Payment of Indebtedness to Third Persons. Borrower will, and will cause each Subsidiary to, pay, when due, all Indebtedness and any other liability due third persons, except when the amount thereof is being contested in good faith by appropriate proceedings and with adequate reserves therefor satisfactory to DFS in accordance with GAAP being set aside by Borrower or such Subsidiary. DFS will use reasonable efforts to attempt to give Borrower notice before DFS requires Borrower to set aside additional reserves.
Appears in 5 contracts
Samples: Credit and Security Agreement (Creative Computers Inc), Credit and Security Agreement (Pomeroy Computer Resources Inc), Loan and Security Agreement (Rdo Equipment Co)
Payment of Indebtedness to Third Persons. Borrower will, ----------------------------------------- and will cause each Subsidiary to, pay, when due, all Indebtedness and any other liability due third persons, except when the amount thereof is being contested in good faith by appropriate proceedings and with adequate reserves therefor satisfactory to DFS in accordance with GAAP being set aside by Borrower or such Subsidiary. DFS will use reasonable efforts to attempt to give Borrower notice before DFS requires Borrower to set aside additional reserves.
Appears in 1 contract
Samples: Credit and Security Agreement (Pomeroy Computer Resources Inc)
Payment of Indebtedness to Third Persons. Borrower will, and will cause each Subsidiary to, pay, when due, all Indebtedness and any other liability due third persons, except when the amount thereof is being contested in good faith by appropriate proceedings and with adequate reserves therefor satisfactory to DFS in accordance with GAAP being set aside by Borrower or such Subsidiary. DFS will use reasonable efforts to attempt to shall give Borrower notice before DFS requires Borrower to set aside additional reserves.
Appears in 1 contract
Samples: Gt Bicycles Inc