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ARTICLE IX <br /> EVENTS OF DEFAULT AND REMEDIES <br /> Section 9 . 1 . Events of Default Defined. The terms "event <br /> of default" and "default" shall mean any one or more of the <br /> following events : <br /> (a) The failure by the Company to make any payment <br /> when due under the Note or under this Agreement within 10 <br /> days of its due date. <br /> (b) The occurrence of an event of default under any of <br /> the Bond Documents. <br /> (c) The breach by the Company of any of its repre- <br /> sentations or warranties contained in Section 2 . 2 . <br /> (d) If a final judgment, which with other outstanding <br /> final judgments against the Company or any Affiliate exceeds <br /> an aggregate of $25, 000, shall be rendered against the <br /> Company or any Affiliate and if within sixty ( 60 ) days after <br /> entry thereof such judgment shall not have been discharged <br /> or execution thereof stayed pending appeal, or if within <br /> sixty ( 60) days after the expiration of any such stay such <br /> judgment shall not have been discharged. <br /> (e) The Company shall become insolvent, or admit in <br /> writing its inability to pay its debts as they mature, or <br /> make an assignment for the benefit of creditors, or apply <br /> for or consent to the appointment of a receiver, custodian <br /> or trustee for it or for a substantial part of its property <br /> or business, or such a receiver , custodian or trustee <br /> otherwise shall be appointed; the Company shall fail <br /> promptly to lift or suspend any execution, garnishment or <br /> attachment of such consequence as will impair the ability of <br /> the Company to complete the Project or to carry on its <br /> operations; bankruptcy, insolvency, reorganization or <br /> liquidation proceedings or other proceedings for relief <br /> under any bankruptcy law or any law for the relief of <br /> debtors shall be instituted by or against the Company <br /> (provided, however, that if such proceedings shall be <br /> commenced without the application or consent of the Company, <br /> the Company shall have a period of 60 days from the com- <br /> mencement of such proceedings to have such proceedings <br /> dismissed) ; or the dissolution or liquidation of the <br /> Company, in whole or in part. <br /> 28. <br />