Common use of Taxes, Charges and Liens Clause in Contracts

Taxes, Charges and Liens. (a) Pay and discharge when due and prior to the date on which penalties would attach, all of Borrower's indebtedness and obligations, including, without limitation, all assessments, taxes, governmental charges, levies and liens, of every kind and nature, imposed upon Borrower or its properties, income, or profits, and all lawful claims that, if unpaid, might become a lien or charge upon any of Borrower's properties, income, or profits; provided, however, Borrower will not be required to pay and discharge any such assessment, tax, charge, xxxx, xxxx or claim so long as (i) the legality of the same shall be contested in good faith by appropriate proceedings, and (ii) Borrower shall have established or caused to have been established adequate reserves with respect to such contested assessment, tax, charge, levy, lien, or claim in accordance with GAAP.

Taxes, Charges and Liens. (a) Pay and discharge when due and prior to the date on which penalties would attach, all of each Borrower's indebtedness and obligations, including, without limitation, all assessments, taxes, governmental charges, levies and liens, of every kind and nature, imposed upon such Borrower or its properties, income, or profits, and all lawful claims that, if unpaid, might become a lien or charge upon any of such Borrower's properties, income, or profits; provided, however, Borrower Borrowers will not be required to pay and discharge any such assessment, tax, charge, xxxxlevy, xxxx or xx claim so long as (i) the legality of the same shall be contested in good faith by appropriate proceedings, and (ii) Borrower Borrowers shall have established or caused to have been established adequate reserves with respect to such contested assessment, tax, charge, levy, lien, or claim in accordance with GAAP.

Taxes, Charges and Liens. (a) Pay and discharge when due and prior to the date on which penalties would attach, all of Borrower's ’s indebtedness and obligations, including, without limitation, all assessments, taxes, governmental charges, levies and liens, of every kind and nature, imposed upon Borrower or its properties, income, or profits, and all lawful claims that, if unpaid, might become a lien or charge upon any of Borrower's ’s properties, income, or profits; provided, however, Borrower will not be required to pay and discharge any such assessment, tax, charge, xxxx, xxxx or claim so long as (i) the legality of the same shall be contested in good faith by appropriate proceedings, and (ii) Borrower shall have established or caused to have been established adequate reserves with respect to such contested assessment, tax, charge, levy, lien, or claim in accordance with GAAP.

Taxes, Charges and Liens. (a) Pay and discharge when due and prior to the date on which penalties would attach, all of Borrower's its indebtedness and obligations, including, including without limitation, limitation all assessments, taxes, governmental charges, levies and liens, of every kind and nature, imposed upon Borrower or its properties, income, or profits, prior to the BUSINESS LOAN AGREEMENT (ASSET BASED) date on which penalties would attach, and all lawful claims that, if unpaid, might become a lien or charge upon any of Borrower's ’s properties, income, or profits; provided, . Provided however, Borrower will not be required to pay and discharge any such assessment, tax, charge, xxxx, xxxx or claim so long as (i1) the legality of the same shall be contested in good faith by appropriate proceedings, and (ii2) Borrower shall have established or caused to have been established on Borrower’s books adequate reserves with respect to such contested assessment, tax, charge, levy, lien, or claim in accordance with GAAP.