Common use of Absence of Liabilities Clause in Contracts

Absence of Liabilities. Seller does not have any Liabilities that would in any manner impair any of the Partnership Interests or result in any Lien on any of the Partnership Interests. Shareholder has no knowledge of any basis for the assertion against Seller of any Liability and to the knowledge of the Shareholder, there are no circumstances, conditions, happenings, events or arrangements, contractual or otherwise, which may give rise to Liabilities that would result in any Lien on any of the Partnership Interests or have a material adverse effect on any of the Partnership Interests.