Common use of Obligations and Taxes Clause in Contracts

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company shall have set aside on its books adequate reserves with respect thereto.

Appears in 12 contracts

Samples: Credit Agreement (Harsco Corp), Credit Agreement (Harsco Corp), Five Year Credit Agreement (Harsco Corp)

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Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise whichthat, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower shall have set aside on its books adequate reserves with respect theretothereto in accordance with GAAP and such contest operates to suspend collection of the contested obligation, tax, assessment or charge and enforcement of a Lien.

Appears in 9 contracts

Samples: Credit Agreement (Clearlake Capital Partners, LLC), Credit Agreement (Fairchild Semiconductor International Inc), Credit Agreement (HFS Inc)

Obligations and Taxes. Pay its Material Indebtedness and other material obligations promptly and in accordance with their terms and pay and discharge promptly when due all material taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful material claims for labor, materials and supplies or otherwise whichthat, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower shall have set aside on its books adequate reserves with respect theretothereto in accordance with GAAP and such contest operates to suspend collection of the contested obligation, tax, assessment or charge and enforcement of a Lien.

Appears in 7 contracts

Samples: Credit Agreement (Cbre Holding Inc), Credit Agreement (Cb Richard Ellis Group Inc), Credit Agreement (Blum Capital Partners Lp)

Obligations and Taxes. Pay its Indebtedness and other material obligations promptly and in accordance with their terms and pay and discharge promptly when due all material taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise whichthat, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower shall have set aside on its books adequate reserves with respect theretothereto in accordance with GAAP.

Appears in 5 contracts

Samples: First Lien Credit Agreement (STR Holdings LLC), First Lien Credit Agreement (STR Holdings LLC), First Lien Credit Agreement (STR Holdings LLC)

Obligations and Taxes. Pay its Indebtedness and other material obligations promptly and in accordance with their terms and pay and discharge promptly when due all material taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise whichthat, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower shall have set aside on its books adequate reserves with respect thereto.thereto in accordance with GAAP

Appears in 5 contracts

Samples: Second Lien Credit Agreement (STR Holdings LLC), Second Lien Credit Agreement (STR Holdings (New) LLC), Second Lien Credit Agreement (STR Holdings LLC)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower shall have set aside on its books adequate reserves with respect theretothereto and such contest operates to suspend collection of the contested obligation, tax, assessment or charge and enforcement of a Lien.

Appears in 5 contracts

Samples: Credit Agreement (Popular Inc), 364 Day Credit Agreement (Popular Inc), 364 Day Credit Agreement (Popular Inc)

Obligations and Taxes. Pay its Material Indebtedness and other obligations promptly and in accordance with their its terms and pay and discharge promptly when due all taxesmaterial Taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise whichthat, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such taxTax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower shall have set aside on its books adequate reserves with respect theretothereto in accordance with GAAP.

Appears in 5 contracts

Samples: Credit Agreement (Blackline, Inc.), Credit Agreement (Blackline, Inc.), Credit Agreement (Blackline, Inc.)

Obligations and Taxes. Pay its material Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such Indebtedness, tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company or the Subsidiary, as the case may be, shall have set aside on its books adequate reserves with respect thereto.

Appears in 4 contracts

Samples: Merger Agreement (Equity Residential Properties Trust), Common Stock and Preferred Stock Purchase Agreement (Wellsford Real Properties Inc), Common Stock and Preferred Stock Purchase Agreement (Wellsford Real Properties Inc)

Obligations and Taxes. Pay its material Indebtedness and other material obligations promptly and in accordance with their terms in all material respects and pay and discharge promptly when due all material taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise whichthat, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, provided that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower shall have set aside on its books adequate reserves with respect theretothereto in accordance with GAAP.

Appears in 3 contracts

Samples: Credit Agreement (Boxed, Inc.), Second Lien Credit Agreement (Boxed, Inc.), Credit Agreement (Seven Oaks Acquisition Corp.)

