Common use of Governmental Charges and Other Indebtedness Clause in Contracts

Governmental Charges and Other Indebtedness. Borrower and its Subsidiaries shall promptly pay and discharge when due (i) all taxes and other Governmental Charges prior to the date upon which penalties accrue thereon, (ii) all indebtedness which, if unpaid, could become a Lien upon the property of Borrower or its Material Subsidiaries and (iii) subject to any subordination provisions applicable thereto, all other Indebtedness which in each case, if unpaid, is reasonably likely to have a Material Adverse Effect, except such Indebtedness as may in good faith be contested or disputed, or for which arrangements for deferred payment have been made, provided that in each such case appropriate reserves are maintained to the reasonable satisfaction of Administrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (Adobe Systems Inc), Credit Agreement (Adobe Systems Inc)

AutoNDA by SimpleDocs

Governmental Charges and Other Indebtedness. Each Borrower and its their Subsidiaries shall promptly pay and discharge when due (i) all taxes and other Governmental Charges prior to the date upon which penalties accrue thereon, (ii) all indebtedness which, if unpaid, could become a Lien upon the property of such Borrower or its Material Subsidiaries and (iii) subject to any subordination provisions applicable thereto, all other Indebtedness Indebtedness, which in each case, if unpaid, is reasonably and substantially likely to have a Material Adverse Effect, except such Indebtedness as may in good faith be contested or disputed, or for which arrangements for deferred payment have been made, provided that in each such case appropriate reserves are maintained to the reasonable satisfaction of Administrative Agentin accordance with GAAP.

Appears in 2 contracts

Samples: Credit Agreement (Flextronics International LTD), Credit Agreement (Flextronics International LTD)

Governmental Charges and Other Indebtedness. Borrower and its Subsidiaries shall promptly pay and discharge when due (i) all taxes and other Governmental Charges prior to the date upon which penalties accrue thereon, (ii) all indebtedness which, if unpaid, could become a Lien upon the property of Borrower or its Material Subsidiaries and (iii) subject to any subordination provisions applicable thereto, all other Indebtedness which in each casewhich, if unpaid, is reasonably likely to have a Material Adverse Effect, except such Indebtedness as may in good faith be contested or disputed, or for which arrangements for deferred payment have been made, provided that in each such case appropriate reserves as required by GAAP are maintained to the reasonable satisfaction of Administrative Agentmaintained.

Appears in 1 contract

Samples: Credit Agreement (Novellus Systems Inc)

Governmental Charges and Other Indebtedness. Borrower Tenant and its Subsidiaries shall promptly pay and discharge when due (i) all taxes and other Governmental Charges prior to the date upon which penalties accrue thereon, (ii) all indebtedness which, if unpaid, could become a Lien upon the property of Borrower Tenant or its Material Subsidiaries and (iii) subject to any subordination provisions applicable thereto, all other Indebtedness which in each case, if unpaid, is reasonably likely to have a Material Adverse Effect, except such Indebtedness as may in good faith be contested or disputed, or for which arrangements for deferred payment have been made, provided that in each such case appropriate reserves are maintained to the reasonable satisfaction of Landlord and Administrative Agent.

Appears in 1 contract

Samples: Master Lease of Land and Improvements (Adobe Systems Inc)

Governmental Charges and Other Indebtedness. Each Borrower and its Subsidiaries shall promptly pay and discharge when due (i) all taxes and other Governmental Charges prior to the date upon which penalties accrue thereon, (ii) all indebtedness which, if unpaid, could become a Lien upon the property of such Borrower or its Material Subsidiaries and (iii) subject to any subordination provisions applicable thereto, all other Indebtedness Indebtedness, which in each case, if unpaid, is reasonably likely to have a Material Adverse Effect, except such Indebtedness as may in good faith be contested or disputed, or for which arrangements for deferred payment have been made, provided that in each such case appropriate reserves are maintained to the reasonable satisfaction of Administrative Agentin accordance with GAAP.

Appears in 1 contract

Samples: Credit Agreement (Nu Skin Asia Pacific Inc)

Governmental Charges and Other Indebtedness. Borrower Tenant and its Subsidiaries shall promptly pay and discharge when due (i) all taxes and other Governmental Charges prior to the date upon which penalties accrue thereon, (ii) all indebtedness Indebtedness which, if unpaid, could become a Lien upon the property of Borrower Tenant or its Material Subsidiaries and (iii) subject to any subordination provisions applicable thereto, all other Indebtedness which in each case, if unpaid, is reasonably likely to have a Material Adverse Effect, except such Indebtedness as may in good faith be contested or disputed, or for which arrangements for deferred payment have been made, provided that in each such case appropriate reserves are maintained to the reasonable satisfaction of Landlord and Administrative Agent.

