BORROWER
NOR BY THE OCCUPATION OF THE PREMISES WHEREIN SUCH COLLATERAL IS LOCATED FOR
PURPOSES MORE HAZARDOUS THAN ARE PERMITTED BY SAID POLICY.
BORROWER WILL
MAINTAIN, WITH FINANCIALLY SOUND AND REPUTABLE INSURERS, INSURANCE WITH RESPECT
TO ITS PROPERTIES AND BUSINESS AGAINST SUCH CASUALTIES AND CONTINGENCIES OF SUCH
TYPES (WHICH MAY INCLUDE, WITHOUT LIMITATION, PUBLIC AND PRODUCT LIABILITY,
LARCENY, EMBEZZLEMENT, OR OTHER CRIMINAL MISAPPROPRIATION INSURANCE) AND IN SUCH
AMOUNTS AS MAY FROM TIME TO TIME BE REQUIRED BY LENDER.
14.
BORROWER'S LOAN ACCOUNT.
LENDER MAY CHARGE TO BORROWER'S LOAN
ACCOUNT AT ANY TIME THE AMOUNTS OF ALL OBLIGATIONS (AND INTEREST, IF ANY,
THEREON) OWING BY BORROWER TO LENDER, INCLUDING (WITHOUT LIMITATION) LOANS,
ADVANCES, THE TERM LOANS, THE LETTERS OF CREDIT OBLIGATIONS, DEBTS, LIABILITIES,
OBLIGATIONS ACQUIRED BY PURCHASE, ASSIGNMENT OR PARTICIPATION AND ALL OTHER
OBLIGATIONS, WHENEVER ARISING, WHETHER ABSOLUTE OR CONTINGENT AND WHETHER DUE OR
TO BECOME DUE; ALSO THE AMOUNT OF ALL COSTS AND EXPENSES AND ALL ATTORNEYS' FEES
AND LEGAL EXPENSES INCURRED IN CONNECTION WITH EFFORTS MADE TO ENFORCE PAYMENT
OF SUCH OBLIGATIONS, OR TO OBTAIN PAYMENT OF ANY RECEIVABLES, OR THE FORECLOSURE
OF ANY COLLATERAL OR IN THE PROSECUTION OR DEFENSE OF ANY ACTIONS OR PROCEEDINGS
RELATING IN ANY WAY TO THIS AGREEMENT WHETHER OR NOT SUIT IS COMMENCED,
INCLUDING REASONABLE ATTORNEYS' FEES AND LEGAL EXPENSES INCURRED IN CONNECTION
WITH ANY APPEAL OF A LOWER COURT'S ORDER OR JUDGMENT; AND ALSO THE AMOUNTS OF
ALL UNPAID TAXES AND THE LIKE, OWING BY BORROWER TO ANY GOVERNMENTAL AUTHORITY
OR REQUIRED TO BE DEPOSITED BY BORROWER, WHICH LENDER PAYS OR DEPOSITS FOR
BORROWER'S ACCOUNT. ALL SUMS AT ANY TIME STANDING TO BORROWER'S CREDIT ON
LENDER'S BOOKS AND ALL OF BORROWER'S PROPERTY AT ANY TIME IN LENDER'S POSSESSION
OR UPON OR IN WHICH LENDER HAS A SECURITY INTEREST, MAY BE HELD BY LENDER AS
SECURITY FOR ALL OBLIGATIONS WHICH ARE CHARGEABLE TO BORROWER'S LOAN ACCOUNT.
SUBJECT TO THE FOREGOING, LENDER, AT BORROWER'S REQUEST, WILL REMIT TO BORROWER
ANY NET BALANCE STANDING TO BORROWER'S CREDIT ON LENDER'S BOOKS.
LENDER WILL
ACCOUNT TO BORROWER MONTHLY AND EACH MONTHLY ACCOUNTING WILL BE FULLY BINDING ON
BORROWER, UNLESS, WITHIN SIXTY (60) DAYS THEREAFTER, BORROWER GIVES LENDER
SPECIFIC WRITTEN NOTICE OF EXCEPTIONS.
ALL DEBIT BALANCES IN BORROWER'S LOAN
ACCOUNT WILL BEAR INTEREST AS PROVIDED IN PARAGRAPH 5 OF THIS AGREEMENT.
15.
PARTICIPATIONS.
IF ANY PERSON SHALL ACQUIRE A PARTICIPATION IN ANY
LOAN OR THE LETTER OF CREDIT OBLIGATIONS, BORROWER HEREBY GRANTS TO ANY SUCH
PERSON HOLDING A PARTICIPATION, AND SUCH PERSON SHALL HAVE AND IS HEREBY GIVEN A
CONTINUING SECURITY INTEREST IN ANY MONEY, SECURITIES AND OTHER PROPERTY OF
BORROWER IN THE CUSTODY OR POSSESSION OF SUCH PARTICIPANT, INCLUDING THE RIGHT
OF SET-OFF AS FULLY AS IF SUCH PARTICIPANT HAD LENT DIRECTLY TO BORROWER THE
AMOUNT OF SUCH PARTICIPATION.
16
16.
GENERAL REPRESENTATIONS AND WARRANTIES.
TO INDUCE LENDER TO MAKE
ADVANCES AND THE TERM LOANS HEREUNDER, BORROWER MAKES THE FOLLOWING
REPRESENTATIONS AND WARRANTIES, ALL OF WHICH SHALL SURVIVE THE OCCURRENCE OF THE
CLOSING DATE, THE MAKING