Common use of Regulations and Taxes Clause in Contracts

Regulations and Taxes. Comply with or contest in good faith by appropriate proceedings diligently conducted all statutes and governmental regulations and pay all taxes, assessments, governmental charges, claims for labor, supplies, rent and any other obligation which, if unpaid, might become a Lien against any of its properties except liabilities being contested in good faith by appropriate proceedings diligently conducted and against which adequate reserves as required by GAAP have been established.

Regulations and Taxes. Comply in all material respects with or contest in good faith by appropriate proceedings diligently conducted all statutes and governmental regulations regulations, and pay all taxes, assessments, governmental charges, claims for labor, supplies, rent and any other obligation which, if unpaid, might would become a Lien against any of its properties except liabilities being contested in good faith by appropriate proceedings diligently conducted and against which adequate reserves as required by GAAP have been establishedestablished unless and until any Lien resulting therefrom attaches to any of its property and becomes enforceable against its creditors.