Common use of Default and Remedies Upon Default Clause in Contracts

Default and Remedies Upon Default. 8.1 The occurrence of any of the following shall constitute an Event of Default hereunder: (a) If the Borrower shall fail to pay when due any of the Liabilities; (b) If any warranty or representation made by or for the Borrower or if any financial data or any other information now or hereafter furnished to Standard Federal by or on behalf of the Borrower shall prove to be false, inaccurate or misleading in any material respect; (c) If an event of default shall occur under any promissory note secured hereby or if the Borrower shall fail to perform any obligation or covenant hereunder, or shall fail to comply with any of the provisions of any loan agreement or other agreement with Standard Federal, (d) If the Borrower or any other party liable on any of the Liabilities: (i) shall voluntarily suspend transaction of its business, (ii) shall make a general assignment for the benefit of creditors, (iii) shall file a voluntary petition in bankruptcy or for a reorganization to effect a plan or other arrangement with creditors, or shall file an answer to a creditor's petition or other petition for relief in bankruptcy or for a reorganization which answer admits the material allegations thereof, or if any order for relief shall be entered by any court of bankruptcy jurisdiction with respect to it or shall have instituted against it bankruptcy, reorganization or liquidation proceedings which remain undismissed for 60 days, (iv) shall have entered against it any order by any court approving a plan of reorganization or any other plan or arrangement with creditors, (v) shall apply for or permit the appointment of a receiver, trustee or custodian for any substantial portion of its assets, or (vi) shall become unable to meet its debts as they mature or insolvent;

Default and Remedies Upon Default. 8.1 The occurrence SECTION 14.1 If Lessee shall default in the payment of the rent or any part thereof when due as herein provided, and such default shall continue for ten (10) days after notice thereof in writing to Lessee, or if default shall be made in any of the following other covenants, agreements, conditions or undertakings herein contained to be kept, observed and performed by Lessee, and such default shall constitute an Event continue for thirty (30) days after notice thereof in writing to Lessee, or if Lessee shall abandon the Premises, then and in any such event it shall be lawful for Lessor, at its election to declare the term ended and to take appropriate legal action to re-enter and regain possession of Default hereunderthe Premises. If default shall be made in any covenant, agreement, condition or undertaking herein contained to be kept, observed and performed by Lessee, other than the payment of rent as herein provided, which cannot with due diligence be cured within a period of thirty (30) days, and if notice thereof in writing shall have been given to Lessee, and if Lessee prior to the expiration of thirty (30) days from and after the giving of such notice commences to eliminate the cause of such default and proceeds diligently and with reasonable dispatch to take all steps and do all work required to cure such default and does so cure such default, then Lessor shall not have the right to declare the said term ended by reason of such default; provided, however, that the curing of any default in such manner shall not be construed to limit or reduce the right of Lessor to declare said term ended and enforce all of its rights and remedies hereunder for any default not so cured. SECTION 14.2 If a default occurs and is not cured within the time permitted herein, Lessor shall have the rights and remedies hereinafter set forth, which shall be distinct, separate and cumulative with and in addition to any other right or remedy allowed under any law or other provisions of this Sublease: (a) If Lessor may terminate this Sublease, repossess the Borrower shall fail Premises by detainer suit or other lawful means, and recover as damages a sum of money equal to pay when due (a) any unpaid rent as of the Liabilities; termination date including interest accruing from the due date thereof at the rate of twelve percent (12%) per annum, (b) If any warranty or representation made by or for unpaid rent which would have accrued after the Borrower or if any financial data or any other information now or hereafter furnished to Standard Federal by or on behalf termination date through the time of award including interest accruing from the Borrower shall prove to be falsedue date thereof at the rate of twelve percent (12%) per annum, inaccurate or misleading in any material respect; (c) If an event any unpaid rent which would have accrued after the time of default shall occur under award during the balance of the term discounted to the present value of such amount, and (d) any promissory note secured hereby other amounts necessary to compensate Lessor for all detriment or if the Borrower shall fail damages proximately caused by Lessee's failure to perform any obligation its obligations under this Sublease including, without limitation, Lessor's costs of reletting. If applicable law shall require that the amount of unpaid rent recoverable hereunder be modified to reflect the "worth at the time of award," computed by allowing or covenant hereunderdiscounting interest at specified rates, or the "reasonable value" of the rent claimed, or shall fail to comply require any other specific modification of the foregoing provisions, such law shall govern and control. (b) Lessor shall at all times have the rights and remedies (which shall be cumulative with any other rights