Common use of Taxes, Charges and Liens Clause in Contracts

Taxes, Charges and Liens. (i) Pay and discharge when due all of its indebtedness and obligations, including without limitation, all assessments, taxes, governmental charges, levies and liens, of every kind and nature, imposed upon any portion of the transactions contemplated hereby, or on Borrower, the Collateral or Borrower’s other properties, income, or profits, prior to the date on which penalties would attach, 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, lxxx, xxxx or claim (collectively the “Charges”) so long as: (A) the legality of the same shall be promptly contested in good faith by appropriate proceedings; (B) Borrower shall have deposited with Lender cash, a sufficient corporate surety bond or other security satisfactory in form and substance to Lender in an amount adequate to provide for the release of such Charge plus any interest, costs, attorneys' fees or other amounts that could accrue as a result of foreclosure or sale of the Collateral; (C) such contest operates to suspend collection of the Charge; and (D) none of the Collateral is subject to forfeiture or loss of any Security Interest (or the priority thereof) by reason of the institution or prosecution of such contest as determined by Lender. Borrower, upon demand of Lender, will furnish to Lender evidence of payment of the indebtedness and obligations, including any assessments, taxes, charges, levies, liens and claims and will authorize the appropriate obligor or governmental official to deliver to Lender at any time a written statement of any indebtedness and obligations including any Charges.

Taxes, Charges and Liens. (i) Pay Subject to binding orders issued by the Bankruptcy Court in the Bankruptcy Case, and discharge except to the extent enforcement or collection thereof is stayed by the operation of the Bankruptcy Code, Borrower and its Subsidiaries shall pay when due all of any assessment, tax, charge, xxxx, xxxx or claim imposed upon it or its indebtedness assets, business, income or profits before any penalty or interest accrues thereon, and obligations, including without limitation, all assessments, taxes, governmental charges, levies levies, liens or claims (including, without limitation, claims for labor, services, materials and liens, of every kind and nature, imposed upon any portion of the transactions contemplated hereby, or on Borrower, the Collateral or Borrower’s other properties, income, or profits, prior to the date on supplies) for sums which penalties would attach, and all lawful claims that, if unpaid, by law might become be a lien or charge upon any of Borrower's properties, income, or profits. Providedits assets; provided, however, neither Borrower nor its Subsidiaries will not be required to pay and discharge any such assessment, tax, charge, lxxxxxxx, xxxx or claim (collectively the “"Charges”") so long as: (A) the legality of the same shall be promptly contested in good faith by appropriate proceedings; (B) Borrower or its Subsidiaries shall have either (i) created adequate reserves for such Charge in the event of a Charge of less than $25,000, or (ii) in the event of a Charge of $25,000 or more, upon written request from DIP Lender, deposited with DIP Lender cash, a sufficient corporate surety bond or other security satisfactory in form and and. substance to DIP Lender in an amount adequate to provide for the release of such Charge plus any interest, costs, attorneys' fees or other amounts that could accrue as a result of foreclosure or sale of the Collateral; and (C) such contest operates to suspend collection of the Charge; and (D) none of the Collateral is subject to forfeiture . Borrower or loss of any Security Interest (or the priority thereof) by reason of the institution or prosecution of such contest as determined by Lender. Borrowerits Subsidiaries, upon demand of DIP Lender, will furnish furnish, to DIP Lender evidence of payment of the indebtedness and obligations, including any assessments, taxes, charges, levies, liens and claims and will authorize the appropriate obligor or governmental official to deliver to DIP Lender at any time a written statement of any indebtedness and obligations including any Charges.

Taxes, Charges and Liens. (i) Pay Provided it does not give rise of an Event of Default hereunder, pay and discharge when due prior to delinquency all of its Borrower’s indebtedness and obligations, including without limitation, limitation all assessments, taxes, governmental charges, levies and liens, of every kind and nature, imposed upon any portion of the transactions contemplated hereby, Borrower or on Borrower, the Collateral or Borrower’s other its properties, income, or profits, prior to the 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, lxxxxxxx, xxxx or claim (collectively the “Charges”) so long as: as (Ai) the legality of the same shall be promptly contested in good faith by appropriate proceedings; , and (Bii) Borrower shall have deposited established on its books adequate reserves with Lender cashrespect to such contested assessment, a sufficient corporate surety bond tax, charge, levy, lien, or other security satisfactory claim in form and substance to Lender in an amount adequate to provide for the release of such Charge plus any interest, costs, attorneys' fees or other amounts that could accrue as a result of foreclosure or sale of the Collateral; (C) such contest operates to suspend collection of the Charge; and (D) none of the Collateral is subject to forfeiture or loss of any Security Interest (or the priority thereof) by reason of the institution or prosecution of such contest as determined by Lenderaccordance with generally accepted accounting practices. Borrower, upon demand of Lender, will furnish to Lender evidence of payment of the indebtedness and obligations, including any assessments, taxes, charges, levies, liens and claims and will authorize the appropriate obligor or governmental official to deliver to Lender at any time a written statement of any assessments, taxes, charges, levies, liens and claims against Borrower’s properties, income, or profits. Borrower agrees to indemnify and hold Lender harmless from and against any loss, cost, liability or expense (including, but not limited to, reasonable attorneys’ fees) incurred as a result of the enforcement of any claim against Lender in connection with Borrower’s failure to pay and discharge any indebtedness and obligations including any Chargesor obligation.

Taxes, Charges and Liens. (i) Pay and discharge when due all of its indebtedness indebted- ness and obligations, including without limitation, limitation all assessments, taxes, governmental charges, levies and liens, of every kind and nature, imposed upon any portion of the transactions contemplated herebyBorrower or properties, in- come, or on profits of Borrower, the Collateral or Borrower’s other properties, income, or profits, prior to the date on which penalties would attach, and all lawful claims that, if unpaid, might become a lien or charge upon any of Borrower's the properties, income, or profitsprofits of Borrower. Provided, however, Borrower will not be required to pay and discharge any such assessment, tax, charge, lxxxxxxx, xxxx or claim (collectively the “Charges”) so long as: as (Ai) the legality of the same shall be promptly contested in good faith by appropriate proceedings; , and (Bii) Borrower shall have deposited estab- lished on its books adequate reserves with Lender cashrespect to such contested assessment, a sufficient corporate surety bond tax, charge, levy, lien, or other security satisfactory claim in form and substance to Lender in an amount adequate to provide for the release of such Charge plus any interest, costs, attorneys' fees or other amounts that could accrue as a result of foreclosure or sale of the Collateral; (C) such contest operates to suspend collection of the Charge; and (D) none of the Collateral is subject to forfeiture or loss of any Security Interest (or the priority thereof) by reason of the institution or prosecution of such contest as determined by Lenderaccordance with generally accepted accounting principles. Borrower, upon demand of Lender, will furnish to Lender evidence of payment of the indebtedness and obligations, including any assessments, taxes, charges, levies, liens and claims and will authorize the appropriate obligor or governmental official official to deliver to Lender at any time a written statement of any indebtedness assessments, taxes, charges, levies, liens and obligations including any Charges.claims against properties, income, or profits of Borrower. ���Operations. Substantially maintain its present executive and management personnel (other than changes of present executive and management personnel following the resignation or termination of an employee, where Lender has approved the person replacing such employee within thirty days of resignation or termination, which approval shall not be unreasonably withheld); conduct its business affairs in a reasonable and prudent manner and in material compliance with all applicable federal, state and local laws, ordinances, rules and regulations respecting its properties, charters, businesses and operations. Upon prior notice V111920