Non-Payment of Taxes. Either Borrower or any other Loan Party shall have failed to pay when due any Taxes or other charges of any Governmental Authority in excess of $250,000, except any such Taxes or other charges which are being diligently contested by it in good faith by appropriate proceedings which stay the enforcement of any Lien resulting from the non-payment thereof and for which adequate reserves in accordance with GAAP shall have been set aside on its books.
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Samples: Credit Agreement (CatchMark Timber Trust, Inc.), Credit Agreement (Wells Timberland REIT, Inc.), Credit Agreement (Wells Timberland REIT, Inc.)
Non-Payment of Taxes. Either Borrower Any Loan Party or any other Subsidiary of any Loan Party (other than any Unrestricted Timber Subsidiary) shall have failed to pay when due any Taxes or other charges of any Governmental Authority in excess of $250,000, except any such Taxes or other charges which are being diligently contested by it in good faith by appropriate proceedings which stay the enforcement of any Lien resulting from the non-payment thereof and for which adequate reserves in accordance with GAAP shall have been set aside on its books.
Appears in 2 contracts
Samples: Credit Agreement (CatchMark Timber Trust, Inc.), Credit Agreement (CatchMark Timber Trust, Inc.)
Non-Payment of Taxes. Either Borrower Any Loan Party or any other Subsidiary of any Loan Party (other than any Unrestricted Timber Subsidiary) shall have failed to pay when due any Taxes or other charges of any Governmental Authority in excess of $250,0001,000,000 in the aggregate, except any such Taxes or other charges which are being diligently contested by it in good faith by appropriate proceedings which stay the enforcement of any Lien resulting from the non-payment thereof and for which adequate reserves in accordance with GAAP shall have been set aside on its books.
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Non-Payment of Taxes. Either The Borrower or any other Loan Party of its Subsidiaries shall have failed to pay when due any Taxes taxes or other governmental charges of any Governmental Authority in excess of $250,0002,500,000, except any such Taxes taxes or other governmental charges which are being diligently contested by it in good faith by appropriate proceedings which stay the enforcement of any Lien resulting from the non-payment thereof and for which adequate reserves in accordance with GAAP shall have been set aside on its books.. SECTION 8.1.12
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Non-Payment of Taxes. Either Borrower or any other Loan Party The Borrowers and their Subsidiaries shall have failed to pay when due any Taxes taxes or other governmental charges of any Governmental Authority in excess of an aggregate amount of $250,000100,000, except any such Taxes taxes or other governmental charges which are being diligently contested by it them in good faith by appropriate proceedings which stay the enforcement of any Lien resulting from the non-payment thereof and for which adequate reserves in accordance with GAAP shall have been set aside on its their books.
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Samples: Security Agreement (Us Automotive Manufacturing Inc)
Non-Payment of Taxes. Either Borrower Any Loan Party or any other Loan Party of its Subsidiaries shall have failed to pay when due any Taxes or other charges of any Governmental Authority in excess of $250,0001,000,000, except any such Taxes or other charges which are being diligently contested by it in good faith by appropriate proceedings which stay the enforcement of any Lien resulting from the non-payment thereof and for which adequate reserves in accordance with GAAP shall have been set aside on its books.
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Samples: Credit Agreement (Lannett Co Inc)
Non-Payment of Taxes. Either The Borrower or any other Loan Party shall have failed to pay when due any Taxes taxes or other governmental charges of any Governmental Authority in excess of $250,000100,000, except any such Taxes taxes or other governmental charges which are being diligently contested by it in good faith by appropriate proceedings which stay the enforcement of any Lien resulting from the non-payment thereof and for which adequate reserves in accordance with GAAP shall have been set aside on its books.
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