3Taxes. The Company shall and shall cause the Bank and any other of its Subsidiaries to promptly pay and discharge all taxes, assessments and other governmental charges imposed upon the Company, the Bank or any other of its Subsidiaries or upon the income, profits, or property of the Company or any Subsidiary and all claims for labor, material or supplies which, if unpaid, might by law become a lien or charge upon the property of the Company, the Bank or any other of its Subsidiaries. Notwithstanding the foregoing, none of the Company, the Bank or any other of its Subsidiaries shall be required to pay any such tax, assessment, charge or claim, so long as the validity thereof shall be contested in good faith by appropriate proceedings, and appropriate reserves therefor shall be maintained on the books of the Company, the Bank or such other Subsidiary, as the case may be.
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Samples: Subordinated Note Purchase Agreement (Sierra Bancorp), Subordinated Note Purchase Agreement (Old Second Bancorp Inc)
3Taxes. The Company shall shall, and shall cause the Bank and any other of its their Subsidiaries to to, promptly pay and discharge (i) all taxes, assessments and other governmental charges imposed upon the Company, the Bank or any other of its their Subsidiaries or upon the income, profits, or property of the Company Company, Bank or any Subsidiary of their Subsidiaries and (ii) all claims for labor, material or supplies whichthat, if unpaid, might by law become a lien or charge upon the property of the Company, the Bank or any other of its their Subsidiaries. Notwithstanding the foregoing, none of the Company, the Bank or any other of its their Subsidiaries shall be required to pay any such tax, assessment, charge or claim, so long as the validity thereof shall be is being contested in good faith by appropriate proceedings, and appropriate reserves therefor shall be maintained on the books of the Company, the Bank or and such other Subsidiary, as the case may be.
Appears in 1 contract
Samples: Subordinated Note Purchase Agreement (C & F Financial Corp)
3Taxes. The Company shall and shall cause the Bank and any other of its Subsidiaries to promptly pay and discharge all taxes, assessments and other governmental charges imposed upon the Company, the Bank or any other of its Subsidiaries or upon the income, profits, or property of the Company or any Subsidiary and all claims for labor, material or supplies which, if unpaid, might by law become a material lien or charge upon the property of the Company, the Bank or any other of its Subsidiaries. Notwithstanding the foregoing, none of the Company, the Bank or any other of its Subsidiaries shall be required to pay any such tax, assessment, charge or claim, so long as the validity thereof shall be contested in good faith by appropriate proceedings, and appropriate reserves therefor shall be maintained on the books of the Company, the Bank or and such other Subsidiary, as the case may be.
Appears in 1 contract
Samples: Senior Note Purchase Agreement (Citizens & Northern Corp)
3Taxes. The Company shall and shall cause the Bank and any other of its other Subsidiaries to promptly pay and discharge all taxes, assessments and other governmental charges imposed upon the Company, the Bank or any other of its other Subsidiaries or upon the income, profits, or property of the Company or any Subsidiary and all claims for labor, material or supplies whichthat, if unpaid, might by law become a lien or charge upon the property of the Company, the Bank or any other of its other Subsidiaries. Notwithstanding the foregoing, none of the Company, the Bank or any other of its other Subsidiaries shall be required to pay any such tax, assessment, charge or claim, so long as the validity thereof shall be contested in good faith by appropriate proceedings, and appropriate reserves therefor shall be maintained on the books of the Company, the Bank or and such other Subsidiary, as the case may be.
Appears in 1 contract
Samples: Subordinated Note Purchase Agreement (Citizens & Northern Corp)
3Taxes. The Company shall and shall cause the Bank Banks and any other of its Subsidiaries to promptly pay and discharge all taxes, assessments and other governmental charges imposed upon the Company, the Bank Banks or any other of its Subsidiaries or upon the income, profits, or property of the Company or any Subsidiary and all claims for labor, material or supplies which, if unpaid, might by law become a lien or charge upon the property of the Company, the Bank Banks or any other of its Subsidiaries. Notwithstanding the foregoing, none of the Company, the Bank Banks or any other of its Subsidiaries shall be required to pay any such tax, assessment, charge or claim, so long as the validity thereof shall be contested in good faith by appropriate proceedings, and appropriate reserves therefor shall be maintained on the books of the Company, the Bank or Banks and such other Subsidiary, as the case may be.
Appears in 1 contract
Samples: Subordinated Note Purchase Agreement (HBT Financial, Inc.)