Obligations and Taxes. Pay The Company shall pay all of its Indebtedness indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials labor and supplies or otherwise which, if unpaid, might give rise to become a Lien lien or charge upon such properties or any part thereof; provided, however, that such payment and discharge the Company shall not be required with respect to pay and discharge or to cause to be paid and discharged any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company shall have set aside on its books adequate such reserves as are required by generally accepted accounting principles with respect theretoto any such tax, assessment, charge, levy or claim so contested.

Appears in 3 contracts

Samples: Convertible Debenture Purchase Agreement (Air South Airlines Inc), Convertible Debenture Purchase Agreement (Air South Airlines Inc), Convertible Debenture Purchase Agreement (Air South Airlines Inc)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful and valid claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower or such Subsidiary shall have set aside on its books adequate reserves with respect thereto.

Appears in 3 contracts

Samples: Revolving Credit Facility Agreement (Choice Hotels Holdings Inc), Revolving Credit Facility Agreement (Choice Hotels Holdings Inc), Loan Agreement (Choice Hotels Holdings Inc)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise whichthat, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company applicable Borrower shall have set aside on its books adequate reserves with respect theretothereto in accordance with GAAP and such contest operates to suspend collection of the contested obligation, tax, assessment or charge and enforcement of a Lien.

Appears in 3 contracts

Samples: Credit Agreement (El Paso Electric Co /Tx/), Credit Agreement (El Paso Electric Co /Tx/), Credit Agreement (El Paso Electric Co /Tx/)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower shall have set aside on its books adequate whatever reserves are required in accordance with respect theretoGAAP.

Appears in 3 contracts

Samples: Revolving Credit and Letter of Credit Facility Agreement (Fingerhut Companies Inc), Revolving Credit and Letter of Credit Facility Agreement (Metris Companies Inc), Revolving Credit and Letter of Credit Facility Agreement (Fingerhut Companies Inc)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company shall have set aside on its books adequate reserves with respect thereto.

Appears in 2 contracts

Samples: Credit Agreement (Tredegar Corp), Revolving Credit Facility Agreement (Tredegar Industries Inc)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower and its Subsidiaries shall have set aside on its books aside, as reflected in their consolidated financial statements, adequate reserves with respect theretothereto in accordance with GAAP.

Appears in 2 contracts

Samples: Credit Agreement (Tredegar Corp), Credit Agreement (Tredegar Corp)

Obligations and Taxes. Pay its Indebtedness and obligations (other obligations than Indebtedness) promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, provided that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company shall have or such Subsidiary shall, to the extent required by GAAP applied on a consistent basis, set aside on its books adequate reserves with respect thereto.

Appears in 2 contracts

Samples: Credit Agreement (Cummins Inc), Credit Agreement (Cummins Inc)

Obligations and Taxes. Pay its Indebtedness and obligations (other obligations than Indebtedness) promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, PROVIDED that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company shall have or such Subsidiary shall, to the extent required by GAAP applied on a consistent basis, set aside on its books adequate reserves with respect thereto.

Appears in 2 contracts

Samples: Credit Agreement (Cummins Inc), Indenture (Cummins Inc)

Obligations and Taxes. Pay its Indebtedness indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower shall have set aside on its books reserves, if any, believed to be adequate reserves with respect thereto.

Appears in 2 contracts

Samples: Credit Agreement (Birner Dental Management Services Inc), Credit Agreement (Birner Dental Management Services Inc)

Obligations and Taxes. Pay The Company shall pay its Indebtedness debts and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company shall have set aside on its respective books adequate reserves with respect thereto.

Appears in 2 contracts

Samples: Securities Purchase Agreement (24/7 Media Inc), Securities Purchase Agreement (Celgene Corp /De/)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all material taxes, assessments and governmental charges or levies imposed upon it them or upon its their income or profits or in respect of its property, their properties before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise otherwise, which, if unpaid, might would reasonably be expected to give rise to Liens upon a Lien upon material portion of such properties or any part thereof(other than Permitted Liens); provided, however, provided that such payment and discharge the Loan Parties shall not be required with respect to pay and discharge or to cause to be paid and discharged any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Loan Parties shall have set aside on its their books adequate reserves with respect thereto.

