Common use of Payment of Certain Claims Clause in Contracts

Payment of Certain Claims. The Borrower shall cause each Restricted Entity to pay and discharge, before the same shall become delinquent, (a) all taxes, assessments, levies, and like charges imposed upon any such Person or upon any such Person's income, profits, or property by authorities having competent jurisdiction prior to the date on which penalties attach thereto except for tax payments being contested in good faith for which adequate reserves have been made and reported in accordance with generally accepted accounting principals and which could not reasonably be expected to cause a Material Adverse Change, (b) all lawful claims which are secured by or which, if unpaid, would by law become secured by a Lien upon any such Person's property, and (c) all trade payables and current operating liabilities, unless the same are less than 90 days past due or are being contested in good faith, have adequate reserves established and reported in accordance with general accepted accounting principals, and could not reasonably be expected to cause a Material Adverse Change.

Payment of Certain Claims. The Borrower shall and shall cause each Restricted Entity to pay and discharge, before the same shall become delinquent, (a) all taxes, assessments, levies, and like charges imposed upon any such Person or upon any such Person's income, profits, or property by authorities having competent jurisdiction prior to the date on which penalties attach thereto except for tax payments being contested in good faith for which adequate reserves have been made and reported in accordance with generally accepted accounting principals GAAP and which could not reasonably be expected to cause have a Material Adverse ChangeEffect, (b) all lawful claims which are secured by or which, if unpaid, would by law become secured by a Lien upon any such Person's property, and (c) all trade payables and current operating liabilities, unless the same are less than 90 days past due or are being contested in good faith, have adequate reserves established and reported in accordance with general accepted accounting principalsGAAP, and could not reasonably be expected to cause have a Material Adverse ChangeEffect.

Payment of Certain Claims. The Borrower shall and shall cause each Restricted Entity to pay and discharge, before the same shall become delinquent, (a) all taxes, assessments, -43- levies, and like charges imposed upon any such Person or upon any such Person's income, profits, or property by authorities having competent jurisdiction prior to the date on which penalties attach thereto except for tax payments being contested in good faith for which adequate reserves have been made and reported in accordance with generally accepted accounting principals GAAP and which could not reasonably be expected to cause have a Material Adverse ChangeEffect, (b) all lawful claims which are secured by or which, if unpaid, would by law become secured by a Lien upon any such Person's property, and (c) all trade payables and current operating liabilities, unless the same are less than 90 days past due or are being contested in good faith, have adequate reserves established and reported in accordance with general accepted accounting principalsGAAP, and could not reasonably be expected to cause have a Material Adverse ChangeEffect.