Common use of Bankruptcy or Insolvency Clause in Contracts

Bankruptcy or Insolvency. Mortgagor or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, joint venturer or member of Mortgagor or such other person or entity): (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the same.

Bankruptcy or Insolvency. Mortgagor The owner of the Property or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, joint venturer or member of Mortgagor or such other person or entitypartners): (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other federal, state or local law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “"Debtor Relief Laws”"), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty sixty (3060) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee promptly any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor or any other person liable, directly or indirectly, for any Any of the Secured Indebtedness following shall occur or exist: (or any general partner, joint venturer or member of Mortgagor or such other person or entity): (Aa) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, receiver trustee, custodian custodian, conservator, or liquidator of for Borrower, the Property Premises, or any part thereof other Property of Borrower and such appointment is not dismissed within ninety (90) days after such appointment; (b) a filing by Borrower of a voluntary petition in bankruptcy, or a petition seeking reorganization or rearrangement or taking advantage of any significant portion of its other propertydebtor relief laws; or (iic) Suffers the filing against Borrower of a petitionpetition in any bankruptcy, casereorganization, insolvency, conservatorship, receivership or similar proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and either (Ai) admits, acquiesces in or fails to contest diligently Borrower admits the material allegations thereof, or (B) acquiesces therein or fails to contest the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against itsame, or (Cii) in a proceeding under Debtor Relief Laws, the case petition or action is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently not dismissed or discharged on or before the earlier of trial thereon or sixty within ninety (6090) days next following the date of its filing; or (iiid) Concealsthe entry of any order, removesjudgment or decree by any court of competent jurisdiction adjudicating Borrower as bankrupt or insolvent, and the same is not dismissed within ninety (90) days after the filing of the same, or permits to be concealed or removed, any part approving a petition seeking reorganization of its property, with intent to hinder, delay or defraud its creditors Borrower or any of them, or makes or suffers a transfer arrangement of any of its property which may be fraudulent Borrower’s debts, including entry of any Order for Relief under any bankruptcy, fraudulent conveyance or similar lawTitle 11 of the United States Code; or makes any transfer (e) an admission by Borrower in writing of its property inability, or the failure by Borrower to or pay its debts as they become due; (f) the making by Borrower of a general assignment for the benefit of a creditor at a time when other creditors similarly situated have not been paidcreditors; or suffers or permits(g) the liquidation, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, any attachment, sequestrationtermination, or similar writ levied upon any portion dissolution of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameBorrower.

Bankruptcy or Insolvency. Mortgagor or (a) A Grantor shall commence any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, joint venturer or member of Mortgagor or such other person or entity): (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, (i) under any existing or voluntarily seeks the benefit future law or benefits of, Title 11 statute of the United States Code as now or hereafter in effect or any other lawjurisdiction, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidationreorganization or relief of debtors, receivershipseeking to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, compositionadjustment, extension winding-up, liquidation, dissolution, composition or adjustment of other relief with respect to it or its debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian custodian, conservator or liquidator of the Property other similar official for it or for all or any substantial part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereofProperty, or a Grantor shall make a general assignment for the benefit of its creditors; (Bb) the petition, There shall be commenced against a Grantor any case, proceeding or other action of a nature referred to in clause (a) above which (i) results in the entry of any an order for relief or order granting relief sought against it, any such adjudication or appointment or (Cii) in remains undismissed, undischarged, unstayed or unbonded for a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or period of 30 days; (Dc) fails to have the petition, There shall be commenced against a Grantor any case, proceeding or other action permanently dismissed seeking issuance of a warrant or discharged on writ of attachment, execution, distraint or before the earlier of trial thereon similar process against all or sixty (60) days next following the date any substantial part of its filingProperty which results in the entry of an order for such relief which shall not have been vacated, discharged, stayed or bonded pending appeal within 30 days from the entry thereof; (d) A Grantor shall take any corporate action in furtherance of, or indicating its consent to, approval of or acquiescence in, any of the acts set forth in clause (a), (b), or (c) above; or (iiie) Conceals, removesa Grantor shall be generally unable to, or permits shall admit its general inability to, pay its debts (except for those debts communicated by Borrower to be concealed or removed, any part Lender in writing to the extent Borrower has reached an agreement with the obligee of its property, with intent such debts to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for extend the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the maturity date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the samethey become due.

Bankruptcy or Insolvency. Mortgagor The owner of the Property or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, partner or joint venturer of such owner or member of Mortgagor or such other person or entityperson): (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other federal, state or local law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty ten (3010) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor Mortgagor, Guarantor, Prudential or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, joint venturer or member of Mortgagor or such other person or entity): (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “"Debtor Relief Laws”"), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the same.

