FairPoint Communications 2002 Annual Report Download - page 337

(i) the full and prompt payment when due (whether at the stated
maturity, by acceleration or otherwise) of all obligations (including
obligations which, but for the automatic stay under Section 362(a) of the
Bankruptcy Code, would become due) and liabilities of the Borrower (in the
case of the Borrower or an NSG Pledgor) or such Pledgor (in the case of a
Pledgor that is a Subsidiary Guarantor), now existing or hereafter incurred
under, arising out of or in connection with any Credit Document to which
the Borrower or such Pledgor, as the case may be, is a party (including, in
the case of a Pledgor that is a Subsidiary Guarantor, all such obligations
of such Pledgor under its Subsidiary Guaranty) and the due performance of
and compliance by the Borrower or such Pledgor, as the case may be, with
the terms of each such Credit Document (all such obligations and
liabilities under this clause (i), except to the extent consisting of
obligations or indebtedness with respect to Secured Interest Rate
Agreements, being herein collectively called the "CREDIT DOCUMENT
OBLIGATIONS");
(ii) the full and prompt payment when due (whether at the stated
maturity, by acceleration or otherwise) of all obligations (including
obligations which, but for the automatic stay under Section 362(a) of the
Bankruptcy Code, would become due) and liabilities of the Borrower (in the
case of an NSG Pledgor) or such Pledgor (in the case of any Pledgor that is
a Subsidiary Guarantor), now existing or hereafter incurred under, arising
out of or in connection with any Secured Interest Rate Agreement (all such
obligations and liabilities under this clause (ii) being herein
collectively called the "INTEREST RATE OBLIGATIONS");
(iii) any and all sums advanced by the Pledgee in order to preserve
the Collateral (as hereinafter defined) and/or its security interest
therein;
(iv) in the event of any proceeding for the collection of the
Obligations (as defined below) or the enforcement of this Agreement, after
an Event of Default (such term, as used in this Agreement, shall mean any
Event of Default under the Credit Agreement or any payment default by the
Borrower under any Secured Interest Rate Agreement after the expiration of
any applicable grace period) shall have occurred and be continuing, the
reasonable expenses of retaking, holding, preparing for sale or lease,
selling or otherwise disposing of or realizing on the Collateral, or of any
exercise by the
EXHIBIT G
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Pledgee of its rights hereunder, together with reasonable attorneys' fees
and court costs; and
(v) all amounts paid by any Secured Creditor as to which such
Secured Creditor has the right to reimbursement under Section 11 of this
Agreement;
all such obligations, liabilities, sums and expenses set forth in clauses (i)
through (v) of this Section 1 being herein collectively called the
"OBLIGATIONS".
2. DEFINITION OF STOCK, NOTES, PARTNERSHIP INTERESTS, MEMBERSHIP
INTERESTS, SECURITIES, ETC. The following capitalized terms used herein shall
have the definitions specified below:
"CERTIFICATED SECURITY" shall have the meaning given such term in
Section 8-102(a)(4) of the UCC.
"CLEARING CORPORATION" shall have the meaning given such term in
Section 8-102(a)(5) of the UCC.