Common use of Compliance with Laws; Payment of Taxes Clause in Contracts

Compliance with Laws; Payment of Taxes. The Borrower will, -------------------------------------- and will cause each of its Subsidiaries and each member of the Controlled Group to, comply in all material respects with applicable laws (including but not limited to ERISA), regulations and similar requirements of governmental authorities (including but not limited to PBGC), except where the necessity of such compliance is being contested in good faith through appropriate proceedings. The Borrower will, and will cause each of its Subsidiaries to, pay, prior to the accrual of any penalty in respect thereof, all taxes, assessments, governmental charges, claims for labor, supplies, rent and other obligations which, if unpaid, might become a Lien against the property of the Borrower or any Subsidiary, except liabilities being contested in good faith and against which, if reasonably requested by the Administrative Agent, the Borrower will set up reserves in accordance with GAAP.

Appears in 3 contracts

Samples: Credit Agreement (National Data Corp), Credit Agreement (Global Payments Inc), Credit Agreement (National Data Corp)

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Compliance with Laws; Payment of Taxes. The (a) Each Borrower agrees that it will, -------------------------------------- and the Parent will cause each of its other Subsidiaries and each member of the Controlled Group to, comply in all material respects with applicable laws (including but not limited to ERISA), regulations and similar requirements of governmental authorities (including but not limited to PBGC), except where the necessity of such compliance is being contested in good faith through appropriate proceedingsproceedings diligently pursued. The Each Borrower will, and the Parent will cause each of its other Subsidiaries to, pay, prior to the accrual of any penalty in respect thereof, pay promptly when due all material taxes, assessments, governmental charges, claims for labor, supplies, rent and other obligations which, if unpaid, might become a Lien lien against the property of the any Borrower or any Subsidiary, except liabilities being contested in good faith and against whichwhich such Borrower will, if reasonably requested by or the Administrative AgentParent will cause such other Subsidiary to, the Borrower will set up reserves in accordance with GAAP.

Appears in 2 contracts

Samples: Credit Agreement (National Service Industries Inc), Credit Agreement (National Service Industries Inc)

Compliance with Laws; Payment of Taxes. The Borrower will, -------------------------------------- and will cause each of its Subsidiaries and each member of the Controlled Group to, comply in all material respects with applicable laws (including but not limited to ERISA), regulations and similar requirements of governmental authorities (including but not limited to PBGC), except where the necessity of such compliance is being contested in good faith through appropriate proceedingsproceedings and except where the failure to so comply would not have and is not reasonably expected to cause a Material Adverse Effect. The Borrower will, and will cause each of its Subsidiaries to, pay, prior to the accrual of any penalty in respect thereof, pay promptly when due all taxes, assessments, governmental charges, claims for labor, supplies, rent and other obligations which, if unpaid, might become a Lien lien against the property of the Borrower or any Subsidiary, except liabilities being contested in good faith and against which, if reasonably requested by the Administrative Agent, the Borrower will set up reserves in accordance with GAAP.

Appears in 2 contracts

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

Compliance with Laws; Payment of Taxes. The Borrower -------------------------------------- and the Guarantors will, -------------------------------------- and will cause each of its Subsidiaries and each member of the Controlled Group to, comply in all material respects with applicable laws (including but not limited to ERISA), regulations and similar requirements of governmental authorities (including but not limited to PBGC), except where the necessity of such compliance is being contested in good faith through appropriate proceedingsproceedings diligently pursued, and except where the failure to comply would not have or be reasonably expected to cause a Material Adverse Effect. The Borrower will, and the Guarantors will cause each of its Subsidiaries to, pay, prior to the accrual of any penalty in respect thereof, pay promptly when due all taxes, assessments, governmental charges, claims for labor, supplies, rent and other obligations which, if unpaid, might become a Lien lien against the property Property of the Borrower or any SubsidiaryGuarantor, except liabilities being contested in good faith and against which, if reasonably requested by the Administrative Agent, which the Borrower will set up is maintaining accruals and reserves which the Borrower believes are reasonable in accordance with GAAP.

Appears in 1 contract

Samples: Credit Agreement (JDN Realty Corp)

Compliance with Laws; Payment of Taxes. (a) The Borrower will, -------------------------------------- and will cause each of its Subsidiaries and each member of the Controlled Group to, comply in all material respects with applicable laws (including but not limited to ERISA), regulations and similar requirements of governmental authorities (including but not limited to PBGC), except (i) where the necessity of such compliance is being contested in good faith through appropriate proceedingsproceedings diligently pursued or (ii) the failure to do so would not have a Material Adverse Effect. The Borrower will, and will cause each of its Subsidiaries to, pay, prior to the accrual of any penalty in respect thereof, pay promptly when due all taxes, assessments, governmental charges, claims for labor, supplies, rent and other obligations which, if unpaid, might would become a Lien lien against the property of the Borrower or any Subsidiary, except liabilities being contested in good faith and against which, if reasonably requested by the Administrative Agent, the Borrower will set up reserves in accordance with GAAP.

