SECTION 8.03. Covenants. The Company should fail to perform or comply with any
covenant set forth in Article 5 hereof (other than Sections 5.01, 5.06(F) and 5.10) and such failure
continues for 30 days after written notice thereof shall have been delivered to the Company by CoBank.
SECTION 8.04. Other Covenants and Agreements. The Company should fail to perform or
comply with Sections 5.01, 5.06(F) or 5.10, or any other covenant or agreement contained herein or in
any Promissory Note and Supplement, or shall use the proceeds of any loan for any unauthorized
purpose.
SECTION 8.05. Cross Default. The Company should, after any applicable grace period,
breach or be in default under the terms of any other Loan Document, any other agreement with CoBank,
or any agreement with any affiliate of CoBank, including the Farm Credit Leasing Services Corporation.
SECTION 8.06. Other Indebtedness. The Company should fail to pay when due any
indebtedness to any other person or entity for borrowed money or any long-term obligation for the
deferred purchase price of property (including any capitalized lease), or any other event occurs which,
under any agreement or instrument relating to such indebtedness or obligation, has the effect of
accelerating or permitting the acceleration of such indebtedness or obligation, whether or not such
indebtedness or obligation is actually accelerated or the right to accelerate is conditioned on the giving of
notice, the passage of time, or otherwise.
SECTION 8.07. Judgments. A judgment, decree, or order for the payment of money shall
have been rendered against the Company and either: (A) enforcement proceedings shall have becn
commenced; (B) a Lien having priority over any Lien of CoBank shall have been obtained; or (C) such
judgment, decree, or order shall continue unsatisfied and in effect for a period of 30 consecutive days
without being vacated, bonded, discharged, satisfied, or stayed pending appeal.
SECTION 8.08. Insolvency, Etc. The Company shall: (A) become insolvent or shall
generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts as they become
duc; or (B) suspend its business operations or a material part thereof, or (C) apply for, consent to, or
acquiesce in the appointment of a trustee, receiver, or other custodian for it or any of its property; or (D)
have commenced against it any action or proceeding for the appointment of a trustee, receiver, or other
custodian, or a trustee, receiver, or other custodian is appointed for all or any part of its property; (E)
have commenced against it any proceeding under any bankruptcy, reorganization, arrangement,
readjustment of debt, dissolution, or liquidation law of any jurisdiction; or (F) make an assignment for
the benefit of creditors or commence any proceeding under any bankruptcy, reorganization, arrangement,
readjustment of debt, dissolution, or liquidation law of any jurisdiction.
SECTION 8.09. Casualty or Condemnation. All or a material portion of the assets of the
Company: (A) are destroyed in a casualty or like event (regardless of the cause); or (B) are actually taken
in a condemnation action or proceeding or in a like proceeding or are sold or otherwise transferred in lieu
thereof or pursuant to any right of any governmental authority to direct the sale of transfer thereof.
SECTION 8.10. Material Adverse Change. Any material adverse change occurs, as
reasonably determined by CoBank, in the condition, financial or otherwise, operations, business or
properties of the Company or in its ability to perform its obligations hereunder, under any security
instrument or document, or under any other Loan Document.
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