Appears in 1 contract

Samples: Master Lease of Land and Improvements (Adobe Systems Inc)

Governmental Charges and Other Indebtedness. Borrower The Lessee and its Subsidiaries shall promptly pay and discharge when due (i) all taxes Taxes and other Governmental Charges prior to the date upon which penalties accrue thereon, (ii) all indebtedness which, if unpaid, could become a Lien upon the property of Borrower the Lessee or its Material Subsidiaries and (iii) subject to any subordination provisions applicable thereto, all other Indebtedness which in each case, if unpaid, is reasonably likely to have a Material Adverse Effect, except such Indebtedness as may in good faith be contested or disputed, or for which arrangements for deferred payment have been made, provided provided, that in each such case appropriate reserves are maintained to the reasonable satisfaction of the Administrative Agent.

Appears in 1 contract

Samples: Participation Agreement (Adobe Systems Inc)

AutoNDA by SimpleDocs

Governmental Charges and Other Indebtedness. Borrower and its Subsidiaries shall promptly pay and discharge when due (i) all taxes and other Governmental Charges prior to the date upon which penalties accrue thereon, (ii) all indebtedness which, if unpaid, could become a Lien upon the property of Borrower or its Material Subsidiaries and (iii) subject to any subordination provisions applicable thereto, all other Indebtedness Indebtedness, which in each case, if unpaid, is reasonably and substantially likely to have a Material Adverse Effect, except such Indebtedness as may in good faith be contested or disputed, or for which arrangements for deferred payment have been made, provided that in each such case appropriate reserves are maintained to the reasonable satisfaction of Administrative Agentin accordance with GAAP.

Appears in 1 contract

Samples: Credit Agreement (Flextronics International LTD)

Governmental Charges and Other Indebtedness. Borrower Lessee and its Material Subsidiaries shall promptly pay and discharge when due (i) all taxes and other Governmental Charges prior to the date upon which penalties accrue thereon, (ii) all indebtedness which, if unpaid, could become a Lien upon the property of Borrower Lessee or its Material Subsidiaries (other than Liens permitted under Subparagraph 5.02(b)) and (iii) subject to any subordination provisions applicable thereto, all other Indebtedness which indebtedness which, in each case, if unpaid, is reasonably likely to have a Material Adverse Effect, except such Indebtedness as may in good faith be contested or disputed, or for which arrangements for deferred payment have been made, provided that in each such case appropriate reserves are maintained to the reasonable satisfaction of Administrative Agent.

Appears in 1 contract

Samples: Participation Agreement (Silicon Valley Group Inc)

Governmental Charges and Other Indebtedness. Each Borrower and its Subsidiaries shall promptly pay and discharge when due (i) all taxes and other Governmental Charges prior to the date upon which penalties accrue thereon, (ii) all indebtedness which, if unpaid, could become a Lien upon the property of such Borrower or its Material Subsidiaries and (iii) subject to any subordination provisions applicable thereto, all other Indebtedness Indebtedness, which in each case, if unpaid, is reasonably and substantially likely to have a Material Adverse Effect, except such Indebtedness as may in good faith be contested or disputed, or for which arrangements for deferred payment have been made, provided that in each such case appropriate reserves are maintained to the reasonable satisfaction of Administrative Agentin accordance with GAAP.

Appears in 1 contract

Samples: Credit Agreement (Flextronics International LTD)

Governmental Charges and Other Indebtedness. Borrower and its Material Subsidiaries shall promptly pay and discharge when due (i) all taxes and other Governmental Charges prior to the date upon which penalties accrue thereon, (ii) all indebtedness which, if unpaid, could become a Lien upon the property of Borrower or its Material Subsidiaries and (other than Liens permitted under Subparagraph 5.02(b))and (iii) subject to any subordination provisions applicable thereto, all other Indebtedness which indebtedness which, in each case, if unpaid, is reasonably likely to have a Material Adverse Effect, except such Indebtedness as may in good faith be contested or disputed, or for which arrangements for deferred payment have been made, provided that in each such case appropriate reserves are maintained to the reasonable satisfaction of Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Silicon Valley Group Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!