US Airways 2004 Annual Report Download - page 219

adequately covered by insurance as to which the insurance company has
acknowledged coverage) is entered or filed against the Borrower or
Guarantor or any of its assets and remains undischarged, unvacated,
unbonded, uninsured, or unstayed for a period of 90 consecutive days; or
(j) Dissolution. Any order, judgment, or decree is
entered against Borrower or Guarantor decreeing the dissolution or split
up of Borrower or Guarantor, as the case may be, and such order remains
undischarged or unstayed for a period in excess of ninety (90) consecutive
days, but in any event not later than five (5) days prior to the date of
any proposed dissolution or split up; or
(k) Invalidity of Loan Documents. Any of the Loan
Documents for any reason, other than a partial or full release in
accordance with the terms thereof, ceases to be in full force and effect
or is declared to be null and void, or Borrower or Guarantor denies that
it has any further liability under any Loan Documents to which it is
party, or gives notice to such effect (in each case prior to such
respective partial or full release); or
(l) Failure of Security. Administrative Agent, on behalf
of itself and Lenders, does not have or ceases to have a valid and
perfected security interest in the Collateral (subject only to Permitted
Liens), in each case, for any reason other than the failure of
Administrative Agent or any Lender to take any action within its control;
or
(m) Damage, Strike, Casualty. Any damage to, or loss,
theft, or destruction of, any Collateral not insured, or any strike,
lockout, labor dispute, embargo, condemnation, act of God or public enemy,
or other casualty which causes, for more than ten (10) consecutive days,
the cessation or substantial curtailment of revenue producing activities
at any Facility of Borrower or Guarantor, if any such event or
circumstance could reasonably be expected to result in a Material Adverse
Event; or
(n) Licenses and Permits. The loss, suspension or
revocation of, or failure to renew, any license, permit or other
governmental Authorization now held or hereafter acquired by the Borrower
or Guarantor that is required for either the Borrower or Guarantor to
conduct their business as presently conducted, which loss, suspension,
revocation, or failure to renew could reasonably be expected to result in
a Material Adverse Event; or
(o) Material Adverse Event. Any change in Guarantor's
business operations or Guarantor's use of the Mortgaged Properties which
change may reasonably be expected to result in a Material Adverse Event;
or
(p) Termination of Lease. Termination or condemnation of
any lease or that certain sublease between Guarantor and Borrower covering
the Mortgaged Property.
11.2 REMEDIES UPON DEFAULT.
(a) Debtor Relief. If a Default exists under SECTION
11.1(f) or 11.1(g), the commitment to extend credit hereunder shall
automatically terminate and the entire unpaid balance of the Obligation
shall automatically become due and payable without any action or notice of
any kind whatsoever.
(b) Other Defaults. If any Default exists, Administrative
Agent may (and, subject to the terms of SECTION 12, shall upon the request
of Required Lenders) or Required Lenders may,
Senior Secured Term Loan
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