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

Payment of Indebtedness and Performance of Obligations. Pay and discharge promptly as and when due all lawful indebtedness, obligations and claims for labor, materials and supplies or otherwise (including, without limitation, Funded Debt) which, if unpaid, would (a) have a Material Adverse Effect, or (b) become a Lien not permitted by paragraph 8.2, provided that the Company shall 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 shall be contested in good faith and by appropriate proceedings diligently conducted by the Company, and further provided that such reserve or other appropriate provision as shall be required in accordance with GAAP shall have been made therefor.

Appears in 2 contracts

Samples: Credit Agreement (Green Mountain Power Corp), Credit Agreement (Green Mountain Power Corp)

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Payment of Indebtedness and Performance of Obligations. Pay and discharge promptly as and when due all lawful indebtedness, obligations and claims for labor, materials and supplies or otherwise (including, without limitation, Funded Debt) which, if unpaid, would (a) have a Material Adverse Effect, or (b) become a Lien lien not permitted by paragraph 8.211.2, provided that the Company Trust shall 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 shall be contested in good faith and by appropriate proceedings diligently conducted by the CompanyTrust, and further provided that such reserve or other appropriate provision as shall be required in accordance with GAAP shall have been made therefor. 11.12.

Appears in 1 contract

Samples: Revolving Credit Agreement (Colonial Gas Co)

Payment of Indebtedness and Performance of Obligations. Pay and discharge promptly as and when due all lawful indebtedness, obligations and claims for labor, materials and supplies or otherwise (including, without limitation, Funded Debt) which, if unpaid, would (a) have a Material Adverse Effect, or (b) become a Lien lien not permitted by paragraph 8.211.2, provided that the Company shall 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 shall be contested in good faith and by appropriate proceedings diligently conducted by the Company, and further provided that such reserve or other appropriate provision as shall be required in accordance with GAAP shall have been made therefor. 10.14.

Appears in 1 contract

Samples: Revolving Credit Agreement (Colonial Gas Co)

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Payment of Indebtedness and Performance of Obligations. Pay and discharge promptly as and when due all lawful indebtedness, obligations and claims for labor, materials and supplies or otherwise (including, without limitation, Funded Debt) which, if unpaid, would (a) have a Material Adverse Effect, or (b) become a Lien not permitted by paragraph Section 8.2, provided that the Company shall 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 shall be contested in good faith and by appropriate proceedings diligently conducted by the Company, and further provided that such reserve or other appropriate provision as shall be required in accordance with GAAP shall have been made therefor.

Appears in 1 contract

Samples: Credit Agreement (Green Mountain Power Corp)

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