Common use of Payment of Tax Liabilities Clause in Contracts

Payment of Tax Liabilities. The Company shall, and shall cause each of its Subsidiaries to, pay its Tax liabilities, that, if not paid, would reasonably be expected to result in a Material Adverse Effect before the same shall become delinquent or in default, except where (a) the validity or amount thereof is being contested in good faith by appropriate proceedings, and the Company or such Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP or (b) the failure to make payment pending such contest would not reasonably be expected to result in a Material Adverse Effect.

Appears in 3 contracts

Samples: Credit Agreement (Global Payments Inc), Term Loan Credit Agreement (Global Payments Inc), Credit Agreement (Global Payments Inc)

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Payment of Tax Liabilities. The Company shallwill, and shall will cause each of its the Subsidiaries to, pay its Tax liabilities, that, if not paid, would could reasonably be expected to result in a Material Adverse Effect before the same shall become delinquent or in default, except where (a) the validity or amount thereof is being contested in good faith by appropriate proceedings, and (b) the Company or such Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP or and (bc) the failure to make payment pending such contest would could not reasonably be expected to result in a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (Expedia, Inc.), Credit Agreement (Expedia, Inc.)

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Payment of Tax Liabilities. The Company shall, and shall cause each of its Subsidiaries to, pay its Tax liabilities, that, if not paid, would reasonably be expected to result in a Material Adverse Effect before the same shall become delinquent or in default, except where (a) the validity or amount thereof is being contested in good faith by appropriate proceedings, and the Company or such Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP or (b) the failure to make payment pending such contest would not reasonably be expected to result in a Material Adverse Effect.. 4857-0343-40294880-4767-9669 v.93

Appears in 1 contract

Samples: Corra Transition Amendment (Global Payments Inc)

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