Common use of Events of Default; Default; Rights Upon Default Clause in Contracts

Events of Default; Default; Rights Upon Default. The happening or occurrence of any of the following events or acts shall each constitute a default hereunder (each, a “Default”), and any such default shall also constitute a Default under the Notes, the Pledge Agreement and any other loan document, without right to notice or time to cure in favor of the Borrower except as indicated below: (a) if the Borrower fails to make any payment, as provided for herein; (b) if there continues to exist any breach under any obligation of any other documents executed pursuant to this Agreement including, without limitation, the Notes and the Pledge Agreement and such breach remains uncured beyond the applicable time period, if any, specifically provided therefor; (c) if any representation or warranty made in this Agreement shall be false when made or be false at any time during the term of this Agreement or any extension hereof, or if the Borrower fails to perform or observe any covenant or agreement contained in this Agreement within thirty (30) days after notice thereof by Administrative Agent; (d) if the Borrower fails to perform or observe any covenant or agreement contained in any other agreement between the Borrower or any Subsidiary and Administrative Agent, or if any condition contained in any agreement between the Borrower or any Subsidiary and Administrative Agent is not fulfilled and such failure remains uncured beyond the cure period, if any, specifically provided therefor; (e) if the Borrower shall continue to fail to perform and observe, or cause at permit any Subsidiary to fail to perform and observe any covenants under this Agreement, including, without limitation, all affirmative and negative covenants set forth in Sections 6 and 7 of this Agreement for fifteen (15) days after notice thereof by Administrative Agent; (f) if the FRS, the FDIC, the Illinois Commissioner of Banks and Real Estate or other governmental agency charged with the regulation of bank holding companies or depository institutions: (i) issues to the Borrower or any Subsidiary, or initiates any action, suit or proceeding to obtain against, impose on or require from the Borrower, or any Subsidiary, a cease and desist order or similar regulatory order, the assessment of civil monetary penalties, articles of agreement, a memorandum of understanding, a capital directive, a capital restoration plan, restrictions that prevent or as a practical matter impair the payment of dividends by any Subsidiary (except those de novo Subsidiaries in their first three years of existence) or the payments of any debt by the Borrower, restrictions that make the payment of dividends by any Subsidiary or the payment of debt by the Borrower subject to prior regulatory approval, a notice or finding under section 51 or section 52 of the Illinois Banking Act or section 8(a) of the Federal Deposit Insurance Act, or any similar enforcement action, measure or proceeding; or (ii) issues to any officer or director of the Borrower, or any Subsidiary, or initiates any action, suit or proceeding to obtain against, impose on or require from any such officer or director, a cease and desist order or similar regulatory order, a removal order, a suspension order, or the assessment of civil monetary penalties; (g) if any Subsidiary is notified that it is considered an institution in “troubled condition” within the meaning of 12 U.S.C. Section 1831i and the regulations promulgated thereunder, or if a conservator or receiver is appointed for any Subsidiary; (h) if the Borrower or any Subsidiary (i) becomes insolvent or is unable to pay its debts as they mature; (ii) makes an assignment for the benefit of creditors or admits in writing its inability to pay its debts as they mature; (iii) suspends transaction of its usual business; or (iv) if a trustee of any substantial part of the assets of the Borrower or any Subsidiary is applied for or appointed, and if appointed in a proceeding brought against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to, or acquiescence in such appointment, or within thirty (30) days such appointment is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect; (i) if any proceedings involving the Borrower or any Subsidiary are commenced by or against the Borrower or any Subsidiary under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation law or statute of the federal government or any state government and if such proceedings are instituted against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to or acquiescence therein, or an order shall be entered approving the petition in such proceedings and within thirty (30) days after the entry thereof such order is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect, or (j) if the Borrower or any Subsidiary continues to be in default in any payment of principal or interest for any other obligation or in the performance of any other term, condition or covenant contained in any agreement (including, but not limited to, an agreement in connection with the acquisition of capital equipment on a title retention or net lease basis), under which any such obligation is created, the effect of which default is to cause or permit the holder of such obligation to cause such obligation to become due prior to its stated maturity. Upon the occurrence of a Default, Administrative Agent shall have all rights and remedies provided by applicable law and, without limiting the generality of the foregoing, may (and, upon the written request of the Required Lenders shall), at its option, declare its commitments to be terminated and the Notes shall thereupon be and become forthwith, due and payable, without any presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower, anything contained herein, in the Notes or the Pledge Agreement to the contrary notwithstanding, and may, also without limitation, appropriate and apply toward the payment of the Notes any indebtedness of the Lenders to the Borrower however created or arising, and may, also without limitation exercise any and all rights in and to the Pledged Security referred to in Section 6 above and in the Pledge Agreement. There shall be no obligation to liquidate the Pledged Security nor any other collateral pledged hereunder in any order or with any priority or to exercise any remedy available to Administrative Agent in any order.

