or order shall remain in effect for sixty (60) days; or
(iv) There exists the issuance of an attachment, garnishment or similar
process against any substantial part of the property of Purchaser and such attachment,
garnishment or other similar process shall not be dismissed within sixty (60) days unless
Purchaser shall contest the validity of such action by appropriate proceedings taken in good
faith within the sixty (60) day period; or
{v) The occurrence of any event, which with the passage of time or otherwise,
would become an event of default under any other agreement, note, lease, mortgage or
obligation to which Purchaser is a party, unless any such event of défault shall be timely cured
under any applicable cure provision, but without regard to any waiver by any other person of
any event of default; or
(vi) Purchaser shall admit in writing that it is unable to meet its current
financial obligations.
2.5 Termination for Cause by Purchaser. Purchaser shall have the option to
immediately terminate this Agreement upon the occurrence of any of the following:
(i) HPHC shall violate any covenant of this Agreement and/or any other “~
agreement that is mentioned herein and shall fail to cure such violation within thirty (80) days
after written notice thereof, or
(ii) HPHC shall make an assignment for the benefit of creditors or apply to
any tribunal for the appointment of a trustee or receiver for any substantial part of its assets, or
cause to be commenced any proceeding relating to it under any bankruptcy, reorganization,
arrangement, insolvency, readjustment of debt, cissonuen or liquidation laws of any
jurisdiction; or
(iii) If any such application shall be filed or any such proceedings commenced
against HPHC by any other party or an order shall be entered at the instance of any other party
appointing any such trustee or receiver, or adjudicating HPHC a bankrupt or insolvent, or
approving a petition in any such proceedings, and such application, proceedings, or order shall
remain in effect for sixty (60) days; or
(iv) There exists the issuance of an attachment, garnishment or similar
process against any substantial part of the property of HPHC and such attachment,
garnishment or other similar process shail not be dismissed within sixty (60) days unless
HPHC shail contest the validity of such action by appropriate proceedings taken in good faith
within the sixty (60) day period; or
{v) The occurrence of any event, which with the passage of time or otherwise,
would become an event of default under any other agreement, note, lease, mortgage or
obligation to which HPHC is a party, unless any such event of default shall be timely cured
under any applicable cure provision, but without regard to any waiver by any person of any
event of default; or
2.6 Termination Upon Amendment of Service Fees. HPHC may terminate this
Agreement in accordance with the provisions of section 1.5 of the Agreement.
FORM#PSO1 08/17/2002
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