Common use of Payment of Debts Clause in Contracts

Payment of Debts. You agree to pay promptly when due: (i) all payments, obligations, assessments and taxes due and payable to us and our affiliates, vendors, suppliers, lessors, federal, state or local governments, or creditors in connection with your business; (ii) all liens and encumbrances of every kind and character created or placed upon or against any of the property used in connection with the Restaurant or business; and (iii) all accounts and other indebtedness of every kind incurred by you in the conduct of the Restaurant or business. In the event you default in making any such payment, we are authorized, but not required, to pay the same on your behalf and you agree promptly to reimburse us on demand for any such payment.

Appears in 7 contracts

Samples: Franchise Agreement (Diversified Restaurant Holdings, Inc.), Franchise Agreement (Diversified Restaurant Holdings, Inc.), Franchise Agreement (Buffalo Wild Wings Inc)

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