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

Payment of Trade Liabilities, Taxes, etc. Each Restricted Person will (a) timely file all required tax returns including any extensions; (b) timely pay all taxes, assessments, and other governmental charges or levies imposed upon it or upon its income, profits or property before the same become delinquent; (c) within 90 days past the original invoice billing date therefore, or, if earlier, when due in accordance with its terms, pay and discharge 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; (d) pay and discharge before the same becomes delinquent all other Liabilities now or hereafter owed by it, other than royalty payments suspended in the ordinary course of business; and (e) maintain appropriate accruals and reserves for all of the foregoing in accordance with IFRS. Each Restricted Person may, however, delay paying or discharging any of the foregoing so long as it is in good faith contesting the validity thereof by appropriate proceedings, if necessary, and has set aside on its books adequate reserves therefore which are required by IFRS.

Payment of Trade Liabilities, Taxes, etc. Each Restricted Person will (a) timely file all required tax returns Tax Returns including any extensions; , (b) timely pay all taxes, assessments, and other governmental charges or levies imposed upon it or upon its income, profits profits, or property before the same become delinquent; delinquent (including employment taxes), (c) within 90 no later than ninety (90) days past after the original invoice billing date thereforetherefor, or, if earlier, when due in accordance with its terms, pay and discharge all of the Liabilities owed by it on ordinary trade terms to vendors, suppliers suppliers, and other Persons providing goods and services used by it in the ordinary course of its business; to it, (d) pay and discharge before the same becomes delinquent all of the other Liabilities now or hereafter owed by it, other than royalty payments suspended in the ordinary course of business; , and (e) maintain appropriate accruals and reserves for all of the foregoing in accordance with IFRS. Each Restricted Person may, however, delay paying or discharging any of the foregoing so long as it is in good faith contesting the validity thereof by appropriate proceedings, if necessary, and has set aside on its books adequate reserves therefore which therefor that are required by IFRS.