Common use of Accounts Payable Clause in Contracts

Accounts Payable. Each of the Company and its Subsidiaries shall promptly pay when due, or in conformity with customary trade terms, all accounts payable incident to the operations of such Person not referred to in Section 6.1.1; provided, however, that any such accounts payable need not be paid if the validity or amount thereof shall at the time be contested in good faith and if such Person shall have set aside on its books adequate reserves with respect thereto to the extent required by GAAP.

Appears in 4 contracts

Samples: Credit Agreement (Transmontaigne Inc), Credit Agreement (Transmontaigne Inc), Credit Agreement (Transmontaigne Inc)

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Accounts Payable. Each of the Company and its Subsidiaries ---------------- shall promptly pay when due, or in conformity with customary trade terms, all accounts payable incident to the operations of such Person not referred to in Section 6.1.1; provided, however, that any such accounts payable need -------- ------- not be paid if the validity or amount thereof shall at the time be contested in good faith and if such Person shall shall, in accordance with GAAP, have set aside on its books adequate reserves with respect thereto to the extent required by GAAPthereto.

Appears in 3 contracts

Samples: Credit Agreement (Westower Corp), Credit Agreement (Sba Communications Corp), Credit Agreement (Sba Communications Corp)

Accounts Payable. Each of the Company and its Subsidiaries shall promptly pay when due, or in conformity with customary trade termsterms or consistent with its past practice, all accounts payable incident to the operations of such Person not referred to in Section 6.1.1; provided, however, that any such accounts payable need not be paid if the validity or amount thereof shall at the time be contested in good faith and if such Person shall shall, in accordance with GAAP, have set aside on its books adequate reserves with respect thereto to the extent required by GAAPthereto.

Appears in 2 contracts

Samples: Credit Agreement (Doe Run Resources Corp), Credit Agreement (Doe Run Resources Corp)

Accounts Payable. Each of the Company Borrower and its Subsidiaries shall promptly pay when due, or in conformity with customary trade terms, all accounts payable incident to the operations of such Person not referred to in Section 6.1.1; provided, however, that any such accounts payable need not be paid if the validity or amount thereof shall at the time be contested in good faith and if such Person shall shall, in accordance with GAAP, have set aside on its books adequate reserves with respect thereto to the extent required by GAAPthereto.

Appears in 2 contracts

Samples: Credit Agreement (American Biltrite Inc), Loan Agreement (Candlewood Hotel Co Inc)

Accounts Payable. Each of the Company and its Subsidiaries shall promptly pay when due, or in conformity with customary trade terms, all accounts payable incident to the operations of such Person not referred to in Section 6.1.1; provided, however, that any such accounts payable need not be paid if the validity or amount thereof shall at the time be contested in good faith and if such Person shall shall, in accordance with GAAP, have set aside on its books adequate reserves with respect thereto to the extent required by GAAPthereto.

Appears in 2 contracts

Samples: Credit Agreement (American Biltrite Inc), Credit Agreement (American Tower Corp)

Accounts Payable. Each of the Company and Company, its Subsidiaries and the Restricted Affiliates shall promptly pay when due, or in conformity with customary trade terms, all accounts payable incident to the operations of such Person not referred to in Section 6.1.1; provided, however, that any such accounts payable need not be paid if the validity or amount thereof shall at the time be contested in good faith and if such Person shall shall, in accordance with GAAP, have set aside on its books adequate reserves with respect thereto to the extent required by GAAPthereto.

Appears in 1 contract

Samples: Credit Agreement (Element K Corp)

Accounts Payable. Each of the Company and its Significant Subsidiaries shall promptly pay when due, or in conformity with customary trade terms, all accounts payable incident to the operations of such Person not referred to in Section 6.1.1; provided, however, that any such accounts payable need not be paid if (a) the validity or amount thereof shall at the time be contested in good faith and if such Person shall shall, if required by GAAP, have set aside on its books adequate reserves with respect thereto or (b) failure to the extent required by GAAPcomply has not resulted, and is not likely to result, in any Material Adverse Change.

