Saks Fifth Avenue 2008 Annual Report Download - page 125

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(d) acceleration of any Indebtedness, having an aggregate minimum principal amount of $50 million, for money borrowed
by the Company or a Subsidiary under the terms of the instrument under which such Indebtedness is issued or secured, if such
acceleration is not discharged within 10 days after written notice of such acceleration; or
(e) any Note Guarantee ceases to be in full force and effect or is declared null and void or any Guarantor denies that it has
any further liability under any Note Guarantee, or gives notice to such effect (other than by reason of the termination of this
Indenture or the release of any such Note Guarantee in accordance with Section 12.04 hereof) and such condition shall have
continued for a period of 30 days after written notice of such condition requiring the same to be remedied and stating that such
notice is a “Notice of Default” hereunder shall have been given (x) to the Company by the Trustee or (y) to the Company and
the Trustee by the Holders of at least 25% in aggregate principal amount of the Notes then Outstanding; or
(f) the Company or any Subsidiary of the Company pursuant to or under or within the meaning of any Bankruptcy Law:
(i) commences a voluntary case or proceeding;
(ii) consents to the making of a Bankruptcy Order in an involuntary case or proceeding or the commencement of any
case against it;
(iii) consents to the appointment of a Custodian of it or for any substantial part of its property;
(iv) makes a general assignment for the benefit of its creditors;
(v) files an answer or consent seeking reorganization or relief;
(vi) shall admit in writing its inability to pay its debts generally; or
(vii) consents to the filing of a petition in bankruptcy; or
(g) a court of competent jurisdiction in any involuntary case or proceeding enters a Bankruptcy Order against the Company
or any Subsidiary, and such Bankruptcy Order remains unstayed and in effect for 60 consecutive days; or
(h) a Custodian shall be appointed out of court with respect to the Company or any Subsidiary or with respect to all or any
substantial part of the assets or properties of the Company or any Subsidiary.