Bankruptcy or Insolvency. Mortgagor Borrower or Guarantor Subsidiary or any other person liable, directly or indirectly, for any Consolidated Subsidiary of the Secured Indebtedness Borrower: (or any general partner, joint venturer or member of Mortgagor or such other person or entity): i) (A) Executes executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”)Law, or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other propertythe Property; or (ii) Suffers suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other propertythe Property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or ; (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or ; (C) in a proceeding under Debtor Relief Lawsthe Title 11 of the United States Code, the case is converted from one chapter to another, ; or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty ninety (6090) days next following the date of its filing; or (iii) Concealsconceals, removes, or permits to be concealed or removed, any part of its propertyProperty, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property Property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paidLaw; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property Property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof of such lien and in any event within sixty ninety (6090) days from the date thereof; or; (iv) Fails fails to have discharged within a period of thirty (30) days, but in days any event prior to sale, seizure or transfer of title, any attachment, attachment sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the sameProperty; or (v) Fails fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment in excess of $10,000,000 against it within a period of thirty (30) days from after the date entry of entry, but in any event, prior to any action being taken to enforce the samesuch judgment.

Bankruptcy or Insolvency. In the event that Mortgagor or any other person liableGuarantor or, directly or indirectly, for any of the Secured Indebtedness (if Mortgagor or any Guarantor is a general partneror limited partnership, joint venturer or member any general partner of Mortgagor or any such other person or entity): entity (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (Ba) admits in writing its inability to pay, or fails to pay, pay its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit does not pay its debts generally as they become due, (b) commences as debtor any case or benefits of, Title 11 of the United States Code as now or hereafter in effect or proceeding under any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, reorganization, liquidation, receivership, reorganization, arrangement, composition, extension dissolution or adjustment of debtssimilar law, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), seeks or takes any action in furtherance thereof; or (D) seeks consents to the appointment of a receiver, conservator, trustee, custodian custodian, manager, liquidator or liquidator of similar official for it or the Property whole or any substantial part thereof or of any significant portion of its other property; or , (c) has a receiver, conservator, trustee, custodian, manager, liquidator, or similar official appointed for it or the whole or any substantial part of its property, by any governmental authority with jurisdiction to do so, (d) makes a proposal or any assignment for the benefit of its creditors, or enters into an arrangement or composition or similar plan or scheme with or for the benefit of creditors generally occurring in circumstances in which such entity is unable to meet its obligations as they become due or (e) has filed against it any case or proceeding under any bankruptcy, insolvency, reorganization, liquidation, dissolution or similar law which (i) is consented to or not timely contested by such entity, (ii) Suffers results in the filing entry of a petitionan order for relief, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, conservator, trustee, custodian custodian, manager, liquidator or liquidator of similar official for such entity or the Property whole or any substantial part thereof or of any significant portion of its other property, and (A) admits, acquiesces in property or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have is not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event dismissed within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to salean Event of Default shall have occurred and as a result, seizure or transfer of title, any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence entire principal balance of the foregoing Note and all obligations under any Guaranty shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays become immediately due and payable at the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction option of Mortgagee without notice to Mortgagor or any final money judgment against Guarantor and Mortgagee may exercise any remedies available to it within a period of thirty (30) days from the date of entryhereunder, but under any other Loan Document, at law or in any event, prior to any action being taken to enforce the sameequity.

Bankruptcy or Insolvency. Mortgagor Borrower or Guarantor Subsidiary or any other person liable, directly or indirectly, for any Consolidated Subsidiary of the Secured Indebtedness (or any general partner, joint venturer or member of Mortgagor or such other person or entity):Borrower: (A) Executes executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”)Law, or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other propertythe Property; or (ii) Suffers suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other propertythe Property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or ; (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or ; (C) in a proceeding under Debtor Relief Lawsthe Title 11 of the United States Code, the case is converted from one chapter to another, ; or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty ninety (6090) days next following the date of its filing; or (iii) Concealsconceals, removes, or permits to be concealed or removed, any part of its propertyProperty, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property Property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paidLaw; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property Property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof of such lien and in any event within sixty ninety (6090) days from the date thereof; or (iv) Fails fails to have discharged within a period of thirty (30) days, but in days any event prior to sale, seizure or transfer of title, any attachment, attachment sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the sameProperty; or (v) Fails fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment in excess of $500,000 against it within a period of thirty (30) days from after the date entry of entry, but in any event, prior to any action being taken to enforce the samesuch judgment.

Bankruptcy or Insolvency. Mortgagor Borrower, BH Member, or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, joint venturer or member of Mortgagor or such other person or entity):Guarantor: (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law Laws or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Lawsthe Title 11 of the United States Code, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paidLaw; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof of such lien and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; providedproperty unless such attachment, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy sequestration or similar writ is being contested in good faith by proper proceedings which stays the enforcement of the sameaccordance with Section 2.16 herein; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee within thirty (30) days any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor Borrower or Guarantor Subsidiary or any other person liable, directly or indirectly, for any Consolidated Subsidiary of the Secured Indebtedness Borrower: (or any general partner, joint venturer or member of Mortgagor or such other person or entity): i) (A) Executes executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”)Law, or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other propertythe Property; or (ii) Suffers suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other propertythe Property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or ; (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or ; (C) in a proceeding under Debtor Relief Lawsthe Title 11 of the United States Code, the case is converted from one chapter to another, ; or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty ninety (6090) days next following the date of its filing; or (iii) Concealsconceals, removes, or permits to be concealed or removed, any part of its propertyProperty, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property Property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paidLaw; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property Property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof of such lien and in any event within sixty ninety (6090) days from the date thereof; or (iv) Fails fails to have discharged within a period of thirty (30) days, but in days any event prior to sale, seizure or transfer of title, any attachment, attachment sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the sameProperty; or (v) Fails fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment in excess of $500,000 against it within a period of thirty (30) days from after the date entry of entry, but in any event, prior to any action being taken to enforce the samesuch judgment.

