Trade Indebtedness Clause Samples
The Trade Indebtedness clause defines and governs the obligations a party has to pay for goods or services acquired in the ordinary course of business. It typically applies to debts arising from routine commercial transactions, such as unpaid invoices to suppliers or vendors, and may set out terms for payment periods, interest on overdue amounts, or priority of such debts in the event of insolvency. The core function of this clause is to clarify the treatment and management of trade-related debts, ensuring that both parties understand their rights and responsibilities regarding payment for ongoing business operations.
Trade Indebtedness. Each Borrower and Operating Lessee will pay its trade payables within sixty (60) days of the date incurred, unless such Borrower or Operating Lessee is in good faith contesting such Borrower’s obligation to pay such trade payables in a manner reasonably satisfactory to Lender (which may include Lender’s requirement that such Borrower or Operating Lessee post security with respect to the contested trade payable).
Trade Indebtedness. Each Borrower will pay its trade payables within sixty (60) days of the date incurred, unless such Borrower is in good faith contesting such Borrower's obligation to pay such trade payables in a manner reasonably satisfactory to Lender (which may include Lender's requirement that such Borrower post security with respect to the contested trade payable).
Trade Indebtedness. Borrower shall pay its trade payables and operational debt upon the earlier to occur of (a) sixty (60) days of the date invoiced, and (b) the date the same is due and payable.
Trade Indebtedness. Manager will pay its trade payables within ninety (90) days of the date incurred, unless Manager is in good faith contesting Manager's obligation to pay such trade payables in a manner reasonably satisfactory to Lender (which may include Lender's requirement that Manager, as the case may be, post security with respect to the contested trade payable).
Trade Indebtedness. Borrower will pay its trade payables within ninety (90) days of the date incurred, unless Borrower is in good faith contesting Borrower's obligation to pay such trade payables in a manner reasonably satisfactory to Lender (which may include Lender's requirement that Borrower, as the case may be, post security with respect to the contested trade payable).
Trade Indebtedness. Each of the Borrower, the Joint Venture, the Operators, and the Manager, as applicable, will pay its trade payables within thirty (30) days of the date incurred, unless any of the Borrower, the Joint Venture, the Operators, or the Manager, as applicable, is in good faith contesting its obligation to pay such trade payables in a manner satisfactory to Lender (which may include Lender's requirement that Borrower post security with respect to the contested trade payable).
Trade Indebtedness. Borrower will pay, and cause the ------------------ Subsequent Operator to pay, its trade payables within thirty (30) days of the date incurred, unless Borrower or the Subsequent Operator is in good faith contesting Borrower's or the Subsequent Operator's obligation to pay such trade payables in a manner satisfactory to Lender (which may include Lender's requirement that Borrower or the Subsequent Operator post security with respect to the contested trade payable).
Trade Indebtedness. Borrower will pay, its trade payables within ------------------ ninety (90) days of the date incurred, unless Borrower is in good faith contesting Borrower's obligation to pay such trade payables in a manner reasonably satisfactory to Mezzanine Lender (which may include Mezzanine Lender's requirement that Borrower, as the case may be, post security with respect to the contested trade payable).
Trade Indebtedness. Lessee will pay its trade payables within sixty (60) days of the date incurred, except for outstanding trade payables existing on the Closing Date which do not require payment within sixty (60) days, unless Lessee is in good faith contesting Lessee's obligation to pay such trade payables in a manner satisfactory to Lender (which may include Lender's requirement that Lessee post security with respect to the contested trade payable).
Trade Indebtedness. Operator will pay its trade payables within ------------------ ninety 101 (90) days of the date incurred, unless Operator is in good faith contesting Operator's obligation to pay such trade payables in a manner reasonably satisfactory to Lender (which may include Lender's requirement that Operator, as the case may be, post security with respect to the contested trade payable).