Taxes. Borrower will, and will cause Parent and each Subsidiary of Parent to, pay in full before delinquency or before the expiration of any extension period all governmental assessments and taxes imposed, levied, or assessed against it, or any of its assets or in respect of any of its income, businesses, or franchises, except # to the extent that the validity of such governmental assessment or tax is the subject of a Permitted Protest or # to the extent that any failure to pay such assessments and taxes could not reasonably be expected, either individually or in the aggregate, to result in liabilities in excess of $250,000.

Taxes. Each Borrower will, and will cause each of its Subsidiaries to, pay in full before delinquency or before the expiration of any extension period all material governmental assessments and Taxes imposed, levied, or assessed against it, or any of its assets or in respect of any of its income, businesses, or franchises, except to the extent that the validity of such governmental assessment or Tax is the subject of a Permitted Protest.

Taxes. Parent will, and will cause each of its Restricted Subsidiaries to, pay in full before delinquency or before the expiration of any extension period all Taxes imposed, levied, or assessed against it, or any of its assets or in respect of any of its income, businesses, or franchises, other than Taxes not in excess of $5,000,000 outstanding at any time and other than to the extent that the validity of such Tax is the subject of a Permitted Protest.