Payment of Debts, Taxes, Etc. The Company shall pay, or cause to be paid, all of its indebtedness and other liabilities and perform, or cause to be performed, all of its obligations in accordance with the respective terms thereof, and pay and discharge, or cause to be paid or discharged, all taxes, assessments and other governmental charges and levies imposed upon it, upon any of its assets and properties on or before the last day on which the same may be paid without penalty, as well as pay all other lawful claims (whether for services, labor, materials, supplies or otherwise) as and when due
Payment of Debts, Taxes, Etc. Pledgor shall pay, or cause to be paid, all of its indebtedness and other liabilities and perform, or cause to be performed, all of its obligations in accordance with the respective terms thereof, and pay and discharge, or cause to be paid or discharged, all taxes, assessments and other governmental charges and levies imposed upon it, upon any of its assets and properties on or before the last day on which the same may be paid without penalty, as well as pay all other lawful claims (whether for services, labor, materials, supplies or otherwise) as and when due; provided, however, that it shall not constitute a breach of this paragraph if Pledgor fails to perform any such obligation or to pay any such indebtedness or other liability (except for the Obligations), tax, assessment, or governmental or other charge, levy or claim (i) if the effect of such failure to pay or perform will not (A) accelerate the maturity thereof, or of any other debt or obligation of Pledgor, or (B) subject any part of the assets and properties of Pledgor to sale or forfeiture.
Payment of Debts, Taxes, Etc. The Company shall pay, or cause to be paid, all of its indebtedness and other liabilities and perform, or cause to be performed, all of its obligations in accordance with the respective terms thereof, and pay and discharge, or cause to be paid or discharged, all taxes, assessments and other governmental charges and levies imposed upon it, upon any of its assets and properties on or before the last day on which the same may be paid without penalty, as well as pay all other lawful claims (whether for services, labor, materials, supplies or otherwise) as and when due except for such taxes, claims or other charges being contested in good faith or where such failure to pay, perform or discharge would not result in a Material Adverse Effect.
Payment of Debts, Taxes, Etc. Pay all debts and perform all obligations promptly and in accordance with the terms thereof and pay and discharge or cause to be paid and discharged promptly all taxes, assessments and governmental charges or levies imposed upon BORROWER or upon its income or receipts or upon any of its properties and assets before the same shall be in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might become a lien or charge upon such properties and assets or any part thereof; provided, however, that BORROWER shall not be required to perform such obligations or pay such debts (except for obligations for money borrowed), taxes, assessments, or governmental charges or levies or claims for labor, materials, and supplies which are being contested in good faith and by proper proceedings diligently pursued.
Payment of Debts, Taxes, Etc. Pledgor shall pay, or cause to be paid, all of its indebtedness and other liabilities and perform, or cause to be performed, all of its obligations in accordance with the respective terms thereof, and pay and discharge, or cause to be paid or discharged, all taxes, assessments and other governmental charges and levies imposed upon it, upon its income or receipts or upon any of its assets and properties on or before the last day on which the same may be paid without penalty, as well as pay all other lawful claims (whether for services, labor, materials, supplies or otherwise) as and when due; provided, however, that it shall not constitute a breach of this Section if Pledgor fails to perform any such obligation or to pay any such indebtedness or other liability (except for the Obligations), tax, assessment, or governmental or other charge, levy or claim (i) that is being contested in good faith and by proper proceedings diligently pursued and (ii) if the effect of such failure to pay or perform will not (A) accelerate the maturity thereof, or of any other debt or obligation of Pledgor, or (B) subject any part of the assets and properties of Pledgor to sale or forfeiture.
Payment of Debts, Taxes, Etc. The Corporation shall pay all indebtedness and obligations promptly and in accordance with normal terms and pay and discharge promptly all taxes, assessments and governmental charges or liens imposed upon it or upon its income or receipts or in respect of any of its property, before the same shall become in default, as well as all lawful claims which, if unpaid, might result in the creation of a lien or charge upon such properties or any part thereof; provided, however, that the Corporation shall not be required to pay and discharge or to cause to be paid and discharged any such indebtedness, obligation or tax so long as the validity or amount thereof shall be contested in good faith and the Corporation shall set aside on its books such reserves as are required by generally accepted accounting principles with respect to any such indebtedness, obligation or tax.