Events of Default; Default; Rights Upon Default. The happening or occurrence of any of the following events or acts shall each constitute a default hereunder (each, a “"Default”"), and any such default shall also constitute a Default under the NotesNote, the Pledge Agreement Agreements and any other loan document, without right to notice or time to cure in favor of the Borrower except as indicated below: (a) if the Borrower fails to make any payment, as provided for hereinherein or in the Pledge Agreements; (b) if there continues to exist any breach under any obligation of any other documents executed pursuant to this Agreement including, without limitation, the Notes Note and the Pledge Agreement Agreements and such breach remains uncured beyond the applicable time period, if any, specifically provided therefor; (c) if any representation or warranty made in this Agreement shall be false when made or be false at any time during the term of this Agreement or any extension hereof, or if the Borrower fails to perform or observe any covenant or agreement contained in this Agreement within thirty fifteen (3015) days after notice thereof by Administrative AgentBank; (d) if the Borrower or any Subsidiary fails to perform or observe any covenant or agreement contained in any other agreement between the Borrower or any Subsidiary and Administrative Agentthe Bank, or if any condition contained in any agreement between the Borrower or any such Subsidiary and Administrative Agent the Bank is not fulfilled and such failure remains uncured beyond the cure period, if any, specifically provided therefor; (e) if the Borrower shall continue to fail to perform and observe, or cause at or permit any Subsidiary to fail to perform and observe any covenants under this Agreement, including, without limitation, all affirmative and negative covenants set forth in Sections 6 7 and 7 8 of this Agreement for fifteen (15) days after notice thereof by Administrative Agentthe Bank; (f) if the FRS, the FDIC, the Illinois Office of the Commissioner of Banks and Real Estate or other governmental agency charged with the regulation of bank holding companies or depository institutions: (i) issues to the Borrower or any Subsidiary, or initiates any action, suit or proceeding to obtain against, impose on or require from the Borrower, Borrower or any Subsidiary, a cease and desist order or similar regulatory order, the assessment of civil monetary penalties, articles of agreement, a memorandum of understanding, a capital directive, a capital restoration plan, restrictions that prevent or as a practical matter impair the payment of dividends by any Subsidiary (except those de novo Subsidiaries in their first three years of existence) or the payments of any debt by the Borrower, restrictions that make the payment of dividends by any Subsidiary or the payment of debt by the Borrower subject to prior regulatory approval, a notice or finding under section Section 51 or section Section 52 of the Illinois Banking Act or section Section 8(a) of the Federal Deposit Insurance Act, or any similar enforcement action, measure or proceeding; or (ii) issues to any officer or director of the Borrower, Borrower or any Subsidiary, or initiates any action, suit or proceeding to obtain against, impose on or require from any such officer or director, a cease and desist order or similar regulatory order, a removal order, a suspension order, or the assessment of civil monetary penalties; (g) if any Subsidiary is notified that it is considered an institution in “"troubled condition” " within the meaning of 12 U.S.C. Section 1831i and the regulations promulgated thereunder, or if a conservator or receiver is appointed for any Subsidiary; (h) if the Borrower or any Subsidiary (i) becomes insolvent or is unable to pay its debts as they mature; (ii) makes an assignment for the benefit of creditors or admits in writing its inability to pay its debts as they mature; (iii) suspends transaction of its usual business; or (iv) if a trustee of any substantial part of the assets of the Borrower or any Subsidiary is applied for or appointed, and if appointed in a proceeding brought against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to, or acquiescence in such appointment, or within thirty (30) days such appointment is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect; (i) if any proceedings involving the Borrower or any Subsidiary are commenced by or against the Borrower or any Subsidiary under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation law or statute of the federal government or any state government and if such proceedings are instituted against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to or acquiescence therein, or an order shall be entered approving the petition in such proceedings and within thirty (30) days after the entry thereof such order is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect, or (j) if the Borrower or any Subsidiary continues to be in default in any payment of principal or interest for any other obligation or in the performance of any other term, condition or covenant contained in any agreement (including, but not limited to, an agreement in connection with the acquisition of capital equipment on a title retention or net lease basis), under which any such obligation is created, the effect of which default is to cause or permit the holder of such obligation to cause such obligation to become due prior to its stated maturity. Upon the occurrence of a Default, Administrative Agent shall have all rights and remedies provided by applicable law and, without limiting the generality of the foregoing, may (and, upon the written request of the Required Lenders shall), at its option, declare its commitments to be terminated and the Notes shall thereupon be and become forthwith, due and payable, without any presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower, anything contained herein, in the Notes or the Pledge Agreement to the contrary notwithstanding, and may, also without limitation, appropriate and apply toward the payment of the Notes any indebtedness of the Lenders to the Borrower however created or arising, and may, also without limitation exercise any and all rights in and to the Pledged Security referred to in Section 6 above and in the Pledge Agreement. There shall be no obligation to liquidate the Pledged Security nor any other collateral pledged hereunder in any order or with any priority or to exercise any remedy available to Administrative Agent in any order.U.S.