of the provisions of Lessor hereunder or under any loan agreement or other agreement with Standard Federal, (d) If the Borrower or any other party liable on any of the Liabilities: law): (i) shall voluntarily suspend transaction to seek any declaratory, injunctive or other equitable relief and specifically enforce this Sublease or restrain or enjoin a violation or breach of its business, any provision hereof and (ii) shall make a general assignment to sue xxx and collect any unpaid rent. Such rights may be exercised at any time and from time to time. Notwithstanding anything to the contrary contained in this Sublease, to the extent not expressly prohibited by applicable law, in the event of any default by Lessee not cured within any applicable time for cure hereunder, Lessor may terminate this Sublease and accelerate and declare that all rent reserved for the benefit remainder of creditors, (iii) shall file a voluntary petition in bankruptcy or for a reorganization to effect a plan or other arrangement with creditors, or shall file an answer to a creditor's petition or other petition for relief in bankruptcy or for a reorganization which answer admits the material allegations thereof, or if any order for relief term shall be entered by any court of bankruptcy jurisdiction with respect to it or shall have instituted against it bankruptcyimmediately due and payable; provided, reorganization or liquidation proceedings which remain undismissed for 60 daysLessor shall, (iv) shall have entered against it any order by any court approving a plan of reorganization or any other plan or arrangement with creditors, (v) shall apply for or permit the appointment of a receiver, trustee or custodian for any substantial portion of its assets, or (vi) shall become unable to meet its debts as they mature or insolvent;after receiving

Default and Remedies Upon Default. 8.1 The occurrence SECTION 14.1 If Lessee shall default in the payment of the rent or any part thereof when due as herein provided, and such default shall continue for ten (10) days after notice thereof in writing to Lessee, or if default shall be made in any of the following other covenants, agreements, conditions or undertakings herein contained to be kept, observed and performed by Lessee, and such default shall constitute an Event continue for thirty (30) days after notice thereof in writing to Lessee, or if Lessee shall abandon the Premises, then and in any such event it shall be lawful for Lessor, at its election to declare the term ended and to take appropriate legal action to re-enter and regain possession of Default hereunderthe Premises. If default shall be made in any covenant, agreement, condition or undertaking herein contained to be kept, observed and performed by Lessee, other than the payment of rent as herein provided, which cannot with due diligence be cured within a period of thirty (30) days, and if notice thereof in writing shall have been given to Lessee, and if Lessee prior to the expiration of thirty (30) days from and after the giving of such notice commences to eliminate the cause of such default and proceeds diligently and with reasonable dispatch to take all steps and do all work required to cure such default and does so cure such default, then Lessor shall not have the right to declare the said term ended by reason of such default; provided, however, that the curing of any default in such manner shall not be construed to limit or reduce the right of Lessor to declare said term ended and enforce all of its rights and remedies hereunder for any default not so cured. SECTION 14.2 If a default occurs and is not cured within the time permitted herein, Lessor shall have the rights and remedies hereinafter set forth, which shall be distinct, separate and cumulative with and in addition to any other right or remedy allowed under any law or other provisions of this Sublease: (a) Lessor may terminate this Sublease, repossess the Premises by detainer suit or other lawful means, and recover as damages a sum of money equal to (a) any unpaid rent as of the termination date including interest accruing from the due date thereof at the rate of twelve percent (12%) per annum, (b) any unpaid rent which would have accrued after the termination date through the time of award including interest accruing from the due date thereof at the rate of twelve percent (12%) per annum, (c) any unpaid rent which would have accrued after the time of award during the balance of the term discounted to the present value of such amount, and (d) any other amounts necessary to compensate Lessor for all detriment or damages proximately caused by Lessee's failure to perform its obligations under this Sublease including, without limitation, Lessor's costs of reletting. If applicable law shall require that the Borrower amount of unpaid rent recoverable hereunder be modified to reflect the "worth at the time of award," computed by allowing or discounting interest at specified rates, or the "reasonable value" of the rent claimed, or shall fail require any other specific modification of the foregoing provisions, such law shall govern and control. (b) Lessor shall at all times have the rights and remedies (which shall be cumulative with any other rights of Lessor hereunder or under any law): (i) to pay when seek any declaratory, injunctive or other equitable re- lief and specifically enforce this Sublease or restrain or enjoin a violation or breach of any provision hereof and (ii) to sue xxx and collect any unpaid rent. Such rights may be exercised at any time and from time to time. Notwithstanding anything to the contrary contained in this Sublease, to the extent not expressly prohibited by applicable