Common use of Payment of Liabilities Clause in Contracts

Payment of Liabilities. Each Credit Party shall, and shall cause each Subsidiary to, pay, discharge and perform as the same shall become due and payable or required to be performed, all of their respective obligations and liabilities (but subject to any restrictions contained in this Agreement), including: (a) all income and other material Tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently prosecuted which stay the enforcement of any Lien and for which adequate reserves in accordance with IFRS or GAAP, as applicable, are being maintained by such Credit Party or such Subsidiary; (b) all lawful claims which, if unpaid, would by law become a Lien upon its Property unless the same are being contested in good faith by appropriate proceedings diligently prosecuted which stay the imposition or enforcement of the Lien and for which adequate reserves in accordance with IFRS or GAAP, as applicable, are being maintained by such Credit Party or such Subsidiary; (c) any Indebtedness, as and when due and payable, but subject to any restrictions contained in this Agreement, provisions in any applicable subordination agreement or provisions in any instrument or agreement evidencing such Indebtedness; and (d) all material obligations under any Contractual Obligation to which such Credit Party or such Subsidiary is bound, or to which it or any of its Properties is subject.

Payment of Liabilities. Each Credit Party shall, and shall cause each Subsidiary to, pay, discharge and perform as the same shall become due and payable or required to be performed, all of their respective obligations and liabilities (but subject to any restrictions contained in this Agreement), including: (a) all Federal income and other material Tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently prosecuted which stay the enforcement of any Lien and for which adequate reserves in accordance with IFRS or GAAP, as applicable, GAAP are being maintained by such Credit Party or such Subsidiary; (b) all lawful claims which, if unpaid, would by law become a Lien upon its Property unless the same are being contested in good faith by appropriate proceedings diligently prosecuted which stay the imposition or enforcement of the Lien and for which adequate reserves in accordance with IFRS or GAAP, as applicable, GAAP are being maintained by such Credit Party or such Subsidiary; (c) any Indebtedness, as and when due and payable, but subject to any restrictions contained in this Agreement, provisions in any applicable subordination agreement or provisions in any instrument or agreement evidencing such Indebtedness; and (d) all material obligations under any Contractual Obligation to which such Credit Party or such Subsidiary is bound, or to which it or any of its Properties is subject.

Payment of Liabilities. Each Credit Party shall, and Obligor shall cause each Subsidiary to, pay, discharge and perform as the same shall become due and payable or required to be performed, all of their respective obligations and liabilities (but subject to any restrictions contained in this Agreement)liabilities, including: (a) all income and other material Tax tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently prosecuted which stay the enforcement of any Lien and for which adequate reserves in accordance with IFRS or GAAP, as applicable, GAAP are being maintained by such Credit Party or such SubsidiaryObligors; (b) all lawful claims which, if unpaid, would by law become a Lien upon its Property unless the same are being contested in good faith by appropriate proceedings diligently prosecuted which stay the imposition or enforcement of the Lien and for which adequate reserves in accordance with IFRS or GAAP, as applicable, GAAP are being maintained by such Credit Party or such Subsidiaryany Obligor; (c) any all Indebtedness, as and when due and payable, but subject to any restrictions contained in this Agreement, provisions in any applicable subordination agreement Agreement or provisions in any instrument or agreement evidencing such Indebtedness; and (d) the performance of all material obligations under any Contractual Obligation to which such Credit Party or such Subsidiary any Obligor is bound, or to which it they or any of its their respective Properties is are subject, except, in the case of subclauses (a) though (d) of this Section 5.6, where the failure to so pay, discharge and perform such obligations and liabilities would not reasonably be expected to result, in the aggregate, in a Material Adverse Effect.

Payment of Liabilities. Each Credit Party Such Obligor shall, and shall cause each Subsidiary its Subsidiaries to, pay, discharge and perform as the same shall become due and payable or required to be performed, all of their its respective obligations and liabilities (but subject to any restrictions contained in this Agreement)liabilities, including: (a) all income and other material Tax tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently prosecuted which stay the enforcement of any Lien and for which adequate reserves in accordance with IFRS or GAAP, as applicable, GAAP are being maintained by such Credit Party Obligor or such Subsidiary; (b) all lawful claims which, if unpaid, would by law become a Lien (other than Permitted Liens) upon its Property unless the same are being contested in good faith by appropriate proceedings diligently prosecuted which stay the imposition or enforcement of the Lien and for which adequate reserves in accordance with IFRS or GAAP, as applicable, GAAP are being maintained by such Credit Party or such SubsidiaryObligor; (c) any Indebtednessall Debt, as and when due and payable, but subject to any restrictions contained in this Agreement, provisions in any applicable subordination agreement Agreement or provisions in any instrument or agreement evidencing such IndebtednessDebt; and (d) the performance of all material obligations under any Contractual Obligation to which such Credit Party Obligor or such Subsidiary any of its Subsidiaries is bound, or to which it or any of its Properties is subject, to the extent that the failure to perform any of the obligations described under this clause (d) could have a Material Adverse Effect.