Common use of Discharge of Taxes, Borrower’s Obligations, Etc Clause in Contracts

Discharge of Taxes, Borrower’s Obligations, Etc. Lender, in its reasonable discretion, shall have the right at any time, and from time to time, with prior notice to Borrower, if Borrower fails to do so five (5) Business Days after requested in writing to do so by Lender, to: (a) pay for the performance of any of Borrower’s obligations hereunder and (b) discharge taxes or liens, at any time levied or placed on any of Borrower’s Property in violation of this Agreement unless Borrower is in good faith with due diligence by appropriate proceedings contesting such taxes or liens. Expenses and advances shall be deemed Advances hereunder and shall bear interest at the Default Rate until reimbursed to Lender. Such payments and advances made by Lender shall not be construed as a waiver by Lender of an Event of Default under this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Green Plains Renewable Energy, Inc.), Credit Agreement (Green Plains Renewable Energy, Inc.)

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Discharge of Taxes, Borrower’s Obligations, Etc. Lender, in its reasonable sole discretion, shall have the right at any time, and from time to time, with prior notice to BorrowerBorrowers, if Borrower fails Borrowers fail to do so five (5) Business Days after requested in writing to do so by Lender, to: (a) pay for the performance of any of Borrower’s obligations hereunder Borrowers’ Obligations hereunder, and (b) discharge taxes or liens, at any time levied or placed on any of Borrower’s Borrowers’ Property in violation of this Agreement unless Borrower is Borrowers are in good faith with due diligence by appropriate proceedings contesting such taxes or liensliens and have established appropriate reserves therefor under GAAP. Payment of such Expenses and advances shall be deemed Advances hereunder and shall bear interest at the Default Rate highest rate applied to the Revolving Loans until reimbursed to Lender. Such payments and advances made by Lender shall not be construed as a waiver by Lender of an any Event of Default under this Agreement.

Appears in 2 contracts

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

Discharge of Taxes, Borrower’s Obligations, Etc. Lender, in its reasonable sole discretion, shall have the right at any time, and from time to time, with prior notice to Borrower, if Borrower fails to do so five (5) Business Days after requested in writing to do so by Lender, to: (a) pay for the performance of any of Borrower’s obligations Obligations hereunder or under any other Loan Document, and (b) discharge taxes or liensLiens, at any time levied or placed on any of Borrower’s Property in violation of this Agreement unless Borrower is in good faith with due diligence by appropriate proceedings contesting such taxes or liensLiens and has established appropriate reserves therefor under GAAP. Expenses and advances shall be deemed Advances hereunder and shall bear interest at the Default Rate highest rate applied to the Revolving Loans until reimbursed to Lender. Such payments and advances made by Lender shall not be construed as a waiver by Lender of an Event of Default under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Assisted 4 Living, Inc.)

Discharge of Taxes, Borrower’s Obligations, Etc. LenderLENDER, in its reasonable sole discretion, shall have the right at any time, and from time to time, with prior notice to BorrowerBORROWERS, if Borrower fails BORROWERS fail to do so five (5) Business Days after requested in writing to do so by LenderLENDER, to: (a) pay for the performance of any of Borrower’s BORROWERS' obligations hereunder hereunder, and (b) discharge taxes or liens, at any time levied or placed on any of Borrower’s BORROWERS' Property in violation of this Agreement unless Borrower is BORROWERS are in good faith with due diligence by appropriate proceedings contesting such taxes or liens. Expenses and advances shall be deemed Advances hereunder and shall be deemed Advances hereunder and shall bear interest at the Default Rate same rate applied to the Loans until reimbursed to LenderLENDER. Such payments and advances made by Lender LENDER shall not be construed as a waiver by Lender LENDER of an Event of Default under this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Vistacare Inc)

Discharge of Taxes, Borrower’s Obligations, Etc. Lender, in its reasonable sole discretion, shall have the right at any time, and from time to time, with prior notice to BorrowerBorrowers, if Borrower fails Borrowers fail to do do. so five (5) Business Days after requested in writing to do so by Lender, to: (a) pay for the performance of any of Borrower’s Borrowers’ obligations hereunder hereunder, and (b) discharge taxes or liens, at any time levied or placed on any of Borrower’s Borrowers’ Property in violation of this Agreement unless Borrower is Borrowers are in good faith with due diligence by appropriate proceedings contesting such taxes or liens. Expenses and advances shall be deemed Advances hereunder and shall be deemed Advances hereunder and shall bear interest at the Default Rate highest rate applied to the Loans until reimbursed to Lender. Such payments and advances made by Lender shall not be construed as a waiver by Lender of an Event of Default under this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Healthessentials Solutions Inc)

Discharge of Taxes, Borrower’s Obligations, Etc. LenderLENDER, in its reasonable sole discretion, shall have the right at any time, and from time to time, with prior notice to BorrowerBORROWERS, if Borrower fails BORROWERS fail to do so five (5) Business Days after requested in writing to do so by LenderLENDER, to: (a) pay for the performance of any of Borrower’s BORROWERS' obligations hereunder hereunder, and (b) discharge taxes or liens, at any time levied or placed on any of Borrower’s BORROWERS' Property in violation of this Agreement unless Borrower is BORROWERS are in good faith with due diligence by appropriate proceedings contesting such taxes or liens. Expenses and advances shall be deemed Advances hereunder and shall be deemed Advances hereunder and shall bear interest at the Default Rate same rate applied to the Revolving Loans until reimbursed to LenderLENDER. Such payments and advances made by Lender LENDER shall not be construed as a waiver by Lender LENDER of an Event of Default under this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Vistacare, Inc.)

