ANY ORDER OR THE IMPOSITION OF ANY OTHER PROCESS
HAVING THE FORCE OF LAW, THE EFFECT OF WHICH IS TO RESTRAIN IN ANY MATERIAL WAY
THE CONDUCT BY ANY BORROWER OF ITS BUSINESS IN THE ORDINARY COURSE.
10-10.
BUSINESS FAILURE.
ANY ACT BY, AGAINST, OR RELATING TO ANY BORROWER,
OR ITS PROPERTY OR ASSETS, WHICH ACT CONSTITUTES THE APPLICATION FOR, CONSENT
TO, OR SUFFERANCE OF THE APPOINTMENT OF A RECEIVER, TRUSTEE, OR OTHER PERSON,
PURSUANT TO COURT ACTION OR OTHERWISE, OVER ALL, OR ANY PART OF SUCH BORROWER'S
PROPERTY; THE GRANTING OF ANY TRUST MORTGAGE OR EXECUTION OF AN ASSIGNMENT FOR
THE BENEFIT OF THE CREDITORS OF SUCH BORROWER, OR THE OCCURRENCE OF ANY OTHER
VOLUNTARY OR INVOLUNTARY LIQUIDATION OR EXTENSION OF DEBT AGREEMENT FOR SUCH
BORROWER; OR THE OFFERING BY OR ENTERING INTO BY SUCH BORROWER OF ANY
COMPOSITION, EXTENSION, OR ANY OTHER ARRANGEMENT SEEKING RELIEF FROM OR
EXTENSION OF THE DEBTS OF SUCH BORROWER, OR THE INITIATION OF ANY OTHER JUDICIAL
OR NON-JUDICIAL PROCEEDING OR AGREEMENT BY, AGAINST, OR INCLUDING SUCH BORROWER
WHICH SEEKS OR INTENDS TO ACCOMPLISH A REORGANIZATION OR ARRANGEMENT WITH
CREDITORS.
10-11.
BANKRUPTCY.
THE FAILURE BY ANY BORROWER TO GENERALLY PAY THE DEBTS
OF SUCH BORROWER AS THEY MATURE; THE FILING OF ANY COMPLAINT, APPLICATION, OR
PETITION BY OR AGAINST SUCH BORROWER INITIATING ANY MATTER IN WHICH SUCH
BORROWER IS OR MAY BE GRANTED ANY RELIEF FROM THE DEBTS OF SUCH BORROWER
PURSUANT TO THE BANKRUPTCY CODE OR ANY OTHER INSOLVENCY STATUTE OR PROCEDURE.
10-12.
DEFAULT BY GUARANTOR.
THE OCCURRENCE OF ANY OF THE FOREGOING EVENTS
OF DEFAULT WITH RESPECT TO ANY GUARANTOR OF THE LIABILITIES, AS IF SUCH
GUARANTOR WERE A "BORROWER" DESCRIBED THEREIN.
10-13.
INDICTMENT - FORFEITURE.
THE INDICTMENT OF, OR INSTITUTION OF ANY
LEGAL PROCESS OR PROCEEDING AGAINST, ANY BORROWER, OR ANY GUARANTOR OF THE
LIABILITIES UNDER ANY FEDERAL, STATE, MUNICIPAL, AND OTHER CIVIL OR CRIMINAL
STATUTE, RULE, REGULATION, ORDER, OR OTHER REQUIREMENT HAVING THE FORCE OF LAW
WHERE THE RELIEF, PENALTIES, OR REMEDIES SOUGHT OR AVAILABLE INCLUDE THE
FORFEITURE OF ANY PROPERTY OF SUCH BORROWER AND/OR THE IMPOSITION OF ANY STAY OR
OTHER ORDER, THE EFFECT OF WHICH COULD BE TO RESTRAIN IN ANY MATERIAL WAY THE
CONDUCT BY SUCH BORROWER OF ITS BUSINESS IN THE ORDINARY COURSE.
10-14.
TERMINATION OF GUARANTY.
THE TERMINATION OR ATTEMPTED TERMINATION
OF ANY GUARANTY BY ANY GUARANTOR OF THE LIABILITIES.
10-15.
CHALLENGE TO LOAN DOCUMENTS.
(A)
ANY CHALLENGE BY OR ON BEHALF OF ANY BORROWER OR ANY GUARANTOR OF
THE LIABILITIES TO THE VALIDITY OF ANY LOAN DOCUMENT OR THE APPLICABILITY OR
ENFORCEABILITY OF ANY LOAN DOCUMENT STRICTLY IN ACCORDANCE WITH THE SUBJECT LOAN
DOCUMENT'S TERMS OR WHICH SEEKS TO VOID, AVOID, LIMIT, OR OTHERWISE ADVERSELY
AFFECT ANY SECURITY INTEREST CREATED BY OR IN ANY LOAN DOCUMENT OR ANY PAYMENT
MADE PURSUANT THERETO.
(B)
ANY DETERMINATION BY ANY COURT OR ANY OTHER JUDICIAL OR GOVERNMENT
AUTHORITY THAT ANY LOAN DOCUMENT IS NOT ENFORCEABLE STRICTLY IN ACCORDANCE WITH
THE SUBJECT LOAN DOCUMENT'S TERMS OR WHICH VOIDS,