Proper Filing of Tax Returns; Payment of Taxes Due. The Borrower has duly and properly filed a United States income tax return and all other tax returns which are required to be filed and has paid all taxes due except such as are being contested in good faith and as to which adequate provisions and disclosures have been made. The respective charges and reserves on the books of the Borrower with respect to taxes and other governmental charges are adequate.
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Samples: Security Agreement (Middle Bay Oil Co Inc), Credit Agreement (Edge Petroleum Corp), Credit Agreement (Middle Bay Oil Co Inc)
Proper Filing of Tax Returns; Payment of Taxes Due. The Borrower has and the Co-Borrowers have duly and properly filed a United States income tax return and all other tax returns which are required to be filed and has have paid all taxes due except such as are being contested in good faith and as to which adequate provisions and disclosures have been made. The respective charges and reserves on the books of the Borrower and the Co-Borrowers with respect to taxes and other governmental charges are adequate.
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