OF SUCH JUDGMENT SATISFIED BY THE ISSUANCE OF CONSIDERATION THAT DOES NOT
CONSIST OF CASH OR CASH EQUIVALENTS, BECOMES A LIEN OR ENCUMBRANCE UPON ANY OF
BORROWER'S OR ANY OF THE
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GUARANTORS' ASSETS AND THE SAME IS NOT RELEASED, DISCHARGED, BONDED AGAINST, OR
STAYED PENDING APPEAL BEFORE THE EARLIER OF 30 DAYS AFTER THE DATE IT FIRST
ARISES OR 5 DAYS PRIOR TO THE DATE ON WHICH SUCH ASSET IS SUBJECT TO BEING
FORFEITED BY BORROWER OR ANY OF THE GUARANTORS;
8.11
IF THERE IS A DEFAULT IN ANY MATERIAL AGREEMENT TO WHICH BORROWER OR ANY
OF THE GUARANTORS IS A PARTY AND SUCH DEFAULT (A) OCCURS AT THE FINAL MATURITY
OF THE OBLIGATIONS THEREUNDER, OR (B) RESULTS IN A RIGHT BY THE OTHER PARTY
THERETO, IRRESPECTIVE OF WHETHER EXERCISED, TO ACCELERATE THE MATURITY OF
BORROWER'S OR THE GUARANTORS' OBLIGATIONS THEREUNDER, OR TO TERMINATE SUCH
AGREEMENT;
8.12
IF BORROWER OR ANY OF THE GUARANTORS MAKES ANY PAYMENT ON ACCOUNT OF
INDEBTEDNESS THAT HAS BEEN CONTRACTUALLY SUBORDINATED IN RIGHT OF PAYMENT TO THE
PAYMENT OF THE OBLIGATIONS, EXCEPT TO THE EXTENT SUCH PAYMENT IS PERMITTED BY
THE TERMS OF THE SUBORDINATION PROVISIONS APPLICABLE TO SUCH INDEBTEDNESS;
8.13
IF ANY MISSTATEMENT OR MISREPRESENTATION EXISTS NOW OR HEREAFTER IN ANY
WARRANTY, REPRESENTATION, STATEMENT, OR RECORD MADE TO LENDER BY BORROWER, THE
GUARANTORS, OR ANY OFFICER, EMPLOYEE, AGENT, OR DIRECTOR OF BORROWER OR ANY OF
THE GUARANTORS;
8.14
IF THE OBLIGATION OF ANY GUARANTOR UNDER THE GUARANTY IS LIMITED OR
TERMINATED BY OPERATION OF LAW OR IF THE OBLIGATION OF ANY GUARANTOR THEREUNDER
IS LIMITED OR TERMINATED BY SUCH GUARANTOR;
8.15
IF THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT THAT PURPORTS TO CREATE A
LIEN, SHALL, FOR ANY REASON, FAIL OR CEASE TO CREATE A VALID AND PERFECTED AND,
EXCEPT TO THE EXTENT PERMITTED BY THE TERMS HEREOF OR THEREOF, FIRST PRIORITY
LIEN ON OR SECURITY INTEREST IN THE COLLATERAL COVERED HEREBY OR THEREBY; OR
8.16
ANY PROVISION OF ANY LOAN DOCUMENT SHALL AT ANY TIME FOR ANY REASON BE
DECLARED TO BE NULL AND VOID, OR THE VALIDITY OR ENFORCEABILITY THEREOF SHALL BE
CONTESTED BY BORROWER OR ANY OF THE GUARANTORS, OR A PROCEEDING SHALL BE
COMMENCED BY BORROWER OR ANY OF THE GUARANTORS, OR BY ANY GOVERNMENTAL AUTHORITY
HAVING JURISDICTION OVER BORROWER OR ANY OF THE GUARANTORS SEEKING TO ESTABLISH
THE INVALIDITY OR UNENFORCEABILITY THEREOF, OR BORROWER OR ANY OF THE
GUARANTORS, SHALL DENY THAT BORROWER OR THE GUARANTORS HAS ANY LIABILITY OR
OBLIGATION PURPORTED TO BE CREATED UNDER ANY LOAN DOCUMENT.
9.
LENDER'S RIGHTS AND REMEDIES.
9.1
Rights and Remedies.
Upon the occurrence, and during the continuation, of
an Event of Default, Lender (at its election but without notice of its election
and without demand) may do any one or more of the following, all of which are
authorized by Borrower:
(A)
DECLARE ALL OBLIGATIONS, WHETHER EVIDENCED BY THIS AGREEMENT, BY
ANY OF THE OTHER LOAN DOCUMENTS, OR OTHERWISE, IMMEDIATELY DUE AND PAYABLE;
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(B)
CEASE ADVANCING MONEY