Appears in 1 contract

Samples: Credit Agreement (Guilford Mills Inc)

Compliance with Laws; Payment of Taxes. The Borrower will, -------------------------------------- and will cause each Subsidiary of its Subsidiaries the Borrower and each member of the Controlled Group to, comply in with all material respects with applicable laws Applicable Laws (including but not limited to ERISAthose with respect to the Loans and any Related Property), regulations and similar requirements of governmental authorities (including but not limited to PBGC), except where the necessity of such compliance is being contested in good faith through appropriate proceedingsproceedings diligently pursued. The Borrower will, and will cause each Subsidiary of its Subsidiaries the Borrower to, pay, prior to the accrual of any penalty in respect thereof, pay promptly when due all taxes, assessments, governmental charges, claims for labor, supplies, rent and other obligations which, if unpaid, might become a Lien lien against the property of the Borrower or any SubsidiarySubsidiary of the Borrower, except liabilities being contested in good faith by appropriate proceedings diligently pursued and against which, if reasonably requested by the Administrative Agent, which the Borrower will shall have set up reserves in accordance with GAAP.

Appears in 1 contract

Samples: Credit Agreement (American Capital Strategies LTD)

Compliance with Laws; Payment of Taxes. The Borrower will, -------------------------------------- and will cause each Subsidiary of its Subsidiaries the Borrower and each member of the Controlled Group to, comply in with all material respects with applicable laws Applicable Laws (including but not limited to ERISAthose with respect to the Pledged Loans and any Related Property), regulations and similar requirements of governmental authorities (including but not limited to PBGC), except where the necessity of such compliance is being contested in good faith through appropriate proceedingsproceedings diligently pursued. The Borrower will, and will cause each Subsidiary of its Subsidiaries the Borrower to, pay, prior to the accrual of any penalty in respect thereof, pay promptly when due all taxes, assessments, governmental charges, claims for labor, supplies, rent and other obligations which, if unpaid, might become a Lien lien against the property of the Borrower or any SubsidiarySubsidiary of the Borrower, except liabilities being contested in good faith by appropriate proceedings diligently pursued and against which, if reasonably requested by the Administrative Agent, which the Borrower will shall have set up reserves in accordance with GAAP.

Appears in 1 contract

Samples: Credit Agreement (American Capital Strategies LTD)

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Compliance with Laws; Payment of Taxes. The Borrower Borrowers will, -------------------------------------- and will cause each of its Subsidiaries and each member of the Controlled Group to, comply in all material respects with applicable laws (including but not limited to ERISA, the Code, and all other applicable Federal and State laws), regulations and similar requirements of governmental authorities Governmental Authorities (including but not limited to PBGC), except where the necessity of such compliance is being contested in good faith through appropriate proceedings. The Borrower Borrowers will, and will cause each of its Subsidiaries to, pay, prior to the accrual of any penalty in respect thereof, pay promptly when due all taxes, assessments, governmental charges, claims for labor, supplies, rent and other obligations which, if unpaid, might become a Lien against the property Property of the Borrower Borrowers or any Subsidiary, except liabilities being contested in good faith and against which, if reasonably requested by which the Administrative Agent, the Borrower will set up Borrowers shall have established reserves in accordance consistent with GAAP.

Appears in 1 contract

Samples: Credit and Reimbursement Agreement (Laralev Inc)

Compliance with Laws; Payment of Taxes. The Borrower will, -------------------------------------- and will cause each of its Subsidiaries and each member of the Controlled Group to, comply in all material respects with applicable laws (including but not limited to ERISA), regulations and similar requirements of governmental authorities (including but not limited to PBGC), except where the necessity of such compliance either is being contested in good faith through appropriate proceedingsproceedings or could not reasonably be expected to have or cause a Material Adverse Effect. The Borrower will, and will cause each of its Subsidiaries to, pay, prior to the accrual of any penalty in respect thereof, pay promptly when due all taxes, assessments, governmental charges, claims for labor, supplies, rent and other obligations which, if unpaid, might become a Lien lien against the property of the Borrower or any Subsidiary, except liabilities being contested in good faith and against which, if reasonably requested by the Administrative Agent, the Borrower will set up reserves in accordance with GAAP.

Appears in 1 contract

Samples: Credit Agreement (National Vision Associates LTD)

Compliance with Laws; Payment of Taxes. (a) The Borrower will, -------------------------------------- and will cause each of its Subsidiaries and each member of the Controlled Group to, comply in all material respects with applicable laws (including but not limited to ERISA), regulations and similar requirements of governmental authorities (including but not limited to PBGC), except (i) where the necessity of such compliance is being contested in good faith through appropriate proceedingsproceedings diligently pursued or (ii) the failure to do so would not have a Material Adverse Effect. The Borrower will, and will cause each of its Subsidiaries to, pay, prior to the accrual of any penalty in respect thereof, pay promptly when due all taxes, assessments, governmental charges, claims for labor, supplies, rent and other obligations which, if unpaid, might would become a Lien lien against the property of the Borrower or any Subsidiary, except liabilities being contested in good faith and against which, if reasonably requested by the Administrative Agent, the Borrower will set up reserves in accordance with GAAP.

Appears in 1 contract

Samples: Credit Agreement (Guilford Mills Inc)

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