Payment of Material Obligations. Guarantor shall, and shall cause ------------------------------- each Significant Subsidiary to, pay all its material obligations, howsoever arising, as and when due and payable, except (a) such as may be contested in good faith or as to which a bona fide dispute may exist; provided that adequate -------- reserves have been established in accordance with GAAP, and (b) trade payables which shall be paid in the ordinary course of business.
Appears in 3 contracts
Samples: Equity Contribution (Teco Energy Inc), Equity Bridge Guaranty (Teco Energy Inc), Teco Energy Inc
Payment of Material Obligations. Guarantor shall, and shall cause each ------------------------------- each Significant Subsidiary to, pay all its material obligations, howsoever arising, as and when due and payable, except (a) such as may be contested in good faith or as to which a bona fide dispute may exist; provided that adequate reserves -------- reserves have been established in accordance with GAAP, and (b) trade payables which shall be paid in the ordinary course of business.
Appears in 2 contracts
Samples: Equity Bridge Guaranty (Teco Energy Inc), Teco Energy Inc