pf_02729 - Laserfiche WebLink

Home

. . by.laws or violate or constitute a default under any law, any presently existing requirement or restriction imposed by judicial, arbitral or other governmental instrumentality or any agreement, instrument or indenture by which the Maker is bound. Each request for an Advance hereunder shall be deemed a reassertion by the Maker of each of the foregoing warranties and representations. The Maker agrees to provide financial information to the Lender that the Lender shall reasonably request and to allow the Lender to inspect the properties, books and records of the Maker. H anyone or more of the following events ("Events of Defaulf') shall occur, then, in any such event, the holder hereof may, at its option, declare this Note to be immediately due and payable, together with all unpaid interest accrued hereon, without further notice or demand, but in the case of any of the occurrence of any of events described in paragraphs (b) or (c) below, this Note shall become automatically due and payable, including unpaid interest accrued hereon, without notice or demand: (a) The Maker shall default in the due and punctual payment of any installment of either principal of or interest on this Note when the same shall become due and payable; (b) The Maker shall (i) apply for or consent to the appointment of a receiver, trustee or liquidator of any of its properties or assets, (H) admit in writing its inability to pay its debts as they mature, (Hi) make a general assignment for the benefit of creditors, (iv) be adjudicated a bankrupt or insolvent, or (v) file a voluntary petition in bankruptcy, or a petition or an answer seeking reorganization or an arrangement with creditors to take advantage of any bankruptcy, reorganization, insolvency, readjustment of debt, dissolution or liquidation law or statute, or an answer admitting the material allegations of a petition filed against it in any proceeding under any such law; or (c) An order, judgment or decree shall be entered, without the application, approval or consent of the Maker, by any court of competent jurisdiction, approving a petition seeking the reorganization or liquidation of the Maker or of all or a substantial part of the properties or assets of the Maker, or appointing a receiver, trustee or liquidator of the Maker, and such order, judgment or decree shall continue unstayed and in effect for any period of ten days. No failure or delay on the part of the holder of this Note in exercising any power or right under this Note shall operate as a waiver thereof, nor shall any single or partial exercise of any such power or right preclude any other or further H3~