Events of Default; Default; Rights Upon Default. The happening or occurrence of any of the following events or acts shall each constitute a default hereunder (each, a “Default”)Default hereunder, and any such default Default shall also constitute a Default under the NotesNote, the Pledge Agreement and any other loan document, without right to notice or time to cure in favor of the Borrower except as indicated below: (a) if the Borrower fails to make payment five (5) days after written notice thereof by the Bank or where applicable upon demand, or fails to make any payment, payments as provided for herein; (b) if there continues to exist any breach under any obligation of any other documents executed pursuant to this Agreement including, without limitation, the Notes Note and the Pledge Agreement and such breach remains uncured beyond the applicable time period, if any, specifically provided therefor; (c) if any representation or warranty made in this Agreement shall continue to be false when made or be false at any time during the term of this Agreement or any extension hereofthereof, or if the Borrower fails to perform or observe any covenant or agreement contained in this Agreement within thirty fifteen (3015) days after written notice thereof by Administrative AgentBank; (d) if the Borrower fails to perform or observe any covenant or agreement contained in any agreement other agreement than this Agreement between the Borrower or any the Subsidiary and Administrative Agentthe Bank, or if any condition contained in any agreement between the Borrower or any the Subsidiary and Administrative Agent the Bank is not fulfilled and such failure remains uncured beyond the cure applicable time period, if any, specifically provided therefor; (e) if the Borrower shall continue to fail to perform and observe, or cause at or permit any the Subsidiary to fail to perform and observe any covenants under this Agreement, including, without limitation, all affirmative and negative covenants set forth in Sections 6 and 7 of this Agreement for fifteen (15) days after written notice thereof by Administrative Agentthe Bank; (f) if the FRS, the FDIC, the Illinois Commissioner of Banks and Real Estate FDIC or other governmental agency charged with the regulation of bank holding companies or depository institutions: (i) issues to the Borrower or any the Subsidiary, or initiates any action, suit or proceeding to obtain against, impose on or require from the Borrower, Borrower or any the Subsidiary, a cease and desist order or similar regulatory order, the assessment of civil monetary penalties, articles of agreement, a memorandum of understanding, a capital directive, a capital restoration plan, restrictions that prevent or as a practical matter impair the payment of dividends by any Subsidiary (except those de novo Subsidiaries in their first three years of existenceii) or the payments of any debt by the Borrower, restrictions that make the payment of dividends by any Subsidiary or the payment of debt by the Borrower subject to prior regulatory approval, a notice or finding under section 51 or section 52 of the Illinois Banking Act or section Section 8(a) of the Federal Deposit Insurance Act, or any similar enforcement action, measure or proceeding; or (ii) issues to any officer or director of the Borrower, or any Subsidiary, or initiates any action, suit or proceeding to obtain against, impose on or require from any such officer or director, a cease and desist order or similar regulatory order, a removal order, a suspension order, or the assessment of civil monetary penalties; (g) if any the Subsidiary is notified that it is considered an institution in “"troubled condition” " within the meaning of 12 U.S.C. Section 1831i and the regulations promulgated thereunder, or if a conservator or receiver is appointed for any Subsidiary; (h) if the Borrower or any Subsidiary (i) becomes insolvent or is unable to pay its debts as they mature; (ii) makes an assignment for the benefit of creditors or admits in writing its inability to pay its debts as they mature; (iii) suspends transaction of its usual business; or (iv) if a trustee of any substantial part of the assets of the Borrower or any Subsidiary is applied for or appointed, and if appointed in a proceeding brought against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to, or acquiescence in such appointment, or within thirty (30) days such appointment is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect; (i) if any proceedings involving the Borrower or any Subsidiary are commenced by or against the Borrower or any Subsidiary under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation law or statute of the federal government or any state government and if such proceedings are instituted against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to or acquiescence therein, or an order shall be entered approving the petition in such proceedings and within thirty (30) days after the entry thereof such order is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect, or (j) if the Borrower or any Subsidiary continues to be in default in any payment of principal or interest for any other obligation or in the performance of any other term, condition or covenant contained in any agreement (including, but not limited to, an agreement in connection with the acquisition of capital equipment on a title retention or net lease basis), under which any such obligation is created, the effect of which default is to cause or permit the holder of such obligation to cause such obligation to become due prior to its stated maturity. Upon the occurrence of a Default, Administrative Agent shall have all rights and remedies provided by applicable law and, without limiting the generality of the foregoing, may (and, upon the written request of the Required Lenders shall), at its option, declare its commitments to be terminated and the Notes shall thereupon be and become forthwith, due and payable, without any presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower, anything contained herein, in the Notes or the Pledge Agreement to the contrary notwithstanding, and may, also without limitation, appropriate and apply toward the payment of the Notes any indebtedness of the Lenders to the Borrower however created or arising, and may, also without limitation exercise any and all rights in and to the Pledged Security referred to in Section 6 above and in the Pledge Agreement. There shall be no obligation to liquidate the Pledged Security nor any other collateral pledged hereunder in any order or with any priority or to exercise any remedy available to Administrative Agent in any order.U.S.

Events of Default; Default; Rights Upon Default. The happening or occurrence of any of the following events or acts shall each constitute a default hereunder (each, a “Default”)Default hereunder, and any such default Default shall also constitute a Default under the NotesNote, the Letters of Credit, the Pledge Agreement and any other loan document, without right to notice or time to cure in favor of the Borrower Borrowers except as indicated below: (a) if the Borrower fails Borrowers fail to make any payment, payments as provided for herein; (b) if there continues to exist any breach under any obligation of any other documents executed pursuant to this Agreement including, without limitation, the Notes Note and the Pledge Agreement and such breach remains uncured beyond the applicable time period, if any, specifically provided therefor; (c) if any representation or warranty made in this Agreement shall continue to be false when made or be false at any time during the term of this Agreement or any extension hereofthereof, or if the Borrower fails Borrowers fail to perform or observe any covenant or agreement contained in this Agreement within thirty fifteen (3015) days after notice thereof by Administrative AgentBank; (d) if the Borrower fails Borrowers fail to perform or observe any covenant or agreement contained in any other agreement between the Borrower Borrowers or any the Subsidiary and Administrative Agentthe Bank, or if any condition contained in any agreement between the Borrower Borrowers or any the Subsidiary and Administrative Agent the Bank is not fulfilled and such failure remains uncured beyond the cure applicable time period, if any, specifically provided therefor; (e) if the Borrower Borrowers shall continue to fail to perform and observe, or cause at or permit any the Subsidiary to fail to perform and observe any covenants under this Agreement, including, without limitation, all affirmative and negative covenants set forth in Sections 6 and 7 of this Agreement for fifteen (15) days after notice thereof by Administrative Agentthe Bank; (f) if the FRS, the FDIC, the Illinois Iowa Commissioner of Banks and Real Estate Trust Companies or other governmental agency charged with the regulation of bank holding companies