Contested Taxes is defined in Section 6.7.

Contested Taxes means a Tax payable by an Obligor:

Contested Taxes means any tax, assessment, charge or claim whose amount, applicability or validity is diligently being contested in good faith by appropriate proceedings; provided, however, if the failure to pay such Contested Taxes results in a Lien on the Real Estate Collateral, (a) Borrowers shall obtain title insurance endorsements and bonds or other security in a manner acceptable to Collateral Agent in its reasonable but sole discretion, and (b) Borrowers must demonstrate to Collateral Agent’s reasonable satisfaction that the proceedings will conclusively operate to prevent the sale of any Real Estate Collateral in order to satisfy the Lien prior to the final determination of such proceedings.

Examples of Contested Taxes in a sentence

Pay, and require each of its Subsidiaries to pay, all federal, state, local and foreign Taxes owed by Borrower and each of its Subsidiaries before the same shall become delinquent, except (i) for deferred payment of any Contested Taxes or (ii) to the extent the failure to pay such Taxes would not reasonably be expected to have a Material Adverse Effect.
Pay, and require each of its Subsidiaries to pay, all federal, state, local and foreign Taxes owed by Borrower and each of its Subsidiaries before the same shall become delinquent, except (i) for deferred payment of any Contested Taxes or (ii) to the extent the failure to pay such Taxes could not reasonably be expected to have a Material Adverse Effect.
Buyer shall have the right to participate in the conduct of any Tax contest relating to the Contested Taxes at its own expense, including through its own counsel and other professional experts and shall be entitled to control such Tax contest in the event that Seller fails to do so.
Schedule 3.16(a) identifies all Contested Taxes and the status of any proceeding with respect thereto.
If Buyer fails to provide such notice to Seller, Buyer shall not be entitled to indemnification for such Contested Taxes if the failure shall preclude Seller from contesting the Tax.

More Definitions of Contested Taxes

Contested Taxes is defined in Section 5.10(g).

Contested Taxes means any Impositions which Borrower is contesting in accordance with the provisions of the Loan Documents.

Contested Taxes means a Tax assessed as payable by a person where the person:

Contested Taxes is defined in Section ARTICLE 7(i)(B).

Contested Taxes has the meaning given in Clause 13.15(a)(ii) (Tax affairs).

Contested Taxes shall have the meaning set forth in Section 13.3.

Contested Taxes means a Tax assessed as payable by a person: (a) which is being diligently contested by it in good faith and in accordance with proper procedures and laws; (b) which is not required by applicable law to be paid before the contest is determined; and (c) in respect of which the Financier is satisfied that the person has set aside sufficient reserves of liquid assets to pay the Tax and any fine, penalty or interest payable if the contest is unsuccessful.