SEC Filings

AMSURG CORP filed this Form 10-12G on 03/11/1997
Entire Document
<PAGE>   33

         holder or holders of Debt in excess of an aggregate amount equal to
         $500,000 to cause such Debt or security, or a portion thereof, to
         become due prior to its stated maturity or prior to its regularly
         scheduled dates of payment; or

                 (i)      Undischarged Judgments. If a judgment for the payment
         of money in excess of $500,000 in the aggregate is rendered by any
         court or other governmental authority against Borrower, any
         Subsidiary, any Partnership, and/or any LLC which is not fully covered
         by valid collectible insurance (subject, however to a reasonable
         deductible); or

                 (j)      Violation of Laws, Etc.  Borrower, any Subsidiary,
         any Partnership, or any LLC violates or otherwise fails to comply with
         any law, rule, regulation, decree, order, or judgment under the laws
         of the United States of America, or of any state or jurisdiction
         thereof which violation or failure has a material, adverse effect on
         Borrower, any Subsidiary, any Partnership, or any LLC; or Borrower
         fails or refuses at any and all times to remain current in its or
         their financial reporting requirements pursuant to such laws, rules,
         and regulations or pursuant to the rules and regulations of any
         exchange upon which any shares of Borrower are traded.

                 (k)      Dissolution of Partnerships, Subsidiaries, or LLC's.
         Should any Partnership, Subsidiary, or LLC be dissolved prior to
         repayment of all amounts owed by such Partnership, Subsidiary, or LLC
         to Borrower.

                 (l)      Change of Ownership.  Should the majority of stock of
         Borrower cease to be owned by American Healthcorp, Inc. unless
         otherwise approved in writing by Borrower; provided that this
         provision shall not be violated in the event that the stock of the
         Borrower is sold pursuant to an IPO transaction, or if American
         Healthcorp, Inc. distributes stock of Borrower to shareholders of
         American Healthcorp, Inc.

         Section 8.02 Remedies. Upon the happening of any Event of Default set
forth above, with the exception of those events set forth in Section
8.01(d) and 8.01(e): (i) Lender may declare the entire principal amount of all
Indebtedness then outstanding, including interest accrued thereon, to be
immediately due and payable without presentment, demand, protest, notice of
protest, or dishonor or other notice of default of any kind, all of which
Borrower hereby expressly waives, (ii) at Lender's sole discretion and option,
all obligations of Lender under this Agreement shall immediately cease and
terminate unless and until Lender shall reinstate such obligations in writing,
(iii) Lender may exercise all rights against Collateral set forth in the
Security Documents or afforded a creditor under applicable law; or (iv) Lender
may bring an action to protect or enforce its rights under the Loan Documents or
seek to collect the Indebtedness and/or enforce the Obligations by any lawful