Payments of Obligations Sample Clauses
The "Payments of Obligations" clause sets out the requirements and procedures for fulfilling financial commitments under an agreement. It typically details when and how payments must be made, the acceptable methods of payment, and any conditions or deadlines associated with these obligations. For example, it may specify that all invoices must be paid within 30 days of receipt or outline the consequences of late payments. The core function of this clause is to ensure clarity and predictability in the payment process, reducing the risk of disputes or misunderstandings regarding financial transactions between the parties.
Payments of Obligations. The Borrower shall, and shall cause its Subsidiaries to, pay and discharge as the same shall become due and payable (or prior to delinquency), all obligations and liabilities material to the Borrower and its Subsidiaries taken as a whole, including:
(i) all tax liabilities, assessments and governmental charges or levies upon it or its Property or assets, and
(ii) all lawful claims which, if unpaid, might by law become a Lien other than a Permitted Lien upon its Property. except in each case (x) those that are being contested in good faith by appropriate proceedings and adequate reserves in accordance with GAAP are being maintained by the Borrower or such Subsidiary or (y) the nonpayment of which would not, in the aggregate, have a Material Adverse Effect.
Payments of Obligations. The Borrower shall and shall cause each Covered Group Member (i) to timely file or cause to be filed all federal and material state and other tax returns that are required to be filed and all such tax returns shall be true and correct and (ii) to timely pay and discharge or cause to be paid and discharged promptly all federal and material state and other taxes, assessments and governmental charges or levies imposed upon the Borrower or any of the other Covered Group Members or upon any of their respective incomes or receipts or upon any of their respective properties before the same shall become in default or past due, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might result in the imposition of a Lien or charge upon such properties or any part thereof; provided that it shall not constitute a violation of the provisions of this Section 5.4 if the Borrower or any of the other Covered Group Members shall fail to pay any such tax, assessment, government charge or levy or claim for labor, materials or supplies which is being contested in good faith, by proper proceedings diligently pursued, and as to which adequate reserves have been provided.
Payments of Obligations. The Company will pay and discharge, and will cause each Credit Party to pay and discharge, at or before maturity, all their respective material obligations and liabilities, including, without limitation, tax liabilities, except where the same may be contested in good faith by appropriate proceedings, and will maintain, and will cause each Credit Party to maintain, in accordance with GAAP, appropriate reserves for the accrual of any of the same.
Payments of Obligations. The Borrower shall, and shall cause its Subsidiaries to, pay and discharge as the same shall become due and payable, all obligations and liabilities material to the Borrower and its Subsidiaries taken as a whole, including:
(i) all tax liabilities, assessments and governmental charges or levies upon it or its Properties or assets, unless (x) the same are being contested in good faith by appropriate proceedings and adequate reserves in accordance with GAAP are being maintained by the Borrower or such Subsidiary or (y) the same are levied or imposed on Subsidiaries other than Significant Subsidiaries and the nonpayment of which would not, in the aggregate, have a Material Adverse Effect; and
(ii) all lawful claims which, if unpaid, might by law become a Lien other than a Permitted Lien upon its Property.
Payments of Obligations. Borrower shall pay and discharge when due all of its indebtedness and obligations, including without limitation, all assessments, taxes, governmental charges, levies and liens, of every kind and nature, imposed upon Borrower or its properties, income, or profits, prior to the date on which penalties would attach, and all lawful claims that, if unpaid, might become a lien or charge upon any of Borrower's properties, income, or profits; provided, however, Borrower will not be required to pay and discharge any such assessment, tax charge, ▇▇▇▇, ▇▇▇▇ or claim as long as (i) the legality of the same shall be contested in good faith by appropriate judicial, administrative or other legal proceedings, and (ii) Borrower shall have established on its books adequate reserves with respect to such contested assessment, tax, charge, ▇▇▇▇, ▇▇▇▇ or claim in accordance with generally accepted accounting principles, consistently applied.
Payments of Obligations. The Borrower shall, and shall cause its Subsidiaries to, pay and discharge as the same shall become due and payable (or prior to delinquency), all obligations and liabilities material to the Borrower and its Subsidiaries taken as a whole, including:
(i) all tax liabilities, assessments and governmental charges or levies upon it or its Properties or assets, and
(ii) all lawful claims which, if unpaid, might by law become a Lien other than a Permitted Lien upon its Property.
Payments of Obligations. The Borrower shall, and shall cause each Subsidiary to pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all of their obligations of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of Borrower or such Subsidiary.
Payments of Obligations. Pay and discharge when due all of its ----------------------- indebtedness and obligations, including without limitation, all assessments, taxes, governmental charges, levies and liens, of every kind and nature, imposed upon the Borrower or Guarantors, prior to the date on which penalties would attach, and all lawful claims that, if unpaid, might become a lien or charge upon any of the Borrower's or Guarantor's properties, income, or profits; provided, however, the Borrower or Guarantor will not be required to pay and discharge any such assessment, tax charge, levy, lien or claim as long as (▇) ▇▇▇ ▇▇▇ality of the same shall be contested in good faith by appropriate judicial, administrative or other legal proceedings, and (ii) the Borrower or Guarantor shall have established on its books adequate reserves with respect to such contested assessment, tax, charge, levy, lien or claim in accordance ▇▇▇▇ ▇▇▇▇rally accepted accounting principles, consistently applied.
Payments of Obligations. The Borrower shall, and shall cause its Subsidiaries to, pay and discharge as the same shall become due and payable, all its material obligations and liabilities, including (a) all material tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with US GAAP, Regulated Accounting Principles, UK GAAP or MX GAAP, as applicable are being maintained by the Borrower or such Subsidiary; (b) all lawful claims which, if unpaid, would by law become a Lien upon its property (other than a Permitted Lien); and (c) all Indebtedness, as and when due and payable, in excess of the Threshold Amount, but subject to any subordination provisions contained in any instrument or agreement evidencing such Indebtedness; provided, however, that the Borrower and its Subsidiaries shall not be required to pay any such tax, assessment, charge, levy, claim or Indebtedness which is being contested in good faith by appropriate proceedings and as to which adequate reserves have been established in accordance with US GAAP, Regulated Accounting Principles, UK GAAP or MX GAAP, as applicable, unless the failure to make any such payment could give rise to an immediate right to foreclose on a Lien securing such amounts.
Payments of Obligations. The Borrower shall, and shall cause its Subsidiaries to pay and discharge as the same shall become due and payable, all its material obligations and liabilities, including (a) all material tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with US GAAP are being maintained by the Borrower or such Subsidiary; (b) all lawful claims which, if unpaid, would by law become a Lien upon its property (other than a Permitted Lien); and (c) all Indebtedness, as and when due and payable, in excess of the Threshold Amount, but subject to any subordination provisions contained in any instrument or agreement evidencing such Indebtedness; provided, however, that the Borrower and its Subsidiaries shall not be required to pay any such tax, assessment, charge, levy, claim or Indebtedness which is being contested in good faith by appropriate proceedings and as to which adequate reserves have been established in accordance with GAAP, unless the failure to make any such payment could give rise to an immediate right to foreclose on a Lien securing such amounts.