Bankruptcy or Insolvency. Mortgagor The owner of the Mortgaged Property or any other person liable, directly or indirectly, for any of the Secured Indebtedness Obligations (or any guarantor, general partner, partner or joint venturer of such owner or member of Mortgagor or such other person or entityperson): (Ai) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (Bii) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (Ciii) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, : Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (Div) seeks the appointment of a receiver, trustee, custodian or liquidator of the Mortgaged Property or any part thereof or of any significant portion portion) of its other property; or (ii2) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Mortgaged Property or any part thereof or of any significant portion of its other property, and (Ai) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (Bii) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (Ciii) in a proceeding under Debtor Relief Lawsthe Federal Bankruptcy Code, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii3) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which causes or increases its insolvency or which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of or a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameproceedings.

Bankruptcy or Insolvency. Mortgagor Either party may, by notice to the other party, terminate this Agreement without any further obligation hereunder (other than obligations under any provision of this Agreement that is expressly stated to survive the expiration or termination hereof and except as provided in §14(g) below) if (i) the other party shall (A) file a voluntary petition or assignment in bankruptcy or a voluntary petition or assignment or answer seeking liquidation, reorganization, arrangement, readjustment of its debts, or any other person liable, directly or indirectly, for any relief under Title 11 of the Secured Indebtedness United States Code (the “Bankruptcy Code”), or under any general partnerother act or law pertaining to insolvency or debtor relief, joint venturer whether state, federal, or member foreign, now or hereafter existing, (B) enter into any agreement indicating consent to, approval of, or acquiescence in, any such petition or proceeding, (C) apply for or permit the appointment, by consent or acquiescence, of Mortgagor a receiver, custodian or such other person trustee of all or entity): a substantial part of its property, (AD) Executes make an assignment for the benefit of creditors, (E) be unable or takes any action in furtherance thereof; fail to pay its debts generally as such debts become due, or (BF) admits admit in writing its inability or failure to pay, or fails to pay, pay its debts generally as they such debts become due; due or (Cii) as there occurs (x) a debtor, files a petition, case, proceeding filing or issuance against the other action pursuant to, party of an involuntary petition in bankruptcy or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, seeking liquidation, receivership, reorganization, arrangement, composition, extension readjustment of its debts or adjustment of debtsany other relief under the Bankruptcy Code, or similar laws affecting under any other act or law pertaining to insolvency or debtor relief, whether state, federal or foreign, now or hereafter existing, (y) the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (D) seeks the involuntary appointment of a receiver, trusteeliquidator, custodian or liquidator trustee of the Property other party or any part thereof for all or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any substantial part of its propertyproperty or (z) the issuance of a warrant of attachment, with intent to hinder, delay execution or defraud its creditors similar process against all or any substantial part of themthe property of the other party and as such shall not have been discharged (or provision shall not have been made for such discharge), or makes or suffers a transfer stay of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement execution thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it been procured, within a period of thirty (30) 60 days from the date of entryentry thereof, but unless, in any eventsuch case, prior to any action being taken to enforce the sametrustee in bankruptcy or receiver, as applicable, shall within a reasonable time assume this Agreement or otherwise give reasonable assurances of the performance of all obligations of such other party hereunder.

Bankruptcy or Insolvency. Mortgagor or any other person liable, directly or indirectly, for any In the event of the Secured Indebtedness (institution of a proceeding in a court having jurisdiction seeking a decree or order for relief in respect of any general partnerMember in any involuntary case under any applicable bankruptcy, joint venturer or member of Mortgagor or such other person or entity): (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding insolvency or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as similar law now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debtseffect, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (D) seeks for the appointment of a receiver, trusteeliquidator, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiverassignee, trustee, custodian or liquidator sequestrator (or similar official) for a substantial part of the Property or any part thereof or of any significant portion of its other his property, and (A) admitssuch proceeding shall remain undismissed or unstayed and in effect for a period of 90 consecutive days or such court shall enter a decree or order granting the relief sought in such proceeding; or in the event any Member shall commence a voluntary case under any applicable bankruptcy, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding insolvency or other action results similar law now or hereafter in effect, shall consent to the entry of any an order for relief in an involuntary case under any such law or order granting relief sought against itshall consent to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian or sequestrator (or other similar official) of a substantial part of his property, or (C) in shall make a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or general assignment for the benefit of a creditor at a time when other creditors similarly situated have not been paid; his creditors, or suffers or permits, while insolvent, shall take any creditor to obtain a lien (other than as described formal action in subparagraph (iv) below) upon furtherance of any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and the foregoing; then, in any event within sixty such event, (60i) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, any attachment, sequestration, or similar writ levied Member owning the affected Units shall give the Company and the Other Members written notice thereof promptly upon any portion of its property; provided, however, that the occurrence of such event, and (ii) the foregoing Company and the Other Members, successively, shall have the right—but not constitute a Default so long as any the obligation—to purchase all of such levy is being contested in good faith Member’s Units. The Company may elect to purchase all (but not less than all) of such Member’s Units by proper proceedings which stays the enforcement of the same; or (v) Fails giving written notice to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it such Member within a period of thirty (30) 30 days from after the date of entryreceipt of such notice from the subject Member. If the Company does not exercise its right to purchase all of such Member’s Units, the Other Members shall have the exclusive right during the period of 20 days next following such 30-day period to purchase (pro rata in accordance with their respective holdings of Units) all (but not less than all) of such Member’s Units by giving written notice to such Member. If the Other Members do not elect to purchase all such Units, any remaining Units may be allocated among the Other Members who have elected to purchase such Units pro rata in any eventaccordance with their respective holdings of Units, prior and such Other Members shall have 10 days following such 20-day period to elect to purchase such remaining Units. Any such notice shall specify the date of closing of the purchase of such Units, such date to be not more than 120 days after the date of such notice. An Offer under this Section 8.03(b) may not be made with respect to any action being taken Unit at any time while there is an option pending with respect to enforce the same.such Unit under Section 8.01 or Section 8.03(a), (c), (d), or (e)

