Common use of Payment of Taxes, Charges, Claims and Current Liabilities Clause in Contracts

Payment of Taxes, Charges, Claims and Current Liabilities. Each Loan Party shall pay or discharge: (a) on or prior to the date on which penalties thereto accrue, all taxes, assessments and other government charges or levies imposed upon it or any of its properties or income (including such as may arise under Section 4062, Section 4063 or Section 4064 of ERISA, or any similar provision of law); (b) on or prior to the date when due, all lawful claims of materialmen, mechanics, carriers, warehousemen and other like persons which result in creation of a Lien upon any such property; (c) on or prior to the date when due, all other lawful claims which, if unpaid, might result in the creation of a Lien upon any such property (other than Permitted Encumbrances) or which, if unpaid, might give rise to a claim entitled to priority over general creditors of such Loan Party in a case under Title 11 (Bankruptcy) of the United States Code, as amended, or in any insolvency proceeding or dissolution or winding-up involving such Loan Party; and (d) all other current liabilities so that none is overdue more than sixty (60) days.

Payment of Taxes, Charges, Claims and Current Liabilities. Each Loan Party shall pay or discharge: (a) on or prior to the date on which penalties thereto thereon accrue, all taxesTaxes, assessments and other government charges or levies imposed upon it or any of its properties or income (including such as may arise under Section 4062, Section 4063 or Section 4064 of ERISA, or any similar provision of lawLaw); (b) on or prior to the date when due, all lawful claims of materialmen, mechanics, carriers, warehousemen and other like persons Persons which result in creation of a Lien upon any such property; (c) on or prior to the date when due, all other lawful claims which, if unpaid, might result in the creation of a Lien upon any such property (other than Permitted Encumbrances) or which, if unpaid, might give rise to a claim entitled to priority over general creditors of such Loan Party in a case under Title 11 (Bankruptcy) of the United States Code, as amended, or in any insolvency proceeding or dissolution or winding-up involving such Loan Party; and (d) all other current liabilities so that none is overdue more than sixty (60) days.

Payment of Taxes, Charges, Claims and Current Liabilities. Each Loan Party shall pay or discharge: (a) on or prior to the date on which penalties thereto thereon accrue, all taxesTaxes, assessments and other government charges or levies imposed upon it or any of its properties or income (including such as may arise under Section 4062, Section 4063 or Section 4064 of ERISA, or any similar provision of lawLaw); (b) on or prior to the date when due, all lawful claims of materialmen, mechanics, carriers, warehousemen and other like persons Persons which result in creation of a Lien upon any such property; (c) on or prior to the date when due, all other lawful claims which, if unpaid, might result in the creation of a Lien upon any such property (other than Permitted Encumbrances) or which, if unpaid, might give rise to a claim entitled to priority over general creditors of such Loan Party in a case under Title 11 II (Bankruptcy) of the United States Code, as amended, or in any insolvency proceeding or dissolution or winding-up involving such Loan Party; and (d) all other current liabilities so that none is overdue more than sixty (60) days.