Common use of Taxes; Encumbrances Clause in Contracts

Taxes; Encumbrances. At its option, the Collateral Agent may, but is under no obligation to, discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant to Section 6.02 of the Indenture, and may pay for the maintenance and preservation of the Collateral, in each case to the extent any Grantor fails to do so as required by the Indenture or this Agreement and such failure shall continue beyond any applicable notice and cure period, and each Grantor jointly and severally agrees to reimburse the Collateral Agent on demand for any payment made or any expense incurred by the Collateral Agent pursuant to the foregoing authorization; provided, however, that nothing in this Section 4.07 shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, liens, security interests or other encumbrances and maintenance as set forth herein or in the other Transaction Documents.

Appears in 3 contracts

Samples: Security Agreement (Memc Electronic Materials Inc), Indenture (Memc Electronic Materials Inc), Indenture (Memc Electronic Materials Inc)

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Taxes; Encumbrances. At its option, the Collateral Agent may, but is under no obligation to, may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant to Section 6.02 4.10 of the Indenture (or after the occurrence and during the continuation of an Event of Default, whether or not permitted pursuant to Section 4.10 of the Indenture), and may pay for the maintenance and preservation of the Collateral, in each case Collateral to the extent any Grantor fails to do so as required by the Indenture or this Agreement and such failure shall continue beyond any applicable notice and cure periodAgreement, and each Grantor jointly and severally agrees to reimburse the Collateral Agent on demand for any payment made or any expense reasonably incurred by the Collateral Agent pursuant to the foregoing authorization; provided, however, that nothing in this Section 4.07 4.06 shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, liensLiens, security interests or other encumbrances and maintenance as set forth herein or in the other Transaction Note Documents.

Appears in 2 contracts

Samples: Security Agreement (Great Atlantic & Pacific Tea Co Inc), Security Agreement (Great Atlantic & Pacific Tea Co Inc)

Taxes; Encumbrances. At its option, the Collateral Agent may, but is under no obligation to, may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant to Section 6.02 of the IndentureRevolving Credit Agreement, and may pay for the maintenance and preservation of the Collateral, in each case to the extent any Grantor fails to do so as required by the Indenture Reimbursement Agreement or this Agreement and such failure shall continue beyond any applicable notice and cure period, and each Grantor jointly and severally agrees to reimburse the Collateral Agent on demand for any payment made or any expense incurred by the Collateral Agent pursuant to the foregoing authorization; provided, however, that nothing in this Section 4.07 4.06 shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, liens, security interests or other encumbrances and maintenance as set forth herein or in the other Transaction Reimbursement Documents.

Appears in 2 contracts

Samples: Security Agreement (Memc Electronic Materials Inc), Reimbursement Agreement (Memc Electronic Materials Inc)

Taxes; Encumbrances. At its option, the Collateral Agent may, but is under no obligation to, may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant to Section 6.02 of the IndentureCredit Agreement, and may pay for the maintenance and preservation of the Collateral, in each case to the extent any Grantor fails to do so as required by the Indenture Credit Agreement or this Agreement and such failure shall continue beyond any applicable notice and cure periodAgreement, and each Grantor jointly and severally agrees to reimburse the Collateral Agent on demand for any payment made or any expense incurred by the Collateral Agent pursuant to the foregoing authorization; providedPROVIDED, howeverHOWEVER, that nothing in this Section 4.07 4.06 shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, liens, security interests or other encumbrances and maintenance as set forth herein or in the other Transaction Loan Documents.

