Common use of Trade Indebtedness Clause in Contracts

Trade Indebtedness. Manager will pay its trade payables within ninety (90) days of the date incurred, unless Manager is in good faith contesting Manager's obligation to pay such trade payables in a manner reasonably satisfactory to Lender (which may include Lender's requirement that Manager, as the case may be, post security with respect to the contested trade payable).

Appears in 2 contracts

Sources: Loan Agreement (Brookdale Living Communities Inc), Loan Agreement (Brookdale Living Communities Inc)