Bankruptcy or Insolvency. Mortgagor The owner of the Property or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, partner or joint venturer of such owner or member of Mortgagor or such other person or entityperson): (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other federal, state or local law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”"DEBTOR RELIEF LAWS"), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty one hundred twenty (60120) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty ten (3010) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor The owner of the Property or any other person liable, directly or indirectly, for obligated to pay any part of the Secured Indebtedness (or any general partner, partner or joint venturer of such owner or member of Mortgagor or such other person or entityperson): (Ai) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (Bii) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (Ciii) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”)Law, or takes any action in furtherance thereof; or (Div) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii2) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (Ai) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (Bii) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (Ciii) in a proceeding under Debtor Relief LawsTitle 11 of the United States Code, the case is converted from one chapter to another, or (Div) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii3) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv4) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof of such lien and in any event within sixty (60) days from the date thereof; or (iv4) Fails to have discharged within a period of thirty ten (3010) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v5) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor The owner of the Property or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, partner or joint venturer of such owner or member of Mortgagor or such other person or entityperson): (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other federal, state or local law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty ninety (6090) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor The owner of the Mortgaged Property or any other person liable, directly or indirectly, for any of the Secured Indebtedness Obligations (or any guarantor, general partner, partner or joint venturer of such owner or member of Mortgagor or such other person or entityperson): (A1) (i) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (Bii) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (Ciii) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, : Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (Div) seeks the appointment of a receiver, trustee, custodian or liquidator of the Mortgaged Property or any part thereof or of any significant portion portion) of its other property; or (ii2) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Mortgaged Property or any part thereof or of any significant portion of its other property, and (Ai) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (Bii) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (Ciii) in a proceeding under Debtor Relief Lawsthe Federal Bankruptcy Code, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii3) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which causes or increases its insolvency or which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of or a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameproceedings.

Bankruptcy or Insolvency. Mortgagor The owner of the Mortgaged Property or any other person liable, directly or indirectly, for any of the Secured Indebtedness secured indebtedness (or any general partner, partner or joint venturer of such owner or member of Mortgagor or such other person or entityperson): (Ai) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (Bii) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (Ciii) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”"DEBTOR RELIEF LAWS"), or takes any action in furtherance thereof; or (Div) seeks the appointment of a receiver, trustee, custodian or liquidator of the Mortgaged Property or any part thereof or of any significant portion of its other property; or (ii2) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Mortgaged Property or any part thereof or of any significant portion of its other property, and (Ai) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (Bii) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (Ciii) in a proceeding under Debtor Relief Lawsthe Federal Bankruptcy Code, the case is converted from one chapter to another, or (Div) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii3) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) SUBPARAGRAPH [4] below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv4) Fails to have discharged within a period of thirty ten (3010) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the sameMortgaged Property; or (v5) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor or any other person liable, directly or indirectly, for any Any of the Secured Indebtedness following shall occur or exist: (or any general partner, joint venturer or member of Mortgagor or such other person or entity): (Aa) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, receiver trustee, custodian custodian, conservator, or liquidator of for Borrower, the Property Premises, or any part thereof other Property of Borrower and such appointment is not dismissed within sixty (60) days after such appointment; (b) a filing by Borrower of a voluntary petition in bankruptcy, or a petition seeking reorganization or rearrangement or taking advantage of any significant portion of its other propertydebtor relief laws; or (iic) Suffers the filing against Borrower of a petitionpetition in any bankruptcy, casereorganization, insolvency, conservatorship, receivership or similar proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and either (Ai) admits, acquiesces in or fails to contest diligently Borrower admits the material allegations thereof, or (B) acquiesces therein or fails to contest the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against itsame, or (Cii) in a proceeding under Debtor Relief Laws, the case petition or action is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently not dismissed or discharged on or before the earlier of trial thereon or within sixty (60) days next following the date of its filing; or (iiid) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer the entry of any order, judgment or decree by any court of its property which may be fraudulent under any bankruptcy, fraudulent conveyance competent jurisdiction adjudicating Borrower as bankrupt or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are and the same is not vacated and such lien discharged prior to enforcement thereof and in any event dismissed within sixty (60) days from after the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement filing of the same, or approving a petition seeking reorganization of Borrower or any arrangement of any of Borrower’s debts, including entry of any Order for Relief under Title 11 of the United States Code; or (ve) Fails an admission by Borrower in writing of its inability, or the failure by Borrower to pay immediately its debts as they become due; (f) the making by Borrower of a general assignment for the benefit of creditors; or to have bonded off to (g) the complete satisfaction liquidation, termination, or dissolution of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameBorrower.

