Common use of Payables Clause in Contracts

Payables. Except as described in Appendix III attached hereto and except for items being properly contested, all rent, utility, lease, trade liabilities and other obligations, inclusive of all taxes and insurance, are current and being paid as agreed and there are no held or post-dated checks outstanding with respect to any such obligations. If any such obligations are not current or if there are any held or post-dated checks outstanding, the Loan Parties have taken or propose to take those actions with respect to such obligations and/or held or post-dated checks as described on said Appendix III.