Payment of Indebtedness and Performance of Obligations. Borrower will pay and discharge promptly all lawful Indebtedness, obligations and claims for labor, materials and supplies or otherwise which, if unpaid, could (i) have a Material Adverse Effect or (ii) become a Lien on its property (except as otherwise permitted by this Agreement), provided that Borrower will not be required to pay and discharge or cause to be paid and discharged any such Indebtedness, obligation or claim so long as the validity thereof is being contested in good faith and by appropriate proceedings diligently conducted by Borrower, and that such reserve or other appropriate provisions as are required by the Accountants in accordance with GAAP will have been made therefor.
Appears in 6 contracts
Samples: Secured Convertible Credit Facility and Security Agreement (Carecentric Inc), Secured Convertible Credit Facility and Security Agreement (Carecentric Inc), Secured Convertible Credit Facility and Security Agreement (Reed John E)