Bankruptcy or Insolvency. Mortgagor A Credit Party or any other person ------------------------ liable, directly or indirectly, for any of the Secured Indebtedness (evidenced by the Notes and this Agreement, or any general partner, joint venturer Affiliate or member Subsidiary of Mortgagor or such other person or entity):a Credit Party: (Ai) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (Bii) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (Ciii) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”)Law, or takes any action in furtherance thereof; or (Div) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property any Collateral or any part thereof or of any significant portion of its other propertyProperty; or (ii2) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property Collateral or any part thereof or of any significant portion of its other propertyProperty, and (Ai) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (Bii) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (Ciii) in a proceeding under Debtor Relief Lawsthe Federal Bankruptcy Code, the case is converted from one chapter to another, or (Div) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii3) Conceals, removes, or permits to be concealed or removed, any part of its propertyProperty, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property Property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property Property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv4) below) upon any of its property Property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv4) Fails to have discharged within a period of thirty ten (3010) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the sameProperty; or (v5) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor Borrower: (a) does not pay its debts as they become due or any other person liable, directly admits in writing its inability to pay its debts or indirectly, for any of the Secured Indebtedness (or any makes a general partner, joint venturer or member of Mortgagor or such other person or entity): (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (Bb) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, commences any case, proceeding proceeding, or other action pursuant toseeking reorganization, arrangement, adjustment, liquidation, dissolution or voluntarily seeks the benefit or benefits of, Title 11 composition of the United States Code as now or hereafter in effect or its debts under any other law, domestic or foreign, as now or hereafter in effect law relating to bankruptcy, insolvency, liquidationreorganization, receivershipor relief or debtors; or (c) in any involuntary case, proceeding, or other action commenced against it which seeks to have an order for relief entered against it, as debtor, or seeks reorganization, arrangement, compositionadjustment, extension or adjustment of debtsliquidation, dissolution, or similar laws affecting the rights composition of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”)it or its debts under any law relating to bankruptcy, insolvency, reorganization, or takes any action in furtherance thereof; or relief of debtors, (Di) seeks the appointment fails to obtain a dismissal of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, casesuch cause, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or within sixty (60) days next following the date of its filing; or commencement, or (ii) converts the case from one chapter of the Federal Bankruptcy Code to another chapter, or (iii) Concealsis the subject of an order for relief; or (d) conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay delay, or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance conveyances, or similar law; , or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings proceeding which are is not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or or (ive) Fails has a trustee, receiver, custodian, or other similar official appointed for or take possession of all or any part of the Property or any of its property or has any court take jurisdiction of any other of its property which remains undissmissed or a period of sixty (60) days (except where a shorter period is specified in the immediately following paragraph (f)); or (f) fails to have discharged within a period of thirty ten (3010) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion property of its propertysuch person; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or or (vg) Fails fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the samesuch person.

Bankruptcy or Insolvency. Mortgagor The owner of the Property or any other person ------------------------ liable, directly or indirectly, for any of the Secured Indebtedness secured indebtedness (or any general partner, partner or joint venturer of such owner or member of Mortgagor or such other person or entityperson): (Ai) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (Bii) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (Ciii) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “"Debtor ------ Relief Laws”"), or takes any action in furtherance thereof; or (Div) ----------- seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii2) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (Ai) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (Bii) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (Ciii) in a proceeding under Debtor Relief Lawsthe Federal Bankruptcy Code, the case is converted from one chapter to another, or (Div) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii3) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv4) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv4) Fails to have discharged within a period of thirty ten (3010) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v5) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor Any Borrower or any other person liable, directly or indirectly, for any of the Secured Indebtedness Guarantor: (or any general partner, joint venturer or member of Mortgagor or such other person or entity): i) (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property Collateral or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law Laws or seeking appointment of a receiver, trustee, custodian or liquidator of the Property Collateral or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief LawsTitle 11 of the United States Code, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paidLaw; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof of such lien and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; providedproperty unless such attachment, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy sequestration or similar writ is being contested in good faith by proper proceedings which stays the enforcement accordance with Section 2.16 of the samethis Agreement; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee within thirty (30) days any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor or any other person liableBorrower, directly or indirectly, for any of the Secured Indebtedness (or any Borrower’s general partner, joint venturer or member of Mortgagor or such other person or entity):Guarantor: (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law Laws or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Lawsthe Title 11 of the United States Code, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paidLaw; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof of such lien and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; providedproperty unless such attachment, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy sequestration or similar writ is being contested in good faith by proper proceedings which stays the enforcement of the sameaccordance with Section 2.10 herein; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee within thirty (30) days any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor Borrower: (a) does not pay its debts as they become due or any other person liable, directly admits in writing its inability to pay its debts or indirectly, for any of the Secured Indebtedness (or any makes a general partner, joint venturer or member of Mortgagor or such other person or entity): (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (Bb) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, commences any case, proceeding proceeding, or other action pursuant toseeking reorganization, arrangement, adjustment, liquidation, dissolution or voluntarily seeks the benefit or benefits of, Title 11 composition of the United States Code as now or hereafter in effect or its debts under any other law, domestic or foreign, as now or hereafter in effect law relating to bankruptcy, insolvency, liquidationreorganization, receivershipor relief or debtors; or (c) in any involuntary case, proceeding, or other action commenced against it which seeks to have an order for relief entered against it, as debtor, or seeks reorganization, arrangement, compositionadjustment, extension or adjustment of debtsliquidation, dissolution, or similar laws affecting the rights composition of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”)it or its debts under any law relating to bankruptcy, insolvency, reorganization, or takes any action in furtherance thereof; or relief of debtors, (Di) seeks the appointment fails to obtain a dismissal of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, casesuch cause, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or within sixty (60) days next following the date of its filing; or commencement, or (ii) converts the case from one chapter of the Federal Bankruptcy Code to another chapter, or (iii) Concealsis the subject of an order for relief; or (d) conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay delay, or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance conveyances, or similar law; , or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings proceeding which are is not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or or (ive) Fails has a trustee, receiver, custodian, or other similar official appointed for or take possession of all or any part of the Property or any of its property or has any court take jurisdiction of any other of its property which remains undismissed or a period of sixty (60) days (except where a shorter period is specified in the immediately following paragraph (f)); or (f) fails to have discharged within a period of thirty ten (3010) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion property of its propertysuch person; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or or (vg) Fails fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the samesuch person.