Appears in 1 contract

Samples: Credit Agreement (Central Maine Power Co)

Accounts Payable. Each The Company shall, and shall cause each of the Company and its Subsidiaries shall to, promptly pay when due, or in conformity with customary trade terms, all accounts payable incident to the operations of such Person not referred to in Section 6.1.1paragraph 5E(i); provided, however, that any such accounts payable need not be paid if the validity or amount thereof shall at the time be contested in good faith and if such Person shall have set aside on its books adequate reserves with respect thereto to the extent required by GAAP.

Appears in 1 contract

Samples: Master Shelf Agreement (Transmontaigne Inc)

Accounts Payable. Each of the Company and its Subsidiaries shall promptly pay when due, or in conformity with customary trade terms, all accounts payable incident to the operations of such Person not referred to in Section 6.1.1; providedPROVIDED, howeverHOWEVER, that any such accounts payable need not be paid if the validity or amount thereof shall at the time be contested in good faith and if such Person shall shall, in accordance with GAAP, have set aside on its books adequate reserves with respect thereto to the extent required by GAAPthereto.

Appears in 1 contract

Samples: Credit Agreement (Nextera Enterprises Inc)

Accounts Payable. Each of the Company and its Subsidiaries shall promptly pay when due, or in conformity with customary trade terms, all accounts payable incident to the operations of such Person not referred to in Section 6.1.110.1.1; provided, however, that any such accounts payable need not be paid if the validity or amount thereof shall at the time be contested in good faith and if such Person shall shall, in accordance with GAAP, have set aside on its books adequate reserves with respect thereto to the extent required by GAAPthereto.

Appears in 1 contract

Samples: Credit Agreement (Nextera Enterprises Inc)

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Accounts Payable. Each of the Company and its Subsidiaries shall promptly pay when due, or in conformity with customary trade terms, all accounts payable incident to the operations of such Person not referred to in Section 6.1.1; provided, however, that any such accounts payable Indebtedness need not be paid if the validity or amount thereof shall at the time be contested in good faith and if such Person shall shall, in accordance with GAAP, have set aside on its books adequate reserves with respect thereto to the extent required by GAAPthereto.

Appears in 1 contract

Samples: Credit Agreement (Racing Champions Corp)

Accounts Payable. Each of the Holding Company and its Subsidiaries shall promptly pay when due, or in conformity with customary trade terms, all accounts payable incident to the operations of such Person not referred to in Section 6.1.1; provided, however, that any such accounts payable need not be paid if the validity or amount thereof shall at the time be contested in good faith and if such Person shall shall, in accordance with GAAP, have set aside on its books adequate reserves with respect thereto to the extent required by GAAPthereto.

Appears in 1 contract

Samples: Credit Agreement (Playcore Inc)

Accounts Payable. Each of the Company and its Subsidiaries ---------------- shall promptly pay when due, or in conformity with customary trade terms, all accounts payable payables incurred on or after the date hereof incident to the operations of such Person not referred to in Section 6.1.1; provided, -------- however, that any such accounts payable payables need not be paid if the validity or amount ------- thereof shall at the time be contested in good faith and if such Person shall shall, in accordance with GAAP, have set aside on its books adequate reserves with respect thereto to the extent required by GAAPthereto.

Appears in 1 contract

Samples: Bridge Loan Agreement (Advanced Radio Telecom Corp)

Accounts Payable. Each of the Company and its Subsidiaries shall promptly pay when due, or in conformity with customary trade terms, all accounts payable incident to the operations of such Person not referred to in Section 6.1.1; provided, however, that any such accounts payable need not be paid if the validity or amount thereof shall at the time be contested in good faith and if such Person shall shall, in accordance with GAAP and to the extent required thereby, if applicable, have set aside on its books adequate reserves with respect thereto to the extent required by GAAPthereto.

Appears in 1 contract

Samples: Credit Agreement (Marquee Group Inc)

Accounts Payable. Each of the Company and its Subsidiaries shall promptly pay when due, or in conformity with customary trade terms, all accounts payable incident to the operations of such Person not referred to in m Section 6.1.1; provided, however, that any such accounts payable Indebtedness need not be paid if the validity or amount thereof shall at the time be contested in good faith and if such Person shall shall, in accordance with GAAP, have set aside on its books adequate reserves with respect thereto to the extent required by GAAPthereto.

Appears in 1 contract

Samples: Credit Agreement (Racing Champions Corp)

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