Appears in 2 contracts

Samples: Credit Agreement (CreditCards.com, Inc.), Credit Agreement (CreditCards.com, Inc.)

Obligations and Taxes. Pay its Indebtedness and other obligations obliga tions promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower and such Subsidiaries shall have set aside on its their books adequate reserves with respect thereto.

Appears in 2 contracts

Samples: Senior Secured Term Loan Agreement (McDermott International Inc), Senior Secured Term Loan Agreement (McDermott International Inc)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company shall have or such Subsidiary shall, to the extent required by GAAP applied on a consistent basis, set aside on its books adequate reserves with respect thereto.

Appears in 2 contracts

Samples: Credit Agreement (Cummins Engine Co Inc), Credit Agreement (Cummins Engine Co Inc)

Obligations and Taxes. Pay its Indebtedness and other --------------------- obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; providedProvided, however, that such payment -------- and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower shall have set aside on its books adequate reserves with respect thereto.

Appears in 2 contracts

Samples: Credit Agreement (Celestial Seasonings Inc), Credit Agreement (Birner Dental Management Services Inc)

Obligations and Taxes. Pay all its Indebtedness and other material obligations promptly and in accordance with their terms and pay and discharge promptly when due all material taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, property before the same shall become delinquent or in default, as well as all material lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to would become a Lien or charge upon such properties or any part thereof; provided, however, that such payment and discharge the Borrowers shall not be required with respect to pay and discharge or to cause to be paid and discharged any such obligation, tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and (if the Company Borrowers shall have set aside on its their books adequate reserves with respect theretotherefor).

Appears in 1 contract

Samples: Revolving Credit Agreement (Systemax Inc)

Obligations and Taxes. Pay its Indebtedness debts and other ----------------------- obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its propertyProperty, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties Properties or any part thereof; provided, however, that such payment and discharge shall -------- ------- not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Corporation or such Subsidiary of the Corporation shall have set aside on its respective books adequate reserves with respect thereto.

Appears in 1 contract

Samples: Series B Preferred Stock Purchase Agreement (U Haul International Inc)

Obligations and Taxes. Pay its Indebtedness and other ---------------------- obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful and valid claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, -------- however, that such payment and discharge shall not be required with respect to ------- any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower or such Subsidiary shall have set aside on its books adequate reserves with respect thereto.

Appears in 1 contract

Samples: Credit Agreement (Sunburst Hospitality Corp)

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Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower or such Subsidiary of the Borrower shall have set aside on its respective books adequate reserves with respect thereto.

Appears in 1 contract

Samples: Credit Agreement (U Haul International Inc)

Obligations and Taxes. Pay all its Indebtedness and other material obligations promptly and in accordance with their terms and pay and discharge promptly when due all material taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, property before the same shall become delinquent or in default, as well as all material lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to become a Lien or charge upon such properties or any part thereof; provided, however, that such payment the Borrower and discharge its Subsidiaries shall not be required with respect to pay and discharge or to cause to be paid and discharged any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and (if the Company Borrower or such Subsidiary shall have set aside established on its books adequate reserves with respect theretotherefor).

Appears in 1 contract

Samples: Credit Agreement (Payless Cashways Inc)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower shall have set aside on its books adequate reserves with respect thereto.

Appears in 1 contract

Samples: Credit Agreement (Colorado Medtech Inc)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, default as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and or discharge shall not be required with respect to any such tax, assessment, assessment charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company shall have set aside on its books adequate reserves with respect theretothereto shall, to the extent required by GAAP, have been set aside.

Appears in 1 contract

Samples: 5 Year Competitive Advance and Revolving Credit Facility Agreement (American Bankers Insurance Group Inc)

Obligations and Taxes. Pay The Company shall pay all of its Indebtedness indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials labor and supplies or otherwise which, if unpaid, might give rise to become a Lien lien or charge upon such properties or of any part thereof; provided, however, that such payment and discharge the Company shall not be required with respect to pay and discharge or to cause to be paid and discharged any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company shall have set aside on its books adequate such reserves as are required by generally accepted accounting principles with respect theretoto any such tax, assessment, charge, levy or claim so contested.

