Payment of Taxes and Obligations. Borrower shall pay when due all taxes, assessments, and governmental charges and levies on Borrower’s assets, business, and income, and all material obligations of Borrower of whatever nature, except such as are being contested in good faith by proper proceedings and as to which adequate reserves are maintained.
Appears in 10 contracts
Samples: Loan and Security Agreement (Allied Healthcare Products Inc), Loan Agreement (Lifevantage Corp), Loan and Security Agreement (Pro Dex Inc)
Payment of Taxes and Obligations. Borrower shall pay when due all taxes, assessments, and governmental charges and levies on Borrower’s 's assets, business, and income, and all material obligations of Borrower of whatever nature, except such as are being contested in good faith by proper proceedings and as to which adequate reserves are maintained.
Appears in 5 contracts
Samples: Loan and Security Agreement (Sielox Inc), Loan Agreement (Cirtran Corp), Loan Agreement (Security National Financial Corp)
Payment of Taxes and Obligations. Borrower Borrowers shall pay when due all material taxes, assessments, and governmental charges and levies on Borrower’s Borrowers’ assets, business, and income, and all material obligations of Borrower Borrowers of whatever nature, except such as are being contested in good faith by proper proceedings and as to which adequate reserves are maintained.
Appears in 2 contracts
Samples: Loan Agreement (Black Diamond, Inc.), Loan Agreement (Clarus Corp)
Payment of Taxes and Obligations. Each Borrower shall pay when due all taxes, assessments, and governmental charges and levies on the Collateral and on such Borrower’s assets's property, business, and income, and all material obligations of such Borrower of whatever nature, except such as are being contested in good faith by proper proceedings and as to which adequate reserves are maintained.
Appears in 2 contracts
Samples: Loan Agreement (Merit Medical Systems Inc), Loan Agreement (Merit Medical Systems Inc)
Payment of Taxes and Obligations. Borrower shall pay when due all material taxes, assessments, and governmental charges and levies on Borrower’s 's assets, business, and income, and all material obligations of Borrower of whatever nature, except such as are being contested in good faith by proper proceedings and as to which adequate reserves are maintained., and except where the failure to do so would not reasonably be expected to result in a Material Adverse Effect..
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