$100,000, SUCH DEFAULT CONSISTS OF THE FAILURE TO PAY
ANY PRINCIPAL, PREMIUM OR INTEREST WITH RESPECT TO SUCH INDEBTEDNESS OR
(II) SUCH DEFAULT CONSISTS OF THE FAILURE TO PERFORM ANY COVENANT OR AGREEMENT
WITH RESPECT TO SUCH INDEBTEDNESS, IF THE EFFECT OF SUCH DEFAULT IS TO CAUSE OR
PERMIT SUCH INDEBTEDNESS TO BECOME DUE PRIOR TO ITS MATURITY DATE OR PRIOR TO
ITS REGULARLY SCHEDULED DATE OF PAYMENT;
(G)
OTHER AGREEMENTS WITH LENDER.
(I)
THE OCCURRENCE OF ANY DEFAULT OR EVENT
OF DEFAULT UNDER ANY OF THE OTHER LOAN DOCUMENTS;
(II)
ANY OF THE OTHER LOAN DOCUMENTS CEASES TO
BE VALID, BINDING AND ENFORCEABLE IN ACCORDANCE WITH ITS TERMS; AND
(III)
BORROWERS, OR ANY OF THEM, BREACH OR VIOLATE
THE TERMS OF, OR IF A DEFAULT OR AN EVENT OF DEFAULT, OCCURS UNDER, ANY OTHER
EXISTING OR FUTURE AGREEMENT (RELATED OR UNRELATED) BETWEEN OR AMONG
30
BORROWERS, OR ANY OF THEM AND LENDER, INCLUDING, WITHOUT LIMITATION, ANY LEASE
AGREEMENTS OR FINANCE AGREEMENTS WITH ANY AFFILIATE OF LENDER;
(H)
JUDGMENTS.
IF ANY FINAL JUDGMENT FOR THE
PAYMENT OF MONEY IN EXCESS OF $50,000.00 SHALL BE RENDERED AGAINST BORROWERS, OR
ANY OF THEM, WHICH IS NOT FULLY AND UNCONDITIONALLY COVERED BY INSURANCE (AND
SUCH COVERAGE IS PROVIDED BY A FINANCIALLY SOUND AND REPUTABLE INSURANCE COMPANY
THAT HAS NOT DISCLAIMED SUCH COVERAGE IN WRITING) OR AN APPEAL BOND, OR FOR
WHICH SUCH PERSON HAS NOT ESTABLISHED A CASH OR CASH EQUIVALENT RESERVE IN THE
AMOUNT OF SUCH JUDGMENT EACH IN THE FORM, SUBSTANCE AND AMOUNT SATISFACTORY TO
LENDER IN ITS SOLE DISCRETION;
(I)
ASSIGNMENT FOR BENEFIT OF CREDITORS,
ETC.
IF BORROWERS, OR ANY OF THEM, CALL A MEETING OF THE CREDITORS OF ANY
BORROWER FOR THE PURPOSE OF COMPROMISING SUCH BORROWER'S DEBTS OR OBLIGATIONS,
OR MAKE OR PROPOSE AN ASSIGNMENT FOR THE BENEFIT OF CREDITORS GENERALLY, OFFERS
A COMPOSITION OR EXTENSION TO CREDITORS GENERALLY, OR MAKES OR SENDS NOTICE OF
AN INTENDED BULK SALE OF ANY BUSINESS OR ASSETS NOW OR HEREAFTER OWNED OR
CONDUCTED BY ANY BORROWER WHICH MIGHT MATERIALLY AND ADVERSELY AFFECT SUCH
PERSON;
(J)
BANKRUPTCY, DISSOLUTION, ETC.
UPON THE
COMMENCEMENT OF ANY ACTION FOR THE BANKRUPTCY, INSOLVENCY, RECEIVERSHIP,
ASSIGNMENT FOR THE BENEFIT OF CREDITORS, DISSOLUTION OR LIQUIDATION, OR SIMILAR
PROCEEDING UNDER ANY FEDERAL OR STATE LAW, OF BORROWERS, OR ANY OF THEM, OR THE
COMMENCEMENT OF ANY PROCEEDING TO AVOID ANY TRANSACTION ENTERED INTO BY
BORROWERS, OR ANY OF THEM, OR THE COMMENCEMENT OF ANY CASE OR PROCEEDING FOR
REORGANIZATION OR LIQUIDATION OF BORROWERS', OR ANY OF THEIR DEBTS UNDER THE
UNITED STATES BANKRUPTCY CODE OR ANY OTHER STATE OR FEDERAL LAW NOW OR HEREAFTER
ENACTED FOR THE RELIEF OF DEBTORS, WHETHER INSTITUTED BY OR AGAINST ANY
BORROWER; PROVIDED, HOWEVER, THAT BORROWERS SHALL HAVE TEN (10) DAYS TO CONTEST
SUCH PROCEEDING AND THIRTY (30) DAYS FROM THE COMMENCEMENT OF THE ACTION TO
OBTAIN THE DISMISSAL OR DISCHARGE OF INVOLUNTARY PROCEEDINGS FILED AGAINST A
BORROWER, IT BEING UNDERSTOOD THAT DURING SUCH TEN (10) AND THIRTY (30) DAY
PERIODS, RESPECTIVELY, LENDER