Common use of Payment of Certain Obligations Clause in Contracts

Payment of Certain Obligations. Pay and discharge prior to delinquency all Federal and other material tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings promptly instituted and diligently conducted and adequate reserves in accordance with GAAP are being maintained by Borrower or its affected Subsidiary.

Payment of Certain Obligations. Pay and discharge prior to delinquency or otherwise satisfy before they become delinquent all Federal and other material tax Tax liabilities, assessments and governmental charges (other than Indebtedness) or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings promptly instituted and diligently conducted and adequate reserves in accordance with GAAP are being maintained by the Borrower or its affected such Subsidiary.