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(w) Borrower shall conduct its business so that the assumptions made with respect to Borrower in the Non - Consolidation Opinion shall be true and correct in all respects. (x) If Borrower is a Delaware statutory trust, the trustee serving as its Delaware resident trustee must have a net worth reasonably satisfactory to Lender; provided that, a net worth equal to $250,000,000 shall be deemed to be reasonably satisfactory to Lender. 21. Events of Default. Each of the following events constitutes an event of default ( "Event of Default "): (a) (b) (c) subject to the provisions of paragraph 3(d) hereof, if (i) the Policies are not kept in full force and effect or (ii) within ten (10) days following written demand, Borrower shall fail to cause the delivery of any such Policies or a certificate, binder or other evidence of the renewal of any such Policies to Lender; (f) (g) (d) if Borrower violates or does not comply with the provisions of subparagraphs 7(b)(iv), 7(b)(v), 7(b)(vi) or 7(b)(vii); (e) if Borrower transfers or encumbers the Mortgaged Property or any interest therein in violation of the provisions of paragraph 9 hereof; if Borrower breaches the provisions of paragraph 20 hereof; if any representation or warranty of Borrower, or any guarantor, made herein or in any certificate, report, financial statement or other instrument or document furnished to Lender by or on behalf of Borrower shall prove to have been false or misleading in any material respect when made or if any of the assumptions in the Non - Consolidation Opinion shall be or become inaccurate; (h) if Borrower shall make a general assignment for the benefit of creditors or if Borrower shall generally not be paying its debts as they become due; (i) 201400400 under the terms of any certificate of incorporation, by -laws, voting trust agreement with respect to any common stock or other economic ownership interest, or limited liability company agreement requires the unanimous vote of the board of directors or board of managers, as applicable, of Borrower or the general partners of Borrower or the SPC Member, as applicable, unless at the time of such action there shall be at least one member who is an Independent Person. if any portion of the Debt is not paid within five (5) days from the date it was due; subject to the provisions of paragraph 4(b) hereof, if Taxes are not paid before they become delinquent, or Other Charges or other sums due hereunder are not paid when due, and Borrower fails to cure after ten (10) days after the earlier of notice or actual knowledge thereof; if a receiver, liquidator or trustee of Borrower shall be appointed or if Borrower shall be adjudicated a bankrupt or insolvent, or if any petition for bankruptcy, reorganization