Common use of Payment of Taxes and Claims, Etc Clause in Contracts

Payment of Taxes and Claims, Etc. The Company will pay, and cause each of its Subsidiaries to pay, (i) all material taxes, assessments and governmental charges imposed upon it or upon its Property, and (ii) all material claims (including, but not limited to, claims for labor, materials, supplies or services) which could reasonably be expected, if unpaid, to become a Lien upon its Property, unless, in each case, the validity or amount thereof is being contested in good faith by appropriate action or proceedings and the Company has established adequate reserves in accordance with GAAP with respect thereto.

Appears in 2 contracts

Samples: Credit Agreement (Sterling Chemical Inc), Credit Agreement (Sterling Chemical Inc)

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Payment of Taxes and Claims, Etc. The Company will pay, and -------------------------------- cause each of its Restricted Subsidiaries to pay, (i) all material taxes, assessments and governmental charges imposed upon it or upon its Property, and (ii) all material claims (including, but not limited to, claims for labor, materials, supplies or services) which could reasonably be expectedwould, if unpaid, to become a Lien upon its Property, unless, in each case, the validity or amount thereof is being contested in good faith by appropriate action or proceedings and the Company has established adequate reserves in accordance with GAAP with respect thereto.

Appears in 1 contract

Samples: Credit Agreement (Titan Exploration Inc)

Payment of Taxes and Claims, Etc. The Company will pay, and cause each of its Subsidiaries to pay, (i1) all material taxes, assessments and governmental charges imposed upon it or upon its Property, and (ii2) all material claims (including, but not limited to, claims for labor, materials, supplies or services) which could reasonably be expected, if unpaid, to become a Lien upon its Property, unless, in each case, the validity or amount thereof is being contested in good faith by appropriate action or proceedings and the Company has established adequate reserves in accordance with GAAP with respect thereto.

Appears in 1 contract

Samples: Credit Agreement (Purina Mills Inc)

Payment of Taxes and Claims, Etc. The Company will pay, and cause each of its Subsidiaries to pay, (i) all material taxes, assessments and governmental charges imposed upon it or upon its Property, and (ii) all material claims (including, but not limited to, claims for labor, materials, supplies or services) which could reasonably be expectedmight, if unpaid, to become a Lien upon its Property, unless, in each case, the validity or amount thereof is being contested in good faith by appropriate action or proceedings and the Company has established adequate reserves in accordance with GAAP with respect thereto.or

Appears in 1 contract

Samples: Credit Agreement (Titan Exploration Inc)

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Payment of Taxes and Claims, Etc. The Company will pay, and cause each of its Subsidiaries to pay, pay (i) all material taxes, assessments and governmental charges imposed upon it or upon its Property, and (ii) all material claims (including, but not limited to, claims for labor, materials, supplies or services) which could reasonably be expectedmight, if unpaid, to become a Lien upon its Property, unless, in each case, the validity or amount thereof is being contested in good faith by appropriate action or proceedings and the Company has established adequate reserves in accordance with GAAP with respect thereto.

Appears in 1 contract

Samples: Credit Agreement (Puretec Corp)

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