or depository institutions: (i) issues to the any Borrower or any the Subsidiary, or initiates any action, suit or proceeding to obtain against, impose on or require from any Borrower or the Borrower, or any Subsidiary, a cease and desist order or similar regulatory order, the assessment of civil monetary penalties, articles of or agreement, a memorandum of understanding, a capital directive, a capital restoration plan, restrictions that prevent or as a practical matter impair the payment of dividends by any the Subsidiary (except those de novo Subsidiaries in their first three years of existence) or the payments of any debt by the a Borrower, restrictions that make the payment of for the dividends by any the Subsidiary or the payment of debt by the a Borrower subject to prior regulatory approval, a notice or finding under section 51 or section 52 of the Illinois Banking Act or section Section 8(a) of the Federal Deposit Insurance Act, or any similar enforcement action, measure or proceeding; or (ii) issues to any officer or director of a Borrower or the Borrower, or any Subsidiary, or initiates any action, suit or proceeding to obtain against, impose on or require from any such officer or director, a cease and desist order or similar regulatory order, a removal order, a order or suspension order, or the assessment of civil monetary penalties;. (g) if any the Subsidiary is notified that it is considered an institution in “"troubled condition” " within the meaning of 12 U.S.C. Section 1831i and the regulations promulgated thereunder, or if a conservator or receiver is appointed for any Subsidiary; (h) if the Borrower or any Subsidiary (i) becomes insolvent or is unable to pay its debts as they mature; (ii) makes an assignment for the benefit of creditors or admits in writing its inability to pay its debts as they mature; (iii) suspends transaction of its usual business; or (iv) if a trustee of any substantial part of the assets of the Borrower or any Subsidiary is applied for or appointed, and if appointed in a proceeding brought against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to, or acquiescence in such appointment, or within thirty (30) days such appointment is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect; (i) if any proceedings involving the Borrower or any Subsidiary are commenced by or against the Borrower or any Subsidiary under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation law or statute of the federal government or any state government and if such proceedings are instituted against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to or acquiescence therein, or an order shall be entered approving the petition in such proceedings and within thirty (30) days after the entry thereof such order is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect, or (j) if the Borrower or any Subsidiary continues to be in default in any payment of principal or interest for any other obligation or in the performance of any other term, condition or covenant contained in any agreement (including, but not limited to, an agreement in connection with the acquisition of capital equipment on a title retention or net lease basis), under which any such obligation is created, the effect of which default is to cause or permit the holder of such obligation to cause such obligation to become due prior to its stated maturity. Upon the occurrence of a Default, Administrative Agent shall have all rights and remedies provided by applicable law and, without limiting the generality of the foregoing, may (and, upon the written request of the Required Lenders shall), at its option, declare its commitments to be terminated and the Notes shall thereupon be and become forthwith, due and payable, without any presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower, anything contained herein, in the Notes or the Pledge Agreement to the contrary notwithstanding, and may, also without limitation, appropriate and apply toward the payment of the Notes any indebtedness of the Lenders to the Borrower however created or arising, and may, also without limitation exercise any and all rights in and to the Pledged Security referred to in Section 6 above and in the Pledge Agreement. There shall be no obligation to liquidate the Pledged Security nor any other collateral pledged hereunder in any order or with any priority or to exercise any remedy available to Administrative Agent in any order.U.S.

Events of Default; Default; Rights Upon Default. The happening or occurrence of any of the following events or acts shall each constitute a default hereunder (each, a “"Default”"), and any such ------- default shall also constitute a Default under the Notes, the Pledge Agreement and any other loan document, without right to notice or time to cure in favor of the Borrower except as indicated below: (a) if the Borrower fails to make any payment, as provided for herein; (b) if there continues to exist any breach under any obligation of any other documents executed pursuant to this Agreement including, without limitation, the Notes and the Pledge Agreement and such breach remains uncured beyond the applicable time period, if any, specifically provided therefor; (c) if any representation or warranty made in this Agreement shall be false when made or be false at any time during the term of this Agreement or any extension hereof, or if the Borrower fails to perform or observe any covenant or agreement contained in this Agreement within thirty (30) days after notice thereof by Administrative AgentLaSalle; (d) if the Borrower fails to perform or observe any covenant or agreement contained in any other agreement between the Borrower or any Subsidiary and Administrative AgentLaSalle, or if any condition contained in any agreement between the Borrower or any Subsidiary and Administrative Agent LaSalle is not fulfilled and such failure remains uncured beyond the cure period, if any, specifically provided therefor; (e) if the Borrower shall continue to fail to perform and observe, or cause at permit any Subsidiary to fail to perform and observe any covenants under this Agreement, including, without limitation, all affirmative and negative covenants set forth in Sections 6 and 7 of this Agreement for fifteen (15) days after notice thereof by Administrative AgentLaSalle; (f) if the FRS, the FDIC, the Illinois Commissioner of Banks and Real Estate or other governmental agency charged with the regulation of bank holding companies or depository institutions: (i) issues to the Borrower or any Subsidiary, or initiates any action, suit or proceeding to obtain against, impose on or require from the Borrower, or any Subsidiary, a cease and desist order or similar regulatory order, the assessment of civil monetary penalties, articles of agreement, a memorandum of understanding, a capital directive, a capital restoration plan, restrictions that prevent or as a practical matter impair the payment of dividends by any Subsidiary (except those de novo Subsidiaries in their first three years of existence) or the payments of any debt by the Borrower, restrictions that make the payment of dividends by any Subsidiary or the payment of debt by the Borrower subject to prior regulatory approval, a notice or finding under section 51 or section 52 of the Illinois Banking Act or section 8(a) of the Federal Deposit Insurance Act, or any similar enforcement action, measure or proceeding; or (ii) issues to any officer or director of the Borrower, or any Subsidiary, or initiates any action, suit or proceeding to obtain against, impose on or require from any such officer or director, a cease and desist order or similar regulatory order, a removal order, a suspension order, or the assessment of civil monetary penalties; (g) if any Subsidiary is notified that it is considered an institution in “"troubled condition” " within the meaning of 12 U.S.C. Section 1831i and the regulations promulgated thereunder, or if a conservator or receiver is appointed for any Subsidiary; (h) if the Borrower or any Subsidiary (i) becomes insolvent or is unable to pay its debts as they mature; (ii) makes an assignment for the benefit of creditors or admits in writing its inability to pay its debts as they mature; (iii) suspends transaction of its usual business; or (iv) if a trustee of any substantial part of the assets of the Borrower or any Subsidiary is applied for or appointed, and if appointed in a proceeding brought against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to, or acquiescence in such appointment, or within thirty (30) days such appointment is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect; (i) if any proceedings involving the Borrower or any Subsidiary are commenced by or against the Borrower or any Subsidiary under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation law or statute of the federal government or any state government and if such proceedings are