Common use of Pay Taxes Clause in Contracts

Pay Taxes. Each Obligor shall procure and the Company shall procure that each member of the Bank Group shall ensure that, at all times, there are no material claims or liabilities which are asserted against it in respect of tax, save to the extent the relevant Obligor or in the case of any other member of the Bank Group, the Company (as the case may be) can demonstrate that the same are being contested in good faith on the basis of appropriate professional advice and that proper reserves have been established therefor to the extent required by applicable generally accepted accounting principles.

Pay Taxes. Each Obligor shall procure and the Company shall procure that each member of the Bank Group shall ensure that, at all times, there are no material claims or liabilities which are asserted against it in respect of tax, save to the extent the relevant Obligor or in the case of any other member of the Bank Group, the Company (as the case may be) can demonstrate that the same are being contested in good faith on the basis of appropriate professional advice and 135 that proper reserves have been established therefor to the extent required by applicable generally accepted accounting principles.

Pay Taxes. Each Obligor shall procure (and the Company Borrower shall procure that each member of the Bank Group shall shall), ensure that, that at all times, there are no material claims or liabilities which are asserted against it in 108 respect of tax, save to the extent the relevant Obligor or in the case of any other member of the Bank Group, the Company Borrower (as the case may be) can demonstrate that the same are being contested in good faith on the basis of appropriate professional advice and that proper reserves have been established therefor to the extent required by applicable generally accepted accounting principles.