Appears in 2 contracts

Samples: Security Agreement (American Media Operations Inc), Security Agreement (Marketing Services Inc)

Taxes; Encumbrances. At Each Grantor shall pay and discharge all of its optionmaterial Taxes and all lawful claims in accordance with Section 5.14 of the Credit Agreement. In its reasonable discretion, the Collateral Agent may, but is under no obligation to, may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant except to Section 6.02 of the Indentureextent the same constitute Permitted Liens, and may pay for the maintenance and preservation of the Collateral, in each case Collateral to the extent any Grantor fails to do so as required by the Indenture or this Agreement and (in each case with reasonable prior written notice to such failure shall continue beyond any applicable notice and cure periodGrantor), and each Grantor jointly and severally agrees to reimburse the Collateral Agent on within 20 days of written demand for any payment made or any expense incurred by the Collateral Agent pursuant to the foregoing authorization; provided, however, that nothing in this Section 4.07 4.05 shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, liens, security interests or other encumbrances and maintenance as set forth herein or in the other Transaction Loan Documents.

Appears in 1 contract

Samples: Security Agreement (Solutia Inc)

Taxes; Encumbrances. At its option, the Collateral Agent may, but is under no obligation to, may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant to Section 6.02 of the Credit Agreement and Section 4.14 of the Indenture, and may pay for the maintenance and preservation of the Collateral, in each case to the extent any Grantor fails to do so as required by the Indenture Credit Agreement or this Agreement and such failure shall continue beyond any applicable notice and cure periodAgreement, and each Grantor jointly and severally agrees to reimburse the Collateral Agent on demand for any payment made or any expense incurred by the Collateral Agent pursuant to the foregoing authorization; provided, however, provided that nothing in this Section 4.07 4.05 shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, liens, security interests or other encumbrances and maintenance as set forth herein or in the other Transaction Security Documents, the Senior Loan Documents or the Indenture Documents.

Appears in 1 contract

Samples: Security Agreement (On Semiconductor Corp)

Taxes; Encumbrances. At its option, on five days' prior notice to the Borrower, the Collateral Agent may, but is under no obligation to, may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant to Section 6.02 of the IndentureCredit Agreement, and may pay for the maintenance and preservation of the Collateral, in each case Collateral to the extent any Grantor fails to do so as required by the Indenture Credit 155 9 Agreement or this Agreement and such failure shall continue beyond any applicable notice and cure periodAgreement, and each Grantor jointly and severally agrees to reimburse the Collateral Agent on demand for any payment made or any expense incurred by the Collateral Agent pursuant to the foregoing authorization; provided, however, that nothing in this Section 4.07 4.06 shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, liens, security interests or other encumbrances and maintenance as set forth herein or in the other Transaction Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Hechinger Co)

Taxes; Encumbrances. At its option, upon not less than 10 days prior written notice to the Grantor, the Collateral Agent may, but is under no obligation to, may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant to Section 6.02 of under the Indenture, and may pay for the maintenance and preservation of the Collateral, in each case Collateral to the extent any the Grantor fails to do so as required by the Indenture or this Agreement and such failure shall continue beyond any applicable notice and cure periodAgreement, and each the Grantor jointly and severally agrees to reimburse the Collateral Agent on demand for any reasonable payment made or any expense other expenses incurred by the Collateral Agent pursuant to the foregoing authorization; provided, however, that nothing in this Section 4.07 shall be interpreted as excusing any the Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any the Grantor with respect to taxes, assessments, charges, fees, liensLiens, security interests or other encumbrances and maintenance as set forth herein or in the other Transaction Security Documents.

Appears in 1 contract

Samples: Security Agreement (MGC Communications Inc)

Taxes; Encumbrances. At its option, the either Collateral Agent may, but is under no obligation to, may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant except to Section 6.02 of the Indentureextent the same constitute Permitted Liens, and may pay for the maintenance and preservation of the Collateral, in each case Collateral to the extent any Grantor fails to do so as required by the Indenture or this Agreement and (in each case with reasonable prior notice to such failure shall continue beyond any applicable notice and cure periodGrantor), and each Grantor jointly and severally agrees to reimburse the each Collateral Agent on written demand for any payment made or any expense incurred by the such Collateral Agent pursuant to the foregoing authorization; provided, however, that nothing in this Section 4.07 4.05 shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the either Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, liens, security interests or other encumbrances and maintenance as set forth herein or in the other Transaction Loan Documents.

