Common use of Payment of Material Obligations Clause in Contracts

Payment of Material Obligations. TECO 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.

Payment of Material Obligations. TECO 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.