Unpaid Bills. (a) Schedule 3.25 identifies all vendors that have provided goods or services to Borrower in connection with the development of the Properties during the six calendar months preceding this Agreement. (b) Borrower does not have any past due bills for improvements to the Collateral that could give rise to mechanics’ or materialmen’s Liens or other similar Liens arising by operation of law that could rank in priority ahead of any of the Liens arising under the Security Documents, except for bills being diligently contested in good faith by Borrower and against which Borrower maintains adequate reserves in accordance with GAAP.
Appears in 4 contracts
Samples: Credit Agreement (American Standard Energy Corp.), Credit Agreement (Voyager Oil & Gas, Inc.), Credit Agreement (American Standard Energy Corp.)
