Common use of Taxes and Other Claims Clause in Contracts

Taxes and Other Claims. The Companies shall pay or discharge, and shall cause each of their Subsidiaries to pay or discharge, or cause to be paid or discharged, before the same shall become delinquent (a) all material taxes, assessments and governmental charges levied or imposed upon (i) the Companies or any such Subsidiary, (ii) the income or profits of the Companies or any such Subsidiary which is a corporation or (iii) the Property of the Companies or any such Subsidiary and (b) all material lawful claims for labor, materials and supplies that, if unpaid, might by law become a Lien upon the properties of the Companies or any such Subsidiary, provided that the Companies shall not be required to pay or discharge, or cause to be paid or discharged, any such tax, assessment, charge or claim the amount, applicability or validity of which is being contested in good faith by appropriate proceedings and for which adequate reserves, if any, in conformity with GAAP, have been established.

Appears in 2 contracts

Samples: Indenture (Sac Holding Corp), Indenture (Amerco /Nv/)

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Taxes and Other Claims. The Companies shall pay or dischargeCompany shall, and shall cause each of their its Subsidiaries to, pay prior to delinquency (i) all taxes, assessments and government levies; provided, however, that the Company shall not be required to pay or discharge, or cause to be paid or discharged, before the same shall become delinquent (a) all material taxes, assessments and governmental charges levied or imposed upon (i) the Companies or any such Subsidiarytax, assessment or levy (A) if the failure to do so will not, in the aggregate, have a material adverse impact on the Company and its Subsidiaries taken as a whole, or (B) if the amount, applicability or validity is being contested in good faith by appropriate proceedings, and (ii) the income or profits of the Companies or any such Subsidiary which is a corporation or (iii) the Property of the Companies or any such Subsidiary and (b) all material lawful claims for labor, materials and supplies thatsupplies, which, if unpaid, might by law become a Lien lien upon the properties property of the Companies or any such SubsidiaryCompany; provided, provided however, that the Companies Company shall not be required to pay or discharge, discharge or cause to be paid or discharged, discharged any such tax, assessment, charge or claim the whose amount, applicability or validity of which is being contested in good faith by appropriate proceedings and for which adequate reserves, if any, in conformity with GAAP, have provision has been establishedmade.

Appears in 1 contract

Samples: Indenture (Gencorp Inc)

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Taxes and Other Claims. The Companies shall pay or dischargeCompany shall, and shall cause each of their its Restricted Subsidiaries to, pay prior to delinquency (i) all taxes, assessments and government levies; provided, however, that the Company shall not be required to pay or discharge, or cause to be paid or discharged, before the same shall become delinquent (a) all material taxes, assessments and governmental charges levied or imposed upon (i) the Companies or any such Subsidiarytax, assessment or levy (A) if the failure to do so will not, in the aggregate, have a material adverse impact on the Company and its Restricted Subsidiaries taken as a whole, or (B) if the amount, applicability or validity is being contested in good faith by appropriate proceedings, and (ii) the income or profits of the Companies or any such Subsidiary which is a corporation or (iii) the Property of the Companies or any such Subsidiary and (b) all material lawful claims for labor, materials and supplies thatsupplies, which, if unpaid, might by law become a Lien lien upon the properties property of the Companies or any such SubsidiaryCompany; provided, provided however, that the Companies Company shall not be required to pay or discharge, discharge or cause to be paid or discharged, discharged any such tax, assessment, charge or claim the whose amount, applicability or validity of which is being contested in good faith by appropriate proceedings and for which adequate reserves, if any, in conformity with GAAP, have provision has been establishedmade.

Appears in 1 contract

Samples: Indenture (Gencorp Inc)

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