Common use of Tax Returns and Taxes Clause in Contracts

Tax Returns and Taxes. Each of the Borrower and its Subsidiaries has filed all federal, state and local tax returns required to be filed and has paid all taxes, assessments and governmental charges and levies thereon, including interest and penalties, except where the same are being contested in good faith by appropriate proceedings and for which adequate reserves have been set aside, and no liens for taxes have been filed by a Governmental Authority with respect to any taxes. The charges, accruals and reserves on the books of the Borrower or its Subsidiary, as the case may be, with respect to taxes or other governmental charges are adequate.

Tax Returns and Taxes. Each of the Borrower and its Subsidiaries has filed all federal, state and local tax returns required to be filed and has paid all taxes, assessments and governmental charges and levies thereon, including interest and penalties, except where the same are being contested in good faith by appropriate proceedings and for which adequate reserves have been set aside, and no liens for taxes have been filed and no claims are being assessed by a Governmental Authority governmental authority with respect to any taxes. The charges, accruals and reserves on the books of the Borrower or its SubsidiarySubsidiaries, as the case may be, with respect to taxes or other governmental charges are adequate.

Tax Returns and Taxes. Each of the Borrower and its --------------------- Subsidiaries has filed all federal, state and local tax returns required to be filed and has paid all taxes, assessments and governmental charges and levies thereon, including interest and penalties, except where the same are being contested in good faith by appropriate proceedings and for which adequate reserves have been set aside, and no liens for taxes have been filed and no claims are being assessed by a Governmental Authority governmental authority with respect to any taxes. The charges, accruals and reserves on the books of the Borrower or its SubsidiarySubsidiaries, as the case may be, with respect to taxes or other governmental charges are adequate.