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200907310 Section 5.01. Events of Default. Each of the following shall be an "Event of Default": (A) default shall be made in the payment of any amount due under any Obligation; (B) default shall be made in the due observance ar performance of any of the covenants, conditions or agreements on the part of the Grantor, and such default shall continue for a period of thirty (30) days after written notice specifying such default and requiring the same to be remedied shall have been given to the Grantor by the Beneficiary; (C) any representation or warranty made by the Grantor herein, or in any certificate, instrument or document delivered hereunder, shall prove to be false or misleading in any material respect on or as of the date made; (D) an "Event of Default" shall have occurred under any of the Credit Agreements or, in the event any of the Credit Agreements da not contain specified "Events of Default," the Grantor shall have failed to comply with any of the covenants and obligations set forth in the Credit Agreements; (E) an event of damage, destruction or loss or a taking under the power of eminent domain or like power (ar transfer in lieu of such taking) shall have had, in the judgment of the Beneficiary, a material adverse effect an the ability of the Grantor to pay or perform the Obligations; (F) a sale, lease or other disposition prohibited by Section 5.09 below. (G) Grantor shall assert the invalidity or unenforceability of any of the Credit Agreements, or any other instrument given by Grantor as security for payment of the Obligations. Section 5.02. Acceleration of Maturity. If an Event of Default shall have occurred and be continuing, the Beneficiary may declare the Obligations to be due and payable immediately by a notice in writing to the Grantor, and upon such declaration, all Obligations shall become due and payable immediately, anything contained herein or in the Credit Agreements to the contrary notwithstanding. Section 5.03. Remedies of the Beneficiary. If one or more Events of Default shall occur and be continuing, the Beneficiary (personally or by attorney), in its discretion, may: (A) take immediate possession of the Trust Estate, collect and receive all credits, outstanding accounts and bills receivable of the Grantor and all rents, income, revenues, profits and proceeds pertaining to or arising from the Trust Estate, or any part thereof, whether then past due or accruing thereafter, and issue binding receipts therefor; and manage, control and operate the Trust Estate as fully as the Grantor might do if in possession thereof, including, without limitation, the making of all repairs or replacements deemed necessary or advisable; rs