1981-144 CRA - Laserfiche WebLink

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. . I . . ARTICLE VII EVENTS OF DEFAULT AND REMEDIES OF NOTEHOLDER Section 7.01. Events of Default and Acceleration of Maturities. If one or more of the following events ( "events of default") shall happen, that is to say (a) Failure of Agency to pay any installment of principal or interest or other amount due on the Note or of the C.o 11 atera 1 Documents within ten days after such installment or other amount becomes due; (b) Any representation or warranty of Agency under the Note Purchase Agreement or the Agreement hereunder or any Co 11 atera 1 Documents shall prove to have been untrue in any material respect when made; (c) Agency shall fail to perform or observe any of its covenants .or undertakings under this Resolution, the Note Purchase Agreement or the Agreement as such covenants or undertakings affect Noteholder and such failure shall continue for a period of thirty (30) days after written notice from Noteholder; (d) A court having jurisdiction in the premises shall enter a decree or order for relief in respect of Agency, in an involuntary case under any applicable bankruptcy, insolvency or other similas loss now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Agency, or for any substantial part of his or its property or ordering the winding up or liquidation of the affairs .of any of the same, and such decree or .order shall rami n unstayed and in effect for a period of thirty (30) c.onsecutive days; (e) Agency shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law n.ow or hereafter in effect, .or shall' c.onsent to the entry of any order f.or redelase .of any involuntary case under any such law, or shall consent to the appointment of a receiver, liquidator, assignee, trustee, custodian, sequestrator (or similar official) or the taking possession of any such official or any substantial part of its property, or shall make any general assignment for the benefit of creditors, or shall fail generally to pay its or his debts as they become due or shall take any formal action in furtherance of any of the foregoing; (f) The occurrence of any event which entitles the holder to declare ilTlTIediately due and payable all outstanding princpal on such Promissory Note; (g) The occurrence of an Official Determination; then, and in each and every such case dur i ng the cont i nu ance of such event of default, the Bank or, if applicable, the subsequent Holder, may declare the 14