Bankruptcy or Insolvency. Mortgagor The owner of the Property or any other person liable, directly or indirectly, ------------------------ liable for any of the Secured Indebtedness secured indebtedness (or any general partner, joint venturer partner of such owner or member of Mortgagor or such other person or entityperson): (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “"Debtor Relief ------------- Laws”"), or takes any action in furtherance thereof; or (D) seeks the appointment ---- of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Lawsthe Federal Bankruptcy Code, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately, or immediately or to have bonded off to the complete satisfaction of Mortgagee post a satisfactory bond against, any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor The owner of the Property or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, joint venturer or member of Mortgagor or such other person or entity): (i) (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other federal, state or local law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “"Debtor Relief Laws”"), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty sixty (3060) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee promptly any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor or any other person liable, directly or indirectly, for any Any of the Secured Indebtedness following shall occur or exist: (or any general partner, joint venturer or member of Mortgagor or such other person or entity): (Aa) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, receiver trustee, custodian custodian, conservator, or liquidator of for Borrower, the Property Premises, or any part thereof other Property of Borrower and such appointment is not dismissed within ninety (90) days after such appointment; (b) a filing by Xxxxxxxx of a voluntary petition in bankruptcy, or a petition seeking reorganization or rearrangement or taking advantage of any significant portion of its other propertydebtor relief laws; or (iic) Suffers the filing against Borrower of a petitionpetition in any bankruptcy, casereorganization, insolvency, conservatorship, receivership or similar proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and either (Ai) admits, acquiesces in or fails to contest diligently Borrower admits the material allegations thereof, or (B) acquiesces therein or fails to contest the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against itsame, or (Cii) in a proceeding under Debtor Relief Laws, the case petition or action is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently not dismissed or discharged on or before the earlier of trial thereon or sixty within ninety (6090) days next following the date of its filing; or (iiid) Concealsthe entry of any order, removesjudgment or decree by any court of competent jurisdiction adjudicating Borrower as bankrupt or insolvent, and the same is not dismissed within ninety (90) days after the filing of the same, or permits to be concealed or removed, any part approving a petition seeking reorganization of its property, with intent to hinder, delay or defraud its creditors Borrower or any of them, or makes or suffers a transfer arrangement of any of its property which may be fraudulent Borrower’s debts, including entry of any Order for Relief under any bankruptcy, fraudulent conveyance or similar lawTitle 11 of the United States Code; or makes any transfer (e) an admission by Borrower in writing of its property inability, or the failure by Borrower to or pay its debts as they become due; (f) the making by Xxxxxxxx of a general assignment for the benefit of a creditor at a time when other creditors similarly situated have not been paidcreditors; or suffers or permits(g) the liquidation, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, any attachment, sequestrationtermination, or similar writ levied upon any portion dissolution of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameBorrower.

