Common use of Taxes and Liens Clause in Contracts

Taxes and Liens. The Company will duly pay and discharge when payable, all taxes, assessments and governmental charges imposed upon or against the Company or its properties, or any part thereof or upon the income or profits therefrom, in each case before the same become delinquent and before penalties accrue thereon, as well as all claims for labor, materials or supplies which if unpaid might by law become a lien upon any of its property, unless and to the extent that the same are being contested in good faith and by appropriate proceedings and the Company has set aside on its books adequate reserves with respect thereto.

Appears in 6 contracts

Samples: Warrant Purchase Agreement (Bion Environmental Technologies Inc), Note and Warrant Purchase Agreement (Bion Environmental Technologies Inc), Securities Purchase Agreement (Procept Inc)

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Taxes and Liens. The Company will duly pay and discharge discharge, when payable, all taxes, assessments and governmental charges imposed upon or against the Company or its properties, or any part thereof or upon the income or profits therefrom, in each case before the same become delinquent and before penalties accrue thereon, as well as all claims for labor, materials or supplies which if unpaid might by law become a lien upon any of its property, unless and to the extent that the same are being contested in good faith and by appropriate proceedings and the Company has set aside on its books adequate reserves with respect thereto.

Appears in 3 contracts

Samples: Stock Purchase Agreement (Apollon Inc), Stock Purchase Agreement (Apollon Inc), Stock Purchase Agreement (Apollon Inc)

Taxes and Liens. The Company will duly pay and promptly discharge when payabledue, all lawful claims, including taxes, assessments and assessments, governmental charges imposed upon or against the Company or its properties, or any part thereof or upon the income or profits therefrom, in each case before the same become delinquent and before penalties accrue thereon, as well as all claims for labor, materials and supplies incurred in the ordinary course of business, except in those instances where the validity or supplies which if unpaid might by law become a lien upon any of its property, unless and to the extent that the same are amount thereof is being contested in good faith and by appropriate proceedings legal or administrative proceedings, and the Company an adequate reserve therefor has set aside been established on its books adequate reserves with respect theretobooks.

Appears in 1 contract

Samples: Investment Agreement (Southeast Interactive Technology Fund I LLC)

Taxes and Liens. The Company will duly pay and discharge --------------- when payable, all taxes, assessments and governmental charges imposed upon or against the Company or its properties, or any part thereof or upon the income or profits therefrom, in each case before the same become delinquent and before penalties accrue thereon, as well as all claims for labor, materials or supplies which if unpaid might by law become a lien upon any of its property, unless and to the extent that the same are being contested in good faith and by appropriate proceedings and the Company has set aside on its books adequate reserves with respect thereto.

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (Ansan Pharmaceuticals Inc)

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Taxes and Liens. The Company will shall duly pay and discharge when payable, all taxes, assessments and governmental charges imposed upon or against the Company or its properties, or any part thereof or upon the income or profits therefrom, in each case before the same become delinquent and before penalties accrue thereon, as well as all claims for labor, materials or supplies which if unpaid might by law become a lien upon any of its property, unless and to the extent that the same are being contested in good faith and by appropriate proceedings and the Company has set aside on its books adequate reserves with respect thereto.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Immunomedics Inc)

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