Common use of Debts, Guaranties and Other Obligations Clause in Contracts

Debts, Guaranties and Other Obligations. Borrowers will not incur, create, assume or in any manner become or be liable in respect of any indebtedness, direct or contingent, except for: (a) The Indebtedness to the Bank under this Agreement; (b) The Subordinated Debt; (c) Trade payables or non-material operating leases from time to time incurred in the ordinary course of business; and (d) Taxes, assessments or other government charges which are not yet due or are being contested in good faith by appropriate action promptly initiated and diligently conducted, if such reserve as shall be required by generally accepted accounting principles shall have been made therefor.

Debts, Guaranties and Other Obligations. Borrowers will not incur, create, assume or in any manner become or be liable in respect of any indebtedness, direct or contingent, except for: (a) The Indebtedness to the Bank under this Agreement; (b) The Subordinated Debt; (c) Trade payables or non-material operating leases from time to time incurred in the ordinary course of business; and, (dc) Taxes, assessments or other government charges which are not yet due or are being contested in good faith by appropriate action promptly initiated and diligently conducted, if such reserve as shall be required by generally accepted accounting principles shall have been made therefor.

Debts, Guaranties and Other Obligations. Borrowers Borrower will not incur, create, assume or in any manner become or be liable in respect of any indebtedness, direct or contingent, except for: (a) The Indebtedness to the Bank under this Agreement; (b) The Subordinated Debt; (c) Trade payables or non-material operating leases from time to time incurred in the ordinary course of business; and, (dc) Taxes, assessments or other government charges which are not yet due or are being contested in good faith by appropriate action promptly initiated and diligently conducted, if such reserve as shall be required by generally accepted accounting principles shall have been made therefor.

Debts, Guaranties and Other Obligations. Borrowers The Borrower and the Guarantor will not incur, create, assume or in any manner become or be liable in respect of any indebtednessAdditional Debt, direct or contingent, except for: (a) The Indebtedness to the Bank under this Agreement; (b) The Subordinated Debt; (c) Trade payables or non-material operating and facility leases from time to time incurred in the ordinary course of business; andor (dc) Taxes, assessments or other government charges which are not yet due or are being contested in good faith by appropriate action promptly initiated and diligently conducted, if such reserve as shall be required by generally accepted accounting principles shall have been made therefor.