Common use of Payment of Taxes and Mechanics' Claims Clause in Contracts

Payment of Taxes and Mechanics' Claims. The Borrower will pay, or cause to be paid, all taxes, assessments, license fees and other governmental charges and all claims of mechanics and materialmen to which it or any of the Subsidiaries or any of their properties including the Property shall be subject, and all other charges on or relating to any of their properties including the Property, before such charges and claims become delinquent, except that no such charge or claim need be paid for so long as its validity or amount shall be contested in good faith by appropriate proceedings duly prosecuted and the Borrower and the Subsidiaries shall have set up in their books such reserves with respect thereto as shall be dictated by sound accounting practices; provided, however, that all such charges and claims shall be paid, subject to refund proceedings, if failure to pay would adversely affect the rights or titles of the Borrower or any of the Subsidiaries to any of their properties including the Property.

Payment of Taxes and Mechanics' Claims. The Each Borrower will pay, or cause to be paid, all taxes, assessments, license fees and other governmental charges and all claims of mechanics and materialmen to which it or any of the Subsidiaries or any of their properties including the Property shall be subject, and all other charges on or relating to any of their properties including the Property, before such charges and claims become delinquent, except that no such charge or claim need be paid for so long as its validity or amount shall be contested in good faith by appropriate proceedings duly prosecuted and the such Borrower and the Subsidiaries shall have set up in their books such reserves with respect thereto as shall be dictated by sound accounting practices; provided, however, that all such charges and claims shall be paid, subject to refund proceedings, if failure to pay would adversely affect the rights or titles of the any Borrower or any of the Subsidiaries to any of their properties including the Property.

Payment of Taxes and Mechanics' Claims. The Borrower will pay, or cause to be paid, all taxes, assessments, license fees and other governmental charges and all claims of mechanics and materialmen to which it or any of the Subsidiaries or any of their properties including the Property shall be subject, and all other charges on or relating to any of their properties including the Property, before such charges and claims become delinquent, except that no such charge or claim need be paid for so long as its validity or amount shall be contested in good faith by appropriate proceedings duly prosecuted and the Borrower and the Subsidiaries shall have set up in their books such reserves with respect thereto as shall be dictated by sound accounting practices; provided, however, that all such charges and claims shall be paid, subject to refund proceedings, if failure to pay would adversely affect the rights or titles of the Borrower or any of the Subsidiaries to any of their properties including the Property.