law, in the event of any default by Lessee not cured within any applicable time for cure hereunder, Lessor may terminate this Sublease and accelerate and declare that all rent reserved for the remainder of the term shall be immediately due and payable; provided, Lessor shall, after receiving payment of the same from Lessee, be obligated to turn over to Lessee any actual net reletting proceeds thereafter received during the remainder of the term, up to the amount so received from Lessee pursuant to this provision. (c) No re-entry or repossession, repairs, changes, alterations and additional reletting, acceptance of keys from Lessee, or any other action or omission by Lessor shall be construed as an election by Lessor to terminate this Sublease or accept a surrender of the Premises, nor shall the same operate to release the Lessee in whole or in part from any of the Liabilities; (b) If any warranty Lessee's obligations hereunder, unless express written notice of such intention is sent by Lessor or representation made by or its agent to Lessee. The times set forth herein for the Borrower or if any financial data or any other information now or hereafter furnished to Standard Federal curing of defaults by or on behalf Lessee are of the Borrower shall prove to be false, inaccurate or misleading in essence of this Sublease. Lessee hereby irrevocably waives any material respect; (c) If an event of default shall occur right otherwise available under any promissory note secured hereby law to redeem or if the Borrower shall fail to perform any obligation or covenant hereunder, or shall fail to comply with any of the provisions of any loan agreement or other agreement with Standard Federal, (d) If the Borrower or any other party liable on any of the Liabilities: (i) shall voluntarily suspend transaction of its business, (ii) shall make a general assignment for the benefit of creditors, (iii) shall file a voluntary petition in bankruptcy or for a reorganization to effect a plan or other arrangement with creditors, or shall file an answer to a creditor's petition or other petition for relief in bankruptcy or for a reorganization which answer admits the material allegations thereof, or if any order for relief shall be entered by any court of bankruptcy jurisdiction with respect to it or shall have instituted against it bankruptcy, reorganization or liquidation proceedings which remain undismissed for 60 days, (iv) shall have entered against it any order by any court approving a plan of reorganization or any other plan or arrangement with creditors, (v) shall apply for or permit the appointment of a receiver, trustee or custodian for any substantial portion of its assets, or (vi) shall become unable to meet its debts as they mature or insolvent;reinstate this Sublease.

Default and Remedies Upon Default. 8.1 The 11.01 Any one or more of the following events shall constitute a default by the Occupant under the terms of this Agreement: (a) the Occupant shall fail to pay any of the band unit insurance and maintenance fees or other fees or expenses payable by the Occupant under the terms of this Agreement when due, and such failure shall continue unremedied thirty (30) calendar days after notice thereof has been given by the Band to the Occupant to cure such default; (b) the Occupant shall fail to observe any term, provision or covenant under this Agreement on the part of the Occupant to be performed, and such failure shall continue unremedied for ten (10) calendar days after notice thereof has been given by the Band to the Occupant to cure such default; or (c) the Occupant should abandon the Premises for thirty (30) calendar days or more without notifying the Band. 11.02 Upon the occurrence of any of the events of default the Band may, at its option, exercise any or all of the following shall constitute an Event of Default hereunderremedies: (a) If the Borrower band may make such payments or take such actions as it may consider necessary to remedy the default and upon demand recover such payments from the Occupant together with any other amounts as may be due and payable under this Agreement. Any costs incurred by the Band in taking such action to remedy the default shall fail to pay when due any of be payable by the Liabilities; Occupant and shall be considered as additional fees payable and recoverable from the Occupant; (b) If any warranty enter upon and take possession of the Premises without demand or representation made by notice and thereafter possess and enjoy the Premises as though this Agreement had not been made, or for lease or otherwise dispose of the Borrower Premises upon such terms and conditions as the Band may deem appropriate. No acceptance of band unit insurance and maintenance fees or if any financial data or the payment of any other information now fees or hereafter furnished expenses payable by the Occupant subsequent to Standard Federal any breach or default, nor any condoning, excusing or overlooking by the Band on previous occasions of any breach or on behalf default similar to that for which re-entry is made shall be taken to operate as a waiver of this condition or in any way defeat or affect the rights of the Borrower shall prove to be false, inaccurate or misleading in any material respect; Band herein; (c) If an event of default shall occur under withdraw all or any promissory note secured hereby or if the Borrower shall fail to perform any obligation or covenant hereunder, or shall fail to comply with any portion of the provisions of any loan agreement or other agreement with Standard Federal, services to be provided by the Band to the Premises; and (d) If the Borrower or exercise any other party liable on any of