instituted against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to or acquiescence therein, or an order shall be entered approving the petition in such proceedings and within thirty (30) days after the entry thereof such order is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect, or (j) if the Borrower or any Subsidiary continues to be in default in any payment of principal or interest for any other obligation or in the performance of any other term, condition or covenant contained in any agreement (including, but not limited to, an agreement in connection with the acquisition of capital equipment on a title retention or net lease basis), under which any such obligation is created, the effect of which default is to cause or permit the holder of such obligation to cause such obligation to become due prior to its stated maturity. Upon the occurrence of a Default, Administrative Agent shall have all rights and remedies provided by applicable law and, without limiting the generality of the foregoing, may (and, upon the written request of the Required Lenders shall), at its option, declare its commitments to be terminated and the Notes shall thereupon be and become forthwith, due and payable, without any presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower, anything contained herein, in the Notes or the Pledge Agreement to the contrary notwithstanding, and may, also without limitation, appropriate and apply toward the payment of the Notes any indebtedness of the Lenders to the Borrower however created or arising, and may, also without limitation exercise any and all rights in and to the Pledged Security referred to in Section 6 above and in the Pledge Agreement. There shall be no obligation to liquidate the Pledged Security nor any other collateral pledged hereunder in any order or with any priority or to exercise any remedy available to Administrative Agent in any order.U.S.

Events of Default; Default; Rights Upon Default. The happening or occurrence of any of the following events or acts shall each constitute a default hereunder (each, a “"Default”"), and any such default shall also constitute a Default under the Notes, the Pledge Agreement Revolving Note and any other loan document, without right to notice or time to cure in favor of the Borrower except as indicated belowBorrower: (a) if the Borrower fails to make any payment, as provided for herein, which failure continues for ten (10) days following written notice; (b) if there continues to exist any breach under any obligation of any other documents executed pursuant to this Agreement including, without limitation, the Notes and the Pledge Agreement and Revolving Note which such breach remains uncured continues for ten (10) days following written notice, or if longer, beyond the applicable time cure period, if any, specifically provided therefor; (c) if any representation or warranty made in this Agreement shall be false when made or be false at any time during the term of this Agreement or any extension hereof, or if the Borrower fails to perform or observe any covenant or agreement contained in this Agreement within thirty Agreement, which such default or failure continues for ten (3010) days after notice thereof by Administrative Agentfollowing written notice; (d) if the Borrower fails to perform or observe any covenant or agreement contained in any other agreement between the Borrower or any the Subsidiary and Administrative Agentthe Bank, or if any condition contained in any agreement between the Borrower or any the Subsidiary and Administrative Agent the Bank is not fulfilled and which such failure remains uncured breach continues for ten (10) days following written notice, or if longer, beyond the applicable cure period, if any, specifically provided therefor; (e) if the Borrower shall continue to fail to perform and observe, or cause at or permit any the Subsidiary to fail to perform and observe any covenants under this Agreement, including, without limitation, all affirmative and negative covenants set forth in Sections 6 and 7 of this Agreement which such breach continues for fifteen ten (1510) days after notice thereof by Administrative Agentfollowing written notice, or if longer, beyond the applicable cure period, if any, specifically provided therefor; (f) if the FRS, the FDIC, the Illinois Commissioner of Banks and Real Estate Michigan banking commission or other governmental agency charged with the regulation of bank holding companies or depository institutions: (i) issues to the Borrower or any the Subsidiary, or initiates any action, suit or proceeding to obtain against, impose on or require from the Borrower, Borrower or any the Subsidiary, a cease and desist order or similar regulatory order, the assessment of civil monetary penalties, articles of agreement, a memorandum of understanding, a capital directive, a capital restoration plan, restrictions that prevent or as a practical matter impair the payment of dividends by any the Subsidiary (except those de novo Subsidiaries in their first three years of existence) or the payments of any debt by the Borrower, restrictions that make the payment of dividends by any the Subsidiary or the payment of debt by the Borrower subject to prior regulatory approval, a notice or finding under section 51 Michigan banking laws, a notice or section 52 of the Illinois Banking Act or section finding under Section 8(a) of the Federal Deposit Insurance Act, or any similar enforcement action, measure or proceeding; or (ii) issues to any officer or director of the Borrower, Borrower or any the Subsidiary, or initiates any action, suit or proceeding to obtain against, impose on or require from any such officer or director, a cease and desist order or similar regulatory order, a removal order, a suspension order, or the assessment of civil monetary penalties; (g) if any the Subsidiary is notified that it is considered an institution in “"troubled condition” " within the meaning of 12 U.S.C. Section 1831i and the regulations promulgated thereunder, or if a conservator or receiver is appointed for any Subsidiary; (h) if the Borrower or any Subsidiary (i) becomes insolvent or is unable to pay its debts as they mature; (ii) makes an assignment for the benefit of creditors or admits in writing its inability to pay its debts as they mature; (iii) suspends transaction of its usual business; or (iv) if a trustee of any substantial part of the assets of the Borrower or any Subsidiary is applied for or appointed, and if appointed in a proceeding brought against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to, or acquiescence in such appointment, or within thirty (30) days such appointment is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect; (i) if any proceedings involving the Borrower or any Subsidiary are commenced by or against the Borrower or any Subsidiary under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation law or statute of the federal government or any state government and if such proceedings are instituted against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to or acquiescence therein, or an order shall be entered approving the petition in such proceedings and within thirty (30) days after the entry thereof such order is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect, or (j) if the Borrower or any Subsidiary continues to be in default in any payment of principal or interest for any other obligation or in the performance of any other term, condition or covenant contained in any agreement (including, but not limited to, an agreement in connection with the acquisition of capital equipment on a title retention or net lease basis), under which any such obligation is created, the effect of which default is to cause or permit the holder of such obligation to cause such obligation to become due prior to its stated maturity. Upon the occurrence of a Default, Administrative Agent shall have all rights and remedies provided by applicable law and, without limiting the generality of the foregoing, may (and, upon the written request of the Required Lenders shall), at its option, declare its commitments to be terminated and the Notes shall thereupon be and become forthwith, due and payable, without any presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower, anything contained herein, in the Notes or the Pledge Agreement to the contrary notwithstanding, and may, also without limitation, appropriate and apply toward the payment of the Notes any indebtedness of the Lenders to the Borrower however created or arising, and may, also without limitation exercise any and all rights in and to the Pledged Security referred to in Section 6 above and in the Pledge Agreement. There shall be no obligation to liquidate the Pledged Security nor any other collateral pledged hereunder in any order or with any priority or to exercise any remedy available to Administrative Agent in any order.U.S.

