Common use of Payment of Taxes and Trade Debt Clause in Contracts

Payment of Taxes and Trade Debt. The Company shall pay and ------------------------------- discharge, and cause each Subsidiary to pay and discharge, all material taxes, assessments and governmental charges or levies imposed on it or upon its income or profits or business, or upon any properties belonging to it, prior to the date on which penalties attach thereto, and all lawful claims which, if unpaid, might become a lien or charge upon any properties of the Company or any Subsidiary, provided that neither the Company nor the Subsidiary shall be required to pay any such tax, assessment, charge, levy or claim which is being contested in good faith and by appropriate proceedings if the Company or Subsidiary concerned shall have set aside on its books adequate reserves with respect thereto. The Company shall pay and cause each Subsidiary to pay, when due, or in conformity with customary trade terms, all material lease obligations, all material trade debt, and all other material indebtedness incident to the operations of the Company or its Subsidiaries, except such as are being contested in good with and by appropriate proceedings if the Company or Subsidiary concerned shall have set aside on its books adequate reserves with respect thereto.

Payment of Taxes and Trade Debt. The Company shall pay Pay and ------------------------------- discharge, and cause each Subsidiary to pay and discharge, all material taxes, assessments and governmental charges or levies imposed on upon it or upon its income or income, profits or business, or upon any properties belonging to it, prior to the date on which penalties attach thereto, and all lawful claims which, if unpaid, might become a lien or charge upon any properties of the Company or any Subsidiary; PROVIDED, provided HOWEVER, that neither the Company nor the any Subsidiary shall be required to pay any such tax, assessment, charge, levy or claim which is being contested in good faith and by appropriate proceedings if the Company or any Subsidiary concerned shall have set aside on its books adequate reserves sufficient reserves, if any, with respect thereto. The Company shall pay Pay and cause each Subsidiary to pay, when due, or in conformity with customary trade terms, all material lease obligations, all material trade debt, and all other material indebtedness Indebtedness incident to the operations of the Company or its Subsidiaries, except such as are being contested in good with faith and by appropriate proper proceedings if the Company or Subsidiary concerned shall have set aside on its books adequate reserves sufficient reserves, if any, with respect thereto.

Payment of Taxes and Trade Debt. The Company shall pay and ------------------------------- discharge, and cause each Subsidiary to pay and discharge, all material taxes, assessments and governmental charges or levies imposed on upon it or upon its income or profits or business, or upon any properties belonging to it, prior to the date on which penalties attach thereto, and all lawful claims claims, which, if unpaid, might become a material lien or charge upon any properties of the Company or any Subsidiary, provided that neither the Company nor the any Subsidiary shall be required to pay any such tax, assessment, charge, levy or claim which did is being contested in good faith and by appropriate proceedings if the Company or Subsidiary concerned shall have set aside on its books adequate reserves with respect theretothereto as shall he determined by its Board of Directors. The Company shall pay and cause each Subsidiary to pay, when due, or in conformity with customary trade terms, all material lease obligations, all material trade debt, debt and all other material indebtedness Indebtedness incident to the operations of the Company or its Subsidiaries, except such as are being contested in good with and by appropriate proceedings faith if the Company or Subsidiary concerned shall have set aside on its books adequate reserves with respect theretothereto as shall be determined by its Board of Directors.