Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders from any amounts charged or paid hereunder to Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 6 contracts
Samples: Loan and Security Agreement (Handy & Harman Ltd.), Loan and Security Agreement (Handy & Harman Ltd.), Loan and Security Agreement (Handy & Harman Ltd.)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders from any amounts charged or paid hereunder to Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 5 contracts
Samples: Loan and Security Agreement (Pillowtex Corp), Loan and Security Agreement (Perry Ellis International Inc), Loan and Security Agreement (Allou Health & Beauty Care Inc)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and --------------------------- shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or such Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Lender or Collateral Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees agree to indemnify and hold Lender and Collateral Agent harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, Lender or Collateral Agent on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be -------- ---- construed to require any Borrower or Guarantor Guarantors to pay any income or franchise taxes attributable to the income of Lenders Lender or Collateral Agent from any amounts charged or paid hereunder to LendersLender or Collateral Agent. The foregoing indemnity shall survive the payment of the Obligations and the termination or non-renewal of this Agreement.
Appears in 3 contracts
Samples: Loan Agreement (RBX Corp), Loan Agreement (RBX Corp), Loan Agreement (RBX Industries Inc)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or such Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent and Lenders harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, Agent and Lenders on demand the amount thereof, and until paid by such Borrower or Guarantor Borrowers such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders from any amounts charged or paid hereunder to Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 3 contracts
Samples: Loan and Security Agreement (Huffy Corp), Loan and Security Agreement (Huffy Corp), Loan and Security Agreement (Huffy Corp)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent Lender harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, Lender on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders Lender from any amounts charged or paid hereunder to LendersLender. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 3 contracts
Samples: Loan and Security Agreement (Lydall Inc /De/), Loan and Security Agreement (Langer Inc), Loan and Security Agreement (Farmer Brothers Co)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all material taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders from any amounts charged or paid hereunder to Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 2 contracts
Samples: Loan and Security Agreement (Catalina Lighting Inc), Loan and Security Agreement (Mackie Designs Inc)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Borrower or Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower Borrowers and Guarantor Guarantors shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and except as otherwise may be provided in Section 6.5 hereof, each Borrower and Guarantor agrees to indemnify and hold Agent Lender harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, Lender on demand the amount thereof, and until paid by such Borrower or Guarantor Borrowers such amount shall be added and deemed part of the Loans, providedPROVIDED, thatTHAT, nothing contained herein shall be construed to require any Borrower Borrowers or Guarantor Guarantors to pay any income or franchise taxes attributable to the income of Lenders Lender from any amounts charged or paid hereunder to LendersLender. The foregoing indemnity shall survive the payment of the Obligations and the termination or non-renewal of this Agreement.
Appears in 2 contracts
Samples: Loan and Security Agreement (Waxman Industries Inc), Loan and Security Agreement (Waxman Industries Inc)
Payment of Taxes and Claims. Each Except as could not reasonably be expected to have a Material Adverse Effect, each Borrower and Guarantor shall, and shall cause any Subsidiary each other Credit Party (other than another Borrower) to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor Borrower or Subsidiarysuch other Credit Party, as the case may be, and with respect to which adequate reserves as required by GAAP have been set aside on its books. Each Subject to Sections 6.4(c), (d), (e), (f) and (g) hereof, each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent and each Lender harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, Agent and each Lender on demand the amount thereof, and until paid by such Borrower or Guarantor Borrowers such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower Borrowers or Guarantor Guarantors to pay any income or franchise taxes attributable to the income of Lenders Agent or any Lender from any amounts charged or paid hereunder to LendersAgent or any Lender. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 2 contracts
Samples: Loan and Security Agreement (Jazz Technologies, Inc.), Loan and Security Agreement (Jazz Technologies, Inc.)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower Borrowers or Guarantor Guarantors to pay any income or franchise taxes attributable to the income of Lenders from any amounts charged or paid hereunder to Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 2 contracts
Samples: Loan and Security Agreement (Pep Boys Manny Moe & Jack), Loan and Security Agreement (Pep Boys Manny Moe & Jack)
Payment of Taxes and Claims. Each Borrower and Guarantor Guarantors shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, any Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and each Guarantor agrees to indemnify and hold Agent and Lenders harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor Guarantors to pay any income income, or franchise taxes attributable to the income of Lenders from any amounts charged by or paid hereunder to Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 2 contracts
