TO BANKRUPTCY, REORGANIZATION OR OTHER RELIEF FOR DEBTORS IS FILED OR
COMMENCED AGAINST BORROWER, ANY SUBSIDIARY OR GUARANTOR, OR AN ORDER FOR RELIEF
IS ENTERED AGAINST IT BY ANY COURT OF COMPETENT JURISDICTION UNDER THE
BANKRUPTCY CODE OR ANY OTHER APPLICABLE STATE OR FEDERAL LAW RELATING TO
BANKRUPTCY, REORGANIZATION OR OTHER RELIEF FOR DEBTORS.
(K)
CHANGE IN OWNERSHIP. ANY CHANGE IN THE OWNERSHIP OF BORROWER, ANY
GENERAL PARTNER OF BORROWER OR ANY GUARANTOR WHICH THE TRADE BANK DETERMINES, IN
ITS SOLE DISCRETION, MAY ADVERSELY AFFECT THE CREDITWORTHINESS OF BORROWER OR
CREDIT SUPPORT FOR THE OBLIGATIONS.
6.2
REMEDIES. UPON THE OCCURRENCE OF ANY EVENT OF DEFAULT, OR AT ANY TIME
THEREAFTER, TRADE BANK, AT ITS OPTION, AND WITHOUT NOTICE OR DEMAND OF ANY KIND
(ALL OF WHICH ARE HEREBY EXPRESSLY WAIVED BY BORROWER), MAY DO ANY ONE OR MORE
OF THE FOLLOWING: (A) TERMINATE TRADE BANK'S OBLIGATION TO MAKE CREDIT
EXTENSIONS OR TO MAKE AVAILABLE TO BORROWER THE FACILITY OR OTHER FINANCIAL
ACCOMMODATIONS; (B) ACCELERATE AND DECLARE ALL OR ANY PART OF THE OBLIGATIONS TO
BE IMMEDIATELY DUE, PAYABLE, AND PERFORMABLE, NOTWITHSTANDING ANY DEFERRED OR
INSTALLMENT PAYMENTS ALLOWED BY ANY INSTRUMENT EVIDENCING OR RELATING TO ANY
CREDIT EXTENSION; AND/OR (C) EXERCISE ALL ITS RIGHTS, POWERS AND REMEDIES
AVAILABLE UNDER THE LOAN DOCUMENTS, OR ACCORDED BY LAW, INCLUDING, BUT NOT
LIMITED TO, THE RIGHT TO RESORT TO ANY OR ALL COLLATERAL OR OTHER SECURITY FOR
ANY OF THE OBLIGATIONS AND TO EXERCISE ANY OR ALL OF THE RIGHTS OF A BENEFICIARY
OR SECURED PARTY PURSUANT TO APPLICABLE LAW. NOTWITHSTANDING THE PROVISIONS IN
THE FOREGOING SENTENCE, IF ANY EVENT OF DEFAULT SET OUT IN SUBSECTIONS (I) AND
(J) OF SECTION 6.1 ABOVE SHALL OCCUR, THEN ALL THE REMEDIES SPECIFIED IN THE
PRECEDING SENTENCE SHALL AUTOMATICALLY TAKE EFFECT WITHOUT NOTICE OR DEMAND OF
ANY KIND (ALL OF WHICH ARE HEREBY EXPRESSLY WAIVED BY BORROWER) WITH RESPECT TO
ANY AND ALL OBLIGATIONS. ALL RIGHTS, POWERS AND REMEDIES OF TRADE BANK MAY BE
EXERCISED AT ANY TIME BY TRADE BANK AND FROM TIME TO TIME AFTER THE OCCURRENCE
OF AN EVENT OF DEFAULT, ARE CUMULATIVE AND NOT EXCLUSIVE, AND SHALL BE IN
ADDITION TO ANY OTHER RIGHTS, POWERS OR REMEDIES PROVIDED BY LAW OR EQUITY.
VII.
GENERAL PROVISIONS
7.1
NOTICES. ALL NOTICES TO BE GIVEN UNDER THIS AGREEMENT SHALL BE IN WRITING
AND SHALL BE GIVEN PERSONALLY OR BY REGULAR FIRST-CLASS MAIL, BY CERTIFIED MAIL
RETURN RECEIPT REQUESTED, BY A PRIVATE DELIVERY SERVICE WHICH OBTAINS A SIGNED
RECEIPT, OR BY FACSIMILE TRANSMISSION ADDRESSED TO TRADE BANK OR BORROWER AT THE
ADDRESS INDICATED AFTER THEIR SIGNATURE TO THIS AGREEMENT, OR AT ANY OTHER
ADDRESS DESIGNATED IN WRITING BY ONE PARTY TO THE OTHER PARTY. TRADE BANK IS
HEREBY AUTHORIZED BY BORROWER TO ACT ON SUCH INSTRUCTIONS OR NOTICES SENT BY
FACSIMILE TRANSMISSION OR TELECOMMUNICATIONS DEVICE WHICH TRADE BANK BELIEVES
COME FROM BORROWER. ALL NOTICES SHALL BE DEEMED TO HAVE BEEN GIVEN UPON
DELIVERY, IN THE CASE OF NOTICES PERSONALLY DELIVERED OR DELIVERED BY PRIVATE
DELIVERY SERVICE, UPON