rights or remedies it may have in law against the Liabilities: (i) shall voluntarily suspend transaction of its business, (ii) shall make a general assignment for the benefit of creditors, (iii) shall file a voluntary petition in bankruptcy or for a reorganization to effect a plan or other arrangement with creditors, or shall file an answer to a creditor's petition or other petition for relief in bankruptcy or for a reorganization which answer admits the material allegations thereof, or if any order for relief shall be entered by any court of bankruptcy jurisdiction with respect to it or shall have instituted against it bankruptcy, reorganization or liquidation proceedings which remain undismissed for 60 days, (iv) shall have entered against it any order by any court approving a plan of reorganization or any other plan or arrangement with creditors, (v) shall apply for or permit the appointment of a receiver, trustee or custodian for any substantial portion of its assets, or (vi) shall become unable to meet its debts as they mature or insolvent;Occupant.

Default and Remedies Upon Default. 8.1 The occurrence Any of the following events will constitute an “Event of Default” under the Agreement: (1) non–payment of any amounts due hereunder to Bankline by Customer; (2) non–performance of any of Customer’s or Bankline’s other material obligations hereunder; (3) if any representation or warranty of Customer or Bankline is materially breached; (4) if Customer or Bankline files a petition for bankruptcy or becomes the following shall constitute subject of an involuntary bankruptcy petition which is not vacated within thirty (30) days of filing, or becomes insolvent; or (5) if any substantial part of Customer’s or Banklines’ property becomes subject to any levy, seizure, assignment, application or sale for or by any creditor or governmental agency. Upon occurrence of an Event of Default hereunder: under the Agreement, the non–defaulting party may, at its option, terminate the Agreement provided at least (a60) If days (or longer period as may be required by the Borrower applicable regulatory authorities) prior written notice has been given to the other and such default has not been cured within such period. Upon such termination by Bankline, Bankline may declare all amounts due and to become due hereunder immediately due and payable. The remedies contained in this paragraph are cumulative and in additional to all other rights and remedies available to the parties under this Agreement or by operation of law or otherwise. ARBITRATION Bankline and Customer agree that all disputes arising out of, in connection with or relating to this Agreement shall fail be submitted to pay when due any final and binding arbitration pursuant to the United States Arbitration Act and the rules of the Liabilities; American Arbitration Association then in effect. Judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. Arbitrations conducted in accordance with this Paragraph shall be conducted by a single arbitrator selected by the parties from (b1) If any warranty or representation made by or a list of (3) knowledgeable individuals eligible to serve as arbitrator for the Borrower dispute submitted by the person filing a demand for arbitration, or (2) if any financial data or any the other information now or hereafter furnished to Standard Federal by or on behalf party so requests, a master list composed of the Borrower potential arbitrators suggested by the party demanding arbitration and a list of (3) knowledgeable individuals eligible to serve as arbitrator submitted by the other party. Each party shall prove be entitled to be falserepresented by counsel in the arbitration. Bankline and Customer agree that based upon a final decision of the arbitrator, inaccurate or misleading the prevailing party can seek reimbursement for its costs and reasonable attorneys’ fees in any material respect; (c) If an event of default shall occur under any promissory note secured hereby or if the Borrower shall fail to perform any obligation or covenant hereunder, or shall fail to comply connection with any of claim brought hereunder. Except as otherwise agreed by Bankline and Customer, the provisions of this Agreement shall remain in full force and effect pending resolution of any loan agreement or other agreement with Standard Federal, (d) If the Borrower or any other party liable on any of the Liabilities: (i) shall voluntarily suspend transaction of its business, (ii) shall make a general assignment for the benefit of creditors, (iii) shall file a voluntary petition in bankruptcy or for a reorganization dispute pursuant to effect a plan or other arrangement with creditors, or shall file an answer to a creditor's petition or other petition for relief in bankruptcy or for a reorganization which answer admits the material allegations thereof, or if any order for relief shall be entered by any court of bankruptcy jurisdiction with respect to it or shall have instituted against it bankruptcy, reorganization or liquidation proceedings which remain undismissed for 60 days, (iv) shall have entered against it any order by any court approving a plan of reorganization or any other plan or arrangement with creditors, (v) shall apply for or permit the appointment of a receiver, trustee or custodian for any substantial portion of its assets, or (vi) shall become unable to meet its debts as they mature or insolvent;arbitration. OTHER ADDENDA