Events of Default; Default; Rights Upon Default. The happening or occurrence of any of the following events or acts shall each constitute a default hereunder (each, a “Default”), and any such default shall also constitute a Default under the Notes, the Pledge Agreement and any other loan document, without right to notice or time to cure in favor of the Borrower except as indicated below: (a) if the Borrower fails to make any payment, as provided for herein; (b) if there continues to exist any breach under any obligation of any other documents executed pursuant to this Agreement including, without limitation, the Notes and the Pledge Agreement and such breach remains uncured beyond the applicable time period, if any, specifically provided therefor; (c) if any representation or warranty made in this Agreement shall be false when made or be false at any time during the term of this Agreement or any extension hereof, or if the Borrower fails to perform or observe any covenant or agreement contained in this Agreement within thirty (30) days after notice thereof by Administrative AgentLaSalle; (d) if the Borrower fails to perform or observe any covenant or agreement contained in any other agreement between the Borrower or any Subsidiary and Administrative AgentLaSalle, or if any condition contained in any agreement between the Borrower or any Subsidiary and Administrative Agent LaSalle is not fulfilled and such failure remains uncured beyond the cure period, if any, specifically provided therefor; (e) if the Borrower shall continue to fail to perform and observe, or cause at permit any Subsidiary to fail to perform and observe any covenants under this Agreement, including, without limitation, all affirmative and negative covenants set forth in Sections 6 and 7 of this Agreement for fifteen (15) days after notice thereof by Administrative AgentLaSalle; (f) if the FRS, the FDIC, the Illinois Commissioner of Banks and Real Estate or other governmental agency charged with the regulation of bank holding companies or depository institutions: (i) issues to the Borrower or any Subsidiary, or initiates any action, suit or proceeding to obtain against, impose on or require from the Borrower, or any Subsidiary, a cease and desist order or similar regulatory order, the assessment of civil monetary penalties, articles of agreement, a memorandum of understanding, a capital directive, a capital restoration plan, restrictions that prevent or as a practical matter impair the payment of dividends by any Subsidiary (except those de novo Subsidiaries in their first three years of existence) or the payments of any debt by the Borrower, restrictions that make the payment of dividends by any Subsidiary or the payment of debt by the Borrower subject to prior regulatory approval, a notice or finding under section 51 or section 52 of the Illinois Banking Act or section 8(a) of the Federal Deposit Insurance Act, or any similar enforcement action, measure or proceeding; or (ii) issues to any officer or director of the Borrower, or any Subsidiary, or initiates any action, suit or proceeding to obtain against, impose on or require from any such officer or director, a cease and desist order or similar regulatory order, a removal order, a suspension order, or the assessment of civil monetary penalties; (g) if any Subsidiary is notified that it is considered an institution in “troubled condition” within the meaning of 12 U.S.C. Section 1831i and the regulations promulgated thereunder, or if a conservator or receiver is appointed for any Subsidiary; (h) if the Borrower or any Subsidiary (i) becomes insolvent or is unable to pay its debts as they mature; (ii) makes an assignment for the benefit of creditors or admits in writing its inability to pay its debts as they mature; (iii) suspends transaction of its usual business; or (iv) if a trustee of any substantial part of the assets of the Borrower or any Subsidiary is applied for or appointed, and if appointed in a proceeding brought against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to, or acquiescence in such appointment, or within thirty (30) days such appointment is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect; (i) if any proceedings involving the Borrower or any Subsidiary are commenced by or against the Borrower or any Subsidiary under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation law or statute of the federal government or any state government and if such proceedings are instituted against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to or acquiescence therein, or an order shall be entered approving the petition in such proceedings and within thirty (30) days after the entry thereof such order is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect, or (j) if the Borrower or any Subsidiary continues to be in default in any payment of principal or interest for any other obligation or in the performance of any other term, condition or covenant contained in any agreement (including, but not limited to, an agreement in connection with the acquisition of capital equipment on a title retention or net lease basis), under which any such obligation is created, the effect of which default is to cause or permit the holder of such obligation to cause such obligation to become due prior to its stated maturity. Upon the occurrence of a Default, Administrative Agent LaSalle shall have all rights and remedies provided by applicable law and, without limiting the generality of the foregoing, may (and, upon the written request of the Required Lenders shall)may, at its option, declare its commitments to be terminated and the Notes shall thereupon be and become forthwith, due and payable, without any presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower, anything contained herein, in the Notes or the Pledge Agreement to the contrary notwithstanding, and may, also without limitation, appropriate and apply toward the payment of the Notes any indebtedness of the Lenders LaSalle to the Borrower however created or arising, and may, also without limitation exercise any and all rights in and to the Pledged Security referred to in Section 6 above and in the Pledge Agreement. There shall be no obligation to liquidate the Pledged Security nor any other collateral pledged hereunder in any order or with any priority or to exercise any remedy available to Administrative Agent LaSalle in any order.,

