Loan Events of Default. Each of the following events shall constitute a Loan Event of Default (whether any such event shall be voluntary or involuntary or come about or be effected by operation of law or pursuant to or in compliance with any judgment, decree or order of any court or any order, rule or regulation of any Governmental Authority) and each such Loan Event of Default shall continue so long as, but only as long as, it shall not have been remedied:
Loan Events of Default. The occurrence of any of the following specified events (whatever the reason for such Loan Event of Default and whether such event shall be voluntary or involuntary or come about or be effected by operation of law or pursuant to or in compliance with any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body) shall constitute a "Loan Event of Default";
Loan Events of Default. 15 SECTION 6.2. Remedies.............................................. 17 ARTICLE VII MISCELLANEOUS SECTION 7.1. Amendments and Waivers................................ 19 SECTION 7.2. Notices............................................... 19 SECTION 7.3. Successors and Assigns; Transfers and Participations.. 19 SECTION 7.4. Adjustments........................................... 19 SECTION 7.5. Counterparts.......................................... 20 SECTION 7.6. GOVERNING LAW......................................... 20 SECTION 7.7. Survival and Termination of Agreement................. 20 SECTION 7.8. Entire Agreement...................................... 20 SECTION 7.9. Severability.......................................... 21 SECTION 7.10. Limitations of Borrower's Liability................... 21 SCHEDULE I Lenders EXHIBIT A Form of Note THIS LOAN AGREEMENT (Electric Lightwave, Inc. Trust No. 1995-A) (this "Loan ---- Agreement") is entered into as of April 28, 1995 among SHAWMUT BANK CONNECTICUT, --------- NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as Certificate Trustee under the Trust Agreement of even date herewith with the Persons listed on Schedule I thereto (the "Borrower"); -------- SHAWMUT BANK CONNECTICUT, NATIONAL ASSOCIATION, a national banking association, as Administrative Agent; and the Persons named on Schedule I hereto, as Lenders. ----------
Loan Events of Default. Each of the following events is a Loan Event of Default (whether or not caused by any reason whatsoever outside the control of the Chargor or any other person).
Loan Events of Default. Each of the following events shall constitute a "Loan Event of Default" (whether any such event shall be voluntary or involuntary or come about or be effected by operation of law or pursuant to or in compliance with any judgment, decree or order of any court or any order, rule or regulation of any governmental authority) and each such Loan Event of Default shall continue so long as, but only as long as, it shall not have been remedied: (a) Borrower shall fail to pay any principal of or interest on any Note when due and such failure shall continue for a period of 3 Business Days; or (b) the failure by Borrower in any material respect to timely perform any other covenant or condition herein or in any other Operative Document to which Borrower is a party and such failure shall continue for a period of 30 days after written notice thereof to Borrower and Lessee from Agent; or (c) any representation or warranty by Borrower in any Operative Document or in any certificate or document delivered thereunder shall have been incorrect in a material respect when made and shall remain material when discovered and if curable shall continue for a period of 30 days after written notice thereof to Borrower and Lenders from Agent; or (d) the filing by Borrower of any petition for dissolution or liquidation of Borrower; or the commencement by Borrower of a voluntary case under any applicable bankruptcy, insolvency or other similar law for the relief of debtors, foreign or domestic, now or hereafter in effect; or Borrower shall have consented to the entry of an order for relief in an involuntary case under any such law; or the failure of Borrower generally to pay, or the admission by Borrower in writing that it is unable to pay, its debts as such debts become due (within the meaning of the Bankruptcy Code); or the failure by Borrower promptly to satisfy or discharge any execution, garnishment or attachment of such consequence as will impair its ability to carry out its obligations under the Operative Documents; or the appointment of or taking possession by a receiver, custodian or trustee (or other similar official) for Borrower or any substantial part of its property; or a general assignment by Borrower for the benefit of creditors; or the entry by Borrower into an agreement of composition with its creditors; or Borrower shall have taken any corporate action in furtherance of any of the foregoing; or the filing against Borrower of an involuntary petition in bankruptcy which r...
Loan Events of Default. 11 SECTION 6.2. Remedies..........................................................................12 ARTICLE VII ADMINISTRATIVE AGENT.....................................................................13
Loan Events of Default. Each of the following shall ---------------------- constitute a Loan Event of Default under this Agreement:
Loan Events of Default. Each of the following events shall constitute a
Loan Events of Default. REMEDIES 8 SECTION 5.1.........................................Loan Events of Default 8 SECTION 5.2.......................................................Remedies 9
Loan Events of Default. REMEDIES 9