Default and Remedies Upon Default. 8.1 The occurrence 158 (a) Any one or more of the following shall be deemed an "Event of Default" under this Agreement: (i) a default occurs under the Note; (ii) Grantors default under this Agreement; (iii) the Debtor distributes any of its assets by reason of sale, reorganization, liquidation or dissolution without the written consent of Secured Party; (iv) the Debtor sells a substantial portion or a bulk sale of its assets without the written consent of Secured Party; (v) an execution is issued upon the Collateral or any of the assets of the Debtor; (vi) a receiver is appointed to take charge of any of the following shall constitute an Event Grantors' or the Debtor's property; (vii) Debtor ceases to exist or becomes a party to any merger or consolidation without the written consent of Default hereunder: Secured Party; or (aviii) If the Borrower shall fail to pay when due any of the Liabilities; (b) If representations or warranties made herein are, in any warranty or representation made by or for the Borrower or if any financial data or any other information now or hereafter furnished to Standard Federal by or on behalf of the Borrower shall prove to be falsemanner, inaccurate false or misleading in any material respect; respect as and when made. (cb) If Upon the occurrence of an event Event of default Default, Secured Party shall occur under any promissory note secured hereby or if the Borrower shall fail be entitled to perform any obligation or covenant hereunder, or shall fail to comply with any exercise all of the provisions of any loan agreement or other agreement with Standard Federal, (d) If rights and remedies available to a secured party under the Borrower or any other party liable on any California Commercial Code and all of the Liabilities: rights and remedies available to it under the Note, including, without limitation, the right, following legal process (i) shall voluntarily suspend transaction to vote the Debtor Membership Interests and receive any distributions of its businesscash or other property made by the Debtor and otherwise take any action permitted to be taken as a result of owning the Debtor Membership Interests, (ii) shall make a general assignment for to enter upon the benefit premises of creditorsDebtor and take possession of the Collateral and the books and records of Debtor relating to the Collateral and the Debtor, (iii) shall file a voluntary petition in bankruptcy to require Debtor to assemble and deliver the Collateral to Secured Party and/or (iv) to sell, transfer, endorse, assign and/or deliver the whole or, from time to time, any part of the Collateral at public or private sale, for cash, upon credit or for other property, for immediate or future delivery, for such prices and on such terms as Secured Party in its sole discretion shall deem appropriate. (c) Secured Party shall give Grantors written notice, within the meaning of Article 9 of the California Commercial Code, of Secured Party's intention to sell the Collateral at a reorganization public or private sale. Secured Party shall not be obligated to effect a plan sell the Collateral even if notice of the sale of the Collateral has been given. At any sale made pursuant to this Section 4, Secured Party may bid for or other arrangement with creditorspurchase, free from any right of redemption after any such sale, stay and appraisal on the part of Grantors (to the extent permitted by law), all said rights being hereby waived and released to the extent permitted by law, all or any portion of the Collateral offered for sale and may make payment on account thereof by using the obligations under the Note, or shall file an answer to a creditor's petition or other petition for relief in bankruptcy or for a reorganization which answer admits the material allegations any portion thereof, then due and payable as a credit against the purchase price, and Secured Party may, upon compliance with the terms of the sale, hold, retain and dispose of the Collateral without further accountability to Grantors therefor. (d) Upon the occurrence of an Event of Default, or if in the event that a petition is filed by or against Grantors or the Debtor under any provision of Title 11 of the United States Code (the "Bankruptcy Code"), or in the event there is any entry of an order for relief shall be entered by any court respecting either Grantors or the Debtor, or in the event of bankruptcy jurisdiction with respect to it or shall have instituted against it bankruptcy, reorganization or liquidation proceedings which remain undismissed for 60 days, (iv) shall have entered against it any order by any court approving a plan of reorganization or any other plan or arrangement with creditors, (v) shall apply for or permit the appointment of a receiver, trustee or custodian for any substantial portion of its assetseither Grantors or the Debtor, or in the event either Grantors or the Debtor becomes a debtor in possession, which actions in and of themselves do not constitute a default pursuant to the provisions of the Bankruptcy Code, Grantor's successors in interest, or any other party succeeding to Grantor's interest, shall not under any circumstances sell or in any way dispose of the Collateral without the prior written consent of Secured Party which may demand (vii) the immediate return of the Collateral in the possession of Grantors or their successors in interest or (ii) an immediate cash payment of all of the unpaid obligations under the Note. The option to accept the return of the Collateral and proceeds shall become unable in no way relieve Debtor or its successors in interest of any deficiency respecting the obligations under the Note. Grantors agree to meet its debts as they mature or insolvent;pay to Secured Party and be liable for all reasonable costs, expenses, charges and attorneys' fees (if and to the extent permitted by law) incurred by Secured Party to enforce this Agreement.