Events of Default; Default; Rights Upon Default. The happening or occurrence of any of the following events or acts shall each constitute a default hereunder (each, a “Default”)Default hereunder, and any such default Default shall also constitute a Default under the NotesNote, the Pledge Agreement and any other loan document, without right to notice or time to cure in favor of the Borrower except as indicated below: (a) if the Borrower fails to make payment fifteen (15) days after notice by the Bank or where applicable upon demand, or fails to make any payment, payments as provided for herein; (b) if there continues to exist any breach under any obligation of any other documents executed pursuant to this Agreement including, without limitation, the Notes Note and the Pledge Agreement and such breach remains uncured beyond the applicable time period, if any, specifically provided therefor; (c) if any representation or warranty made in this Agreement shall continue to be false when made or be false at any time during the term of this Agreement or any extension hereofthereof, or if the Borrower fails to perform or observe any covenant or agreement contained in this Agreement within thirty fifteen (3015) days after notice thereof by Administrative AgentBank; (d) if the Borrower fails to perform or observe any covenant or agreement contained in any other agreement between the Borrower or any Subsidiary and Administrative Agentthe Bank, or if any condition contained in any agreement between the Borrower or any Subsidiary and Administrative Agent the Bank is not fulfilled and such failure remains uncured beyond the cure applicable time period, if any, specifically provided therefor; (e) if the Borrower shall continue to fail to perform and observe, or cause at or permit any Subsidiary to fail to perform and observe any covenants under this Agreement, including, without limitation, all affirmative and negative covenants set forth in Sections 6 and 7 of this Agreement for fifteen (15) days after notice thereof by Administrative Agentthe Bank; (f) if the FRS, the FDIC, the Illinois Commissioner of Banks and Real Estate Trust Companies or other governmental agency charged with the regulation of bank holding companies or depository institutions: (i) issues to the Borrower or any Subsidiary, or institutions initiates any enforcement action, suit or regulatory proceeding to obtain against, impose on of any kind or require from character whatsoever against the Borrower, any Subsidiary or any Subsidiaryofficer or director thereof, a cease and desist order or similar regulatory orderincluding, the assessment of civil monetary penaltieswithout limitation, articles of agreement, a memorandum of understanding, a capital directive, a capital restoration plan, any action to impose restrictions that prevent or as a practical matter impair the payment of dividends by any Subsidiary (except those de novo Subsidiaries in their first three years of existence) or the payments of any debt by the Borrower, Borrower or restrictions that make the payment of for the dividends by any Subsidiary or the payment of debt by the Borrower subject to prior regulatory approval, a notice or finding under section 51 or section 52 of the Illinois Banking Act or section 8(a) of the Federal Deposit Insurance Act, or any similar enforcement action, measure or proceeding; or (ii) issues to any officer or director of the Borrower, or any Subsidiary, or initiates any action, suit or proceeding to obtain against, impose on or require from any such officer or director, a cease and desist order or similar regulatory order, a removal order, a suspension order, or the assessment of civil monetary penalties; (g) if any Subsidiary is notified that it is considered an institution in “"troubled condition” " within the meaning of 12 U.S.C. Section 1831i and the regulations promulgated thereunder, or if a conservator or receiver is appointed for any Subsidiary; (h) if the Borrower or any Subsidiary (i) becomes insolvent or is unable to pay its debts as they mature; (ii) makes an assignment for the benefit of creditors or admits in writing its inability to pay its debts as they mature; (iii) suspends transaction of its usual business; or (iv) if a trustee of any substantial part of the assets of the Borrower or any Subsidiary is applied for or appointed, and if appointed in a proceeding brought against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to, or acquiescence in such appointment, or within thirty (30) days such appointment is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect; (i) if any proceedings involving the Borrower or any Subsidiary are commenced by or against the Borrower or any Subsidiary under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation law or statute of the federal government or any state government and if such proceedings are instituted against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to or acquiescence therein, or an order shall be entered approving the petition in such proceedings and within thirty (30) days after the entry thereof such order is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect, or (j) if the Borrower or any Subsidiary continues to be in default in any payment of principal or interest for any other obligation or in the performance of any other term, condition or covenant contained in any agreement (including, but not limited to, an agreement in connection with the acquisition of capital equipment on a title retention or net lease basis), under which any such obligation is created, the effect of which default is to cause or permit the holder of such obligation to cause such obligation to become due prior to its stated maturity. Upon the occurrence of a Default, Administrative Agent shall have all rights and remedies provided by applicable law and, without limiting the generality of the foregoing, may (and, upon the written request of the Required Lenders shall), at its option, declare its commitments to be terminated and the Notes shall thereupon be and become forthwith, due and payable, without any presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower, anything contained herein, in the Notes or the Pledge Agreement to the contrary notwithstanding, and may, also without limitation, appropriate and apply toward the payment of the Notes any indebtedness of the Lenders to the Borrower however created or arising, and may, also without limitation exercise any and all rights in and to the Pledged Security referred to in Section 6 above and in the Pledge Agreement. There shall be no obligation to liquidate the Pledged Security nor any other collateral pledged hereunder in any order or with any priority or to exercise any remedy available to Administrative Agent in any order.U.S.

