Common use of Governmental Charges and Other Indebtedness Clause in Contracts

Governmental Charges and Other Indebtedness. Lessee and its Subsidiaries shall promptly pay and discharge when due (i) all taxes and other Governmental Charges prior to the date upon which penalties accrue thereon, (ii) all indebtedness which, if unpaid, could become a Lien upon the property of Lessee or its Subsidiaries and (iii) subject to any subordination provisions applicable thereto, all other indebtedness; except where (A) the failure to pay any such taxes, other Governmental Charges or indebtedness, either alone or collectively, is not reasonably likely to have a Material Adverse Effect and (B) any such taxes, other Governmental Charges or indebtedness as may in good faith be contested or disputed, or for which arrangements for deferred payment have been made, provided that in each such case appropriate reserves as required by GAAP are maintained.

Appears in 6 contracts

Samples: Participation Agreement (Novellus Systems Inc), Participation Agreement (Novellus Systems Inc), Participation Agreement (Novellus Systems Inc)

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Governmental Charges and Other Indebtedness. Lessee Borrower and its Subsidiaries shall promptly pay and discharge when due before delinquent (i) all taxes and other Governmental Charges prior to the date upon which penalties accrue thereon, except such Governmental Charges as may in good faith be contested or disputed by appropriate proceedings, provided that in each such case appropriate reserves are maintained in accordance with GAAP, (ii) all indebtedness Indebtedness which, if unpaid, could become a Lien upon the property of Lessee Borrower or its Subsidiaries and (iii) subject to any subordination provisions applicable thereto, all other indebtedness; except where (A) the failure to pay any such taxesIndebtedness which, other Governmental Charges or indebtednessif unpaid, either alone or collectively, is not reasonably likely to could have a Material Adverse Effect and (B) any Effect, except such taxes, other Governmental Charges or indebtedness Indebtedness as may in good faith be contested or disputeddisputed by appropriate proceedings, or for which arrangements for deferred payment have been made, provided that in each such case appropriate reserves as required by GAAP are maintainedmaintained in accordance with GAAP.

Appears in 4 contracts

Samples: Credit Agreement (Bell Microproducts Inc), Credit Agreement (Bell Microproducts Inc), Credit Agreement (Bell Microproducts Inc)

Governmental Charges and Other Indebtedness. Lessee Borrower and its Subsidiaries shall promptly pay and discharge when due (i) all taxes and other Governmental Charges prior to the date upon which penalties accrue thereon, (ii) all indebtedness which, if unpaid, could become a Lien upon the property of Lessee Borrower or its Subsidiaries and (iii) subject to any subordination provisions applicable thereto, all other indebtedness; except where (A) the failure to pay any such taxes, other Governmental Charges or indebtedness, either alone or collectively, is not reasonably likely to have a Material Adverse Effect and (B) any such taxes, other Governmental Charges or indebtedness as may in good faith be contested or disputed, or for which arrangements for deferred payment have been made, provided that in each such case appropriate reserves as required by GAAP are maintained.faith

Appears in 1 contract

Samples: Credit Agreement (Novellus Systems Inc)

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Governmental Charges and Other Indebtedness. Lessee and its Subsidiaries Each Significant Party shall promptly pay and discharge when due (i) all taxes and other Governmental Charges lawfully levied or assessed against such Significant Party prior to the date upon which penalties accrue thereon, (ii) all indebtedness Indebtedness which, if unpaid, could become a Lien (other than a Permitted Lien) upon the property of Lessee or its Subsidiaries such Significant Party and (iii) subject to any subordination provisions applicable thereto, all other indebtedness; Indebtedness which, in each of the foregoing cases, if unpaid, could reasonably be expected to have a Material Adverse Effect, except where (A) the failure to pay any such taxes, other Governmental Charges or indebtedness, either alone or collectively, is not reasonably likely to have a Material Adverse Effect and (B) any such taxes, other Governmental Charges or indebtedness Indebtedness as may in good faith be contested or disputed, or for which arrangements for deferred payment have been made, ; provided that in each such case appropriate reserves as required by GAAP are maintainedmaintained in accordance with GAAP.

Appears in 1 contract

Samples: Credit Agreement (Chiquita Brands International Inc)

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