Common use of Taxes and Other Liens Clause in Contracts

Taxes and Other Liens. Each Borrower shall and shall cause each Subsidiary to pay and discharge promptly all lawful taxes, assessments and governmental charges or levies imposed upon each Borrower or any Subsidiary or upon the income or any assets or property of either Borrower or any Subsidiary as well as all claims of any kind (including claims for labor, materials, supplies and rent) which, if unpaid, might become a Lien or other encumbrance upon any or all of the assets or property of either Borrower or any Subsidiary and which could reasonably be expected to result in a Material Adverse Effect; provided, however, that the Borrowers and their Subsidiaries shall not be required to pay any such tax, assessment, charge, levy or claim if the amount, applicability or validity thereof shall currently be contested in good faith by appropriate proceedings diligently conducted, levy and execution thereon have been stayed and continue to be stayed and if such Borrower or Subsidiary shall have set up adequate reserves therefor, if required, under GAAP.

Taxes and Other Liens. Each The Borrower shall will pay and shall discharge, and will cause each Subsidiary to pay and discharge discharge, promptly all lawful taxes, assessments and governmental charges or levies imposed upon each the Borrower or any Subsidiary Subsidiary, or upon the income or any assets or property of either Borrower or any Subsidiary Subsidiary, as well as all claims of any kind (including claims for labor, materials, supplies and rent) which, if unpaid, might become a Lien or other encumbrance upon any or all of the assets or property of either Borrower or any Subsidiary and which could reasonably be expected to result in a Material Adverse Effect; provided, however, that the Borrowers and their Subsidiaries neither Borrower nor any Subsidiary shall not be required to pay any such tax, assessment, charge, levy or claim if the amount, applicability or validity thereof shall currently be contested in good faith by appropriate proceedings diligently conducted, levy and execution thereon have been stayed and continue to be stayed and if such Borrower or such Subsidiary shall have set up adequate reserves therefor, if required, under GAAP.

Taxes and Other Liens. Each Borrower shall and shall cause each Subsidiary to pay and discharge promptly all lawful taxes, assessments and governmental charges or levies imposed upon each Borrower or any Subsidiary or upon the income or any assets or property of either Borrower or any Subsidiary as well as all claims of any kind (including claims for labor, materials, supplies and rent) which, if unpaid, might become a Lien or other encumbrance upon any or all of the assets or property of either Borrower or any Subsidiary and which could reasonably be expected to result in a Material Adverse Effect; provided, however, that the Borrowers Borrower and their its Subsidiaries shall not be required to pay any such tax, assessment, charge, levy or claim if the amount, applicability or validity thereof shall currently be contested in good faith by appropriate proceedings diligently conducted, levy and execution thereon have been stayed and continue to be stayed and if such Borrower or Subsidiary shall have set up adequate reserves therefor, if required, under GAAP.

Taxes and Other Liens. Each Borrower shall and shall cause each Subsidiary to pay and discharge promptly all lawful taxes, assessments and governmental charges or levies imposed upon each Borrower or any Subsidiary or upon the income or any assets or property of either Borrower or any Subsidiary as well as all claims of any kind (including claims for labor, materials, supplies and rent) which, if unpaid, might become a Lien or other encumbrance upon any or all of the assets or property of either Borrower or any Subsidiary and which could reasonably be expected to result in a Material Adverse Effect; provided, however, that the Borrowers Borrower and their its Subsidiaries shall not be required to pay any such tax, assessment, charge, levy or claim if the amount, applicability or validity thereof shall currently be contested in good faith by appropriate proceedings diligently conducted, levy and execution thereon have been stayed and continue to be stayed and if such Borrower or such Subsidiary shall have set up adequate reserves therefor, if required, under GAAP.