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

Payment of Indebtedness; Performance of Other Obligations. The Borrower and its Subsidiaries shall pay all material Indebtedness for Money Borrowed before such indebtedness shall become past due, all taxes, assessments and other governmental charges that may be levied or assessed upon the Borrower or its Subsidiaries or the Collateral when due and all other material obligations in accordance with customary trade practices, and comply with all acts, rules, regulations and orders of any legislative, administrative or judicial body or official applicable to the Collateral or any part thereof or to the operation of the business of the Borrower and its Subsidiaries; provided, however, that the Borrower and its Subsidiaries may in good faith by appropriate proceedings and with due diligence contest any such indebtedness, taxes, assessments, governmental charges, acts, rules, regulations, orders and directions that do not in the Bank's reasonable judgment materially and adversely affect the value of the Collateral or the priority of the Bank's lien in the Collateral, and if requested by the Bank or MIDFA, shall establish reserves reasonably satisfactory to the Bank. The Borrower and its Subsidiaries shall also observe and remain in compliance with all laws, ordinances, governmental rules and regulations to which it is subject and obtain all licenses, permits, franchises or other governmental authorizations necessary to the ownership of its properties or the conduct of its business, and all covenants and conditions of all agreements and instruments to which the Borrower or any of its Subsidiaries is a party, which failure to comply or failure to obtain would materially and adversely affect the business, prospects, profits, properties or condition (financial or otherwise) of the Borrower and its Subsidiaries taken as a whole.

Payment of Indebtedness; Performance of Other Obligations. The Borrower and the Guarantors will, and the Borrower will cause each of its Subsidiaries shall to, pay all material Indebtedness for Money Borrowed before such indebtedness shall become past due, all taxes, assessments and other governmental charges that may be levied or assessed upon the Borrower or its Subsidiaries it or the Collateral Project Site when due and all other material obligations in accordance with customary trade practices, and comply with all acts, rules, regulations and orders of any legislative, administrative or judicial body or official applicable to the Collateral Project, the Project Site or any part thereof or to the operation of the business of the Borrower and its Subsidiariesbusiness; provided, however, that the Borrower and its Subsidiaries Borrower, a Guarantor or any Subsidiary may in good faith by appropriate proceedings and with due diligence contest any such indebtedness, taxes, assessments, governmental charges, acts, rules, regulations, orders and directions that do not in the Bank's reasonable judgment materially and adversely affect the value of the Collateral or the priority of the BankBorrower's lien in the Collateralability to fulfill its obligations under Article III hereof, and if requested by the Bank or MIDFABank, shall establish reserves reasonably satisfactory to the Bank. The Borrower and the Guarantors will, and the Borrower will cause each of its Subsidiaries shall also to, observe and remain in compliance with all laws, ordinances, governmental rules and regulations to which it is subject and obtain all licenses, permits, franchises or other governmental authorizations necessary to the ownership of its properties or the conduct of its business, and observe and perform all covenants and conditions of all agreements and instruments to which the Borrower or any of its Subsidiaries it is a party, which except where failure to comply or failure to obtain would materially and adversely affect do so will not have a material adverse effect on the businessBorrower, prospects, profits, properties or condition (financial or otherwise) of the Borrower and its Subsidiaries and the Guarantors, taken as a whole.