Samples: Loan and Security Agreement (Hhgregg, Inc.), Loan and Security Agreement (HHG Distributing, LLC)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary each of their Subsidiaries to, duly pay and discharge when due (before the same become delinquent) all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes taxes, assessments, contributions and governmental charges (a) the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its booksbooks or (b) which are of immaterial amounts and the nonpayment of which would not give rise to a lien. Each Subject to Section 6.11 hereof, each Borrower and Guarantor shall be liable for any tax Taxes or penalties Other Taxes imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders from any amounts charged or paid hereunder to Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 1 contract
Samples: Loan and Security Agreement (International Wire Group Inc)
Payment of Taxes and Claims. Each Borrower and each Guarantor shall, and shall cause any Restricted Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Restricted Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and each Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender Lender, after the date hereof, as a result of the financing arrangements provided for herein and each Borrower and each Guarantor agrees to indemnify and hold Agent Lender harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, Lender on demand the amount thereof, and until paid by such Borrower or such Guarantor such amount shall be added and deemed part of the Revolving Loans, provided, that, nothing contained herein shall be construed to require any Borrower or any Guarantor to pay any income or franchise taxes attributable to the income of Lenders Lender from any amounts charged or paid hereunder to LendersLender. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 1 contract
Payment of Taxes and Claims. Each Borrower and Guarantor shallExcept to the extent prohibited by the Bankruptcy Code, and each Obligor shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessmentsTaxes, contributions and governmental charges upon or against it or its properties or assets, except for taxes Taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, Obligor and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor Borrowers shall be liable for any tax Tax or penalties imposed on Agent or any Lender Agents and Lenders as a result of the financing arrangements provided for herein and each Borrower Borrowers jointly and Guarantor agrees severally agree to indemnify and hold Agent Agents and Lenders harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, on demand Agents and Lenders ON DEMAND the amount thereof, and until paid by such Borrower or Guarantor Borrowers such amount shall be added and deemed part of the Revolving Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor Borrowers to pay any income income, excise or franchise taxes Taxes attributable to the income of Lenders any Agent or Lender from any amounts charged or paid hereunder to Lendersany Agent or Lender. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreementthe DIP Facility.
Appears in 1 contract
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, including, without limitation, sales, use and similar taxes, relating to the Assigned Leases and the payments thereunder, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to Borrower or such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent Lender harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, Lender on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders Lender from any amounts charged or paid hereunder to LendersLender. The foregoing indemnity shall survive the payment of the Obligations and the termination or non-renewal of this Agreement.
Appears in 1 contract
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent Lender harmless with respect to the foregoing, and to repay to Agent, for the benefit of LendersLender, on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders Lender from any amounts charged or paid hereunder to LendersLender. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 1 contract
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, Borrower and with respect to which adequate reserves have been set aside on its booksbooks in accordance with GAAP. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on either or both Lenders or Lenders' Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Lenders and Lenders' Agent harmless with respect to the foregoing, and to repay pay to Agent, for the benefit of Lenders, on demand ' Agent the amount thereof, within two (2) Business Days after demand, accompanied by a reasonable description of the claim, and until paid by to such Borrower or Guarantor Lenders' Agent and Lenders such amount shall be added to and deemed part of the Revolving Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders or Lenders' Agent from any amounts charged or paid hereunder to Lenders or Lenders' Agent. The foregoing indemnity shall survive the payment of the Obligations and the termination or non-renewal of this Agreement.
Appears in 1 contract
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all federal and other material taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Subject to Section 6.5 hereof, each Borrower and Guarantor shall be liable for any tax Taxes or penalties Other Taxes imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, ; provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders from any amounts charged or paid hereunder to Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this AgreementAgreement to the extent required by GAAP.
Appears in 1 contract
Samples: Loan and Security Agreement (American Biltrite Inc)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent and Lenders harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, Agent and Lenders on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders Agent or any Lender from any amounts charged or paid hereunder to Agent and Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 1 contract
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent Lender harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, Lender on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders Lender from any amounts charged or paid hereunder to LendersLender, or to indemnify Lender for any tax or penalty incurred by Lender solely as a result of its own gross negligence or willful misconduct, as determined by a final, non-appealable judgment by a court of competent jurisdiction. The foregoing indemnity shall survive the payment of the Obligations and the termination or non-renewal of this Agreement.
