Common use of Taxes and Claims Clause in Contracts

Taxes and Claims. Borrower shall, and shall cause each of its Subsidiaries to, pay or discharge at or before maturity or before becoming delinquent (a) all taxes, levies, assessments, and governmental charges imposed on it or its income or profits or any of its Property, and (b) all lawful claims for labor, material, and supplies, which, if unpaid, might become a Lien upon any of its Property; provided, however, that neither Borrower nor any of its Subsidiaries shall be required to pay or discharge any tax, levy, assessment, or governmental charge which is being contested in good faith by appropriate proceedings diligently pursued, and for which adequate reserves in accordance with GAAP have been established.

Appears in 16 contracts

Samples: Credit Agreement (Bgsf, Inc.), Credit Agreement (Century Communities, Inc.), Credit Agreement (Bgsf, Inc.)

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Taxes and Claims. The Borrower shallwill pay or discharge, and shall will cause each of its Subsidiaries to, Subsidiary to pay or discharge discharge, at or before maturity or before becoming delinquent (a) all taxes, levies, assessments, and governmental charges imposed on it or its income or profits or any of its Propertyproperty, and (b) all lawful claims for labor, material, and supplies, which, if unpaid, might become a Lien upon any of its Propertyproperty; provided, however, that neither the Borrower nor any of its Subsidiaries Subsidiary shall be required to pay or discharge any tax, levy, assessment, or governmental charge which is being contested in good faith by appropriate proceedings diligently pursued, and for which adequate reserves in accordance with GAAP have been established.

Appears in 14 contracts

Samples: Loan Agreement (Rf Monolithics Inc /De/), Loan Agreement (Rf Monolithics Inc /De/), Loan Agreement (Interphase Corp)

Taxes and Claims. The Borrower shallwill, and shall will cause each of its Subsidiaries ---------------- Subsidiary to, pay or discharge at or before maturity or before becoming delinquent (a) all taxes, levies, assessments, and governmental charges imposed on it or its income or profits or any of its Property, and (b) all lawful claims for labor, material, and supplies, which, if unpaid, might become a Lien upon any of its Property; provided, however, that neither the Borrower nor any of its Subsidiaries -------- Subsidiary shall be required to pay or discharge any tax, levy, assessment, or governmental charge or claim which is being contested in good faith by appropriate proceedings diligently pursued, and for which adequate reserves have been established in accordance with GAAP have been establishedGAAP.

Appears in 1 contract

Samples: Credit Agreement (Learningstar Inc)

Taxes and Claims. Borrower shall, and shall cause each of its Subsidiaries to, pay or discharge at or before maturity or before becoming delinquent (a) all taxesTaxes, levies, assessments, and governmental charges imposed on it or its income or profits or any of its Property, and (b) all lawful claims for labor, material, and supplies, which, if unpaid, might become a Lien upon any of its Property; provided, however, that neither Borrower nor any of its Subsidiaries shall be required to pay or discharge any taxTax, levy, assessment, or governmental charge which is being contested in good faith by appropriate proceedings diligently pursued, and for which adequate reserves in accordance with GAAP have been established.

Appears in 1 contract

Samples: Credit Agreement (Granite Ridge Resources, Inc.)

Taxes and Claims. Borrower shallParent will, and shall will cause each of its the Subsidiaries to, pay or discharge at or before maturity or before becoming delinquent (a) all taxes, levies, assessments, and governmental charges imposed on it or its income or profits or any of its Propertyproperty, and (b) all valid and lawful claims for labor, material, and supplies, which, if unpaid, might become a Lien upon any of its Propertyproperty; provided, however, that neither Borrower Parent nor any of its the Subsidiaries shall be required to pay or discharge any tax, levy, assessment, or governmental charge which is being contested in good faith by appropriate proceedings diligently pursued, and for which adequate reserves in accordance with GAAP have been established.

Appears in 1 contract

Samples: Security Agreement (Tufco Technologies Inc)

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Taxes and Claims. Each Borrower shall, and shall cause each of its Subsidiaries to, pay or discharge at or before maturity or before becoming delinquent (a) all taxes, levies, assessments, and governmental charges imposed on it or its income or profits or any of its Property, and (b) all lawful claims for labor, material, and supplies, which, if unpaid, might become a Lien upon any of its Property; provided, however, that neither no Borrower nor or any of its Subsidiaries shall be required to pay or discharge any tax, levy, assessment, or governmental charge which is being contested in good faith by appropriate proceedings diligently pursued, and for which adequate reserves in accordance with GAAP have been established.

Appears in 1 contract

Samples: Credit Agreement (Sunnova Energy International Inc.)

Taxes and Claims. Borrower shall, and shall cause each of its Subsidiaries to, pay or discharge at or before maturity or before becoming delinquent (a) all taxes, levies, assessments, and governmental charges imposed on it or its income or profits or any of its Property, and (b) all lawful claims for labor, material, and supplies, which, if unpaid, might become a Lien upon any of its Property; provided, however, that neither Borrower nor any of its Subsidiaries shall be required to pay or discharge any tax, levy, assessment, or governmental charge which is being contested in good CREDIT AGREEMENT – Page 68 faith by appropriate proceedings diligently pursued, and for which adequate reserves in accordance with GAAP have been established.

Appears in 1 contract

Samples: Credit Agreement (Bgsf, Inc.)

Taxes and Claims. The Borrower shall, and shall cause each of its Subsidiaries to, pay or discharge at or before maturity or before becoming delinquent (a) all taxes, levies, assessments, and governmental charges imposed on it or its income or profits or any of its Property, and (b) all lawful claims for labor, material, material and supplies, which, if unpaid, might become a Lien upon any of its Property; provided, however, that neither the Borrower nor any of its Subsidiaries shall be required to pay or discharge any tax, levy, assessment, assessment or governmental charge which is being contested in good faith by appropriate proceedings diligently pursued, and for which adequate reserves in accordance with GAAP have been established.

Appears in 1 contract

Samples: Credit Agreement (Century Communities, Inc.)

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