Common use of Covenants of Company Clause in Contracts

Covenants of Company. A. The Company covenants and agrees that, so long as this Note shall be outstanding, it will: (i) Promptly pay and discharge all lawful taxes, assessments and governmental charges or levies imposed upon the Company or upon its income and profits, or upon any of its property, before the same shall become in default, as well as all lawful claims for labor, materials and supplies which, if unpaid, might become a lien or charge upon such properties or any part thereof, provided, however, that the Company shall not be required to pay and discharge any such tax, assessment, charge, levy or claim so long as the validity thereof shall be contested in good faith by appropriate proceedings and the Company shall set aside on its books adequate reserves with respect to any such tax, assessment, charge, levy or claim so contested. (ii) Do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, rights and franchises and comply with all laws applicable to the Company as its counsel may advise; (iii) Keep adequately insured, by financially sound reputable insurers, all property of a character usually insured by similar corporations and carry such other insurance as is usually carried by similar corporations; and (iv) At all times keep true and correct books, records and accounts.

Covenants of Company. A. The Company covenants and agrees that, so long as this Note shall be outstanding, it will: (i) Promptly pay and discharge all lawful taxes, assessments and governmental charges or levies imposed upon the Company or upon its income and profits, or upon any of its property, before the same shall become in default, as well as all lawful claims for labor, materials and supplies which, if unpaid, might become a lien or charge upon such properties or any part thereof, provided, however, that the Company shall not be required to pay and discharge any such tax, assessment, charge, levy or claim so long as the validity thereof shall be contested in good faith by appropriate proceedings and the Company shall set aside on its books adequate reserves with respect to any such tax, assessment, charge, levy or claim so contested. (ii) Do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, rights and franchises and comply with all laws applicable to the Company as its counsel may advise;, (iii) Keep adequately insured, by financially sound reputable insurers, all property of a character usually insured by similar corporations and carry such other insurance as is usually carried by similar corporations; and (iv) At all times keep true and correct books, records and accounts.

Covenants of Company. A. The Company covenants and agrees that, so long as this Note shall be outstanding, it will: (i) Promptly pay and discharge all lawful taxes, assessments and governmental charges or levies imposed upon the Company or upon its income and profits, or upon any of its property, before the same shall become in default, as well as all lawful claims for labor, materials and supplies which, if unpaid, might become a lien or charge upon such properties or any part thereof, provided, however, that the Company shall not be required to pay and discharge any such tax, assessment, charge, levy or claim so long as the validity thereof shall be contested in good faith by appropriate proceedings and the Company shall set aside on its books adequate reserves with respect to any such tax, assessment, charge, levy or claim so contested. (ii) Do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, rights and franchises and comply with all laws applicable to the Company as its counsel may advise;, (iii) Keep adequately insured, by financially sound reputable insurers, all property of a character usually insured by similar corporations and carry such other insurance as is usually carried by similar corporations; corporations and (iv) At all times keep true and correct books, records and accounts.

Covenants of Company. A. a. The Company covenants and agrees that, so long as this Note shall be outstanding, it will: (i) Promptly pay and discharge all lawful taxes, assessments and governmental charges or levies imposed upon the Company or upon its income and profits, or upon any of its property, before the same shall become in defaulta lien upon the Company's assets or property, as well as all lawful claims for labor, materials and supplies which, if unpaid, might would become a lien or charge upon such properties or any part thereof, ; provided, however, that the Company shall not be required to pay and discharge any such tax, assessment, charge, levy or claim so long as the validity thereof shall be contested in good faith by appropriate proceedings and the Company shall set aside on its books adequate reserves with respect to any such tax, assessment, charge, levy or claim so contested.; (ii) Do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, rights and franchises and comply with all laws applicable to the Company as its counsel may advise; (iii) Keep adequately insuredAt all times maintain, by financially sound reputable insurerspreserve, protect and keep its property used and useful in the conduct of its business so that the business carried on in connection therewith may be properly and advantageously conducted in the ordinary course at all property of a character usually insured by similar corporations and carry such other insurance as is usually carried by similar corporations; andtimes; (iv) At all times keep true and correct books, records and accounts. b. Until repayment of this Note, the Company will not issue any dividends.

Covenants of Company. A. a. The Company covenants and agrees that, so long as this Note shall be outstanding, it will: (i) Promptly pay and discharge all lawful taxes, assessments and governmental charges or levies imposed upon the Company or upon its income and profits, or upon any of its property, before the same shall become in defaulta lien upon the Company's assets or property, as well as all lawful claims for labor, materials and supplies which, if unpaid, might would become a lien or charge upon such properties or any part thereof, ; provided, however, that the Company shall not be required to pay and discharge any such tax, assessment, charge, levy or claim so long as the validity thereof shall be contested in good faith by appropriate proceedings and the Company shall set aside on its books adequate reserves with respect to any such tax, assessment, charge, levy or claim so contested.; (ii) Do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, rights and franchises and comply with all laws applicable to the Company as its counsel may advise; (iii) At all times maintain, preserve, protect and keep its property used and useful in the conduct of its business so that the business carried on in connection therewith may be properly and advantageously conducted in the ordinary course at all times; (iv) Keep adequately insured, insured by financially sound reputable insurers, all property of a character usually insured by similar corporations in the same industry as the Company and carry such other insurance as is usually carried by similar corporationscorporations in the same industry; and (ivv) At all times keep true and correct books, records and accounts. (vi) The Company, during the term of the Note, cannot issue dividends.

Covenants of Company. A. (a) The Company covenants and agrees that, so long as this Note shall be outstanding, it the Company will: (i) Promptly pay and discharge all lawful taxes, assessments and governmental charges or levies imposed upon the Company or upon its income and profits, or upon any of its property, property before the same shall become in defaulta lien upon the Company's assets or property, as well as all lawful claims for labor, materials and supplies which, if unpaid, might would become a lien or charge upon such properties or any part thereof, ; provided, however, that the Company shall not be required to pay and discharge any such tax, assessment, charge, levy or claim so long as the validity thereof shall be contested in good faith by appropriate proceedings and the Company shall set aside on its books adequate reserves with respect to any such tax, assessment, charge, levy or claim so contested.; (ii) Do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, rights and franchises and comply with all laws applicable to the Company as its counsel may advise; (iii) At all times maintain, preserve, protect and keep its property used and useful in the conduct of its business so that the business carried on in connection therewith may be properly and advantageously conducted in the ordinary course at all times; (iv) Keep adequately insured, by financially sound reputable insurers, all property of a character usually insured by similar corporations and carry such other insurance as is usually carried by similar corporations; and (ivv) At all times keep true and correct books, records and accounts.