Common use of Prompt Payment of Taxes, etc Clause in Contracts

Prompt Payment of Taxes, etc. The Company will promptly pay and discharge, or cause to be paid and discharged, when due and payable, unless contested by the Company in good faith, all lawful taxes, assessments and governmental charges or levies imposed upon the income, profits, property or business of the Company or any subsidiary. In the event any such taxes, assessment and governmental charges or levies are contested in good faith by the Company, the Company shall notify the Purchaser in writing prior to the date on which they are due and payable.

Appears in 2 contracts

Samples: Financing Agreement (Genaissance Pharmaceuticals Inc), Financing Agreement (Genaissance Pharmaceuticals Inc)

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Prompt Payment of Taxes, etc. The Company will shall promptly pay and discharge, or cause to be paid and discharged, when due and payable, unless contested by the Company in good faith, all lawful taxes, assessments and governmental charges or levies imposed upon the income, profits, property or business of the Company or any subsidiary. In the event Subsidiary; provided, however, that any such taxestax, assessment and governmental charges assessment, charge or levies are levy need not be paid if the validity thereof shall currently be contested in good faith by the Company, appropriate proceedings and if the Company or such Subsidiary shall notify the Purchaser in writing prior to the date have set aside on which they are due and payable.its books adequate reserves with respect thereto;

Appears in 1 contract

Samples: Series a Preferred Stock Purchase Agreement (Velocom Inc)

Prompt Payment of Taxes, etc. The Company will promptly pay and discharge, or cause to be paid and discharged, when due and payable, unless contested by the Company in good faith, all lawful taxes, assessments and governmental charges or levies imposed upon the income, profits, property or business of the Company or any subsidiary. In the event any such , except for taxes, assessment assessments, and governmental charges or levies are contested in good faith by the Company, the Company shall notify the Purchaser in writing prior to the date on which they are due and payableappropriate proceedings.

Appears in 1 contract

Samples: Purchase Agreement (Genaissance Pharmaceuticals Inc)

Prompt Payment of Taxes, etc. The Company will promptly pay and discharge, or cause to be paid and discharged, when due and payable, unless contested by the Company in good faith, all lawful taxes, assessments and governmental charges or and levies imposed upon the income, profits, property or business of the Company or any subsidiary. In the event Company; provided, however, that any such taxestax, assessment and governmental charges assessment, charge or levies are levy need not be paid if the validity thereof shall be contested in good faith by the Company, appropriate proceedings and if the Company shall notify the Purchaser in writing prior to the date have set aside on which they are due and payableits books adequate reserves with respect thereto.

Appears in 1 contract

Samples: Note Purchase and Shareholder Rights Agreement (Statmon Technologies Corp)

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Prompt Payment of Taxes, etc. The Company will promptly pay and discharge, or cause to be paid and discharged, when due and payable, unless contested by the Company in good faith, all lawful taxes, assessments and governmental charges or levies imposed upon the income, profits, property or business of the Company or any subsidiary. In the event ; provided, however, that any such taxestax, assessment and governmental charges assessment, charge or levies are levy need not be paid if the validity thereof shall currently be contested in good faith by the Company, the Company shall notify the Purchaser in writing prior to the date on which they are due and payable.appropriate

Appears in 1 contract

Samples: Investor Rights Agreement (Carrier Access Corp)

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