Common use of Payment of Taxes and Other Liabilities Clause in Contracts

Payment of Taxes and Other Liabilities. The Borrower shall and shall cause -------------------------------------- its Subsidiaries to promptly pay and discharge all obligations, accounts and liabilities which are owed by them, to which they are subject or which are asserted against them, including but not limited to all taxes, assessments and governmental charges and levies upon them or upon any of their respective income, profits or property prior to the date on which penalties attach thereto; provided, however, that for purposes of this Agreement, the Borrower and its -------- ------- Subsidiaries shall not be required to pay any tax, assessment, charge or levy (i) the payment of which is being contested in good faith by appropriate and lawful proceedings diligently conducted and (ii) as to which the Borrower or the affected Subsidiary shall have set aside on its books reserves for such claim as are determined to be adequate by the application of GAAP consistently applied, but only to the extent that failure to discharge any such liabilities would not result in any additional liability which would have a Material Adverse Effect; and provided, further, that the Borrower shall pay and shall cause its -------- ------- Subsidiaries to pay all such contested liabilities forthwith upon the commencement of proceedings to foreclose any Lien which may have attached as security therefor.

Payment of Taxes and Other Liabilities. The Borrower shall -------------------------------------- promptly pay and shall discharge and cause -------------------------------------- its Subsidiaries Holdings to promptly pay and discharge all obligations, accounts and liabilities which are owed by them, to which they are subject or which are asserted against themit is subject, including but not limited to all taxes, assessments and governmental charges and levies upon them it or upon any of their respective its income, profits profits, or property property, prior to the date on which penalties attach thereto; provided, however, that for purposes of this -------- ------- Agreement, neither the Borrower and its -------- ------- Subsidiaries nor Holdings shall not be required to pay any tax, assessment, charge or levy (i) the payment of which is being contested in good faith by appropriate and lawful proceedings diligently conducted and (ii) as to which the Borrower or the affected Subsidiary shall have set aside on its books reserves for such claim claims as are determined to be adequate by the application of GAAP consistently applied, but only to the extent that failure to discharge any such liabilities would not result in any additional liability which would have a Material Adverse Effectmaterial liability; and provided, further, that the -------- ------- Borrower shall pay and shall cause its -------- ------- Subsidiaries to pay all such contested liabilities forthwith upon the commencement of proceedings to foreclose any Lien lien or other Encumbrance which may have attached as security therefor.

Payment of Taxes and Other Liabilities. The Borrower shall and shall -------------------------------------- cause -------------------------------------- its Subsidiaries to promptly pay and discharge all obligations, accounts and liabilities which are owed by them, to which they are subject or which are asserted against them, including but not limited to all taxes, assessments and governmental charges and levies upon them or upon any of their respective income, profits or property prior to the date on which penalties attach thereto; provided, however, that -------- ------- for purposes of this Agreement, the Borrower and its -------- ------- Subsidiaries shall not be required to pay any tax, assessment, charge or levy (i) the payment of which is being contested in good faith by appropriate and lawful proceedings diligently conducted and (ii) as to which the Borrower or the affected Subsidiary shall have set aside on its books reserves for such claim as are determined to be adequate by the application of GAAP consistently applied, but only to the extent that failure to discharge any such liabilities would not result in any additional liability which would have a Material Adverse Effect; and provided, further, that the Borrower shall pay and shall -------- ------- cause its -------- ------- Subsidiaries to pay all such contested liabilities forthwith upon the commencement of proceedings to foreclose any Lien which may have attached as security therefor.

Payment of Taxes and Other Liabilities. The Borrower shall and shall cause promptly -------------------------------------- its Subsidiaries to promptly pay and discharge all obligations, accounts and liabilities which are owed by themit, to which they are it is subject or which are asserted against themit, including but not limited to all taxes, assessments and governmental charges and levies upon them it or upon any of their respective its income, profits profits, or property prior to the date on which penalties attach thereto; provided, however, that for purposes of this -------- ------- Agreement, the Borrower and its -------- ------- Subsidiaries shall not be required to pay any tax, assessment, charge or levy (i) the payment of which is being contested in good faith by appropriate and lawful proceedings diligently conducted and (ii) as to which the Borrower or the affected Subsidiary shall have set aside on its books reserves for such claim as are determined to be adequate by the application of GAAP consistently applied, but only to the extent that failure to discharge any such liabilities would not result in any additional liability which would have a Material Adverse Effect; and provided, -------- further, that the Borrower shall pay and shall cause its -------- ------- Subsidiaries to pay all such contested liabilities forthwith ------- upon the commencement of proceedings to foreclose any Lien which may have attached as security therefortherefor unless such proceedings are stayed or dismissed within ten (10) days of the commencement of the proceeding.