PERMIT NOW HELD OR HEREAFTER
ACQUIRED BY BORROWER OR ANY OF ITS SUBSIDIARIES, IF SUCH LOSS, SUSPENSION,
REVOCATION OR FAILURE TO RENEW COULD REASONABLY BE EXPECTED TO HAVE A MATERIAL
ADVERSE EFFECT; OR
(R)
FORFEITURE.
THERE IS FILED AGAINST ANY LOAN
PARTY OF ANY CIVIL OR CRIMINAL ACTION, SUIT OR PROCEEDING UNDER ANY FEDERAL OR
STATE RACKETEERING STATUTE (INCLUDING, WITHOUT LIMITATION, THE RACKETEER
INFLUENCED AND CORRUPT ORGANIZATION ACT OF 1970), WHICH ACTION, SUIT OR
PROCEEDING (1) IS NOT DISMISSED WITHIN ONE HUNDRED TWENTY (120) DAYS; AND
(2) COULD REASONABLY BE EXPECTED TO RESULT IN THE CONFISCATION OR FORFEITURE OF
ANY MATERIAL PORTION OF THE COLLATERAL, OR
48
(S)
DEFAULT UNDER CANADIAN FACILITY CREDIT
AGREEMENT.
ANY EVENT OF DEFAULT (AS DEFINED UNDER THE CANADIAN FACILITY CREDIT
AGREEMENT) SHALL OCCUR UNDER THE CANADIAN FACILITY CREDIT AGREEMENT.
8.2
SUSPENSION OF COMMITMENTS.
UPON THE
OCCURRENCE OF ANY DEFAULT OR EVENT OF DEFAULT, NOTWITHSTANDING ANY GRACE PERIOD
OR RIGHT TO CURE, AGENT MAY OR UPON DEMAND BY REQUISITE LENDERS SHALL, WITHOUT
NOTICE OR DEMAND, IMMEDIATELY CEASE MAKING ADDITIONAL LOANS AND THE COMMITMENTS
SHALL BE SUSPENDED; PROVIDED THAT, IN THE CASE OF A DEFAULT, IF THE SUBJECT
CONDITION OR EVENT IS WAIVED OR CURED WITHIN ANY APPLICABLE GRACE OR CURE
PERIOD, THE COMMITMENTS SHALL BE REINSTATED.
8.3
ACCELERATION.
UPON THE OCCURRENCE OF ANY
EVENT OF DEFAULT DESCRIBED IN THE FOREGOING SUBSECTIONS 8.1(G) OR 8.1(H), ALL
OBLIGATIONS SHALL AUTOMATICALLY BECOME IMMEDIATELY DUE AND PAYABLE, WITHOUT
PRESENTMENT, DEMAND, PROTEST OR OTHER REQUIREMENTS OF ANY KIND, ALL OF WHICH ARE
HEREBY EXPRESSLY WAIVED BY OBLIGORS, AND THE COMMITMENTS SHALL THEREUPON
TERMINATE.
UPON THE OCCURRENCE AND DURING THE CONTINUANCE OF ANY OTHER EVENT OF
DEFAULT, AGENT MAY, AND UPON DEMAND BY REQUISITE LENDERS SHALL, BY WRITTEN
NOTICE TO BORROWER, (A) DECLARE ALL OR ANY PORTION OF THE OBLIGATIONS TO BE, AND
THE SAME SHALL FORTHWITH BECOME, IMMEDIATELY DUE AND PAYABLE AND THE COMMITMENTS
SHALL THEREUPON TERMINATE AND (B) DEMAND THAT BORROWER IMMEDIATELY DEPOSIT WITH
AGENT AN AMOUNT EQUAL TO ONE HUNDRED FIVE PERCENT (105%) OF THE BALANCE OF
LETTER OF CREDIT OBLIGATIONS TO ENABLE AGENT OR L/C ISSUER TO MAKE PAYMENTS
UNDER THE LETTERS OF CREDIT WHEN REQUIRED AND SUCH AMOUNT SHALL BECOME
IMMEDIATELY DUE AND PAYABLE.
8.4
REMEDIES.
IF ANY EVENT OF DEFAULT SHALL
HAVE OCCURRED AND BE CONTINUING, IN ADDITION TO AND NOT IN LIMITATION OF ANY
OTHER RIGHTS OR REMEDIES AVAILABLE TO AGENT AND LENDERS AT LAW OR IN EQUITY,
AGENT MAY, AND SHALL UPON THE REQUEST OF REQUISITE LENDERS, EXERCISE IN RESPECT
OF THE COLLATERAL, IN ADDITION TO ALL OTHER RIGHTS AND REMEDIES PROVIDED FOR
HEREIN OR OTHERWISE AVAILABLE TO IT, ALL THE RIGHTS AND REMEDIES OF A SECURED
PARTY ON DEFAULT UNDER THE UCC (WHETHER OR NOT THE UCC APPLIES TO THE AFFECTED
COLLATERAL) AND MAY ALSO (A) REQUIRE OBLIGORS TO, AND EACH OBLIGOR HEREBY AGREES
THAT IT WILL, AT ITS EXPENSE AND UPON REQUEST OF AGENT FORTHWITH, ASSEMBLE ALL
OR PART OF THE COLLATERAL AS DIRECTED BY AGENT AND MAKE IT AVAILABLE TO