Events of Default; Default; Rights Upon Default. The happening or occurrence of any of the following events or acts shall each constitute a default hereunder (each, a “Default”)Default hereunder, and any such default Default shall also constitute a Default under the NotesNote, the Pledge Agreement and any other loan document, without right to notice or time to cure in favor of the Borrower except as indicated below: (a) if the Borrower fails to make payment five (5) days after written notice thereof by the Bank or where applicable upon demand, or fails to make any payment, payments as provided for herein; (b) if there continues to exist any breach under any obligation of any other documents executed pursuant to this Agreement including, without limitation, the Notes Note and the Pledge Agreement and such breach remains uncured beyond the applicable time period, if any, specifically provided therefor; (c) if any representation or warranty made in this Agreement shall continue to be false when made or be false at any time during the term of this Agreement or any extension hereofthereof, or if the Borrower fails to perform or observe any covenant or agreement contained in this Agreement within thirty (30) days after written notice thereof by Administrative AgentBank; (d) if the Borrower fails to perform or observe any covenant or agreement contained in any agreement other agreement than this Agreement between the Borrower or any the Subsidiary and Administrative Agentthe Bank, or if any condition contained in any agreement between the Borrower or any the Subsidiary and Administrative Agent the Bank is not fulfilled and such failure remains uncured beyond the cure applicable time period, if any, specifically provided therefor; (e) if there is a change in control in the Borrower or Subsidiary (as defined under applicable laws or regulations) or if ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ceases to be a member of senior management of the Borrower and Subsidiary; (f) if the Borrower shall continue to fail to perform and observe, or cause at or permit any the Subsidiary to fail to perform and observe any covenants under this Agreement, including, without limitation, all affirmative and negative covenants set forth in Sections 6 and 7 of this Agreement for fifteen thirty (1530) days after written notice thereof by Administrative Agentthe Bank; (fg) if the FRS, the FDIC, the Illinois Commissioner of Banks and Real Estate FDIC or other governmental agency charged with the regulation of bank holding companies or depository institutions: (i) issues to the Borrower or any the Subsidiary, or initiates any action, suit or proceeding to obtain against, impose on or require from the Borrower, Borrower or any the Subsidiary, a cease and desist order or similar regulatory order, the assessment of civil monetary penalties, articles of agreement, a memorandum of understanding, a capital directive, a capital restoration plan, restrictions that prevent or as a practical matter impair the payment of dividends by any Subsidiary (except those de novo Subsidiaries in their first three years of existenceii) or the payments of any debt by the Borrower, restrictions that make the payment of dividends by any Subsidiary or the payment of debt by the Borrower subject to prior regulatory approval, a notice or finding under section 51 or section 52 of the Illinois Banking Act or section Section 8(a) of the Federal Deposit Insurance Act, or any similar enforcement action, measure or proceeding; or (ii) issues to any officer or director of the Borrower, or any Subsidiary, or initiates any action, suit or proceeding to obtain against, impose on or require from any such officer or director, a cease and desist order or similar regulatory order, a removal order, a suspension order, or the assessment of civil monetary penalties; (gh) if any the Subsidiary is notified that it is considered an institution in “troubled condition” within the meaning of 12 U.S.C. Section 1831i and the regulations promulgated thereunder, or if a conservator or receiver is appointed for any Subsidiary; (hi) if the Borrower or any the Subsidiary (i) becomes insolvent or is unable to pay its debts as they mature; (ii) or makes an assignment for the benefit of creditors or admits in writing its inability to pay its debts as they mature; (iii) or suspends transaction of its usual business; , or (iv) if a trustee of any substantial part of the assets of the Borrower or any the Subsidiary is applied for or appointed, and if appointed in a proceeding brought against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to, or acquiescence in such appointment, or within thirty (30) days such appointment is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect; (ij) if any proceedings involving the Borrower or any the Subsidiary are commenced by or against the Borrower or any the Subsidiary under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation law or statute of the federal government or any state government and if such proceedings are instituted against the Borrower, the Borrower by any action or failure to act indicates its approval of, consent to or our acquiescence therein, or an order shall be entered approving the petition in such proceedings and within thirty (30) days after the entry thereof such order is not vacated or stayed on appeal or otherwise, or shall not otherwise have ceased to continue in effect, ; or (jk) if the Borrower or any the Subsidiary continues continue to be in default in any payment of principal or interest for any other obligation or in the performance of any other term, condition or covenant contained in any agreement (including, including but not limited to, to an agreement in connection with the acquisition of capital equipment on a title retention or net lease basis), under which any such obligation is created, created the effect of which default is to cause or permit the holder of such obligation to cause such obligation to become due prior to its stated maturity. Upon the occurrence of a Default, Administrative Agent the Bank shall have all rights and remedies provided by applicable law and, without limiting the generality of the foregoing, may (and, upon the written request of the Required Lenders shall)may, at its option, declare its commitments to be terminated and the Notes Note shall thereupon be and become forthwith, due and payable, without any presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower, anything contained herein, herein or in the Notes Note or the Pledge Agreement to the contrary notwithstanding, and may, also without limitation, appropriate and apply toward the payment of the Notes Note any indebtedness of the Lenders Bank to the Borrower however created or arising, and may, also without limitation exercise any and all rights in and to the Pledged Security collateral security referred to in Section 6 8 above and in under the Pledge Agreement. There shall be no obligation to liquidate the Pledged Security nor any other collateral pledged pledge hereunder in any order or with any priority or to exercise any remedy available to Administrative Agent the Bank in any order.