Appears in 1 contract
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans; PROVIDED, provided, thatTHAT, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income or capital of Lenders from any amounts charged or paid hereunder to Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 1 contract
Samples: Loan and Security Agreement (Atlas Air Worldwide Holdings Inc)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent, Collateral Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent harmless with respect to the foregoing, and to repay to Agent, Collateral Agent and Lenders for the benefit of Lenders, on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added to and deemed part of the LoansObligations, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders from any amounts charged or paid hereunder to Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 1 contract
Samples: Loan Agreement (Listerhill Total Maintenance Center LLC)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the LoansLoan, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders from any amounts charged or paid hereunder to Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 1 contract
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Borrower or Guarantor or such Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent Lender harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, Lender on demand the amount thereof, and until paid by such Borrower or Guarantor Borrowers such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower Borrowers or Guarantor Guarantors to pay any income or franchise taxes attributable to the income of Lenders Lender from any amounts charged or paid hereunder to LendersLender. The foregoing indemnity shall survive the payment of the Obligations and the termination or non-renewal of this Agreement.
Appears in 1 contract
Samples: Loan and Security Agreement (Pep Boys Manny Moe & Jack)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Borrower or Guarantor or such Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent Lender harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, Lender on demand the amount thereof, and until paid by such Borrower or Guarantor Borrowers such amount shall be added and deemed part of the Loans, providedPROVIDED, thatTHAT, nothing contained herein shall be construed to require any Borrower Borrowers or Guarantor Guarantors to pay any income or franchise taxes attributable to the income of Lenders Lender from any amounts charged or paid hereunder to LendersLender. The foregoing indemnity shall survive the payment of the Obligations and the termination or non-renewal of this Agreement.
Appears in 1 contract
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary each of their Subsidiaries to, duly pay and discharge when due (before the same become delinquent) all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes taxes, assessments, contributions and governmental charges (a) the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its booksbooks or (b) which are of immaterial amounts and the nonpayment of which would not give rise to a lien. Each Subject to Section 6.11 hereof, each Borrower and Guarantor shall be liable for any tax Taxes or penalties Other Taxes imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders from any amounts charged or paid hereunder to LendersLoan. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 1 contract
Samples: Loan and Security Agreement (International Wire Group Inc)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, Borrower and with respect to which adequate reserves have been set aside on its books. Each If, at any time, Lender assigns, or sells participations in, all or any part of the Loans, the Letter of Credit Accommodations or any other interest herein to a foreign financial institution or other foreign Person, Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent Lender harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, Lender on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders Lender from any amounts charged or paid hereunder to LendersLender. The foregoing indemnity shall survive the payment of the Obligations and the termination or non-renewal of this Agreement.
Appears in 1 contract
Payment of Taxes and Claims. Each Except to the extent discharged under the Plan of Reorganization or to the extent the Plan of Reorganization provides that such taxes, assessments, contributions or charges are not required to be paid when due, each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders from any amounts charged or paid hereunder to Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 1 contract
Samples: Loan and Security Agreement (Atlantic Express Transportation Corp)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent Lender harmless with respect to the foregoing, and to repay to Agent, for the benefit of LendersLender, on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, providedPROVIDED, thatTHAT, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders Lender from any amounts charged or paid hereunder to LendersLender. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 1 contract
Samples: Loan and Security Agreement (Little Switzerland Inc/De)
Payment of Taxes and Claims. Each Borrower and each Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, such Guarantor or such Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and each Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and each Guarantor agrees to indemnify and hold Agent harmless with respect to the foregoing, and to repay to Agent, for the benefit of the Lenders, on demand the amount thereof, and until paid by such Borrower or such Guarantor such amount shall be added and deemed part of the Loans, Obligations; provided, that, nothing contained herein shall be construed to require any Borrower or any Guarantor to pay any income or franchise taxes attributable to the income of the Lenders from any amounts charged or paid hereunder to the Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this AgreementAgreement to the extent required by GAAP.
Appears in 1 contract
Samples: Second Lien Letter of Credit, Loan and Security Agreement (Lighting Science Group Corp)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor Borrower or SubsidiaryGuarantor, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent Lender harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, Lender on demand the amount thereof, and until paid by such Borrower or Guarantor Borrowers such amount shall be added and deemed part of the Loans, providedPROVIDED, thatTHAT, nothing contained herein shall be construed to require any Borrower Borrowers or Guarantor to pay any income or franchise taxes attributable to the income of Lenders Lender from any amounts charged or paid hereunder to LendersLender. The foregoing indemnity shall survive the payment of the Obligations and the termination or non-renewal of this Agreement.
