Common use of Payment of Indebtedness Clause in Contracts

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion shall have been made.

Appears in 13 contracts

Samples: Credit and Security Agreement (Ventures National Inc), Revolving Credit and Security Agreement (Derma Sciences, Inc.), Credit, Term Loan and Security Agreement (World Health Alternatives Inc)

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Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such with respect to which adequate reserves as or other appropriate provisions are being maintained by Borrower in accordance with GAAP to the satisfaction of Lender may deem proper and necessary in its sole discretion shall have been madediscretion.

Appears in 5 contracts

Samples: Loan and Security Agreement (NationsHealth, Inc.), Revolving Credit and Security Agreement (NationsHealth, Inc.), Credit and Security Agreement (Millstream Acquisition Corp)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower shall pay, discharge or otherwise satisfy at or before maturity when due and payable (subject to applicable grace periods and, in the case of trade payables, to ordinary course of payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion shall have been mademade in accordance with GAAP consistently applied.

Appears in 5 contracts

Samples: Loan and Security Agreement (Harvest Capital Credit Corp), Loan and Security Agreement (CURO Group Holdings Corp.), Loan and Security Agreement (Harvest Capital Credit Corp)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods andor before they become delinquent, in as the case may be, all its Indebtedness and other obligations of trade payableswhatever kind or nature, to ordinary course payment practices) all of its material obligations and liabilities, except when unless the amount or validity thereof same is being contested in good faith by Borrower and diligently pursued to completion by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion shall have been madewith adequate reserves.

Appears in 3 contracts

Samples: Credit Agreement (Energy Inc.), Credit Agreement (Energy Inc.), Credit Agreement (Energy Inc.)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender Agent may deem proper and necessary in its sole discretion shall have been mademade therefor.

Appears in 3 contracts

Samples: Revolving Credit and Security Agreement (America Service Group Inc /De), Loan and Security Agreement (America Service Group Inc /De), Credit and Security Agreement (America Service Group Inc /De)

Payment of Indebtedness. Except as otherwise prescribed provided in the Bridge Loan Documents, Borrower shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion shall have been madeproceedings.

Appears in 2 contracts

Samples: Bridge Loan and Security Agreement (NationsHealth, Inc.), Bridge Loan and Security Agreement (NationsHealth, Inc.)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, each Borrower or Guarantor shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion shall have been made.

Appears in 2 contracts

Samples: Term Loan and Security Agreement (PHC Inc /Ma/), Credit, Term Loan and Security Agreement (PHC Inc /Ma/)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower Loan Parties shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion Permitted Discretion shall have been made.

Appears in 2 contracts

Samples: Loan and Security Agreement (Sweetgreen, Inc.), Loan and Security Agreement (Sweetgreen, Inc.)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower Borrowers shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender Agent may deem proper and necessary in its sole discretion Permitted Discretion shall have been made.

Appears in 1 contract

Samples: , and Security Agreement (Advanced Nutraceuticals Inc/Tx)

Payment of Indebtedness. Except as otherwise prescribed in the Loan DocumentsDocuments or any amendment entered into between the parties, Borrower shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion accordance with this Agreement shall have been made.

Appears in 1 contract

Samples: Credit and Security Agreement (Synavant Inc)

Payment of Indebtedness. Except as otherwise prescribed in the Loan DocumentsBorrower shall, and Borrower shall cause its Subsidiaries to, pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender Lenders may deem proper and necessary in its sole discretion shall have been made.

Appears in 1 contract

Samples: Revolving Credit Loan Agreement (FUND.COM Inc.)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion accordance with the terms herein shall have been made.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Derma Sciences Inc)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower Borrowers shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its their material obligations and liabilitiesIndebtedness, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion required by GAAP shall have been made.

Appears in 1 contract

Samples: Credit and Security Agreement (Interpace Diagnostics Group, Inc.)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower Borrowers shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its their material obligations and liabilitiesIndebtedness, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion shall have been madea Permitted Contest.

Appears in 1 contract

Samples: Credit and Security Agreement (Fuse Medical, Inc.)

Payment of Indebtedness. Except as otherwise prescribed in the Loan DocumentsBorrower shall, and Borrower shall cause its Subsidiaries to, pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion shall have been made.

Appears in 1 contract

Samples: Revolving Credit Loan Agreement (FUND.COM Inc.)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such with respect to which adequate reserves as or other appropriate provisions are being maintained by Borrower in accordance with GAAP to the satisfaction of Lender may deem proper and necessary in its sole discretion shall have been made.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (NationsHealth, Inc.)

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Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower shall pay, discharge or otherwise satisfy at or before maturity when due and payable (subject to applicable grace periods and, in the case of trade payables, to ordinary course of payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion shall have been made.made in accordance with GAAP consistently applied. [Harvest] Loan and Security Agreement (Conformed)

Appears in 1 contract

Samples: Loan and Security Agreement (Harvest Capital Credit Corp)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower Obligors shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion shall have been made, but in no event shall such reserve exceed the amount of the obligations or liabilities so contested.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Sunset Brands Inc)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion Permitted Discretion shall have been made.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Women First Healthcare Inc)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, The Borrower shall will pay, discharge or otherwise satisfy at or before maturity (subject subject, where applicable, to applicable specified grace periods and, in the case of the trade payables, to ordinary course normal payment practices) all of its material obligations and liabilitiesliabilities of any nature, except when unless the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion shall have been madeconsented thereto.

Appears in 1 contract

Samples: Credit and Security Agreement (Western Fidelity Funding Inc)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its material obligations and liabilitiesIndebtedness, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion required by GAAP shall have been made.

Appears in 1 contract

Samples: Credit and Security Agreement (Selway Capital Acquisition Corp.)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower and each Subsidiary of Borrower shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion Permitted Discretion shall have been made.

Appears in 1 contract

Samples: Loan and Security Agreement (Access Worldwide Communications Inc)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower Borrowers shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its their material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender Agent may deem proper and necessary in its sole discretion Permitted Discretion shall have been made.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Covista Communications Inc)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower the Credit Parties shall pay, discharge or otherwise satisfy at or before maturity (subject to applicable grace periods and, in the case of trade payables, to ordinary course payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion Permitted Discretion shall have been made.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Rita Medical Systems Inc)

Payment of Indebtedness. Except as otherwise prescribed in the Loan Documents, Borrower Borrowers shall pay, discharge or otherwise satisfy at or before maturity when due and payable (subject to applicable grace periods and, in the case of trade payables, to ordinary course of payment practices) all of its material obligations and liabilities, except when the amount or validity thereof is being contested in good faith by appropriate proceedings and such reserves as Lender may deem proper and necessary in its sole discretion shall have been madeproceedings.

Appears in 1 contract

Samples: Loan and Security Agreement (Smart for Life, Inc.)

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