Common use of Accuracy of Financial Statements Clause in Contracts

Accuracy of Financial Statements. Neither the Borrower nor any of its Subsidiaries has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in a Material Adverse Change.

Accuracy of Financial Statements. Neither the Borrower nor any of its Subsidiaries has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could would reasonably be expected to result in a Material Adverse ChangeEffect.

Accuracy of Financial Statements. Neither the Borrower nor any of its Subsidiaries has any material liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Historical Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower its Subsidiaries that could would reasonably be expected to result in cause a Material Adverse Change. Since December 31, 2020, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that which could reasonably be expected to result in cause a Material Adverse Change. Since December 31, 2010, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any of its Subsidiaries has any material liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Historical Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower its Subsidiaries that could would reasonably be expected to result in cause a Material Adverse Change. Since December 31, 2018, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any of its Subsidiaries has any material liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Historical Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower its Subsidiaries that could would reasonably be expected to result in cause a Material Adverse Change. Since December 31, 2013, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since December 31, 2007, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since June 30, 2018, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are required to be disclosed in accordance with GAAP which are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein therein, there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could which would reasonably be expected to result in cause a Material Adverse Change.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since January 2, 2016, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any of its Subsidiaries has any material liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Historical Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower its Subsidiaries that could would reasonably be expected to result in cause a Material Adverse Change. Since December 31, 2017, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any of its Subsidiaries has any material liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Historical Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower its Subsidiaries that could would reasonably be expected to result in cause a Material Adverse Change. Since December 31, 2023, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since June 30, 2012, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the No Borrower nor any of its their respective Subsidiaries has any liabilities, contingent or otherwiseotherwise (other than obligations under Policies), or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could their respective Subsidiaries which may reasonably be expected to result in a Material Adverse Change. Since December 31, 2011, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since December 31, 2010, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any material liabilities, contingent or otherwise, or forward or long-long- term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since December 31, 2016, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since June 30, 2015, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any material liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that which could reasonably be expected to result in cause a Material Adverse Change. Since December 31, 2012, no Material Adverse Change has occurred, except as set forth on Schedule 6.1.6.

Accuracy of Financial Statements. Neither the Borrower nor any of its Subsidiaries has any material liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Historical Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in other Loan Party which may cause a Material Adverse Change. Since December 31, 1998, no Material Adverse Change has occurred with respect to MotivePower or WABCO.

Accuracy of Financial Statements. Neither the Borrower nor any of its Subsidiaries has any liabilities, contingent or otherwiseotherwise (other than obligations under Policies), or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could its Subsidiaries which may reasonably be expected to result in a Material Adverse Change.. Since December 31, 2018, no Material Adverse Change has occurred. 4.1.7

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which would constitute a Material Adverse Change. Since December 31, 2009, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Historical Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in each case which would cause or constitute a Material Adverse Change.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that which could reasonably be expected to result in have a Material Adverse ChangeEffect. Since December 31, 2013, there has been no event or development which has had or could reasonably be expected to have a Material Adverse Effect.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any material liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since December 31, 2006, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which constitutes a Material Adverse Change. Since March 31, 2015, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower Borrowers nor any Subsidiary of its Subsidiaries the Borrowers has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in a Material Adverse Change.the

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any material liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no material unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that which could reasonably be expected to result in cause a Material Adverse Change. Since June 30, 2019, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any material liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since December 31, 2008, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any of its consolidated Subsidiaries has has, as of the respective dates thereof, any material liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any such Subsidiary of the Borrower that could which would reasonably be expected likely to result in a Material Adverse Change. Since March 31, 2012, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since January 1, 2008, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Historical Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since June 30, 2006, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Historical Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change.. Since December 31, 2003, no Material Adverse Change has occurred. Use of Proceeds; Margin Stock; Section 20

Accuracy of Financial Statements. Neither the The Borrower nor any of its Subsidiaries has does not have any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Historical Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since December 31, 1996, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any material liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that which could reasonably be expected to result in cause a Material Adverse Change. Since December 31, 2011, no Material Adverse Change has occurred, except as set forth on Schedule 6.1.6.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which constitutes a Material Adverse Change.. Since March 31, 2015, no Material Adverse Change has occurred. 5.1.7

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since March 31, 2008, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the No Borrower nor any of its their respective Subsidiaries has any liabilities, contingent or otherwiseotherwise (other than obligations under Policies), or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could their respective Subsidiaries which may reasonably be expected to result in a Material Adverse Change.. Since December 31, 2011, no Material Adverse Change has occurred. 5.1.7

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change.. Since January 2, 2016, no Material Adverse Change has occurred. 6.1.7

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Historical Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since June 30, 2010, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither -------------------------------- the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Historical Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since December 31, 1996, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower, has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Historical Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since December 3 1,1999, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since October 31, 2009, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any of its consolidated Subsidiaries has has, as of the respective dates thereof, any material liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any such Subsidiary of the Borrower that could which would reasonably be expected likely to result in a Material Adverse Change. Since March 31, 2016, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since December 31, 2012, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any material liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Historical Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since February 1, 2003, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any Subsidiary of its Subsidiaries the Borrower has any liabilities, contingent or otherwise, or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could reasonably be expected to result in which may cause a Material Adverse Change. Since December 31, 2013, no Material Adverse Change has occurred.

Accuracy of Financial Statements. Neither the Borrower nor any of its Subsidiaries has any liabilities, contingent or otherwiseotherwise (other than obligations under Policies), or forward or long-term commitments that are not disclosed in the financial statements referred to in clauses (a) and (b) of this Section 5.10 Statements or in the notes thereto, and except as disclosed therein there are no unrealized or anticipated losses from any commitments of the Borrower or any Subsidiary of the Borrower that could its Subsidiaries which may reasonably be expected to result in a Material Adverse Change. Since December 31, 2018, no Material Adverse Change has occurred.