Common use of Contesting Charges Clause in Contracts

Contesting Charges. Notwithstanding anything to the contrary herein, Borrowers may dispute any Charges without prior payment thereof, even if such non-payment may cause a lien to attach to Borrowers' assets, provided that any such Borrower shall give Lender notice of such dispute and shall be diligently contesting the same in good faith, with due diligence and in an appropriate proceeding and there is no danger of a loss or forfeiture of Collateral and provided further that, if the same are in excess of $50,000.00 in the aggregate at any time or times hereafter, such 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, Borrowers Borrower may dispute any Charges without prior payment thereof, even if such non-payment may cause a lien to attach to Borrowers' Borrower's assets, provided that any such Borrower shall give Lender prompt notice of such dispute and shall be diligently contesting the same in good faith, with due diligence faith and in by an appropriate proceeding and there is no danger of a loss or forfeiture of any of the Collateral and provided further that, if the same are potentially or actually in excess of $50,000.00 25,000 in the aggregate for Borrower at any time or times hereafter, such Borrower shall give Lender such additional Collateral collateral and assurances as Lender, in its sole discretion, deems necessary under the circumstances, immediately upon demand by Lender.