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-Borrowersa Borrower, 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, Material rent, and other Indebtedness lawful Material claims for labor, materials and supplies which, if unpaid, might become by law a Lien against the Property of the Borrower and/or the Co-Borrowersand Guarantors, 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 (Egan Hub Partners Lp)

Payment of Assessments and Charges. Pay all taxes, assessments, governmental charges, rent, and other Indebtedness which, if unpaid, might become a Lien (other than a Permitted 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 the failure to pay would make any such payments, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (KCS Energy Inc)

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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-Borrowers, 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: Assignment and Acceptance Agreement (Texoil Inc /Nv/)

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