Bankruptcy or Insolvency. Mortgagor The owner of the Property or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, partner or joint venturer of such owner or member of Mortgagor or such other person or entityperson): (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other federal, state or local law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “"Debtor Relief Laws”"), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty ninety (6090) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor The owner of the Property or any other person liable, directly or indirectly, for any of the Secured Indebtedness secured indebtedness (or any general partner, partner or joint venturer of such owner, if the owner is a general partnership or member of Mortgagor or such other person or entityjoint venture): (Ai) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (Bii) admits in writing its inability to pay, or fails to pay, its XXXXX/ORANGE COUNTY ASSOCIATES DEED OF TRUST PAGE 31 debts generally as they become due; or (Ciii) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “"Debtor Relief Laws”"), or takes any action in furtherance thereof; or (Div) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii2) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (Ai) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (Bii) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (Ciii) in a proceeding under Debtor Relief Lawsthe Federal Bankruptcy Code, the case is converted from one chapter to another, or (Div) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii3) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv4) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv4) Fails to have discharged within a period of thirty ten (3010) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v5) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the same.it. XXXXX/ORANGE COUNTY ASSOCIATES DEED OF TRUST PAGE 32

Bankruptcy or Insolvency. Mortgagor Partnership or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, joint venturer or member of Mortgagor or such other person or entitypartners): (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other federal, state or local law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “"Debtor Relief Laws”"), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty sixty (3060) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee promptly any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor Borrower or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, joint venturer or member of Mortgagor or such other person or entity):Subsidiary Guarantor: (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law Laws or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty one hundred twenty (60120) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be is fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty ten (3010) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the sameProperty; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the samefinal (unappealable) money judgment against it.

Bankruptcy or Insolvency. Mortgagor Borrower, BH Member, or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, joint venturer or member of Mortgagor or such other person or entity):Guarantor: (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law Laws or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Lawsthe Title 11 of the United States Code, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paidLaw; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof of such lien and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; providedproperty unless such attachment, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy sequestration or similar writ is being contested in good faith by proper proceedings which stays the enforcement of the sameaccordance with Section 3.9 herein; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee within thirty (30) days any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. The Mortgagor or any other person liable, directly or indirectly, for any owner of the Secured Indebtedness (or any general partner, joint venturer or member of Mortgagor or such other person or entity):Property: (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; thereof-, or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other federal, state or local law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “"Debtor Relief Laws”"), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty often (3010) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final and unappealable money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor or any other person liableEach Obligor hereby agrees that, directly or indirectly, for any in consideration of the Secured Indebtedness mutual covenants contained in this Agreement, and for other good and valuable consideration (including the Lender's forbearance as set forth herein), in the event any Obligor shall (0 file with any bankruptcy court of competent jurisdiction or be the subject of any general partner, joint venturer or member of Mortgagor or such other person or entity): (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, petition under Title 11 of the United States U.S. Code, as amended, (ii) be the subject of any order for relief issued under such Title 11 of the U.S. Code as now amended, (iii) file or hereafter in effect be the subject of any petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any other law, domestic present or foreign, as now future federal or hereafter in effect state act or law relating to bankruptcy, insolvency, liquidationor other relief for debtors, receivership(iv) have sought or consented to or acquiesced in the appointment of any trustee, receiver, conservator, or liquidator, or (v) be the subject of any order, judgment, or decree entered by any court of competent jurisdiction approving a petition filed against such party for reorganization, arrangement, composition, extension or adjustment of debtsreadjustment, liquidation, dissolution, or similar laws affecting relief under any present or future federal or state act or law relating to bankruptcy, insolvency, or relief for debtors, the rights Lender shall thereupon be entitled to relief from any automatic stay imposed by section 362 of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”)U.S. Code, as amended, or takes any action in furtherance thereof; otherwise, on or (D) seeks against the appointment of a receiver, trustee, custodian or liquidator exercise of the Property or rights and remedies otherwise available to the Lender as provided in the Loan Documents, as hereby amended, and otherwise provided by law and the Borrower shall not seek any part thereof or financing pursuant to Section 364 of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator Title 11 of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails U.S. Code which grants a lender a security interest senior to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence interests of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameLender.

Bankruptcy or Insolvency. Mortgagor The owner of the Property or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, member or joint venturer of such owner or member of Mortgagor or such other person or entityperson): (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other federal, state or local law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “"Debtor Relief Laws”"), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee promptly any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, joint venturer or member of Mortgagor or such other person or entity):Any Loan Party: (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of any Project in the Property Collateral Pool or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law Laws or seeking appointment of a receiver, trustee, custodian or liquidator of any Project in the Property Collateral Pool or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty one hundred twenty (60120) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be is fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty ten (3010) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that Project in the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the sameCollateral Pool; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the samefinal (unappealable) money judgment against it.

Bankruptcy or Insolvency. Mortgagor The owner of the Property or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, partner or joint venturer of such owner or member of Mortgagor or such other person or entityperson): (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other federal, state or local law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “"Debtor Relief Laws”"), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty ten (3010) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor The owner of the Property or any other person liable, directly or indirectly, for obligated to pay any part of the Secured Indebtedness (or any general partner, joint venturer or member of Mortgagor or such other person or entity):Indebtedness: (Aa) Executes an does not pay its debts as they become due or admits in writing its inability to pay its debts or makes a general assignment for the benefit of creditors; or (b) commences any case, proceeding, or takes any other action in furtherance thereof; or (B) admits in writing its inability to payseeking reorganization, arrangement, adjustment, liquidation, dissolution, or composition of it or its debts under any law relating to bankruptcy, insolvency, reorganization, or relief of debtors; or (c) in any involuntary case, proceeding, or other action commenced against it which seeks to have an order for relief entered against it, as debtor, or seeks reorganization, arrangement, adjustment, liquidation, dissolution, or composition of it or its debts under any law relating to bankruptcy, insolvency, reorganization, or relief of debtors, (i) fails to pay, its debts generally as they become due; or (C) as obtain a debtor, files a petition, dismissal of such case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “Debtor Relief Laws”), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or within sixty (60) days next following the date of its filingcommencement, or (ii) converts the case from one chapter of the Federal Bankruptcy Code to another chapter, or (iii) is the subject of an order for relief; or (iiid) Concealsconceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay delay, or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance conveyance, or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are is not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (ive) Fails has a trustee, receiver, custodian, or other similar official appointed for or take possession of all or any part of the Property or any other of its property or has any court take jurisdiction of any other of its property which remains in place for a period of sixty (60) days (except where a shorter period is specified in the immediately following paragraph (f)); or (f) fails to have discharged within a period of thirty ten (3010) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion property of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the sameperson; or (vg) Fails fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the samesuch person.

