Common use of Payment of Indebtedness, Taxes, Etc Clause in Contracts

Payment of Indebtedness, Taxes, Etc. Each of the Borrowers ----------------------------------- shall, and (to the extent of its right to do so) shall cause each Consolidated Entity to, (a) pay its indebtedness and obligations in accordance with its terms except to the extent the failure to do so would not be reasonably likely to have a Material Adverse Effect and (b) pay and discharge or cause to be paid and discharged promptly all taxes, assessments and other charges or levies of Governmental Authorities imposed upon it or upon its income and profits or upon any of its properties before the same shall become in default, as well as all lawful claims for labor, materials and supplies or otherwise, which, if unpaid, might become a Lien upon such properties or any part thereof except to the extent the failure to do so would not be reasonably likely to have a Material Adverse Effect; provided, however, that Hibbett and the other Consolidated -------- ------- Entities shall not be required to pay and discharge or cause to be paid and discharged any such indebtedness, obligation, tax, assessment, charge, levy or claim so long as the validity or amount thereof is being duly contested in good faith by appropriate proceedings and Hibbett and the Consolidated Entities shall maintain adequate reserves for such taxes, indebtedness, obligations, assessments, charges, levies or claims during such proceedings.

Payment of Indebtedness, Taxes, Etc. Each of the Borrowers ----------------------------------- shall, and (to the extent of its right to do so) shall cause each Consolidated Entity to, (a) pay its Pay all indebtedness and obligations in accordance with its terms obligations, now existing or hereafter arising, as and when due and payable except to the extent where the failure to do so would make such payment pending such contest could not reasonably be reasonably likely expected to have a Material Adverse Effect Effect, and (b) pay and discharge or cause to be paid and discharged promptly all taxes, assessments and other government charges or levies of Governmental Authorities imposed upon it or upon its income and profits profits, or upon any of its properties property, real, personal or mixed, or upon any part thereof, before the same shall become in default, as well as all lawful claims for labor, materials and supplies or otherwise, otherwise which, if unpaid, might become a Lien or charge upon such properties or any part thereof except to the extent the failure to do so would not be reasonably likely to have a Material Adverse Effectthereof; provided, however, that Hibbett and none of the other Consolidated -------- ------- Entities Co-Borrowers nor any of their Subsidiaries shall not be required to pay and discharge or cause to be paid and discharged any such indebtedness, obligation, tax, assessment, charge, levy or claim so long as the validity or amount thereof is being duly shall be contested in good faith by appropriate proceedings and Hibbett proceedings, and the Consolidated Entities relevant Co-Borrower or Subsidiary, as the case may be, shall maintain have set aside on its books adequate reserves for determined in accordance with GAAP with respect to any such tax, assessment, charge, levy or claim so contested and; further, provided that, subject to the foregoing proviso, each Co-Borrower and each of its Subsidiaries will pay or cause to be paid all such taxes, indebtedness, obligations, assessments, charges, levies or claims during such proceedingsupon the commencement of proceedings to foreclose any lien which has attached as security therefor.

Payment of Indebtedness, Taxes, Etc. Each of the Borrowers ----------------------------------- shall, and (to the extent of its right to do so) shall cause each Consolidated Entity to, (a) pay its indebtedness and obligations in accordance with its terms except to the extent the failure to do so would not be reasonably likely to have a Material Adverse Effect and (b) pay and discharge or cause to be paid and discharged promptly all taxes, assessments and other charges or levies of Governmental Authorities imposed upon it or upon its income and profits or upon any of its properties before the same shall become in default, as well as all lawful claims for labor, materials and supplies or otherwise, which, if unpaid, might become a Lien upon such properties or any part thereof except to the extent the failure to do so would not be reasonably likely to have a Material Adverse Effect; provided, however, that Hibbett and the other Consolidated -------- ------- Entities shall not be required to pay and discharge or cause to be paid and discharged any such indebtedness, obligation, tax, assessment, charge, levy or claim so long as the validity or amount thereof is being duly contested in good faith by appropriate proceedings and Hibbett and the Consolidated Entities shall maintain adequate reserves for such taxes, indebtedness, obligations, assessments, charges, levies or claims during such proceedings.the

Payment of Indebtedness, Taxes, Etc. Each of the Borrowers ----------------------------------- shall, and (to the extent of its right to do so) shall cause each Consolidated Entity to, (a) pay its Pay all indebtedness and obligations in accordance with its terms obligations, including, but not limited to, all principal and interest on the Notes, whether now existing or hereafter arising, as and when due and payable except to the extent where the failure to do so would make such payment pending such contest could not reasonably be reasonably likely expected to have a Material Adverse Effect Effect, and (b) pay and discharge or cause to be paid and discharged promptly all taxes, assessments and other government charges or levies of Governmental Authorities imposed upon it or upon its income and profits profits, or upon any of its properties property, real, personal or mixed, or upon any part thereof, before the same shall become in default, as well as all lawful claims for labor, materials and supplies or otherwise, otherwise which, if unpaid, might become a Lien or charge upon such properties or any part thereof except to the extent the failure to do so would not be reasonably likely to have a Material Adverse Effectthereof; provided, however, that Hibbett and none of the other Consolidated -------- ------- Entities Co-Borrowers nor any of their Subsidiaries shall not be required to pay and discharge or cause to be paid and discharged any such indebtedness, obligation, tax, assessment, charge, levy or claim so long as (i) the validity or amount thereof is being duly shall be contested in good faith by appropriate proceedings and Hibbett proceedings, and the Consolidated Entities relevant Co-Borrower or Subsidiary, as the case may be, shall maintain have set aside on its books adequate reserves for determined in accordance with GAAP with respect to any such tax, assessment, charge, levy or claim so contested, or (ii) the amount thereof is less than $100,000, in the aggregate, and; further, provided that, subject to the foregoing proviso, each Co-Borrower and each of its Subsidiaries will pay or cause to be paid all such taxes, indebtedness, obligations, assessments, charges, levies or claims during such proceedingsupon the commencement of proceedings to foreclose any lien which has attached as security therefor.