Common use of Taxes and Assessments; Tax Indemnity Clause in Contracts

Taxes and Assessments; Tax Indemnity. The Debtors shall (a) file all tax returns and appropriate schedules thereto that are required to be filed under applicable law, prior to the date of delinquency; (b) pay and discharge all taxes, assessments and governmental charges or levies imposed upon the Debtors, upon their income and profits or upon any properties belonging to them, prior to the date on which penalties attach thereto, and (c) pay all taxes, assessments and governmental charges or levies that, if unpaid, might become a lien or charge upon any of its properties; provided, however, that the Debtors in good faith may contest any such tax, assessment, governmental charge or levy described in the foregoing clauses (b) and (c) so long as appropriate reserves are maintained with respect thereto.

Taxes and Assessments; Tax Indemnity. The Debtors shall (a) file all tax returns and appropriate schedules thereto that are required to be filed under applicable law, prior to the date of delinquency; , (b) pay and discharge all taxes, assessments and governmental charges or levies imposed upon the Debtors, upon their its income and profits or upon any properties belonging to themit, prior to the date on which penalties attach thereto, and (c) pay all taxes, assessments and governmental charges or levies that, if unpaid, might become a lien or charge upon any of its properties; provided, however, that the Debtors in good faith may contest any such tax, assessment, governmental charge or levy described in the foregoing clauses (b) and (c) so long as appropriate reserves are maintained with respect thereto.