Common use of Taxes and Obligations Clause in Contracts

Taxes and Obligations. Each Borrower shall pay and discharge (a) all taxes, assessments and governmental charges or levies imposed on it or its income or profits or any of its properties prior to the date on which penalties attach thereto and (b) all lawful obligations and claims which, if unpaid, might cause a lien or charge to be created against any of its properties, except any such tax, assessment, charge or levy, the payment of which is being contested in good faith by proper proceedings, provided escrows, satisfactory to the Lender, have been established by a Borrower.

Taxes and Obligations. Each The Borrower shall pay and discharge (a) all taxes, assessments and governmental charges or levies imposed on it them or its their income or profits or any of its their properties prior to the date on which penalties attach thereto and (b) all lawful obligations and claims which, if unpaid, might cause a lien or charge to be created against any of its their properties, except any such tax, assessment, charge or levy, the payment of which is being contested in good faith by proper proceedings, provided escrows, satisfactory to the LenderBank, have been established by a the Borrower.

Taxes and Obligations. Each Borrower shall pay and discharge (a) all taxes, assessments and governmental charges or levies imposed on it or its income or profits or any of its properties prior to the date on which penalties attach thereto and (b) all lawful obligations and claims which, if unpaid, might cause a lien or charge to be created against any of its properties, except any such tax, assessment, charge or levy, the payment of which is being contested in good faith by proper proceedings, provided escrows, satisfactory to the LenderBank, have been established by a esta Borrower.