Payroll Taxes. No Company may use any proceeds of any Borrowing to pay the wages of employees unless a timely payment to or deposit with the United States of America of all amounts of Tax required to be deducted and withheld with respect to such wages is also made.
Appears in 9 contracts
Samples: Credit Agreement (Goodrich Petroleum Corp), Credit Agreement (Goodrich Petroleum Corp), Credit Agreement (Affiliated Computer Services Inc)
Payroll Taxes. No Company may directly or indirectly use any proceeds of any Borrowing to pay (a) for any purpose other than as represented in this agreement, or (b) for the payment of wages of employees unless a timely payment to or deposit with the United States of America of all amounts of Tax required to be deducted and withheld with respect to such wages is also made.
Appears in 6 contracts
Samples: Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Commercial Trust /Tx)
Payroll Taxes. No Company may directly or indirectly use any proceeds of any Borrowing to pay (i) for any purpose other than as represented in this agreement, or (ii) for the payment of wages of employees unless a timely payment to or deposit with the United States of America of all amounts of Tax required to be deducted and withheld with respect to such wages is also made.
Appears in 2 contracts
Samples: Credit Agreement (Ultrak Inc), Credit Agreement (Ultrak Inc)
Payroll Taxes. No Company may use any proceeds of any the Borrowing to pay the wages of employees unless a timely payment to or deposit with the United States of America of all amounts of Tax required to be deducted and withheld with respect to such wages is also made.
Appears in 2 contracts
Samples: Term Loan Agreement (Goodrich Petroleum Corp), Credit Agreement (Goodrich Petroleum Corp)