Default and Remedies Upon Default. 8.1 The occurrence (a) Any one or more of the following shall be deemed an "Event of Default" under this Agreement: (i) a default occurs under the Note; (ii) Grantors default under this Agreement; (iii) the Debtor distributes any of its assets by reason of sale, reorganization, liquidation or dissolution without the written consent of Secured Party; (iv) the Debtor sells a substantial portion or a bulk sale of its assets without the written consent of Secured Party; (v) an execution is issued upon the Collateral or any of the assets of the Debtor, (vi) a receiver is appointed to take charge of any of the following shall constitute an Event Grantors' or the Debtor's property; (vii) Debtor ceases to exist or becomes a party to any merger or consolidation without the written consent of Default hereunder: Secured Party; or (aviii) If the Borrower shall fail to pay when due any of the Liabilities; (b) If representations or warranties made herein are, in any warranty or representation made by or for the Borrower or if any financial data or any other information now or hereafter furnished to Standard Federal by or on behalf of the Borrower shall prove to be falsemanner, inaccurate false or misleading in any material respect; respect as and when made. (cb) If Upon the occurrence of an event Event of default Default, Secured Party shall occur under any promissory note secured hereby or if the Borrower shall fail be entitled to perform any obligation or covenant hereunder, or shall fail to comply with any exercise all of the provisions of any loan agreement or other agreement with Standard Federal, (d) If rights and remedies available to a secured party under the Borrower or any other party liable on any California Commercial Code and all of the Liabilities: rights and remedies available to it under the Note, including, without limitation, the right (i) shall voluntarily suspend transaction without notice, demand or legal process to vote the Membership Interests and receive any distributions of its businesscash or other property made by the Debtor and otherwise take any action permitted to be taken as a result of owning the Membership Interest, (ii) shall make a general assignment for to enter upon the benefit premises of creditorsDebtor and take possession of the Collateral and the books and records of Debtor relating to the Collateral and the Debtor, (iii) shall file a voluntary petition in bankruptcy to require Debtor to make the Collateral available to Secured Party and/or (iv) to sell, transfer, endorse, assign and/or deliver the whole or, from time to time, any part of the Collateral at public or private sale, for cash, upon credit or for other property, for immediate or future delivery, for such prices and on such terms as Secured Party in its sole discretion shall deem appropriate. (c) Secured Party shall give Grantors written notice, within the meaning of Article 9 of the California Commercial Code, of Secured Party's intention to sell the Collateral at a reorganization public or private sale. Secured Party shall not be obligated to effect a plan sell the Collateral even if notice of the sale of the Collateral has been given. At any sale made pursuant to this Section 4, Secured Party may bid for or other arrangement with creditorspurchase, free from any right of redemption after any such sale, stay and appraisal on the part of Grantors (to the extent permitted by law), all said rights being hereby waived and released to the extent permitted by law, all or any portion of the Collateral offered for sale and may make payment on account thereof by using the obligations under the Note, or shall file an answer to a creditor's petition or other petition for relief in bankruptcy or for a reorganization which answer admits the material allegations any portion thereof, then due and payable as a credit against the purchase price, and Secured Party may, upon compliance with the terms of the sale, hold, retain and dispose of the Collateral without further accountability to Grantors therefor. (d) Upon the occurrence of an Event of Default, or if in the event that a petition is filed by or against Grantors or the Debtor under any provision of Title II of the United States Code (the "Bankruptcy Code"), or in the event there is any entry of an order for relief shall be entered by any court respecting either Grantors or the Debtor, or in the event of bankruptcy jurisdiction with respect to it or shall have instituted against it bankruptcy, reorganization or liquidation proceedings which remain undismissed for 60 days, (iv) shall have entered against it any order by any court approving a plan of reorganization or any other plan or arrangement with creditors, (v) shall apply for or permit the appointment of a receiver, trustee or custodian for any substantial portion of its assetseither Grantors or the Debtor, or in the event either Grantors or the Debtor becomes a debtor in possession, which actions in and of themselves