Common use of Payment of Indebtedness and Performance of Obligations Clause in Contracts

Payment of Indebtedness and Performance of Obligations. Pay and discharge when due, and cause each of its Subsidiaries to pay and discharge, all lawful Indebtedness, obligations and claims for labor, materials and supplies or otherwise that, if unpaid, could reasonably be expected to (i) have a Material Adverse Effect or (ii) become a Lien upon Property of the Borrower or any of its Subsidiaries in excess of $1,000,000 on an aggregate consolidated basis for the Borrower and its Subsidiaries, other than a Permitted Lien, unless and to the extent only that the validity of such Indebtedness, obligation or claim shall be contested in good faith and by appropriate proceedings diligently conducted by it, provided that the Borrower shall give the Administrative Agent prompt notice of any such contest and that such reserve or other appropriate provision as shall be required by the Accountants in accordance with GAAP shall have been made therefor.

Appears in 2 contracts

Samples: Term Loan Agreement (Total Renal Care Holdings Inc), Term Loan Agreement (Total Renal Care Holdings Inc)

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Payment of Indebtedness and Performance of Obligations. Pay and discharge when due, and cause each of its Subsidiaries to pay and dischargedischarge when due, all lawful Indebtedness, obligations and claims for labor, materials and supplies or otherwise that, if unpaid, could reasonably be expected to (i) have a Material Adverse Effect or (ii) become a Lien upon Property of the Borrower or any of its Subsidiaries in excess of $1,000,000 on an aggregate consolidated basis for the Borrower and its Subsidiaries, other than a Permitted Lien, unless and to the extent only that the validity of such Indebtedness, obligation or claim shall be contested in good faith and by appropriate proceedings diligently conducted by it, provided that the Borrower shall give the Administrative Agent prompt notice of any such contest and that such reserve or other appropriate provision as shall be required by the Accountants in accordance with GAAP shall have been made therefor.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Total Renal Care Holdings Inc), Term Loan Agreement (Total Renal Care Holdings Inc)

Payment of Indebtedness and Performance of Obligations. Pay The Borrower shall pay and discharge when due, and cause each of its the Material Subsidiaries to pay and dischargedischarge when due, all lawful Indebtedness, obligations and claims for labor, materials and supplies or otherwise thatwhich, if unpaid, could could, individually or collectively reasonably be expected to (i) have a Material Adverse Effect or (ii) become a Lien upon Property of the Borrower or any of its the Material Subsidiaries in excess of $1,000,000 on an aggregate consolidated basis for the Borrower and its Subsidiaries, (other than a Permitted Lien), unless and to the extent only that the validity of such Indebtedness, obligation or claim shall be contested in good faith and by appropriate proceedings diligently conducted by itconducted, provided that the Borrower shall give the Administrative Agent prompt notice of any such contest and that such reserve or other appropriate provision as shall be required by the Accountants in accordance with GAAP shall have been made therefor.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Cleco Corp)

Payment of Indebtedness and Performance of Obligations. Pay The Borrower shall pay and discharge when due, and cause each of its the Restricted Subsidiaries to pay and dischargedischarge when due, all lawful Indebtedness, obligations and claims for labor, materials and supplies or otherwise thatwhich, if unpaid, could individually or collectively reasonably be expected to (i) have a Material Adverse Effect or (ii) become a Lien upon Property of the Borrower or any of its the Restricted Subsidiaries in excess of $1,000,000 on an aggregate consolidated basis for the Borrower and its Subsidiaries, (other than a Permitted Lien), unless and to the extent only that the validity of such Indebtedness, obligation or claim shall be contested in good faith and by appropriate proceedings diligently conducted by itconducted, provided that the Borrower shall give the Administrative Agent prompt notice of any such contest and that such reserve or other appropriate provision as shall be required by the Accountants in accordance with GAAP shall have been made therefor.

Appears in 1 contract

Samples: Credit Agreement (Cleco Power LLC)

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Payment of Indebtedness and Performance of Obligations. Pay and discharge when due, and cause each of its Subsidiaries to pay and discharge, all lawful Indebtedness, obligations and claims for labor, materials and supplies or otherwise that(which, if unpaid, could reasonably be expected to might (i) have a Material Adverse Effect Effect, or (ii) become a Lien upon Property of the Borrower or any of its Subsidiaries in excess of $1,000,000 on an aggregate consolidated basis for the Borrower and its Subsidiaries, other than a Permitted Lien, unless and (except to the extent only that the validity of any such Indebtedness, obligation obligations or claim shall be claims are being contested in good faith and by the Borrower or any of its Subsidiaries by appropriate proceedings diligently conducted by itthe Borrower or such Subsidiary, and provided that the Borrower shall give the Administrative Agent prompt notice of any such contest and that such reserve or other appropriate provision as shall be required by the Accountants in accordance with GAAP shall have been made therefor).

Appears in 1 contract

Samples: Credit Agreement (Ects a Scenic Technology Co Inc)

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