Appears in 1 contract

Samples: Security Agreement (Polymer Group Inc)

Taxes; Encumbrances. At its optionoption and after notice to the applicable Grantor, the Collateral Agent may, but is under no obligation to, may discharge past due taxes, assessments, charges, fees, Liens, Exhibit 10.2 security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant to Section 6.02 of the IndentureAmended and Restated Credit Agreement, and may pay for the maintenance and preservation of the Collateral, in each case Collateral to the extent any Grantor fails to do so as required by the Indenture Amended and Restated Credit Agreement or this Agreement and such failure shall continue beyond any applicable notice and cure periodAgreement, and each Grantor jointly and severally agrees to reimburse the Collateral Agent on demand for any payment made or any expense incurred by the Collateral Agent pursuant to the foregoing authorization; provided, however, that nothing in this Section 4.07 4.06 shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, liens, security interests or other encumbrances and maintenance as set forth herein or in the other Transaction Credit Documents.

Appears in 1 contract

Samples: Security Agreement (Hudson Respiratory Care Inc)

Taxes; Encumbrances. At Subject to Section 5.03 of the Credit Agreement, at its option, the Collateral Agent may, but is under no obligation to, may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant to Section 6.02 of the IndentureCredit Agreement, and may pay for the maintenance and preservation of the Collateral, in each case Collateral to the extent any Grantor fails to do so as required by the Indenture Credit Agreement or this Agreement and such failure shall continue beyond any applicable notice and cure periodan Event of Default exists as a result thereof or otherwise, and each Grantor jointly and severally agrees to reimburse the Collateral Agent on demand for any payment made or any expense incurred by the Collateral Agent pursuant to the foregoing authorization; provided, however, that nothing in this Section 4.07 4.06 shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, liens, security interests or other encumbrances and maintenance as set forth herein or in the other Transaction Loan Documents.

Appears in 1 contract

Samples: Security Agreement (Bremen Bearings Inc)

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Taxes; Encumbrances. At its option, the Collateral Agent may, but is under no obligation to, may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant to Section 6.02 of the IndentureCredit Agreement (including any such Lien expressly permitted pursuant to such Section 6.02 in respect of which a release in a form acceptable to the Collateral Agent has been delivered to the Collateral Agent), and may pay for the maintenance and preservation of the Collateral, in each case Collateral to the extent any Grantor fails to do so as required by the Indenture Credit Agreement or this Agreement and such failure shall continue beyond any applicable notice and cure periodAgreement, and each Grantor jointly and severally agrees to reimburse the Collateral Agent on demand for any payment made or any expense incurred by the Collateral Agent pursuant to the foregoing authorization; providedPROVIDED, howeverHOWEVER, that nothing in this Section 4.07 4.06 shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, liens, security interests or other encumbrances and maintenance as set forth herein or in the other Transaction Loan Documents.

Appears in 1 contract

Samples: Security Agreement (Wright Medical Group Inc)

Taxes; Encumbrances. At any time the Senior Credit Facility is not a Minimum Size Credit Facility, at its option, the Collateral Agent may, but is under no obligation to, may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant to Section 6.02 Sections 4.08 or 4.20 of the Indenture, and may pay for the maintenance and preservation of the Collateral, in each case to the extent any Grantor fails to do so as required by the Indenture or this Agreement and such failure shall continue beyond any applicable notice and cure periodAgreement, and each Grantor jointly and severally agrees to reimburse the Collateral Agent on demand for any payment made or any expense incurred by the Collateral Agent pursuant to the foregoing authorization; provided, however, that nothing in this Section 4.07 4.05 shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, liens, security interests or other encumbrances and maintenance as set forth herein or in the other Transaction Indenture Documents.

