Common use of Payment of Indebtedness; Performance of Other Obligations Clause in Contracts

Payment of Indebtedness; Performance of Other Obligations. The Borrowers shall, and shall cause each of their Subsidiaries to, pay all Indebtedness when due and all other obligations in accordance with customary trade practices, and to comply with all acts, rules, regulations and orders of any legislative, administrative or judicial body or official applicable to any Borrower or Subsidiary, or their assets or properties, or any part thereof or to the operation of any Borrower's or Subsidiary's business; provided, however, that the Borrowers or any Subsidiary may, in good faith, by appropriate proceedings and with due diligence contest any such Indebtedness, rules, regulations, orders and directions, and against which the Borrowers will establish and maintain such reserves as may be required, and in such amounts, as provided for in Section 11.

Appears in 2 contracts

Sources: Loan Agreement (Krispy Kreme Doughnuts Inc), Loan Agreement (Krispy Kreme Doughnuts Inc)