MUNICIPALITY OR OTHER GOVERNMENTAL AGENCY (OTHER THAN PERMITTED
ENCUMBRANCES) AND SUCH LIEN, LEVY OR ASSESSMENT IS NOT STAYED, VACATED, PAID OR
DISCHARGED WITHIN TEN (10) DAYS; OR
47
(J)
JUDGMENT AND ATTACHMENTS.
ANY MONEY
JUDGMENT, WRIT OR WARRANT OF ATTACHMENT, OR SIMILAR PROCESS INVOLVING (1) AN
AMOUNT IN ANY INDIVIDUAL CASE IN EXCESS OF $300,000 OR (2) AN AMOUNT IN THE
AGGREGATE AT ANY TIME IN EXCESS OF $500,000 (IN EITHER CASE NOT ADEQUATELY
COVERED BY INSURANCE AS TO WHICH THE INSURANCE COMPANY HAS ACKNOWLEDGED
COVERAGE) IS ENTERED OR FILED AGAINST ANY LOAN PARTY OR ANY OF THEIR RESPECTIVE
ASSETS AND REMAINS UNDISCHARGED, UNVACATED, UNBONDED OR UNSTAYED FOR A PERIOD OF
THIRTY (30) DAYS, BUT IN ANY EVENT NOT LATER THAN FIVE (5) DAYS PRIOR TO THE
DATE OF ANY PROPOSED SALE THEREUNDER; OR
(K)
DISSOLUTION.
ANY ORDER, JUDGMENT OR DECREE IS
ENTERED AGAINST ANY LOAN PARTY DECREEING THE DISSOLUTION OR SPLIT UP OF SUCH
LOAN PARTY AND SUCH ORDER REMAINS UNDISCHARGED OR UNSTAYED FOR A PERIOD IN
EXCESS OF FIFTEEN (15) DAYS, BUT IN ANY EVENT NOT LATER THAN FIVE (5) DAYS PRIOR
TO THE DATE OF ANY PROPOSED DISSOLUTION OR SPLIT UP; OR
(L)
SOLVENCY. ANY LOAN PARTY CEASES TO BE
SOLVENT (AS REPRESENTED BY OBLIGORS IN SUBSECTION 4.15) OR ADMITS IN WRITING ITS
PRESENT OR PROSPECTIVE INABILITY TO PAY ITS DEBTS AS THEY BECOME DUE; OR
(M)
INJUNCTION. ANY LOAN PARTY IS ENJOINED,
RESTRAINED OR IN ANY WAY PREVENTED BY THE ORDER OF ANY COURT OR ANY
ADMINISTRATIVE OR REGULATORY AGENCY FROM CONDUCTING ALL OR ANY MATERIAL PART OF
ITS BUSINESS AND SUCH ORDER CONTINUES FOR FIFTEEN (15) DAYS OR MORE; OR
(N)
INVALIDITY OF LOAN DOCUMENTS.
ANY OF THE LOAN
DOCUMENTS FOR ANY REASON, OTHER THAN A PARTIAL OR FULL RELEASE IN ACCORDANCE
WITH THE TERMS THEREOF, CEASES TO BE IN FULL FORCE AND EFFECT OR IS DECLARED TO
BE NULL AND VOID, OR ANY LOAN PARTY DENIES THAT IT HAS ANY FURTHER LIABILITY
UNDER ANY LOAN DOCUMENTS TO WHICH IT IS PARTY, OR GIVES NOTICE TO SUCH EFFECT;
OR
(O)
FAILURE OF SECURITY.
AGENT, ON BEHALF OF
ITSELF AND LENDERS, DOES NOT HAVE OR CEASES TO HAVE A VALID AND PERFECTED FIRST
PRIORITY SECURITY INTEREST IN THE COLLATERAL (SUBJECT TO PERMITTED
ENCUMBRANCES), IN EACH CASE, FOR ANY REASON OTHER THAN THE FAILURE OF AGENT OR
ANY LENDER TO TAKE ANY ACTION WITHIN ITS CONTROL; OR
(P)
DAMAGE, STRIKE, CASUALTY.
ANY MATERIAL
DAMAGE TO, OR LOSS, THEFT OR DESTRUCTION OF, ANY COLLATERAL, WHETHER OR NOT
INSURED, OR ANY STRIKE, LOCKOUT, LABOR DISPUTE, EMBARGO, CONDEMNATION, ACT OF
GOD OR PUBLIC ENEMY, OR OTHER CASUALTY WHICH CAUSES, FOR MORE THAN FIFTEEN (15)
CONSECUTIVE DAYS, THE CESSATION OR SUBSTANTIAL CURTAILMENT OF REVENUE PRODUCING
ACTIVITIES AT ANY FACILITY OF BORROWER OR ANY OF ITS SUBSIDIARIES IF ANY SUCH
EVENT OR CIRCUMSTANCE COULD REASONABLY BE EXPECTED TO HAVE A MATERIAL ADVERSE
EFFECT; OR
(Q)
LICENSES AND PERMITS.
THE LOSS, SUSPENSION OR
REVOCATION OF, OR FAILURE TO RENEW, ANY LICENSE OR