Common use of Taxes, Levies, Etc Clause in Contracts

Taxes, Levies, Etc. The Debtor has paid and shall continue to pay when due all taxes, levies, assessments, or other charges which may become an enforceable lien against the Collateral, unless such taxes, levies, assessments, or other charges are being contested by the Debtor in good faith and by appropriate proceedings and then only to the extent reasonable reserves required by generally accepted accounting principles have been set aside on the Debtor's books therefor.

Taxes, Levies, Etc. The Debtor has paid and shall continue to pay when due all taxes, levies, assessments, or other charges which may become an enforceable lien against the Collateral, unless except such taxes, levies, assessments, or other charges are being contested by the Debtor in good faith and by appropriate proceedings diligently prosecuted and then only to the extent for which reasonable reserves required by generally accepted accounting principles have been set aside on the books of the Debtor's books therefor.