Common use of Taxes and Filing of Tax Returns Clause in Contracts

Taxes and Filing of Tax Returns. The Borrower has filed or properly extended all returns required to have been filed or extended with respect to Taxes and has paid all Taxes shown to be due and payable by it on such returns, including interest and penalties, and all other Taxes which are payable by it, to the extent the same have become due and payable (unless, with respect to such other Taxes, the criteria set forth in Section 7.5 are being met). The Borrower does not know of any proposed assessment of Taxes of a material amount against it and all liabilities for Taxes of the Borrower are adequately provided for.

Appears in 2 contracts

Samples: Credit Agreement (Trek Resources Inc), Credit Agreement (Toreador Royalty Corp)

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Taxes and Filing of Tax Returns. The Each Borrower has filed or properly extended all returns required to have been filed or extended with respect to Taxes and has paid all Taxes shown to be due and payable by it on such returns, including interest and penalties, and all other Taxes which are payable by it, to the extent the same have become due and payable (unless, with respect to such other Taxes, the criteria set forth in Section 7.5 are being met). The No Borrower does not know knows of any proposed assessment of Taxes of a material amount against it and all liabilities for Taxes of the each Borrower are adequately provided for.

Appears in 1 contract

Samples: Credit Agreement (Toreador Royalty Corp)

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Taxes and Filing of Tax Returns. The Borrower has filed or properly extended all returns required to have been filed or extended with respect to Taxes and has paid all Taxes shown to be due and payable by it on such returns, including interest and penalties, and all other Taxes which are payable by it, to the extent the same have become due and payable (unless, with respect to such other Taxes, the criteria set forth in Section SECTION 7.5 are being met). The Borrower does not know of any proposed assessment of Taxes of a material amount against it and all liabilities for Taxes of the Borrower are adequately provided for.

Appears in 1 contract

Samples: Credit Agreement (Gladstone Resources Inc)

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