Appears in 1 contract

Samples: Convertible Debenture Purchase Agreement (Air South Airlines Inc)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all material obligations incurred or arising, all sales tax and all material taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, property before the same shall become delinquent or in default, as well as all material lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to become a Lien or charge upon such properties or any part thereof; provided, however, that such payment it and discharge each Subsidiary shall not be required with respect to pay and discharge or to cause to be paid and discharged any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company for which Originator shall have set aside on its books adequate reserves with respect theretothereto in accordance with GAAP.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Central Freight Lines Inc/Tx)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all material obligations incurred or arising, all sales tax and all material taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, property before the same shall become delinquent or in default, as well as all material lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to become a Lien or charge upon such properties or any part thereof; provided, however, that such payment it and discharge each Subsidiary shall not be required with respect to pay and discharge or to cause to be paid and discharged any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company for which each Originator shall have set aside on its books adequate reserves with respect theretothereto in accordance with GAAP.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Covenant Transport Inc)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all material obligations, all sales tax and all material taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, property before the same shall become delinquent or in default, as well as all material lawful claims for labor, materials and supplies or otherwise 723474616 which, if unpaid, might give rise to become a Lien or charge upon such properties or any part thereof; provided, however, that such payment it and discharge each Subsidiary shall not be required with respect to pay and discharge or to cause to be paid and discharged any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and for which the Company Seller shall have set aside on its books adequate reserves with respect thereto.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Conns Inc)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise whichthat, if unpaid, might could reasonably be expected to give rise to a Lien upon such properties or any part thereof; , provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower shall have set aside on its books adequate reserves with respect theretothereto in accordance with GAAP and such contest operates to suspend collection of the contested obligation, tax, assessment or charge and enforcement of a Lien.

Appears in 1 contract

Samples: Credit Agreement (Bremen Bearings Inc)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance accor- dance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials materi- als and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company shall have set aside on its books adequate reserves with respect thereto.

Appears in 1 contract

Samples: Revolving Credit Facility Agreement (Tredegar Industries Inc)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company shall have set aside on its books adequate whatever reserves are required in accordance with respect theretoGAAP and cause each Subsidiary to do likewise.

Appears in 1 contract

Samples: Credit Agreement (Green Tree Financial Corp)

Obligations and Taxes. Pay its material Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien (other than a Lien permitted under this Agreement) upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such Indebtedness, tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower or the Subsidiary, as the case may be, shall have set aside on its books adequate reserves with respect thereto.

Appears in 1 contract

Samples: Credit Agreement (Aliant Communications Co)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise whichthat, if unpaid, might give rise to a Lien upon such properties or any part thereof; providedPROVIDED, howeverHOWEVER, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower shall have set aside on its books adequate reserves with respect thereto.

Appears in 1 contract

Samples: Credit Agreement (Arm Financial Group Inc)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company shall have set aside on its books adequate reserves with respect thereto.. 69 63

Appears in 1 contract

Samples: 364 Day Credit Agreement (Harsco Corp)

Obligations and Taxes. Pay The Company shall pay all of its Indebtedness indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials labor and supplies or otherwise which, if unpaid, might give rise to become a Lien lien or charge upon such properties or any part thereof; , provided, however, that such payment and discharge the Company shall not be required with respect to pay and discharge or to cause to be paid and discharged any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company shall have set aside on its books adequate such reserves as are required by generally accepted accounting principles with respect theretoto any such tax, assessment, charge, levy or claim so contested.

Appears in 1 contract

Samples: Convertible Debenture Purchase Agreement (Air South Airlines Inc)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful and valid claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company or such Subsidiary shall have set aside on its books adequate reserves with respect thereto.

Appears in 1 contract

Samples: Competitive Advance and Multi Currency Revolving Credit Facility Agreement (Manor Care Inc/New)

Obligations and Taxes. Pay its Indebtedness and other obligations promptly and in accordance with their terms and pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such tax, assessment, charge, levy or claim so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Company Borrower shall have set aside on its books adequate reserves with respect theretothereto in accordance with GAAP.

Appears in 1 contract

Samples: Credit Agreement (Tredegar Corp)

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