Common use of Current Obligations Clause in Contracts

Current Obligations. The Company and each Subsidiary shall pay, when due, or in conformity with customary trade terms but not later than 90 days from the due date, all lease obligations, all trade debt, and all other indebtedness incident to the operations of the Company or its Subsidiaries, except such as are being contested in good faith and by proper proceedings if the Company or Subsidiary shall have set aside on its books sufficient reserves, if any, with respect thereto or where the failure to so pay would not have a material adverse effect on the business, properties, assets or condition (financial or otherwise) of the Company or its Subsidiaries. The Company and each Subsidiary will pay and discharge all lawful claims for labor, materials and supplies which, if not paid when due, might become a lien or charge upon its property or any part thereof.