COLLECT, OR REALIZE UPON ANY OR ALL OF THE COLLATERAL OR THE VALUE THEREOF OR
ANY RIGHT OR REMEDY PERTAINING THERETO, PROVIDED, HOWEVER, THE LENDER'S MAKING
OF ANY SUCH PAYMENT SHALL NOT CONSTITUTE A CURE OR WAIVER OF ANY EVENT OF
DEFAULT OCCASIONED BY THE BORROWERS' FAILURE TO HAVE MADE SUCH PAYMENT.
5-13.
NO MARGIN STOCK.
THE BORROWERS ARE NOT ENGAGED IN THE BUSINESS OF
EXTENDING CREDIT FOR THE PURPOSE OF PURCHASING OR CARRYING ANY MARGIN STOCK
(WITHIN THE MEANING OF REGULATIONS G, U, T, AND X, OF THE BOARD OF GOVERNORS OF
THE FEDERAL RESERVE SYSTEM OF THE UNITED STATES). NO PART OF THE PROCEEDS OF ANY
BORROWING HEREUNDER WILL BE USED AT ANY TIME TO PURCHASE OR CARRY ANY SUCH
MARGIN STOCK OR TO EXTEND CREDIT TO OTHERS FOR THE PURPOSE OF PURCHASING OR
CARRYING ANY SUCH MARGIN STOCK.
5-14.
ERISA.
NEITHER THE BORROWERS NOR ANY ERISA AFFILIATE EVER HAS OR
HEREAFTER SHALL IN ANY CASE WHERE THE FAILURE RESULTS IN A LIEN ON THE
COLLATERAL:
(A)
VIOLATE OR FAIL TO BE IN FULL COMPLIANCE WITH THE BORROWERS'
EMPLOYEE BENEFIT PLAN, EXCEPT WHERE SUCH FAILURE TO BE IN FULL COMPLIANCE WILL
NOT HAVE A MATERIAL ADVERSE CHANGE ON THE BORROWERS OR ITS BUSINESS OR ASSETS,
OR THE COLLATERAL.
(B)
FAIL TIMELY TO FILE ALL REPORTS AND FILINGS REQUIRED BY ERISA TO
BE FILED BY THE BORROWERS.
(C)
ENGAGE IN ANY "PROHIBITED TRANSACTIONS" OR "REPORTABLE EVENTS"
(RESPECTIVELY AS DESCRIBED IN ERISA).
(D)
ENGAGE IN, OR COMMIT, ANY ACT SUCH THAT A TAX OR PENALTY COULD BE
IMPOSED ON ACCOUNT THEREOF PURSUANT TO ERISA.
(E)
ACCUMULATE ANY MATERIAL FUNDING DEFICIENCY WITHIN THE MEANING OF
ERISA.
23
(F)
TERMINATE ANY EMPLOYEE BENEFIT PLAN SUCH THAT A LIEN COULD BE
ASSERTED OF THE BORROWERS ON ACCOUNT THEREOF PURSUANT TO ERISA.
(G)
BE A MEMBER OF, CONTRIBUTE TO, OR HAVE ANY OBLIGATION UNDER ANY
EMPLOYEE BENEFIT PLAN WHICH IS A MULTIEMPLOYER PLAN WITHIN THE MEANING OF
SECTION 4001 (A) OF ERISA.
5-15.
HAZARDOUS MATERIALS.
(A)
THE BORROWERS HAVE NEVER:
(I)
BEEN LEGALLY RESPONSIBLE FOR ANY RELEASE OR THREAT OF RELEASE OF
ANY HAZARDOUS MATERIAL.
(II)
RECEIVED NOTIFICATION OF ANY RELEASE OR THREAT OF RELEASE OF ANY
HAZARDOUS MATERIAL FROM ANY SITE OR VESSEL OCCUPIED OR OPERATED BY THE BORROWERS
AND/OR OF THE INCURRENCE OF ANY EXPENSE OR LOSS IN CONNECTION WITH THE
ASSESSMENT, CONTAINMENT, OR REMOVAL OF ANY RELEASE OR THREAT OF RELEASE OF ANY
HAZARDOUS MATERIAL FROM ANY SUCH SITE OR VESSEL.
(B)
THE BORROWERS SHALL:
(I)
DISPOSE OF ANY HAZARDOUS MATERIAL ONLY IN COMPLIANCE WITH ALL
ENVIRONMENTAL LAWS AND EXCEPT AS SET FORTH ON EXHIBIT 5-1 5 (B) (II) HEREOF.
(II)
NOT STORE ON ANY SITE OR VESSEL OCCUPIED OR OPERATED BY THE
BORROWERS AND NOT TRANSPORT OR ARRANGE FOR THE TRANSPORT OF ANY HAZARDOUS
MATERIAL, EXCEPT IF SUCH STORAGE OR TRANSPORT IS IN THE ORDINARY COURSE OF THE
BORROWERS' BUSINESS AND IS IN COMPLIANCE WITH ALL ENVIRONMENTAL LAWS.
(C)
THE BORROWERS SHALL PROVIDE THE LENDER WITH WRITTEN NOTICE UPON