Company: PAYX
Filing Date: 2025-04-08
Form Type: 424B2
Source: 0001193125-25-075170
Chunk: 31

Company: PAYCHEX INC
Filing Date: 2025-04-08
Form: 424B2
Chunk 31
---
 other payments pursuant to any contract or statute or to secure Indebtedness incurred or guaranteed for the purpose of financing all or any 
 portion of the cost of acquiring, refurbishing, improving, expanding, renovating, developing or constructing such Property, including Liens incurred in connection with pollution control, industrial revenue or similar financing;                    |

| (6) | certain statutory or legislative Liens or other similar Liens (including pledges, deposits, carriers’,                                                                                                                        
 warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens imposed by law) arising in the ordinary course of our or any of our domestic wholly owned subsidiaries’ business, or certain Liens arising out of 
 government contracts;                                                                                                                                                                                                         |

| (7) | Liens in connection with legal proceedings, including certain Liens arising out of judgments or awards, in each                                                                                                                                           
 case so long as such Lien is adequately bonded and any appropriate legal proceedings that may have been initiated for the review of such judgment, decree or order shall not have been finally terminated or the period within which such proceedings may 
 be initiated shall not have expired;                                                                                                                                                                                                                      |

| (8) | Liens for certain taxes or assessments, landlord’s Liens and Liens and charges, in each case (a) not                                                                                                      
 yet due or payable or subject to penalties for non-payment or which we are contesting in good faith by appropriate proceedings and for which adequate reserves have been made in accordance with GAAP and 
 (b) incidental to the conduct of the business or the ownership of our assets or those of a domestic wholly owned subsidiary;                                                                              |

| (9) | Liens incurred in connection with an acquisition of assets or a project financed on a non-recourse basis; |

| (10) | deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal     
 bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; |

| (11) | easements, zoning restrictions,                                                                                                                                         
 rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do 
 not materially detract from the value of the affected property or interfere with the ordinary conduct of our business;                                                  |

| (12) | Liens securing obligations arising under or related to (a) the transfer of cash or other property with     
 respect to any credit or debit card charge,