Common use of Payment of Assessments and Charges Clause in Contracts

Payment of Assessments and Charges. Pay all taxes, assessments, governmental charges, rent, and other Indebtedness which, if unpaid, might become a Lien against the Property of the Borrower and/or the Co-Borrowers, except any of the foregoing being contested in good faith and as to which adequate reserve in accordance with GAAP has been established or unless failure to pay would not have a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (Southern Mineral Corp), Credit Agreement (Southern Mineral Corp)

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Payment of Assessments and Charges. Pay all taxes, assessments, governmental charges, rent, and other Indebtedness which, if unpaid, might become a Lien against the Property of the Borrower and/or the Co-BorrowersGuarantor, except any of the foregoing being contested in good faith and as to which adequate reserve in accordance with GAAP has been established or unless failure to pay would not have a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (KCS Energy Inc), Guaranty (KCS Energy Inc)

Payment of Assessments and Charges. Pay all taxes, assessments, governmental charges, rent, rent and other Indebtedness which, if unpaid, might become a Lien against the any Property of the Borrower and/or the Co-BorrowersBorrower, except any of the foregoing being contested in good faith and as to which adequate reserve in accordance with GAAP has been established or unless failure to pay would not have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (NiMin Energy Corp.)

Payment of Assessments and Charges. Pay all taxes, assessments, governmental charges, rent, rent and other Indebtedness which, if unpaid, might become a Lien against the Mortgaged Property or other Property of the Borrower and/or the Co-Borrowers, except any of the foregoing being contested in good faith and as to which adequate reserve in accordance with GAAP and GAAS has been established or unless failure to pay would not have a Material Adverse Effectestablished.

Appears in 1 contract

Samples: Credit Agreement (Alamco Inc)

Payment of Assessments and Charges. Pay all taxes, assessments, governmental charges, rent, and other Indebtedness which, if unpaid, might become a Lien against the Property of the Borrower and/or the Co-Borrowersor any of its Subsidiaries, except any of the foregoing being contested in good faith and as to which adequate reserve reserves in accordance with GAAP has have been established or unless failure to pay would not have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Midcoast Energy Resources Inc)

Payment of Assessments and Charges. Pay all taxesTaxes, assessments, governmental charges, rent, rent and other Indebtedness which, if unpaid, might become a Lien against the any Property of the Borrower and/or the Co-Borrowers, except any of the foregoing being contested in good faith and as to which an adequate reserve in accordance with GAAP has been established or unless failure to pay would not have a Material Adverse Effect.

Appears in 1 contract

Samples: Term Loan Agreement (Viking Energy Group, Inc.)

Payment of Assessments and Charges. Pay all taxes, assessments, ---------------------------------- governmental charges, rent, and other Indebtedness which, if unpaid, might become a Lien against the Property of the Borrower and/or the Co-BorrowersBorrower, except any of the foregoing being contested in good faith and as to which adequate reserve in accordance with GAAP has been established or unless failure to pay would not have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Southern Mineral Corp)

Payment of Assessments and Charges. Pay Each of the Guarantor and the Borrower shall pay all taxes, assessments, governmental charges, rent, and other Indebtedness which, if unpaid, might become a Lien against the Property of the Borrower and/or Guarantor or the Co-BorrowersBorrower, except any of the foregoing being contested in good faith and as to which adequate reserve in accordance with GAAP has been established or unless failure to pay would not have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Petroquest Energy Inc)

Payment of Assessments and Charges. Pay all taxes, assessments, ---------------------------------- governmental charges, rent, and other Indebtedness which, if unpaid, might become a Lien against the Property of the Borrower and/or the Co-BorrowersBorrower, except for Permitted Liens and any of the foregoing being contested in good faith and as to which adequate reserve in accordance with GAAP has been established or unless failure to pay would not have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Sheridan Energy Inc)

Payment of Assessments and Charges. Pay all taxes, assessments, governmental charges, rent, and other Indebtedness which, if unpaid, might become a Lien against the Property of the Borrower and/or the Co-Co- Borrowers, except any of the foregoing being contested in good faith and as to which adequate reserve in accordance with GAAP has been established or unless failure to pay would not have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Southern Mineral Corp)

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Payment of Assessments and Charges. Pay all taxes, assessments, ---------------------------------- governmental charges, rent, and other Indebtedness which, if unpaid, might become a Lien against the Property of the Borrower and/or the Co-BorrowersGuarantor, except any of the foregoing being contested in good faith and as to which adequate reserve in accordance with GAAP has been established or unless failure to pay would could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Pendaries Petroleum LTD)

Payment of Assessments and Charges. Pay all taxes, assessments, governmental charges, rent, and other Indebtedness which, if unpaid, might become result in a Lien against the Property of the Borrower and/or the Co-Borrowerseither Borrower, except any of the foregoing being contested in good faith and as to which adequate reserve in accordance with GAAP has been established or unless failure to pay would could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Stratum Holdings, Inc.)

Payment of Assessments and Charges. Pay all taxes, assessments, governmental charges, rent, and other Indebtedness which, if unpaid, might become a Lien against the Property of the a Borrower and/or the Co-Borrowersor a Guarantor, except any of the foregoing being contested in good faith and as to which adequate reserve reserves in accordance with GAAP has have been established or unless failure to pay would not have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Edge Petroleum Corp)

Payment of Assessments and Charges. Pay all taxes, assessments, governmental charges, rent, and other Indebtedness indebtedness which, if unpaid, might become a Lien against the Property of the Borrower and/or the Co-BorrowersBorrower, except any of the foregoing being contested in good faith and as to which adequate reserve in accordance with GAAP has been established or unless failure to pay would not have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (NPC Holdings Inc)

Payment of Assessments and Charges. Pay all taxes, assessments, governmental charges, rent, and other Indebtedness which, if unpaid, might become a Lien against the Property of the Borrower and/or or any Subsidiary of the Co-BorrowersBorrower, except any of the foregoing being contested in good faith and as to which adequate reserve in accordance with GAAP has been established or unless failure to pay would not have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (KCS Energy Inc)

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