do not constitute a default pursuant to the provisions of the Bankruptcy Code, Grantor's successors in interest, or any other party succeeding to Grantor's interest, shall not under any circumstances sell or in any way dispose of the Collateral without the prior written consent of Secured Party which may demand (vii) the immediate return of the Collateral in the possession of Grantors or their successors in interest or (ii) an immediate cash payment of all of the unpaid obligations under the Note. The option to accept the return of the Collateral and proceeds shall become unable in no way relieve Debtor or its successors in interest of any deficiency respecting the obligations under the Note. Grantors agree to meet its debts as they mature or insolvent;pay to Secured Party and be liable for all reasonable costs, expenses, charges and attorneys' fees (if and to the extent permitted by law) incurred by Secured Party to enforce this Agreement.

Default and Remedies Upon Default. 8.1 The occurrence SECTION 14.1 If Lessee shall default in the payment of the rent or any part thereof when due as herein provided, and such default shall continue for ten (10) days after notice thereof in writing to Lessee, or if default shall be made in any of the following other covenants, agreements, conditions or undertakings herein contained to be kept, observed and performed by Lessee, and such default shall constitute an Event continue for thirty (30) days after notice thereof in writing to Lessee, or if Lessee shall abandon the Premises, then and in any such event it shall be lawful for Lessor, at its election to declare the term ended and to take appropriate legal action to re-enter and regain possession of Default hereunderthe Premises. If default shall be made in any covenant, agreement, condition or undertaking herein contained to be kept, observed and performed by Lessee, other than the payment of rent as herein provided, which cannot with due diligence be cured within a period of thirty (30) days, and if notice thereof in writing shall have been given to Lessee, and if Lessee prior to the expiration of thirty (30) days from and after the giving of such notice commences to eliminate the cause of such default and proceeds diligently and with reasonable dispatch to take all steps and do all work required to cure such default and does so cure such default, then Lessor shall not have the right to declare the said term ended by reason of such default; provided, however, that the curing of any default in such manner shall not be construed to limit or reduce the right of Lessor to declare said term ended and enforce all of its rights and remedies hereunder for any default not so cured. SECTION 14.2 If a default occurs and is not cured within the time permitted herein, Lessor shall have the rights and remedies hereinafter set forth, which shall be distinct, separate and cumulative with and in addition to any other right or remedy allowed under any law or other provisions of this Sublease: (a) If Lessor may terminate this Sublease, repossess the Borrower shall fail Premises by detainer suit or other lawful means, and recover as damages a sum of money equal to pay when due (a) any unpaid rent as of the Liabilities; termination date including interest accruing from the due date thereof at the rate of twelve percent (12%) per annum, (b) If any warranty or representation made by or for unpaid rent which would have accrued after the Borrower or if any financial data or any other information now or hereafter furnished to Standard Federal by or on behalf termination date through the time of award including interest accruing from the Borrower shall prove to be falsedue date thereof at the rate of twelve percent (12%) per annum, inaccurate or misleading in any material respect; (c) If an event any unpaid rent which would have accrued after the time of default shall occur under award during the balance of the term discounted to the present value of such amount, and (d) any promissory note secured hereby other amounts necessary to compensate Lessor for all detriment or if the Borrower shall fail damages proximately caused by Lessee's failure to perform any obligation its obligations under this Sublease including, without limitation, Lessor's costs of reletting. If applicable law shall require that the amount of unpaid rent recoverable hereunder be modified to reflect the "worth at the time of award," computed by allowing or covenant hereunderdiscounting interest at specified rates, or the "reasonable value" of the rent claimed, or shall fail to comply require any other specific modification of the foregoing provisions, such law shall govern and control. (b) Lessor shall at all times have the rights and remedies (which shall be cumulative with any other rights of the provisions of Lessor hereunder or under any loan agreement or other agreement with Standard Federal, (d) If the Borrower or any other party liable on any of the Liabilities: law): (i) shall voluntarily