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2.2 Enter into any :.?erger or consolidation with any
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other party, or lease or sell all or substantially
all of its assets or business;
~ 2.3 Retire, purchase or redeem any capital stock of
the CO:tPA;3Y nor or hereafter issued and outstanding;
- 2.4 Reclassify, reorganize, recapitalize or in any
~ay change the present capital and stock structure _
of the COMPANY, or issue any additional shares of
stock of the CO?~iPAiVY; . .
2.5 Dissolve or liquidate the CUMPANY unless the
~ conditions and provisions in Paragraph 4 of tlie
Agreement of Sale dated _~(p.~.,Q , 1974
- are fully complied with and met;
. 2.6 Pay compensation or reimburse expenses to the
_ officers of the COMP.~\~t which in the aggregate are ~
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more than the total a.-~ount of compensation and re-
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imbursed expenses paid to the officers of the CO~i- -
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~ PANY with respect to the last full fiscal year of
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; the COMPANY i~ediately preceding the date hereof.
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~ In the event of default in the payment of any installment of in-
~ terest or principal, or in the event of default in the perfoYmance of
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~ any oEher of the covenants and conditions of this note, and the continu-
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~ ance of such default after thirty (30) days written notice thereof to the
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~ undersigned, or in thefevent the undersigned or the CO~SPANY be the sub- ;
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~ ject of any insolvency or debtor's proceeding comr.enced in good faith ?
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~ and on reasonable cause, or in•the event that any foreclosure proceeding
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" is instituted against any of the CO`f?~.~fY'S assets, or any ~execution run
- against or lien placed on any of said assets, or in the event that the
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~ BOOK 236 PACE 314 '
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