUSTEE TO ADMINISTER ANY EMPLOYEE PENSION PLAN, OR (IV) ANY REPORTABLE EVENT
OCCURS WHICH THE REQUIRED LENDERS DETERMINE IN GOOD FAITH INDICATES A
SUBSTANTIAL LIKELIHOOD THAT AN EVENT DESCRIBED