Bankruptcy or Insolvency. Mortgagor or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, joint venturer or member of Mortgagor or such other person or entity):Maker: (Ai) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (Bii) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (Ciii) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, suspension of payments, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “"Debtor Relief Laws”"), or takes any action in furtherance thereofthereof or in preparation therefor; or (Div) seeks the appointment of a receiver, trustee, custodian or liquidator of any of the Property property now or hereafter encumbered as security for this Note or for any part thereof other indebtedness now or of any significant portion of its other propertyhereafter owing by Maker to Payee; or (iib) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of any of the Property property now or hereafter encumbered as security for this Note or any part thereof or of any significant portion of its other propertythereof, and (Ai) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (Bii) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (Ciii) in a proceeding under Debtor Relief Lawsthe Federal Bankruptcy Code, the case is converted from one chapter to another, or (Div) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the same.

Bankruptcy or Insolvency. Mortgagor The owner of the Property or any other person liable, directly or indirectly, for any of the Secured Indebtedness secured indebtedness (or any general partner, partner or joint venturer of such owner, if the owner is a general partnership or member of Mortgagor or such other person or entityjoint venture): (Ai) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (Bii) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (Ciii) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other XXXXX/FREMONT ASSOCIATES DEED OF TRUST PAGE 31 law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “"Debtor Relief Laws”"), or takes any action in furtherance thereof; or (Div) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii2) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (Ai) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (Bii) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (Ciii) in a proceeding under Debtor Relief Lawsthe Federal Bankruptcy Code, the case is converted from one chapter to another, or (Div) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii3) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv4) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv4) Fails to have discharged within a period of thirty ten (3010) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v5) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.

Bankruptcy or Insolvency. Mortgagor The owner of the Mortgaged Property or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any general partner, partner or joint venturer of such owner or member of Mortgagor or such other person or entityperson): (Ai) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (Bii) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (Ciii) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “"Debtor Relief Laws”"), or takes any action in furtherance thereof; or (Div) seeks the appointment of a receiver, trustee, custodian or liquidator of the Mortgaged Property or any part thereof or of any significant portion of its other property; or (ii2) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Mortgaged Property or any part thereof or of any significant portion of its other property, and (Ai) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (Bii) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (Ciii) in a proceeding under Debtor Relief Lawsthe Federal Bankruptcy Code, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii3) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty (30) days, but in any event prior to sale, seizure or transfer of title, any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameproceedings.

Bankruptcy or Insolvency. Mortgagor The owner of the Property or any other person liable, directly or indirectly, for any of the Secured Indebtedness (or any a general partner, joint venturer or member of Mortgagor or such other person or entity): (i) (A) Executes an assignment for the benefit of creditors, or takes any action in furtherance thereof; or (B) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; or (C) as a debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of, Title 11 of the United States Code as now or hereafter in effect or any other federal, state or local law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United States Code and such other laws being herein called “"Debtor Relief Laws”"), or takes any action in furtherance thereof; or (D) seeks the appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property; or (ii) Suffers the filing of a petition, case, proceeding or other action against it as a debtor under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Property or any part thereof or of any significant portion of its other property, and (A) admits, acquiesces in or fails to contest diligently the material allegations thereof, or (B) the petition, case, proceeding or other action results in entry of any order for relief or order granting relief sought against it, or (C) in a proceeding under Debtor Relief Laws, the case is converted from one chapter to another, or (D) fails to have the petition, case, proceeding or other action permanently dismissed or discharged on or before the earlier of trial thereon or sixty (60) days next following the date of its filing; or (iii) Conceals, removes, or permits to be concealed or removed, any part of its property, with intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or makes any transfer of its property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien (other than as described in subparagraph (iv) below) upon any of its property through legal proceedings which are not vacated and such lien discharged prior to enforcement thereof and in any event within sixty (60) days from the date thereof; or (iv) Fails to have discharged within a period of thirty sixty (3060) days, but in any event prior to sale, seizure or transfer of title, days any attachment, sequestration, or similar writ levied upon any portion of its property; provided, however, that the occurrence of the foregoing shall not constitute a Default so long as any such levy is being contested in good faith by proper proceedings which stays the enforcement of the same; or (v) Fails to pay immediately or to have bonded off to the complete satisfaction of Mortgagee promptly any final money judgment against it within a period of thirty (30) days from the date of entry, but in any event, prior to any action being taken to enforce the sameit.