Common use of Tax Liabilities Clause in Contracts

Tax Liabilities. (a) The Credit Parties shall at all times pay and discharge all property, income and other taxes, assessments and governmental charges upon, and all claims (including claims for labor, materials and supplies) against the Credit Parties or any of its properties, Equipment or Inventory, before the same shall become delinquent and before penalties accrue thereon, unless and to the extent that the same are being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP are being maintained. (b) Borrower shall be solely responsible for the payment of any and all documentary stamps and other taxes in connection with the execution of the Loan Documents.

Appears in 16 contracts

Sources: Senior Secured Credit Facility Agreement (Pacific Ventures Group, Inc.), Senior Secured Credit Facility Agreement (Sack Lunch Productions Inc.), Senior Secured Credit Facility Agreement (Sack Lunch Productions Inc.)

Tax Liabilities. (a) The Credit Parties shall at all times pay and discharge all property, income and other taxes, assessments and governmental charges upon, and all claims (including claims for labor, materials and supplies) against the Credit Parties or any of its their properties, Equipment or Inventory, before the same shall become delinquent and before penalties accrue thereon, unless and to the extent that the same are being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP are being maintained. (b) Borrower The Credit Parties shall be solely responsible for the payment of any and all documentary stamps and other taxes in connection with the execution of the Loan Documents.

Appears in 8 contracts

Sources: Senior Secured Credit Facility Agreement, Senior Secured Revolving Credit Facility Agreement (Cd International Enterprises, Inc.), Senior Secured Revolving Credit Facility Agreement (Encore Brands, Inc.)

Tax Liabilities. (a) The Credit Parties shall at all times pay and discharge all property, income and other taxes, assessments and governmental charges upon, and all claims (including claims for labor, materials and supplies) against the Credit Parties or any of its their properties, Equipment or Inventory, before the same shall become delinquent and before penalties accrue thereon, unless and to the extent that the same are being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP are being maintained. (b) Borrower The Borrowers shall be solely responsible for the payment of any and all documentary stamps and other taxes in connection with the execution of the Loan Documents.

Appears in 1 contract

Sources: Senior Secured Revolving Credit Facility Agreement (Intelligent Highway Solutions, Inc.)

Tax Liabilities. (a) The Credit Parties Borrower shall at all times pay and discharge all property, income and other taxes, assessments and governmental charges upon, and all claims (including claims for labor, materials and supplies) against the Credit Parties Borrower or any of its properties, Equipment equipment or Inventoryinventory, before the same shall become delinquent and before penalties accrue thereon, unless and to the extent that the same are being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP are being maintained. (b) Borrower shall be solely responsible for the payment of any and all documentary stamps and other taxes in connection with the execution of the Loan Documents.

Appears in 1 contract

Sources: Revolving Credit Facility Agreement (Credex Corp)

Tax Liabilities. (a) The Credit Parties shall at ▇▇▇▇▇▇▇ all times pay and discharge all property, income and other taxes, assessments and governmental charges upon, and all claims (including claims for labor, materials and supplies) against the againstthe Credit Parties or any of its their properties, Equipment or Inventory, before the same shall become delinquent and before penalties accrue thereon, unless and to the extent that the same are being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP are being maintained. (b) Borrower The Credit Parties shall be solely responsible for the payment of any and all documentary stamps and other taxes in connection with the execution of the Loan Documents.

Appears in 1 contract

Sources: Senior Secured Revolving Credit Facility Agreement (Revolutionary Concepts Inc)

Tax Liabilities. (a) The Credit Parties shall at all times pay and discharge all property, income and other taxes, assessments and governmental charges upon, and all claims (including claims for labor, materials and supplies) against the Credit Parties or any of its their properties, Equipment or Inventory, before the same shall become delinquent and before penalties accrue thereon, unless and to the extent that the same are being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP are being maintained. (b) Borrower shall be solely responsible for the payment of any and all documentary stamps and other taxes in connection with the execution of the Loan Documents.

Appears in 1 contract

Sources: Senior Secured Revolving Credit Facility Agreement (SRAX, Inc.)