PLAN HAS BEEN
TERMINATED, (B) THE ADMINISTRATOR OR PLAN SPONSOR OF A MULTIEMPLOYER PLAN
INTENDS TO TERMINATE A MULTIEMPLOYER PLAN, OR (C) THE PBGC HAS INSTITUTED OR
SHALL INSTITUTE PROCEEDINGS UNDER SECTION 4042 OF ERISA TO TERMINATE A
MULTIEMPLOYER PLAN.
8.10
ADDITIONAL DOCUMENTS. EXECUTE AND DELIVER TO BRASCAN, UPON REQUEST,
SUCH DOCUMENTS AND AGREEMENTS AS BRASCAN MAY, FROM TIME TO TIME, REASONABLY
REQUEST IN WRITING TO CARRY OUT THE PURPOSES, TERMS OR CONDITIONS OF THIS
AGREEMENT.
IX.
EVENTS OF DEFAULT.
The occurrence of any one or more of the following events shall constitute an
"Event of Default":
26
9.1
NONPAYMENT. FAILURE BY BORROWER TO PAY ANY PRINCIPAL OR, SUBJECT
TO A THREE (3) DAY GRACE PERIOD,
INTEREST ON THE OBLIGATIONS WHEN DUE, WHETHER
AT MATURITY OR BY REASON OF ACCELERATION PURSUANT TO THE TERMS OF THIS AGREEMENT
OR BY NOTICE OF INTENTION TO PREPAY, OR BY REQUIRED PREPAYMENT OR FAILURE TO PAY
ANY OTHER LIABILITIES OR, SUBJECT TO A THREE (3) DAY GRACE PERIOD,
MAKE ANY
OTHER PAYMENT, FEE OR CHARGE PROVIDED FOR HEREIN WHEN DUE OR IN ANY OTHER
DOCUMENT IN ACCORDANCE WITH ITS TERMS.
9.2
BREACH OF REPRESENTATION. ANY REPRESENTATION OR WARRANTY MADE OR
DEEMED MADE BY BORROWER IN THIS AGREEMENT, ANY OTHER DOCUMENT OR ANY RELATED
AGREEMENT OR IN ANY CERTIFICATE, DOCUMENT OR FINANCIAL OR OTHER STATEMENT
FURNISHED AT ANY TIME IN CONNECTION HEREWITH OR THEREWITH SHALL PROVE TO HAVE
BEEN MISLEADING IN ANY MATERIAL RESPECT ON THE DATE WHEN MADE OR DEEMED TO HAVE
BEEN MADE;
9.3
FINANCIAL INFORMATION. FAILURE BY BORROWER TO (I) FURNISH
FINANCIAL INFORMATION WHEN DUE OR WHEN REQUESTED IN ACCORDANCE HEREWITH, OR (II)
PERMIT THE INSPECTION OF ITS BOOKS OR RECORDS TO THE EXTENT REQUIRED HEREUNDER;
9.4
JUDICIAL ACTIONS. EXCEPT WITH RESPECT TO PERMITTED ENCUMBRANCES,
THE ISSUANCE OF A NOTICE OF LIEN, LEVY, ASSESSMENT, INJUNCTION OR ATTACHMENT
AGAINST A MATERIAL PORTION OF BORROWER'S PROPERTY WHICH IS NOT STAYED OR LIFTED
WITHIN THIRTY (30) DAYS;
9.5
NONCOMPLIANCE. FAILURE OR NEGLECT OF BORROWER TO (I) EXCEPT AS
PROVIDED IN (II) BELOW, PERFORM, KEEP OR OBSERVE ANY TERM, PROVISION, CONDITION,
COVENANT HEREIN CONTAINED, OR CONTAINED IN THIS AGREEMENT OR ANY OTHER DOCUMENT
(II) PERFORM, KEEP OR OBSERVE ANY TERM, PROVISION, CONDITION OR COVENANT,
CONTAINED IN SECTIONS 5.3 OR 8.2 HEREOF, IN EACH CASE, WHICH FAILURE OR NEGLECT
IS NOT CURED WITHIN TEN (10) DAYS FROM THE EARLIER OF (X) BORROWER'S KNOWLEDGE
OF SUCH FAILURE OR NEGLECT; AND (Y) RECEIPT BY BORROWER OF WRITTEN NOTICE
THEREOF FROM BRASCAN; PROVIDED, HOWEVER, THAT BORROWER'S FAILURE TO COMPLY WITH
SECTION 5.4(B) SHALL NOT CONSTITUTE AN EVENT OF DEFAULT UNLESS SUCH FAILURE
SHALL HAVE OCCURRED FOR TWO CONSECUTIVE FISCAL QUARTERS OF BORROWER.
9.6
JUDGMENTS. ANY JUDGMENT OR JUDGMENTS ARE RENDERED OR JUDGMENT
LIENS FILED AGAINST BORROWER, SINGLY, OR IN AN AGGREGATE AMOUNT, IN EXCESS OF
$500,000, EXCEPT TO THE EXTENT THAT EITHER (I) WITHIN THIRTY (30) DAYS OF SUCH
RENDERING OR FILING, EACH SUCH JUDGMENT IS EITHER SATISFIED, STAYED, BONDED OR
DISCHARGED OF RECORD OR (II) BORROWER IS CONTESTING