Discharge of Taxes, Borrower’s Obligations, Etc. Lender, in its reasonable sole discretion, shall have the right at any time, and from time to time, with prior notice to BorrowerBorrowers, if Borrower fails Borrowers fail to do so five (5) Business Days after requested in writing to do so by Lender, to: (a) pay for the performance of any of Borrower’s obligations hereunder Borrowers’ Obligations hereunder, and (b) discharge taxes or liens, at any time levied or placed on any of Borrower’s Borrowers’ Property in violation of this Agreement unless Borrower is Borrowers are in good faith with due diligence by appropriate proceedings contesting such taxes or liensliens and have established appropriate reserves therefor under GAAP. Expenses and advances shall be deemed Advances hereunder and shall bear interest at the Default Rate highest rate applied to the Loans until reimbursed to Lender. Such payments and advances made by Lender shall not be construed as a waiver by Lender of an any Event of Default under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Adcare Health Systems, Inc)

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Discharge of Taxes, Borrower’s Obligations, Etc. Lender, in its reasonable sole discretion, shall have the right at any time, and from time to time, with prior notice to BorrowerBorrowers, if Borrower fails Borrowers fail to do so five (5) Business Days after requested in writing to do so by Lender, to: (a) pay for the performance of any of Borrower’s Borrowers’ obligations hereunder hereunder, and (b) discharge taxes or liens, at any time levied or placed on any of Borrower’s Borrowers’ Property in violation of this Agreement unless Borrower is Borrowers are in good faith with due diligence by appropriate proceedings contesting such taxes or liensliens and have established appropriate reserves therefore under GAAP. Expenses and advances shall be deemed Advances hereunder and shall be deemed Advances hereunder and shall bear interest at the Default Rate highest rate applied to the Loans until reimbursed to Lender. Such payments and advances made by Lender shall not be construed as a waiver by Lender of an Event of Default under this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (New York Health Care Inc)

Discharge of Taxes, Borrower’s Obligations, Etc. Lender, in its reasonable discretion, shall have the right at any time, and from time to time, with prior notice to BorrowerBorrowers, if Borrower fails Borrowers fail to do so five (5) Business Days after requested in writing to do so by Lender, to: (a) pay for the performance of any of Borrower’s obligations hereunder Borrowers’ Obligations hereunder, and (b) discharge taxes or liens, at any time levied or placed on any of Borrower’s Borrowers’ Property in violation of this Agreement unless Borrower is Borrowers are in good faith with due diligence by appropriate proceedings contesting such taxes or liensliens and have established appropriate reserves therefor under GAAP. Expenses and advances shall be deemed Advances Revolving Loans hereunder and shall be deemed Revolving Loans hereunder and shall bear interest at the Default Rate highest rate applied to the Loans until reimbursed to Lender. Such payments and advances made by Lender shall not be construed as a waiver by Lender of an Event of Default under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Prospect Medical Holdings Inc)

Discharge of Taxes, Borrower’s Obligations, Etc. LenderAgent, in its reasonable sole discretion, shall have the right at any time, and from time to time, with prior notice to Borrower, Borrowers if Borrower fails Borrowers fail to do so five (5) Business Days after requested in writing to do so by LenderAgent, to: (a) pay for the performance of any of Borrower’s Borrowers' obligations hereunder hereunder, and (b) discharge taxes Taxes or liensLiens, at any time levied or placed on any of any Borrower’s 's Property in violation of this Agreement unless such Borrower is in good faith with due diligence by appropriate proceedings contesting such taxes or liensLiens and maintaining proper reserves therefor in accordance with GAAP. Expenses and advances shall be deemed Advances hereunder and shall added to the Revolving Credit, bear interest at the Default same rate applied to Base Rate Loans, until reimbursed to LenderAgent. Such payments and advances made by Lender Agent shall not be construed as a waiver by Lender Agent or Lenders of an Event of Default under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Phoenix Md Realty LLC)

Discharge of Taxes, Borrower’s Obligations, Etc. Lender, in its reasonable discretion, shall have the right at any time, and from time to time, with prior notice to BorrowerBorrowers, if Borrower fails Borrowers fail to do so five (5) Business Days after requested in writing to do so by Lender, to: (a) pay for the performance of any of Borrower’s Borrowers’ obligations hereunder and (b) discharge taxes or liens, at any time levied or placed on any of Borrower’s Borrowers’ Property in violation of this Agreement unless Borrower is Borrowers are in good faith with due diligence by appropriate proceedings contesting such taxes or liens. Expenses and advances shall be deemed Advances hereunder and shall bear interest at the Default Rate until reimbursed to Lender. Such payments and advances made by Lender shall not be construed as a waiver by Lender of an Event of Default under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Green Plains Renewable Energy, Inc.)

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