Common use of Payment of Other Indebtedness Clause in Contracts

Payment of Other Indebtedness. Pay when due (or within applicable grace periods) all Indebtedness due third Persons, except when the amount thereof is being contested in good faith by appropriate proceedings diligently conducted and with reserves in form and amount reasonably acceptable to the Agent therefor being set aside on the books of the Borrowers.

Payment of Other Indebtedness. Pay when due (or within applicable grace periods) all Indebtedness (for which the failure to pay would constitute an Event of Default under Section 8.1(e)) due third Persons, except when the amount thereof is being contested in good faith by appropriate proceedings diligently conducted and with reserves in form and amount reasonably acceptable to the Agent Lender therefor being set aside on the books of the BorrowersBorrower or the applicable Subsidiary.