Supercuts 2008 Annual Report Download - page 236

becomes due, any interest, fee or any other amount payable hereunder or under any other Loan Document; or
(b) Representation or Warranty.
Any representation or warranty by the Company or any Subsidiary made or deemed made herein or in
any other Loan Document, or contained in any certificate, document or financial or other statement by the Company, any Subsidiary or any
Responsible Officer, furnished at any time under this Agreement, or in or under any other Loan Document, is incorrect in any material respect on
or as of the date made or deemed made; or
(c) Specific Defaults. The Company fails to perform or observe any term, covenant or agreement contained in Section 7.03 or in
Article VIII
; or
(d) Other Defaults. Any Loan Party fails to perform or observe any other term or covenant contained in this Agreement or any other
Loan Document, and such default shall continue unremedied for a period of 30 days after the earlier of (i) the date upon which any senior officer
of the Company knew or reasonably should have known of such failure or (ii) the date upon which written notice thereof is given to the
Company by the Administrative Agent or any Lender; or
(e) Cross-Default. (i) The Company or any Subsidiary (A) fails to make any payment in respect of any Indebtedness (other than
Specified Acquisition Debt) or Contingent Obligation (other than in respect of Swap Contracts), having an aggregate principal amount (including
undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of
more than $10,000,000 when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) and such failure
continues after the applicable grace or notice period, if any, specified in the relevant document on the date of such failure; or (B) fails to perform
or observe any other condition or covenant, or any other event shall occur or condition exist, under any agreement or instrument relating to any
such Indebtedness (other than Specified Acquisition Debt) or Contingent Obligation, and such failure continues after the applicable grace or
notice period, if any, specified in the relevant document on the date of such failure if the effect of such failure, event or condition is to cause, or
to permit the holder or holders of such Indebtedness or beneficiary or beneficiaries of such Indebtedness (or a trustee or agent on behalf of such
holder or holders or beneficiary or beneficiaries) to cause such Indebtedness to be declared to be due and payable, or to be required to be
repurchased, prior to its stated maturity, or such Contingent Obligation to become payable or cash collateral in respect thereof to be demanded;
or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (1) any event of
default under such Swap Contract as to which the Company or any Subsidiary is the Defaulting Party (as defined in such Swap Contract) or
(2) any Termination Event (as so defined) as to which the Company or any Subsidiary is an Affected Party (as so defined) and, in either event,
the Swap Termination Value owed by the Company or such Subsidiary as a result thereof is greater than $10,000,000; provided
that any Event of
Default arising under clause (i)(B) in respect of Indebtedness evidenced or governed by a Note Agreement shall be determined without regard to
any amendment to or waiver of any provision of such Note Agreement or any related document or instrument entered into by the parties thereto
in anticipation of, concurrent with or subsequent to the occurrence of any such event or circumstance; or
(f) Insolvency; Voluntary Proceedings. The Company or any Subsidiary (i) ceases or fails to be solvent, or generally fails to pay, or
admits in writing its inability to pay, its debts as they become due, subject to applicable grace periods, if any, whether at stated maturity or
otherwise; (ii)
voluntarily ceases to conduct its business in the ordinary course; (iii) commences any Insolvency Proceeding with respect to itself;
or (iv) takes any action to effectuate or authorize any of the foregoing; or
(g) Involuntary Proceedings. (i) Any involuntary Insolvency Proceeding is commenced or filed against the Company or any
Subsidiary, or any writ, judgment, warrant of attachment, execution or similar process, is issued or levied against a substantial part of the
Company's or any Subsidiary's
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