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SEC Filings

SC 13D
ALLEN PAUL G filed this Form SC 13D on 11/22/1999
Entire Document
 
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                                   ARTICLE VII
                                EVENTS OF DEFAULT

        SECTION 7.1 Events of Default. If any of the following events
(individually, an "Event of Default" and collectively, "Events of Default")
shall occur and be continuing:

                (a)     Any principal of, or interest on, the Note shall not be
paid within three Business Days after the same becomes due and payable; or any
portion of the Credit Document Obligations or the Guaranty Obligations shall not
be paid when the same becomes due and payable (whether by scheduled maturity,
required prepayment, acceleration, demand or otherwise); or

                (b)     Any representation or warranty made by the Borrower
under or in connection with any Loan Document, any Guaranty or any Credit
Document, or any representation or warranty made in any Control Person
Statement, or any certification made by the Borrower in connection with any
financial statement furnished to the Bank under or in connection with any Loan
Document, any Guaranty or any Credit Document, shall prove to have been
incorrect in any material respect when made; or

                (c)     The Borrower shall fail to perform or observe any term,
covenant or agreement contained in Section 5.1(a), Section 5.1(e)(iv), Section
5.1(e)(v), Section 5.1(e)(vi), Section 5.1(e) (vii), Section 5.1(e) (viii),
Section 5.1(e) (ix), Section 5.2(a), Section 5.2(b), Section 6.1 or Section 6.3
of this Agreement, or the Borrower shall fail to perform or observe any term,
covenant or agreement contained in Section 5, Section 6, Section 7, Section 8 or
Section 14 of the Pledge Agreement; or

                (d)     The Borrower shall fail to perform or observe any term,
covenant or agreement contained in Section 5.1(d) of this Agreement and such
failure shall remain unremedied for five Business Days after written notice of
such failure shall have been given to the Borrower by the Bank; or

                (e)     The Borrower shall fail to perform or observe any other
term, covenant or agreement contained in any Loan Document on the Borrower's
part to be performed or observed if such failure shall remain unremedied for ten
days after written notice thereof shall have been given to the Borrower by the
Bank; or

                (f)     The Borrower shall fail to pay any principal of or
premium or interest on any Debt of the Borrower which is outstanding in a
principal amount of at least $10,000,000.00 in the aggregate (but excluding Debt
evidenced by or arising under the Note, any Guaranty, any Credit Document or the
Borrower Guaranties) when the same becomes due and payable (whether by scheduled
maturity, required prepayment, acceleration, demand or otherwise), and such
failure shall continue after the applicable grace period, if any, specified in
the agreement or instrument relating to such Debt; or any other event shall
occur or condition shall exist under any agreement or instrument relating to any
such Debt and shall continue after the applicable grace period, if any,
specified in such agreement or instrument, if the effect of such event or
condition is to accelerate, or to permit the acceleration of, the maturity of
such Debt; or 



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