Common use of Taxes; Governmental Charges Clause in Contracts

Taxes; Governmental Charges. Borrowers have each filed all tax returns and reports required to be filed and has paid all taxes, assessments, fees and other governmental charges levied upon them or their assets, properties or income which are due and payable, including interest and penalties, the failure of which to pay could reasonably be expected to have a Material Adverse Effect, except such as are being contested in good faith by appropriate proceedings and for which adequate reserves for the payment thereof as required by GAAP has been provided and levy and execution thereon have been stayed and continue to be stayed.

Appears in 5 contracts

Samples: Credit Agreement (Continental Resources Inc), Credit Agreement (Canaan Energy Corp), Credit Agreement (Continental Resources Inc)

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Taxes; Governmental Charges. Borrowers Borrower and each Guarantor have each filed all tax returns and reports required to be filed and has paid all taxes, assessments, fees and other governmental charges levied upon them it or their its assets, properties or income which are due and payable, including interest and penalties, the failure of which to pay could reasonably be expected to have a Material Adverse Effect, except such as are being contested in good faith by appropriate proceedings and for which adequate reserves for the payment thereof as required by GAAP has been provided and levy and execution thereon have been stayed and continue to be stayed.

Appears in 3 contracts

Samples: Credit Agreement (Exco Resources Inc), Credit Agreement (Exco Resources Inc), Credit Agreement (Exco Resources Inc)

Taxes; Governmental Charges. Borrowers Borrower and each of its Subsidiaries have each filed all tax returns and reports required to be filed and has paid all taxes, assessments, fees and other governmental charges levied upon them it or their its assets, properties or income which are due and payable, including interest and penalties, the failure of which to pay could reasonably be expected to have a Material Adverse Effect, except such as are being contested in good faith by appropriate proceedings and for which adequate reserves for the payment thereof as required by GAAP has been provided and levy and execution thereon have been stayed and continue to be stayed.

Appears in 3 contracts

Samples: Credit Agreement (Atwood Oceanics Inc), Credit Agreement (Atwood Oceanics Inc), Credit Agreement (Atwood Oceanics Inc)

Taxes; Governmental Charges. Borrowers have Borrower and each Guarantor has filed all tax returns and reports required to be filed and has paid all taxes, assessments, fees and other governmental charges levied upon them it or their its assets, properties or income which are due and payable, including interest and penalties, the failure of which to pay could reasonably be expected to have a Material Adverse Effect, except such as are being contested in good faith by appropriate proceedings and for which adequate reserves for the payment thereof as required by GAAP has been provided and levy and execution thereon have been stayed and continue to be stayed.

Appears in 3 contracts

Samples: Credit Agreement (Parallel Petroleum Corp /De/), Credit Agreement (Range Resources Corp), Credit Agreement (Newpark Resources Inc)

Taxes; Governmental Charges. Borrowers Each Borrower and each of their Subsidiaries have each filed all tax returns and reports required to be filed and has paid all taxes, assessments, fees and other governmental charges levied upon them it or their its assets, properties or income which are due and payable, including interest and penalties, the failure of which to pay could reasonably be expected to have a Material Adverse Effect, except such as are being contested in good faith by appropriate proceedings and for which adequate reserves for the payment thereof as required by GAAP has been provided and levy and execution thereon have been stayed and continue to be stayed.

Appears in 3 contracts

Samples: Credit Agreement (Atwood Oceanics Inc), Credit Agreement (Atwood Oceanics Inc), Credit Agreement (Atwood Oceanics Inc)

Taxes; Governmental Charges. Borrowers have each Each Borrower and Guarantor has filed all tax returns and reports required to be filed and has paid all taxes, assessments, fees and other governmental charges levied upon them it or their its assets, properties or income which are due and payable, including interest and penalties, the failure of which to pay could reasonably be expected to have a Material Adverse Effect, except such as are being contested in good faith by appropriate proceedings and for which adequate reserves for the payment thereof as required by GAAP has been provided and levy and execution thereon have been stayed and continue to be stayed.

Appears in 2 contracts

Samples: Credit Agreement (Parallel Petroleum Corp), Credit Agreement (Parallel Petroleum Corp)

Taxes; Governmental Charges. Borrowers have each Each Borrower has filed all tax --------------------------- returns and reports required to be filed and has paid all taxes, assessments, fees and other governmental charges levied upon them or their assets, properties or income which are due and payable, including interest and penalties, the failure of which to pay could reasonably be expected to have a Material Adverse Effect, except such as are being contested in good faith by appropriate proceedings and for which adequate reserves for the payment thereof as required by GAAP has been provided and levy and execution thereon have been stayed and continue to be stayed.

