Common use of Payment of Trade Liabilities, Taxes, etc Clause in Contracts

Payment of Trade Liabilities, Taxes, etc. Each Credit Party will (i) timely file all required tax returns including any extensions; (ii) timely pay all taxes, assessments and other governmental charges or levies imposed upon it or upon its income, profits or property; (iii) within 120 days after the date such goods are delivered or such services are rendered, pay all Liabilities owed by it on ordinary trade terms to vendors, suppliers and other Persons providing goods and services used by it in the ordinary course of its business; (iv) pay and discharge when due all other Liabilities now or hereafter owed by it, other than royalty payments suspended in the ordinary course of business; and (v) maintain appropriate accruals and reserves for all of the foregoing in accordance with GAAP. However, each Credit Party may delay paying or discharging any of the foregoing so long as it has set aside on its books adequate reserves therefor in accordance with GAAP and (i) it is in good faith contesting the validity thereof by appropriate proceedings, if necessary or (ii) it is in good faith contesting the validity of such Liability.

Payment of Trade Liabilities, Taxes, etc. Each Credit Party will (ia) timely file all required tax returns including any extensions; (iib) timely pay all taxes, assessments assessments, and other governmental charges or levies imposed upon it or upon its income, profits or propertyproperty before the same become delinquent; (iiic) within 120 ninety (90) days after past the original invoice billing date such goods are delivered or such services are rendered, therefor same becomes due pay all Liabilities owed by it on ordinary trade terms to vendors, suppliers and other Persons providing goods and services used by it in the ordinary course of its business; (ivd) pay and discharge when due all other Liabilities now or hereafter owed by it, other than royalty payments suspended in the ordinary course of business; and (ve) maintain appropriate accruals and reserves for all of the foregoing in accordance with GAAP. However, each Each Credit Party may may, however, delay paying or discharging any of the foregoing so long as it has set aside on its books adequate reserves therefor in accordance with GAAP is diligently and (i) it is in good faith contesting the validity thereof by appropriate proceedings, if necessary or (ii) it is has set aside on its books adequate reserves therefore that are required by GAAP, and the failure to make payment pending such contest could not reasonably be expected to result in good faith contesting the validity of such Liabilitya Material Adverse Change.

Payment of Trade Liabilities, Taxes, etc. Each Credit Party will (ia) timely file all required tax returns including any extensions; (iib) timely pay all taxes, assessments assessments, and other governmental charges or levies imposed upon it or upon its income, profits or propertyproperty before the same become delinquent; (iiic) within 120 ninety (90) days after past the original invoice billing date such goods are delivered or such services are rendered, therefor same becomes due pay all Liabilities owed by it on ordinary trade terms to vendors, suppliers and other Persons providing goods and services used by it in the ordinary course of its business; (ivd) pay and discharge when due all other Liabilities now or hereafter owed by it, other than royalty payments suspended in the ordinary course of business; and (ve) maintain appropriate accruals and reserves for all of the foregoing in accordance with GAAP. However, each Each Credit Party may may, however, delay paying or discharging any of the foregoing so long as it has set aside on its books adequate reserves therefor in accordance with GAAP and (i) it is in good faith contesting the validity thereof by appropriate proceedings, if necessary or (ii) it is in good faith contesting the validity of such Liabilitynecessary, and has set aside on its books adequate reserves therefor that are required by GAAP.

Payment of Trade Liabilities, Taxes, etc. Each Credit Party will (i) timely file all required tax returns including any extensions; (ii) timely pay all taxes, assessments and other governmental charges or levies imposed upon it or upon its income, profits or property; (iii) within 120 days after the date such goods are delivered or such services are rendered, pay all Liabilities owed by it on ordinary trade terms to vendors, suppliers and other Persons providing goods and services used by it in the ordinary course of its business; (iv) pay and discharge when due all other Liabilities now or hereafter owed by it, other than royalty payments suspended in the ordinary course of business; and (v) maintain appropriate accruals and reserves for all of the foregoing in accordance with GAAP. However, each Credit Party may delay paying or discharging any of the foregoing so long as it has set aside on its books adequate reserves therefor in accordance with GAAP and (i) it is in good faith contesting the validity thereof in the Enron Bankruptcy Proceedings, if applicable, or by other appropriate proceedings, if necessary or (ii) it is in good faith contesting the validity of such Liability, and such Liability is claimed by an Affiliate of Enron that is not a debtor-in-possession in the Enron Bankruptcy Proceedings.

Payment of Trade Liabilities, Taxes, etc. Each Credit Loan Party and its respective Subsidiaries will (ia) timely file all required tax Tax returns including any extensions; (iib) timely pay all taxesTaxes, assessments assessments, and other governmental charges or levies imposed upon it or upon its income, profits or property; (iiic) within 120 ninety (90) days after past the original invoice billing date such goods are delivered or such services are rendered, pay therefor all Liabilities owed by it on ordinary trade terms to vendors, suppliers and other Persons providing goods and services used by it in the ordinary course of its business; (ivd) pay and discharge when due all other Liabilities now or hereafter owed by it, other than royalty payments suspended in the ordinary course of business; and (ve) maintain appropriate accruals and reserves for all of the foregoing in accordance with GAAP. HoweverEach Loan Party and its respective Subsidiaries may, each Credit Party may however, delay paying or discharging any of the foregoing so long as it has set aside on its books adequate reserves therefor in accordance with GAAP and (i) it is in good faith contesting the validity thereof by appropriate proceedings, if necessary or (ii) it is in good faith contesting the validity of such Liabilitynecessary, and has set aside on its books adequate reserves therefor that are required by GAAP.