Common use of Contesting Charges Clause in Contracts

Contesting Charges. Notwithstanding anything to the contrary herein, Borrower may dispute any Charges without prior payment thereof, even if such nonpayment may cause a lien to attach to any Borrower's assets, provided that Borrower shall give Lender written notice of such dispute and shall be diligent in contesting the same in good faith, with due diligence and by an appropriate proceeding and there is no danger of a loss or forfeiture of any of Borrower's assets (as reasonably determined by Lender), and provided further that, if the same are in excess of One Hundred Thousand Dollars ($100,000) in the aggregate at any time or times hereafter, Borrower shall give Lender such additional collateral and assurances as Lender, in its sole discretion, deems necessary under the circumstances.

Contesting Charges. Notwithstanding anything to the contrary herein, Borrower may dispute any Charges without prior payment thereof, even if such nonpayment non-payment may cause a lien to attach to any Borrower's assets, provided that Borrower shall give Lender written prompt notice of such dispute and shall be diligent in diligently contesting the same in good faith, with due diligence faith and by an appropriate proceeding and there is no danger of a loss or forfeiture of any of Borrowerthe Collateral or of Lender's assets (as reasonably determined by Lender), priority position with respect to such Collateral and provided further that, if the same are potentially or actually in excess of One Two Hundred Fifty Thousand Dollars ($100,000250,000) in the aggregate at any time or times hereafter, Borrower shall give Lender such additional collateral and assurances as Lender, in its sole discretion, deems necessary under the circumstances, immediately upon demand by Lender.