Appears in 1 contract

Samples: Security Agreement (Seagate Technology)

Taxes; Encumbrances. At its option, the Collateral Agent may, but is under no obligation to, Trustee or any Secured Party may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant to Section 6.02 6.02A of the IndentureCredit Agreement, and may pay for the maintenance and preservation of the Collateral, in each case Collateral to the extent any Subsidiary Grantor fails to do so as required by the Indenture Credit Agreement or this Agreement and such failure shall continue beyond any applicable notice and cure periodAgreement, and each Subsidiary Grantor jointly and severally agrees to reimburse the Collateral Agent Trustee or such Secured Party on demand for any payment made or any expense incurred by the Collateral Agent Trustee or such Secured Party pursuant to the foregoing authorization; provided, however, that nothing in this Section 4.07 4.06 shall be interpreted as excusing any Subsidiary Grantor from the performance of, or imposing any obligation on the Collateral Agent Trustee or any Secured Party to cure or perform, any covenants or other promises of any Subsidiary Grantor with respect to taxes, assessments, charges, fees, liens, security interests or other encumbrances and maintenance as set forth herein or in the other Transaction Loan Documents.

Appears in 1 contract

Samples: Shared Collateral Security Agreement (Allied Waste Industries Inc)

Taxes; Encumbrances. At its option, the Collateral Agent may, but is under no obligation to, Trustee or any Secured Party may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant to Section 6.02 of the IndentureCredit Agreement, and may pay for the maintenance and preservation of the Collateral, in each case Collateral to the extent any Subsidiary Grantor fails to do so as required by the Indenture Credit Agreement or this Agreement and such failure shall continue beyond any applicable notice and cure periodAgreement, and each Subsidiary Grantor jointly and severally agrees to reimburse the Collateral Agent Trustee or such Secured Party on demand for any payment made or any expense incurred by the Collateral Agent Trustee or such Secured Party pursuant to the foregoing authorization; provided, however, that nothing in this Section 4.07 4.06 shall be interpreted as excusing any Subsidiary Grantor from the performance of, or imposing any obligation on the Collateral Agent Trustee or any Secured Party to cure or perform, any covenants or other promises of any Subsidiary Grantor with respect to taxes, assessments, charges, fees, liensLiens, security interests or other encumbrances and maintenance as set forth herein or in the other Transaction Loan Documents.

Appears in 1 contract

Samples: Shared Collateral Security Agreement (Allied Waste North America Inc/De/)

Taxes; Encumbrances. At its option, the Collateral Agent may, but is under no obligation to, may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant to Section 6.02 of the IndentureRevolving Credit Agreement, and may pay for the maintenance and preservation of the Collateral, in each case to the extent any Grantor fails to do so as required by the Indenture Revolving Credit Agreement or this Agreement and such failure shall continue beyond any applicable notice and cure period, and each Grantor jointly and severally agrees to reimburse the Collateral Agent on demand for any payment made or any expense incurred by the Collateral Agent pursuant to the foregoing authorization; provided, however, that nothing in this Section 4.07 4.06 shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure cur or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, liens, security interests or other encumbrances and maintenance as set forth herein or in the other Transaction Loan Documents.

Appears in 1 contract

Samples: Security Agreement (Memc Electronic Materials Inc)

Taxes; Encumbrances. At its option, the Collateral Agent may, but is under no obligation to, may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not permitted pursuant except to Section 6.02 of the Indentureextent the same constitute Permitted Liens, and may pay for the maintenance and preservation of the Collateral, in each case Collateral to the extent any Grantor fails to do so as required by the Indenture or this Agreement and (in each case with reasonable prior written notice to such failure shall continue beyond any applicable notice and cure periodGrantor), and each Grantor jointly and severally agrees to reimburse the Collateral Agent on within 15 days of written demand for any payment made or any expense incurred by the Collateral Agent pursuant to the foregoing authorization; provided, however, that nothing in this Section 4.07 4.05 shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, liens, security interests or other encumbrances and maintenance as set forth herein or in the other Transaction Loan Documents.

Appears in 1 contract

Samples: Security Agreement (Polymer Group Inc)

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