Taxes, Returns and Payments. Each of the Borrower and the other Group Companies has filed or caused to be filed all tax returns which are required to be filed by it and has paid or caused to be paid all taxes shown to be due or payable on such returns or on any assessment received by it, to the extent such taxes have become due and payable in a timely manner, except those taxes the validity, application or amount of which is being contested by it in good faith (and for the payment of which adequate reserves have been provided, being not less than an amount which would be required to be reserved in accordance with the applicable accounting standards) by appropriate proceedings being diligently pursued.
Appears in 4 contracts
Samples: Facility Agreement (China Security & Surveillance Technology, Inc.), Agreement (China Security & Surveillance Technology, Inc.), Term Loan Facility Agreement (Harbin Electric, Inc)
Taxes, Returns and Payments. Each of the The Borrower and the other Group Companies has filed or caused to be filed all tax returns which are required to be filed by it and has paid or caused to be paid all taxes shown to be due or payable on such returns or on any assessment received by it, to the extent such taxes have become due and payable in a timely manner, except those taxes the validity, application or amount of which is being contested by it in good faith (and for the payment of which adequate reserves have been provided, being not less than an amount which would be required to be reserved in accordance with the applicable accounting standards) by appropriate proceedings being diligently pursued.
Appears in 1 contract
Samples: Agreement (China Security & Surveillance Technology, Inc.)