Appears in 2 contracts

Samples: Loan Agreement (Gothic Energy Corp), Loan Agreement (Gothic Energy Corp)

Taxes; Governmental Charges. Borrowers have each Borrower has filed all tax returns and reports required to be filed and has paid all taxes, assessments, fees and other governmental charges levied upon them or their assets, properties or income which are due and payable, including interest and penalties, the failure of which to pay could reasonably be expected to have presents a risk (other than a remote risk) of having a Material Adverse Effect, except such as are being contested in good faith by appropriate proceedings and for which adequate reserves for the payment thereof as required by GAAP has been provided and levy and execution thereon have been stayed and continue to be stayed.

Appears in 1 contract

Samples: Credit Agreement (Southwest Royalties Holdings Inc)

Taxes; Governmental Charges. Borrowers Borrower and each Guarantor have each filed all --------------------------- tax returns and reports required to be filed and has have paid all taxes, assessments, fees and other governmental charges levied upon them or their assets, properties or income which are due and payable, including interest and penalties, the failure of which to pay could reasonably be expected to have a Material Adverse Effect, except such as are being contested in good faith by appropriate proceedings and for which adequate reserves for the payment thereof as required by GAAP has have been provided and with respect to which levy and execution thereon have been stayed and continue to be stayed.

Appears in 1 contract

Samples: Loan Agreement (Diagnostic Health Services Inc /De/)

Taxes; Governmental Charges. Borrowers have Each Borrower and each Guarantor has filed all tax returns and reports required to be filed and has paid all taxes, assessments, fees and other governmental charges levied upon them it or their its assets, properties or income which are due and payable, including interest and penalties, the failure of which to pay could reasonably be expected to have a Material Adverse Effect, except such as are being contested in good faith by appropriate proceedings and for which adequate reserves for the payment thereof as required by GAAP has been provided and levy and execution thereon have been stayed and continue to be stayed.

Appears in 1 contract

Samples: Credit Agreement (Range Resources Corp)

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Taxes; Governmental Charges. Borrowers have each Borrower has filed all tax returns and reports required to be filed and has paid all taxes, assessments, fees and other governmental charges levied upon them it or their its assets, properties or income which are due and payable, including interest and penalties, the failure of which to pay could reasonably be expected to have a Material Adverse Effect, except such as are being contested Contested in good faith Good Faith by appropriate proceedings and for which adequate reserves for the payment thereof as required by GAAP has been provided and levy and execution thereon have been stayed and continue to be stayed.

Appears in 1 contract

Samples: Credit Agreement (Panhandle Oil & Gas Inc)

Taxes; Governmental Charges. Borrowers have each Each Borrower has filed all tax --------------------------- returns and reports required to be filed and has paid all taxes, assessments, fees and other governmental charges levied upon them it or their its assets, properties or income which are due and payable, including interest and penalties, the failure of which to pay could reasonably be expected to have a Material Adverse Effect, except such as are being contested in good faith by appropriate proceedings and for which adequate reserves for the payment thereof as required by GAAP has been provided and levy and execution thereon have been stayed and continue to be stayed.

Appears in 1 contract

Samples: Credit Agreement (3tec Energy Corp)

Taxes; Governmental Charges. Borrowers have each Borrower has filed all tax returns and reports required to be filed and has paid all taxes, assessments, fees and other governmental charges levied upon them it or their its assets, properties or income which are due and payable, including interest and penalties, the failure of which to pay could reasonably be expected to have a Material Adverse Effect, except such as are being contested in good faith by appropriate proceedings and for which adequate reserves for the payment thereof as required by GAAP has been provided and levy and execution thereon have been stayed and continue to be stayed.

Appears in 1 contract

Samples: Loan Agreement (Maynard Oil Co)

Taxes; Governmental Charges. Borrowers Borrower and Guarantor have each filed all tax returns and reports required to be filed and has paid all taxes, assessments, fees and other governmental charges levied upon them or their assets, properties or income which are due and payable, including interest and penalties, the failure of which to pay could reasonably be expected to have a Material Adverse Effect, except such as are being contested in good faith by appropriate proceedings and for which adequate reserves for the payment thereof as required by GAAP has been provided and levy and execution thereon have been stayed and continue to be stayed.

Appears in 1 contract

Samples: Loan Agreement (Gothic Energy Corp)

Taxes; Governmental Charges. Borrowers have Borrower and each Subsidiary has filed all tax returns and reports required to be filed and has paid all taxes, assessments, fees and other governmental charges levied upon them it or their its assets, properties or income which are due and payable, including interest and penalties, the failure of which to pay could reasonably be expected to have a Material Adverse Effect, except such as are being contested in good faith by appropriate proceedings and for which adequate reserves for the payment thereof as required by GAAP has been provided and levy and execution thereon have been stayed and continue to be stayed.

Appears in 1 contract

Samples: Credit Agreement (Parallel Petroleum Corp)

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