Common use of Payments of Obligations Clause in Contracts

Payments of Obligations. The Borrower shall, and shall cause its Subsidiaries to, pay and discharge as the same shall become due and payable (or prior to delinquency), all obligations and liabilities material to the Borrower and its Subsidiaries taken as a whole, including: (i) all tax liabilities, assessments and governmental charges or levies upon it or its Property or assets, and (ii) all lawful claims which, if unpaid, might by law become a Lien other than a Permitted Lien upon its Property. except in each case (x) those that are being contested in good faith by appropriate proceedings and adequate reserves in accordance with GAAP are being maintained by the Borrower or such Subsidiary or (y) the nonpayment of which would not, in the aggregate, have a Material Adverse Effect.

Payments of Obligations. The Borrower shall, and shall cause its Subsidiaries to, pay and discharge as the same shall become due and payable (or prior to delinquency), all obligations and liabilities material to the Borrower and its Subsidiaries taken as a whole, including: (i) all tax liabilities, assessments and governmental charges or levies upon it or its Property or assets, and (ii) all lawful claims which, if unpaid, might by law become a Lien other than a Permitted Lien upon its Property. , except in each case (x) those that are being contested in good faith by appropriate proceedings and adequate reserves in accordance with GAAP are being maintained by the Borrower or such Subsidiary or (y) the nonpayment of which would not, in the aggregate, have a Material Adverse Effect.