DEBTS AND TAXES. Franchisee shall pay or cause to be paid promptly when due all obligations incurred, directly or indirectly, in connection with the Restaurant and its operation, including, without limitation, (a) all taxes and assessments that may be assessed against the Restaurant land, building and other improvements, equipment, fixtures, signs, furnishings, and other property; (b) all liens and encumbrances of every kind and character created or placed upon or against any of said property, and; (c) all accounts and other indebtedness of every kind and character incurred by or on behalf of Franchisee in the conduct of the Restaurant business. Notwithstanding the foregoing, Franchisee will not be in default of this Agreement as a result of a non-payment or non-performance of the foregoing so long as it disputes said debt or lien and is, in the sole opinion of Franchisor, validly and in good faith pursuing a resolution of said claim or lien and has reserved sufficient sums to pay the debt/claim as is agreed to by Franchisor.
DEBTS AND TAXES. The Borrower shall pay and discharge all current obligations in a manner consistent with commercially reasonable practice, including without limitation, trade accounts payable and all taxes, assessments, and governmental charges and levies imposed upon it or upon its income or profits or upon any of its property prior to the date on which penalties attach; provided, however, the Borrower shall not be required to pay any such obligation, tax, assessment, charge or levy, the payment of which is being contested in good faith and by proper proceedings if a reserve is maintained with respect thereto in accordance with GAAP and in amounts reasonably deemed adequate by Bank.
DEBTS AND TAXES. Borrower and each Subsidiary shall pay and discharge all current obligations in a manner consistent with commercially reasonable practice, including without limitation, trade accounts payable and all taxes, assessments, and governmental charges and levies imposed upon it or upon its income or profits or upon any of its property prior to the date on which penalties attach; provided, however, Borrower and each Subsidiary shall not be required to pay any such obligation, tax, assessment, charge or levy, the payment of which is being contested in good faith and by proper proceedings if a reserve is maintained with respect thereto in accordance with GAAP and in amounts reasonably deemed adequate by Bank.
DEBTS AND TAXES. The Franchisee shall pay promptly when due all obligations incurred directly or indirectly in connection with the Restaurant and its operation; including, without limitation, all taxes and assessments that may be assessed against the Restaurant land, building and other improvements, equipment, fixtures, signs, furnishings and other property, and all liens and encumbrances of every kind and character incurred by or on behalf of the Franchisee in the conduct of the Restaurant business.
DEBTS AND TAXES. A. Operator shall promptly pay when due all Taxes levied or assessed, and all accounts and other indebtedness of every kind incurred by Operator in the conduct of the Licensed Business under this Agreement. Without limiting the provisions of Article XVI, Operator shall be solely liable for the payment of all Taxes and shall indemnify Licensor for the full amount of all such Taxes imposed on Licensor, and for any liability (including penalties, interest and expenses) arising from or concerning the payment of Taxes, whether Taxes were correctly or legally asserted or not.
DEBTS AND TAXES. F-29 18. TRADE NAMES, SERVICE MARKS AND TRADEMARKS......................F-29 19. EXPIRATION AND TERMINATION; OPTION TO PURCHASE RESTAURANT; ATTORNEYS' FEES...........................F-31 20. NO WAIVER OF DEFAULT...........................................F-36 21. CONSTRUCTION, SEVERABILITY, GOVERNING LAW AND JURISDICTION.................................F-36 22. INTERFERENCE WITH EMPLOYMENT RELATIONS.........................F-37 23. LIQUOR LICENSE.................................................F-38 24. FORCE MAJEURE..................................................F-38 25. MISCELLANEOUS..................................................F-39 26. ACKNOWLEDGMENTS................................................F-41 EXHIBIT 1: ROYALTY FEE................................................F-43 APPENDIX A: STATEMENT OF OWNERSHIP INTERESTS...........................F-44 APPENDIX B: REVIEW AND CONSENT WITH RESPECT TO TRANSFERS.......................................F-45 XXXXXXXX'X NEIGHBORHOOD GRILL & BAR FRANCHISE AGREEMENT This Agreement is made this ________ day of _____________________, 20______, by and between XXXXXXXX'X INTERNATIONAL, INC., a Delaware corporation ("FRANCHISOR"), _____________________________________________, a (_______________ corporation, sole proprietorship, _______________ partnership, _______________ limited partnership [strike inappropriate language]) ("FRANCHISEE") and ______________________________ (collectively, the "PRINCIPAL SHAREHOLDERS" and, individually, a "PRINCIPAL SHAREHOLDER" of Franchisee if a corporation or general partner if Franchisee is a limited partnership having as its general partner a corporation) and ________________________________________________________________________________ ("GENERAL PARTNER" of Franchisee if Franchisee is a limited partnership).* * (If Franchisee is not a corporation or a sole proprietorship, or if Franchisee is a limited liability company, the parties hereto hereby agree that an Addendum shall be attached to this Agreement so as properly to reflect the responsibilities of the partners of any general partnership, the general partner of any limited partnership and the shareholders of any corporate general partner of any partnership, or the members of any limited liability company.)
DEBTS AND TAXES. 28 18. TRADE NAMES, SERVICE MARKS AND TRADEMARKS....................... 28 19.
DEBTS AND TAXES. 7.1. It is specifically understood and agreed that Buyer shall not assume Seller's accounts payable. Seller agrees and hereby indemnifies and holds Buyer harmless from any and all claims arising out of non-payment of such accounts payable.
DEBTS AND TAXES. Franchisee shall pay or cause to be paid promptly when due all obligations incurred, directly or indirectly, in connection with the Restaurant and its operation, including, without limitation, (a) all taxes and assessments that may be assessed against the Restaurant land, building and other improvements, equipment, fixtures, signs, furnishings, and other property; (b) all debts or other sums secured by liens and encumbrances of every kind and character created or placed upon or against any of said property, and; (c) all accounts and other indebtedness of every kind and character incurred by or on behalf of Franchisee in the conduct of the Restaurant business. Notwithstanding the foregoing, Franchisee will not be in default of this Agreement as a result of a non-payment or non-performance of the foregoing so long as it disputes said debt or lien and is, in the sole opinion of Franchisor, validly and in good faith pursuing a resolution of said claim or lien and has reserved sufficient sums to pay the debt/claim as is agreed to by Franchisor.
DEBTS AND TAXES. 40 ARTICLE XV