Appears in 1 contract
Samples: Loan Agreement (JLM Industries Inc)
Payment of Taxes and Claims. Each Borrower and each Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to Borrower or such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and each Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and each Guarantor agrees to indemnify and hold Agent harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, on demand the amount thereof, and until paid by such Borrower or such Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or any Guarantor to pay any income or franchise taxes attributable to the income of Lenders from any amounts charged or paid hereunder to Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 1 contract
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges in excess of $100,000 in the aggregate upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent harmless with respect to the foregoing, other than with respect to Excluded Taxes as provided for in Sections 3.3 and Section 6.5, and to repay to Agent, for the benefit of Lenders, on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, ; provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders from any amounts charged or paid hereunder to Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 1 contract
Payment of Taxes and Claims. Each Borrower of Borrowers and Guarantor shall, and shall cause any Subject Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or such Subject Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower of Borrowers and Guarantor shall be liable for any tax or penalties imposed on Administrative Agent or any Lender as a result of the financing arrangements provided for herein (other than taxes with respect to Administrative Agent's or Lender's income) and each Borrower of Borrowers and Guarantor agrees to indemnify and hold Administrative Agent and Lenders harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, Administrative Agent and Lenders on demand the amount thereof, and until paid by such Borrower Borrowers or Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders from any amounts charged or paid hereunder to Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 1 contract
Samples: Loan and Security Agreement (Bell Microproducts Inc)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, ; provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders from any amounts charged or paid hereunder to Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this AgreementAgreement to the extent required by GAAP.
Appears in 1 contract
Samples: Loan and Security Agreement (Lighting Science Group Corp)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, providedPROVIDED, thatTHAT, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income or revenues of Agent or Lenders (such taxes being referred to herein as "Excluded Taxes") from any amounts charged or paid hereunder to Agent or Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 1 contract
Samples: Loan and Security Agreement (Thane International Inc)
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any each Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Guarantor or Subsidiary, as the case may be, Borrower and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor its Subsidiaries shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees to indemnify and hold Agent and each Lender harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, Agent and each Lender on demand the amount thereof, and until paid by such Borrower or Guarantor such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor its Subsidiaries to pay any income or franchise taxes attributable to the income of Lenders Agent or any Lender from any amounts charged or paid hereunder to LendersAgent or any Lender. The foregoing indemnity shall survive the payment of the Obligations and the termination or non-renewal of this Agreement.
Appears in 1 contract
Payment of Taxes and Claims. Each Borrower and Guarantor Guarantors shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, any Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor Guarantors shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and each Guarantor agrees to indemnify and hold Agent and Lenders harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, on demand the amount thereof, and until paid by such Borrower or Guarantor Guarantors such amount shall be added and deemed part of the Loans, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor Guarantors to pay any income income, or franchise taxes attributable to the income of Lenders from any amounts charged by or paid hereunder to Lenders. The foregoing indemnity shall survive the payment of the Obligations and the termination of this Agreement.
Appears in 1 contract
Payment of Taxes and Claims. Each Borrower and Guarantor shall, and shall cause any Subsidiary to, duly pay and discharge when due all taxes, assessments, contributions and governmental charges upon or against it or its properties or assets, except for taxes the validity of which are being contested in good faith by appropriate proceedings diligently pursued and available to such Borrower, Borrower or Guarantor or Subsidiary, as the case may be, and with respect to which adequate reserves have been set aside on its books. Each Borrower and Guarantor shall be liable for any tax or penalties imposed on Agent or any Lender as a result of the financing arrangements provided for herein and each Borrower and Guarantor agrees jointly and severally to indemnify and hold Agent Lender harmless with respect to the foregoing, and to repay to Agent, for the benefit of Lenders, Lender on demand the amount thereof, and until paid by such Borrower the Borrowers or Guarantor Guarantors such amount shall be added and deemed part of the LoansObligations, provided, that, nothing contained herein shall be construed to require any Borrower or Guarantor to pay any income or franchise taxes attributable to the income of Lenders Lender from any amounts charged or paid hereunder to LendersLender. The foregoing indemnity shall survive the payment of the Obligations and the termination or non-renewal of this Agreement.
Appears in 1 contract
Samples: Loan and Security Agreement (Decorative Home Accents Inc)