Payment of Indebtedness to Third Persons. The Borrower shall pay when and as due, or within applicable grace periods, all Indebtedness due third persons, except when the amount thereof is being contested in good faith by appropriate proceedings and with adequate reserves therefor being set aside by the Borrower.
Appears in 5 contracts
Samples: Security Agreement (Majestic Companies LTD), Security Agreement (Majestic Safe-T-Products LTD), Security Agreement (Majestic Safe-T-Products LTD)
Payment of Indebtedness to Third Persons. The Borrower and the Land Owner shall generally pay when and as due, or within any applicable grace periods, all Indebtedness indebtedness due third personsPersons, except when the amount thereof is being contested in good faith by appropriate proceedings and with adequate reserves therefor being set aside by the Borrowerit.
Appears in 2 contracts
Samples: Construction Loan Agreement, Construction Loan Agreement (Hemagen Diagnostics Inc)
Payment of Indebtedness to Third Persons. The Borrower shall pay when and as due, or within applicable grace periods, all Indebtedness due third personsPersons, except when the amount thereof is being contested in good faith by appropriate proceedings and with adequate reserves therefor being set aside by the Borrower.
Appears in 1 contract
Samples: Loan and Security Agreement (Hemagen Diagnostics Inc)