Payment of Debts, Taxes, Etc. Pledgor shall (i) pay or cause to be ----------------------------- paid all of the Company's debts and obligations promptly and in accordance with the terms of each obligation and (ii) pay or discharge or cause to be paid and discharged all taxes, assessments, and governmental charges or levies imposed upon the Company or upon the Company's income and profits, or upon any of the Company's property - real, personal or mixed - or upon any part thereof, before the same shall become in default, as well as all lawful claims for labor, material or supplies, or otherwise which, if unpaid, might become a lien or charge upon such properties, or any part thereof; provided, however, Pledgor shall not be required, under this subsection, to pay and discharge or cause to be paid or discharged any such tax, assessment, charge, levy or claim so long as (i) such tax, assessment, charge, levy or claim arose from events occurring prior to the Closing Date (as such term is defined in the Stock Purchase Agreement) or (ii) the validity thereof shall be contested in good faith by appropriate proceedings and the Company shall have set aside on its books adequate reserves with respect to any such tax, assessment, charge, levy or claim so contested.
Payment of Debts, Taxes, Etc. Each Loan Party shall (a) pay, or cause to be paid, all of its Indebtedness and other liabilities and lawful claims (whether for services, labor, materials, supplies or otherwise) as and when due, (b) perform, or cause to be performed, all of its obligations promptly and in accordance with the respective terms and provisions thereof, and (c) promptly pay and discharge, or cause to be paid and discharged, all taxes, assessments and other governmental charges and levies imposed upon any of the Loan Parties, upon their respective income or receipts or upon any of their respective assets and properties on or before the last day on which the same may be paid without penalty; provided, however, that it shall not constitute a breach of this Section if any Loan Party fails to perform any such obligation or to pay any such Indebtedness or other liability (except for the Obligations), tax, assessment, or governmental or other charge, levy or claim (i) that (A) is being delayed, in the case of trade payables (but not other obligations), in accordance with the normal payment practices of the Loan Party, but not beyond any demand in payment therefor, or (B) is being contested in good faith and by proper proceedings diligently pursued, (ii) if the effect of such failure to pay or perform will not (A) cause or permit the acceleration of the maturity of any other Indebtedness or obligation of any Loan Party (i.e., other than the one being contested) or (B) subject any part of the assets and properties of any Loan Party to attachment, levy or forfeiture, (iii) for which the Loan Party has SPAR ESOP Revolving Credit Agreement obtained a bond or insurance, or established a reserve, in such amount as may be required by GAAP and that in the judgment of the Lender is adequate and satisfactory, and (iv) so long as the aggregate amount of such unpaid overdue items for all of the Loan Parties does not at any time exceed $10,000.
Payment of Debts, Taxes, Etc. The Company shall pay, or cause to be paid, all of its indebtedness and other liabilities and perform, or cause to be performed, all of its obligations in accordance with the respective terms thereof, and pay and discharge, or cause to be paid or discharged, all taxes, assessments and other governmental charges and levies imposed upon it, upon any of its assets and properties on or before the last day on which the same may be paid without penalty, as well as pay all other lawful claims (whether for services, labor, materials, supplies or otherwise) consistent with past practice.
Payment of Debts, Taxes, Etc. The Pledgor shall pay, or cause to be paid, all of its indebtedness and other liabilities and perform, or cause to be performed, all of its obligations in accordance with the respective terms thereof, and pay and discharge, or cause to be paid or discharged, all taxes, assessments and other governmental charges and levies imposed upon it (other than those being contested by the Pledgor in good faith), upon any of its assets and properties on or before the last day on which the same may be paid without penalty, as well as pay all other lawful claims (whether for services, labor, materials, supplies or otherwise) as and when due.
