Payment Of Liabilities To Third Persons. Each Borrower and each other Loan Party shall pay when and as due, or within applicable grace periods, all liabilities due to 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 it.
Appears in 6 contracts
Samples: Credit Agreement (Lazydays Holdings, Inc.), Credit Agreement (Lazydays Holdings, Inc.), Credit Agreement (Lazydays Holdings, Inc.)
Payment Of Liabilities To Third Persons. Each The Borrower and each other Loan Party shall pay when and as due, or within applicable grace periods, all liabilities due to third persons, which individually or in the aggregate have an unpaid amount exceeding the Threshold Amount, except when the amount thereof is being contested in good faith by appropriate proceedings and with adequate reserves therefor being set aside by it.
Appears in 2 contracts
Samples: Credit Agreement (Martek Biosciences Corp), Credit Agreement (Martek Biosciences Corp)
Payment Of Liabilities To Third Persons. Each The Borrower and each other Loan Party shall pay when and as due, or within applicable grace periods, all liabilities due to third persons, except when the amount thereof is being contested in good faith by appropriate proceedings (and with provided that adequate reserves therefor being set aside by itin accordance with GAAP are established and maintained) or the failure to pay could not reasonably be expected to result in a Material Adverse Event.
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