Examples of Priority Payables in a sentence
All expenses of protecting, storing, warehousing, insuring, handling, maintaining and shipping any Collateral, all Priority Payables and Taxes payable with respect to any Collateral (including any sale thereof), and all other payments required to be made by Agent to any Person to realize upon any Collateral, shall be borne and paid by Obligors.
Each Obligor and Subsidiary (other than any Immaterial Foreign Subsidiary) has filed all federal, state, provincial, territorial, and other material tax returns and other reports that it is required by law to file, and has paid, or made provision for the payment of, all material Taxes and Priority Payables upon it, its income and its Properties that are due and payable, except to the extent being Properly Contested.
Without limitation of the foregoing, Agent shall have the right (but not the obligation), to establish from time to time, against the Maximum Revolving Advance Amount, Reserves to reflect the risks, as determined by Agent in its sole discretion exercised in a commercially reasonable manner, of currency exchange rate fluctuations with respect to any Revolving Advances or Letters of Credit denominated in Canadian Dollars or with respect to any Priority Payables.
There are no Priority Payables outstanding in respect of which payments are overdue.
Pursuant to the ARIO, the DIP Lender’s Charge ranks below the CRA Priority Payables in priority against the Property.