Permitted Events of Default

Permitted Events of Default. Means the Events of Default arising under the Loan Documents arising from (i) the failure of the Florida Finance Borrowers to make payments as required by the Florida Finance Loan Documents or to maintain their solvency, (ii) all other breaches of covenants, warranties and representations respecting the Florida Finance Borrowers that necessarily arise from the Events of Default described in subsection (i) (but specifically not including any Event of Default arising from the commencement of any... case under any chapter of the Bankruptcy Code), (iii) Events of Default arising under the Paaco Loan Documents arising from the foregoing Events of Default respecting the Florida Finance Borrowers and their common guarantors, and (iv) the failure of the Obligors to make the payment of principal, interest and expenses due upon the acceleration of the maturity of the Obligations. View More