Payment of Debts and Obligations. First, to the payment of the Company’s debts and obligations (other than loans by Members to the Company) if required by the Company’s lenders or creditors.
Payment of Debts and Obligations. Each Borrower will duly pay and discharge, and the Primary Borrower will cause each of the Subsidiaries to pay and discharge, all (i) its material obligations when due and (ii) taxes, assessments and governmental charges of which it has knowledge assessed against it or against its properties prior to the dates on which penalties are attached thereto, unless and to the extent only that such obligations, taxes, assessments or charges are not material or shall be contested in good faith and by appropriate proceedings by it.
Payment of Debts and Obligations. Each Borrower will duly pay and discharge, and the Primary Borrower will cause each of the Subsidiaries to pay and discharge, all (i) its or their material obligations when due and (ii) Taxes, assessments and governmental charges of which it has or they have knowledge assessed against it or them or against its or their properties prior to the dates on which penalties are attached thereto, unless and to the extent only that such obligations, Taxes, assessments or charges are not material or shall be contested in good faith and by appropriate proceedings by it (with adequate book reserves in accordance with GAAP).
Payment of Debts and Obligations. Borrower will cause to be paid and -------------------------------- discharged all its obligations when due and all lawful taxes, assessments and governmental charges or levies imposed upon Borrower or any Subsidiary, or upon any property, real, personal or mixed, belonging to Borrower or any Subsidiaries, or upon any part thereof, before the same shall become in default, as well as all lawful claims for labor, materials and supplies which, if unpaid, might become a lien or charge upon the property or any part of it. Notwithstanding the previous sentence, neither Borrower nor any Subsidiary shall be required to cause to be paid and discharged any obligation, tax, assessment, charge, levy or claim so long as its validity is contested in the normal course of business and in good faith by appropriate and timely proceedings and Borrower or any Subsidiary, as the case may be, sets aside on its books adequate reserves with respect to each tax, assessment, charge, levy or claim so contested, nor shall Borrower nor any Subsidiary be required to pay or discharge any trade Indebtedness which is not past its stated due date by more than thirty (30) days.