suspend transaction of its businessto seek any declaratory, (ii) shall make a general assignment for the benefit of creditors, (iii) shall file a voluntary petition in bankruptcy or for a reorganization to effect a plan injunctive or other arrangement with creditors, or shall file an answer to a creditor's petition or other petition for relief in bankruptcy or for a reorganization which answer admits the material allegations thereof, or if any order for relief shall be entered by any court of bankruptcy jurisdiction with respect to it or shall have instituted against it bankruptcy, reorganization or liquidation proceedings which remain undismissed for 60 days, (iv) shall have entered against it any order by any court approving a plan of reorganization or any other plan or arrangement with creditors, (v) shall apply for or permit the appointment of a receiver, trustee or custodian for any substantial portion of its assets, or (vi) shall become unable to meet its debts as they mature or insolvent;equitable relief

Default and Remedies Upon Default. 8.1 The 11.01 Any one or more of the following events shall constitute a default by the Occupant under the terms of this Agreement: (a) the Occupant shall fail to pay any of the band unit insurance and maintenance fees or other fees or expenses payable by the Occupant under the terms of this Agreement when due, and such failure shall continue unremedied thirty (30) calendar days after notice thereof has been given by the Band to the Occupant to cure such default; (b) the Occupant shall fail to observe any term, provision or covenant under this Agreement on the part of the Occupant to be performed, and such failure shall continue unremedied for ten (10) calendar days after notice thereof has been given by the Band to the Occupant to cure such default; or (c) the Occupant should abandon the Premises for thirty (30) calendar days or more without notifying the Band. 11.02 Upon the occurrence of any of the events of default the Band may, at its option, exercise any or all of the following shall constitute an Event of Default hereunderremedies: (a) If the Borrower band may make such payments or take such actions as it may consider necessary to remedy the default and upon demand recover such payments from the Occupant together with any other amounts as may be due and payable under this Agreement. Any costs incurred by the Band in taking such action to remedy the default shall fail to pay when due any of be payable by the Liabilities; Occupant and shall be considered as additional fees payable and recoverable from the Occupant; (b) If any warranty enter upon and take possession of the Premises without demand or representation made by notice and thereafter possess and enjoy the Premises as though this Agreement had not been made, or for lease or otherwise dispose of the Borrower Premises upon such terms and conditions as the Band may deem appropriate. No acceptance of band unit insurance and maintenance fees or if any financial data or the payment of any other information now fees or hereafter furnished expenses payable by the Occupant subsequent to Standard Federal any breach or default, nor any condoning, excusing or overlooking by the Band on previous occasions of any breach or on behalf default similar to that for which re- entry is made shall be taken to operate as a waiver of this condition or in any way defeat or affect the rights of the Borrower shall prove to be false, inaccurate or misleading in any material respect; Band herein; (c) If an event of default shall occur under withdraw all or any promissory note secured hereby or if the Borrower shall fail to perform any obligation or covenant hereunder, or shall fail to comply with any portion of the provisions of any loan agreement or other agreement with Standard Federal, services to be provided by the Band to the Premises; and (d) If the Borrower or exercise any other party liable on any of rights or remedies it may have in law against the Liabilities: (i) shall voluntarily suspend transaction of its business, (ii) shall make a general assignment for the benefit of creditors, (iii) shall file a voluntary petition in bankruptcy or for a reorganization to effect a plan or other arrangement with creditors, or shall file an answer to a creditor's petition or other petition for relief in bankruptcy or for a reorganization which answer admits the material allegations thereof, or if any order for relief shall be entered by any court of bankruptcy jurisdiction with respect to it or shall have instituted against it bankruptcy, reorganization or liquidation proceedings which remain undismissed for 60 days, (iv) shall have entered against it any order by any court approving a plan of reorganization or any other plan or arrangement with creditors, (v) shall apply for or permit the appointment of a receiver, trustee or custodian for any substantial portion of its assets, or (vi) shall become unable to meet its debts as they mature or insolvent;Occupant.