Common use of Taxes and Encumbrances Clause in Contracts

Taxes and Encumbrances. The Borrower shall promptly pay and discharge or cause to be paid and discharged all its obligations and liabilities, including (without limitation) all taxes, assessments and governmental charges upon it and its income or properties, when due unless and to the extent only that the same shall be contested in good faith and by appropriate proceedings and then only to the extent that a bond is filed in cases where the filing of a bond is necessary to avoid the creation of a lien against any of the Collateral or any of its other assets. The Borrower covenants and agrees to keep the Collateral free and clear of all levies, liens, claims, security interests and encumbrances (including, without limitation, any lease or sublease thereof) and to promptly pay all charges, taxes and fees which may now or hereafter be imposed upon the ownership, sale, purchase, possession or use of the Collateral, except those in favor of the Lender. In addition, the Borrower shall timely file all tax returns required in connection with the use, operation or possession of the Collateral, and shall promptly furnish copies thereof to the Lender.

Appears in 1 contract

Samples: Master Note and Security Agreement (Neotherapeutics Inc)

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Taxes and Encumbrances. The Borrower shall promptly pay and discharge ---------------------- or cause to be paid and discharged all its obligations and liabilities, including (without limitation) all taxes, assessments and governmental charges upon it and its income or properties, when due unless and to the extent only that the same shall be contested in good faith and by appropriate proceedings and then only to the extent that a bond is filed in cases where the filing of a bond is necessary to avoid the creation of a lien against any of the Collateral or any of its other assets. The Borrower covenants and agrees to keep the Collateral free and clear of all levies, liens, claims, security interests and encumbrances (including, without limitation, any lease or sublease thereof) and to promptly pay all charges, taxes and fees which may now or hereafter be imposed upon the ownership, sale, purchase, possession or use of the Collateral, except those in favor of the Lender. In addition, the Borrower shall timely file all tax returns required in connection with the use, operation or possession of the Collateral, and shall promptly furnish copies thereof to the Lender.

Appears in 1 contract

Samples: Master Note and Security Agreement (SQL Financials International Inc /De)

Taxes and Encumbrances. The Borrower shall promptly pay and discharge or cause to be paid and discharged all its obligations and liabilities, including (without limitation) all taxes, assessments and governmental charges upon it and its income or properties, when due unless and to the extent only that the same shall be contested in good faith and by appropriate proceedings and then only to the extent that a bond is filed in cases where the filing of a bond is necessary to avoid the creation of a lien against any of the Collateral or any of its other assets. The Other than Permitted Liens, the Borrower covenants and agrees to keep the Collateral free and clear of all levies, liens, claims, security interests and encumbrances (including, without limitation, any lease or sublease thereof) and to promptly pay all charges, taxes and fees which may now or hereafter be imposed upon the ownership, sale, purchase, possession or use of the Collateral, except those in favor of the Lender. In addition, the Borrower shall timely file all tax returns required solely in connection with the use, operation or possession of the Collateral, and shall promptly furnish copies thereof to the Lender.

Appears in 1 contract

Samples: Master Note and Security Agreement (Primis Inc)

Taxes and Encumbrances. The Borrower shall promptly pay and ---------------------- discharge or cause to be paid and discharged all its obligations and liabilities, including (without limitation) all taxes, assessments and governmental charges upon it and its income or properties, when due unless and to the extent only that the same shall be contested in good faith and by appropriate proceedings and then only to the extent that a bond is filed in cases where the filing of a bond is necessary to avoid the creation of a lien against any of the Collateral or any of its other assets. The Other than Permitted Liens, the Borrower covenants and agrees to keep the Collateral free and clear of all levies, liens, claims, security interests and encumbrances (including, without limitation, any lease or sublease thereof) and to promptly pay all charges, taxes and fees which may now or hereafter be imposed upon the ownership, sale, purchase, possession or use of the Collateral, except those in favor of the Lender. In addition, the Borrower shall timely file all tax returns required in connection with the use, operation or possession of the Collateral, and shall promptly furnish copies thereof to the Lender.

Appears in 1 contract

Samples: Master Note and Security Agreement (Jeepers Inc)

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Taxes and Encumbrances. The Borrower shall promptly pay and discharge or cause to be paid and discharged all its obligations and liabilities, including (without limitation) all taxes, assessments and governmental charges upon it and its income or properties, when due unless and to the extent only that the same shall be contested in good faith and by appropriate proceedings and then only to the extent that a bond is filed in cases where the filing of a bond is necessary to avoid the creation of a lien against any of the Collateral or any of its other assets. The Other than Permitted Liens, the Borrower covenants and agrees to keep the Collateral free and clear of all levies, liens, claims, security interests and encumbrances (including, without limitation, any lease or sublease thereof) and to promptly pay all charges, taxes and fees which may now or hereafter be imposed upon the ownership, sale, purchase, possession or use of the Collateral, except those in favor of the Lender. In addition, the Borrower shall timely file all tax returns required in connection with the use, operation or possession of the Collateral, and shall shall, after written request therefore, promptly furnish copies thereof to the Lender.

Appears in 1 contract

Samples: Master Note and Security Agreement (Array Biopharma Inc)

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