Common use of Compliance with Laws; Taxes Clause in Contracts

Compliance with Laws; Taxes. Borrower and Servicer shall comply with all Applicable Laws, including laws regarding collection and payment of Taxes, and pay and discharge all Taxes prior to the date on which they become delinquent or penalties attach (unless such Taxes are being Properly Contested) and maintain all approvals from all governmental authorities necessary to the ownership of its Properties or conduct of its business, except where the failure to do so would not reasonably be expected to result in a Material Adverse Effect, and, without limiting the generality of the foregoing, act promptly and diligently to make appropriate remedial actions with respect to any Environmental Laws, whether or not directed to do so by any governmental authority. If an Account includes a charge for any Taxes, Agent is authorized, in its discretion, to pay the amount thereof to the proper taxing authority for the account of Borrower and to charge Borrower therefor; provided, however, that neither Agent nor Lenders shall be liable for any Taxes that may be due from Borrower or with respect to any Collateral.

Compliance with Laws; Taxes. Borrower and Servicer shall comply Comply with all Applicable Laws, including laws regarding collection and payment of Taxes, and pay and discharge all Taxes prior to the date on which they become delinquent or penalties attach (unless such Taxes are being Properly Contested) and maintain all approvals from all governmental authorities necessary to the ownership of its Properties or conduct of its business, except where the failure to do so would not reasonably be expected to result in a Material Adverse Effect, and, without limiting the generality of the foregoing, act promptly and diligently to make appropriate remedial actions with respect to any Environmental Laws and other Applicable Laws, whether or not directed to do so by any governmental authority. If a Borrower Royalty Receivable or an Account that constitutes Customer Collateral includes a charge for any Taxes, Agent is authorized, in its discretion, to pay the amount thereof to the proper taxing authority for the account of the applicable Borrower and the applicable Customer and to charge Borrower Borrowers therefor; provided, however, that neither Agent nor Lenders shall be liable for any Taxes that may be due from any Borrower or any Customer or with respect to any Collateral (including any Borrower Royalty Receivables) or Customer Collateral.