Common use of Special Provisions Applicable to this Agreement Clause in Contracts

Special Provisions Applicable to this Agreement. 8.1 If at any time the value of the Collateral consisting of the money market investment account described in Exhibit "A" hereto ("Cash Collateral Account") and the shares of stock described in Exhibit "A" hereto ("Pledged Shares"), as such value is determined from time to time in the sole, but reasonable discretion of Bank, is less than fifty percent (50%) of the outstanding principal balance of the Indebtedness ("Collateral Value Requirement"), Debtor shall, upon ten (10) days prior written notice from Bank, pay or cause to be paid to Bank an amount sufficient to reduce the Indebtedness such that the value of the Collateral is equal to or greater than fifty percent (50%) of the outstanding principal balance of the Indebtedness. Bank shall apply payments made under this paragraph in payment of the Indebtedness in such order and manner of application as Bank in its sole discretion elects. In the alternative, Debtor may, at his election, provide or cause to be provided to Bank additional collateral in the form of cash or other property acceptable to Bank and with a value, as determined by Bank, that when added to the Collateral will constitute compliance with the Collateral Value Requirement. Shares of capital stock of Accel International Corporation and The United Illuminating Company shall be deemed acceptable additional collateral, provided that, in the Bank's sole discretion, there is no material adverse change in the value of such shares after the date of this Agreement.