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ARTICLE VI: EVENTS OF DEFAULT <br />The Loan and the interest <br />and payable pursuant to Section 1.( <br />or demand of any kind or any prese <br />(hereinafter an Event of Default) shy <br />whether voluntarily or involuntarily, ~ <br />of law or pursuant to or in complian~ <br />body, provided, however, that such <br />been waived, or time for making Re <br />SECTION 6.01 INCORRECT REP <br />n accrued thereon, shall become and be immediately due <br />upon the written demand of City, without any other notice <br />Iment or protest, if any one of the following events <br />I occur and be continuing at the time of such demand, <br />without limitation, occurring or brought about by operation <br />with any judgment, decree or order of any court or any <br />am shall not be then payable if Recipient's payments have <br />pient's payments has been extended by City: <br />ENTATION OR WARRANTY <br />Any representation or warra ty contained in, or made in connection with the execution <br />and delivery of this Agreement, or i any certificate or statement furnished pursuant hereto, shall <br />prove to have been incorrect when ade in any material respect. <br />SECTION 6.02 DEFAULT IN COVENANTS <br />Recipient shall default in the <br />contained in this Agreement, and su <br />written notice thereof shall have bee <br />default cannot reasonably be cured <br />explanation of proposed efforts to c~ <br />explanation by City, Recipient shall c <br />cure. <br />SECTION 6.03 VOLUNTARY INSC <br />:rtormance of any. other term, covenant, or agreement <br />~ default shall continue unremitting for thirty (30) days after <br />given to Recipient by City, provided, however, that if such <br />30 days, Recipient shall provide City with a written <br />the default and within five (5) days after approval of such <br />mrnence to cure and thereafter diligently pursue such <br />VENCY <br />If the Recipient shall become insolvent or shall cease to pay its debt as they mature or <br />shall voluntarily file a petition seekin reorganization of, or the appointment of a receiver, <br />trustee, or liquidation for it or a subs antial portion of its assets, or to effect a plan or other <br />arrangement with creditors, or shall a adjudicated bankrupt, or shall make voluntary <br />assignment for the benefit of credito s. <br />SECTION 6.04 INVOLUNTARY INSOLVENCY <br />An insolvency petition shall b <br />or similar law or seeking the reorgan <br />liquidator for Recipient, or of a subst; <br />warrant of attachment or similar proc <br />property of Recipient, and such petiti <br />attachment or similar process shall n <br />of levy. <br />filed against Recipient under any bankruptcy, insolvency, <br />ration of or the appointment of any receiver, trustee, or <br />ntial part of the property of the Recipient's, or a writ or <br />:ss shall be issued against a substantial part of the <br />m shall not be dismissed, or such writ or warrant of <br />~t be released or bonded, within sixty (60) days after filing <br />9 <br />