Common use of Contesting of Taxes and Certain Statutory Liens Clause in Contracts

Contesting of Taxes and Certain Statutory Liens. The Grantor may at its own expense contest the validity, amount or applicability of any Charges as long as the contest thereof shall be conducted in accordance with, and permitted pursuant to the provisions of, the Indenture. Notwithstanding the foregoing provisions of this Section 9.1, (i) no contest of any such obligations may be pursued by the Grantor (A) if such contest would expose the Beneficiary or any Holder to any possible criminal liability or (B) unless the Grantor shall have furnished a bond or other security therefor reasonably satisfactory to the Beneficiary or such Holder, as the case may be, any additional civil liability for failure to comply with such obligations and (ii) if at any time payment or performance of any obligation contested by the Grantor pursuant to this Section 9.1 shall become necessary to prevent the imminent imposition of remedies because of non-payment, the Grantor shall pay or perform the same in sufficient time to prevent the imposition of remedies in respect of such default or prospective default.

Contesting of Taxes and Certain Statutory Liens. The Each Grantor may at its own expense contest the validity, amount or applicability of any Charges as long as the contest thereof shall be conducted in accordance with, and permitted pursuant to the provisions of, the IndentureCredit Agreement. Notwithstanding the foregoing provisions of this Section 9.1, (i) no contest of any such obligations may be pursued by the such Grantor (A) if such contest would expose the Beneficiary or any Holder to any possible criminal liability or (B) unless the such Grantor shall have furnished a bond or other security therefor reasonably satisfactory to the Beneficiary or such HolderBeneficiary, as the case may be, any additional civil liability for failure to comply with such obligations and (ii) if at any time payment or performance of any obligation contested by the such Grantor pursuant to this Section 9.1 shall become necessary to prevent the imminent imposition of remedies because of non-payment, the such Grantor shall pay or perform the same in sufficient time to prevent the imposition of remedies in respect of such default or prospective default.