Taxes, Charges and Liens. (a) Pay and discharge when due and prior to the date on which penalties would attach, all of Borrower's indebtedness and obligations, including, without limitation, all assessments, taxes, governmental charges, levies and liens, of every kind and nature, imposed upon Borrower or its properties, income, or profits, and all lawful claims that, if unpaid, might become a lien or charge upon any of Borrower's properties, income, or profits; provided, however, Borrower will not be required to pay and discharge any such assessment, tax, charge, xxxx, xxxx or claim so long as (i) the legality of the same shall be contested in good faith by appropriate proceedings, and (ii) Borrower shall have established or caused to have been established adequate reserves with respect to such contested assessment, tax, charge, levy, lien, or claim in accordance with GAAP. (b) Borrower, upon demand of Lender, will furnish to Lender evidence of payment of the assessments, taxes, charges, levies, liens and claims and will authorize the appropriate governmental official to deliver to Lender at any time a written statement of any assessments, taxes, charges, levies, liens and claims against Borrower's properties, income, or profits.
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Samples: Export Loan Agreement (Fuelcell Energy Inc), Export Loan Agreement (Fuelcell Energy Inc), Export Loan Agreement (Fuelcell Energy Inc)
Taxes, Charges and Liens. (a) Pay and discharge when due and prior to the date on which penalties would attach, all of Borrower's indebtedness its Indebtedness and obligations, including, including without limitation, limitation all assessments, taxes, governmental charges, levies and liens, of every kind and nature, imposed upon the Borrower or its properties, income, or profits, prior to the date on which penalties, would attach, and all lawful claims that, if unpaid, might become a lien or charge upon any of the Borrower's properties, income, or profits; provided, provided however, the Borrower will not be required to pay and discharge any such assessment, tax, charge, xxxx, xxxx or claim so long as (i) the legality of the same shall be contested in good faith by appropriate proceedings, and (ii) the Borrower shall have established or caused to have been established on its books adequate reserves with respect to such contested assessment, tax, charge, levy, lien, or claim in accordance with GAAP.
(b) . The Borrower, upon demand of Lenderthe Administrative Agent, will furnish to Lender the Administrative Agent evidence of payment of the assessments, taxes, charges, levies, liens and claims and will authorize the appropriate governmental official to deliver to Lender the Administrative Agent at any time a written statement of any assessments, taxes, charges, levies, liens and claims against the Borrower's properties, income, or profits.
Appears in 3 contracts
Samples: Loan Agreement (Cutter & Buck Inc), Loan Agreement (Cutter & Buck Inc), Loan Agreement (Cutter & Buck Inc)
Taxes, Charges and Liens. (a) Pay and discharge when due and prior to the date on which penalties would attach, all of Borrower's indebtedness its Indebtedness and obligations, including, without limitation, including all assessments, taxes, governmental charges, levies and liens, of every kind and nature, imposed upon the Borrower or its properties, income, or profits, prior to the date on which penalties, would attach, and all lawful claims that, if unpaid, might become a lien or charge upon any of the Borrower's properties, income, or profits; provided, provided however, the Borrower will not be required to pay and discharge any such assessment, tax, charge, xxxx, xxxx or claim so long as (i) the legality of the same shall be contested in good faith by appropriate proceedings, and (ii) the Borrower shall have established or caused to have been established on its books adequate reserves with respect to such contested assessment, tax, charge, levy, lien, or claim in accordance with GAAP.
(b) . The Borrower, upon demand of Lenderthe Administrative Agent, will furnish to Lender the Administrative Agent evidence of payment of the assessments, taxes, charges, levies, liens and claims and will authorize the appropriate governmental official to deliver to Lender the Administrative Agent at any time a written statement of any assessments, taxes, charges, levies, liens and claims against the Borrower's properties, income, or profits.
Appears in 2 contracts
Samples: Loan Agreement (Cutter & Buck Inc), Loan Agreement (Cutter & Buck Inc)
Taxes, Charges and Liens. (a) Pay Borrower agrees to pay and discharge when due and prior to the date on which penalties would attach, all of Borrower's its indebtedness and obligations, including, including without limitation, limitation all assessments, taxes, governmental charges, levies and liens, of every kind and nature, imposed upon Borrower or its properties, income, or profitsprofits of Borrower, prior to the date on which penalties would attach, and all lawful claims that, if unpaid, might become a lien or charge upon any of Borrower's the properties, income, or profits; providedprofits of Borrower. Provided, however, Borrower will not be required to pay and discharge any such assessment, tax, charge, xxxxlxxx, xxxx or claim so long as (ia) the legality of the same shall be contested in good faith by appropriate proceedings, and (iib) Borrower shall have established or caused to have been established on its books adequate reserves with respect to such contested assessment, tax, charge, levy, lien, or claim in accordance with GAAP.
(b) . Borrower, upon demand of Lender, will furnish to Lender evidence of payment of the assessments, taxes, charges, levies, liens and claims and will authorize the appropriate governmental official to deliver to Lender at any time a written statement of any assessments, taxes, charges, levies, liens and claims against Borrower's properties, income, or profitsprofits of Borrower.
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Taxes, Charges and Liens. (a) Pay and discharge when due and prior to the date on which penalties would attach, all of Borrower's ’s indebtedness and obligations, including, without limitation, all assessments, taxes, governmental charges, levies and liens, of every kind and nature, imposed upon Borrower or its properties, income, or profits, and all lawful claims that, if unpaid, might become a lien or charge upon any of Borrower's ’s properties, income, or profits; provided, however, Borrower will not be required to pay and discharge any such assessment, tax, charge, xxxx, xxxx or claim so long as (i) the legality of the same shall be contested in good faith by appropriate proceedings, and (ii) Borrower shall have established or caused to have been established adequate reserves with respect to such contested assessment, tax, charge, levy, lien, or claim in accordance with GAAP.
(b) Borrower, upon demand of Lender, will furnish to Lender evidence of payment of the assessments, taxes, charges, levies, liens and claims and will authorize the appropriate governmental official to deliver to Lender at any time a written statement of any assessments, taxes, charges, levies, liens and claims against Borrower's ’s properties, income, or profits.
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