Common use of Payment of Trade Debt Clause in Contracts

Payment of Trade Debt. The Company shall pay, and cause each subsidiary to pay, when due, or in conformity with customary trade terms but not later than ninety (90) days from the due date, all lease obligations, all trade debt, and all other indebtedness incident to the operations of the Company or its subsidiaries, except such as are being contested in good faith and by proper proceedings if the Company or subsidiary concerned shall have set aside on its books sufficient reserves, if any, with respect thereto.

Appears in 5 contracts

Samples: Investor Rights Agreement (PhaseBio Pharmaceuticals Inc), Investor Rights Agreement (PhaseBio Pharmaceuticals Inc), Investor Rights Agreement (Alimera Sciences Inc)

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Payment of Trade Debt. The Company shall pay, and cause each subsidiary Subsidiary to pay, when due, or in conformity with customary trade terms but not later than ninety (90) days from the due date, all lease obligations, all trade debt, and all other indebtedness incident to the operations of the Company or its subsidiariesSubsidiaries, except such as are being contested in good faith and by proper proceedings if the Company or subsidiary Subsidiary concerned shall have set aside on its books sufficient reserves, if any, with respect thereto.

Appears in 3 contracts

Samples: Investor Rights Agreement, Investor Rights Agreement (Aeglea BioTherapeutics, Inc.), Investor Rights Agreement (Biolex, Inc.)

Payment of Trade Debt. The Company shall payPay, and cause each subsidiary to --------------------- pay, when due, or in conformity with customary trade terms but not later than ninety (90) days from the due date, all lease obligations, all trade debt, and all other indebtedness incident to the operations of the Company or its subsidiaries, except such as are being contested in good faith and by proper proceedings if the Company or subsidiary concerned shall have set aside on its books sufficient reserves, if any, with respect thereto.;

Appears in 2 contracts

Samples: Investor Rights Agreement (Pozen Inc /Nc), Investor Rights Agreement (Liposcience Inc)

Payment of Trade Debt. The Company shall pay, and cause each subsidiary to pay, when due, or in conformity with customary trade terms but not later than ninety (90) 90 days from the due date, all lease obligations, all trade debt, and all other indebtedness incident to the operations of the Company or its subsidiaries, except such as are being contested in good faith and by proper proceedings if the Company or subsidiary concerned shall have set aside on its books sufficient reserves, if any, with respect thereto.

Appears in 2 contracts

Samples: Investor Rights Agreement (Aldagen Inc), Investor Rights Agreement (Aldagen Inc)

Payment of Trade Debt. The Company shall payPay, and cause each subsidiary to pay, --------------------- when due, or in conformity with customary trade terms but not later than ninety (90) days from the due date, all lease obligations, all trade debt, and all other indebtedness incident to the operations of the Company or its subsidiaries, except such as are being contested in good faith and by proper proceedings if the Company or subsidiary concerned shall have set aside on its books sufficient reserves, if any, with respect thereto.;

Appears in 2 contracts

Samples: Investor Rights Agreement (Pozen Inc /Nc), Investor Rights Agreement (Pozen Inc /Nc)

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Payment of Trade Debt. The Company shall payPay, and cause each subsidiary to pay, when due, or in conformity with customary trade terms but not later than ninety (90) days from the due date, all lease obligations, all trade debt, and all other indebtedness incident to the operations of the Company or its subsidiaries, except such as are being contested in good faith and by proper proceedings if the Company or subsidiary concerned shall have set aside on its books sufficient reserves, if any, with respect thereto.;

Appears in 1 contract

Samples: Investor Rights Agreement (Liposcience Inc)

Payment of Trade Debt. The Company shall payPay, and cause each subsidiary to pay, when due, or in conformity with customary trade terms but not later than ninety (90) days from the due date, all lease obligations, all trade debt, and all other indebtedness incident to the operations of the Company or its subsidiaries, except such as are being contested in good faith and by proper proceedings if the Company or subsidiary concerned shall have set aside on its books sufficient reserves, if any, with respect thereto.

Appears in 1 contract

Samples: Investor Rights Agreement (Id Technologies Corp)

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