Common use of Liabilities; Litigation Clause in Contracts

Liabilities; Litigation. (1) The financial statements delivered by such Borrower and each Borrower Party are true and correct in every material respect with no significant change since the date of preparation. Except as disclosed in such financial statements, there are no liabilities (fixed or contingent) affecting the Mortgaged Property, such Borrower or any Borrower Party. Except as disclosed in such financial statements, there is no litigation, administrative proceeding, investigation or other legal action (including any proceeding under any state or federal bankruptcy or insolvency law) pending or, to the knowledge of Borrowers, threatened, against the Mortgaged Property, any Borrower or any Borrower Party which if adversely determined could have a material adverse effect on such party, the Mortgaged Property or the Loan. (2) Neither any Borrower nor any Borrower Party is contemplating either the filing of a petition by it under state or federal bankruptcy or insolvency laws or the liquidation of all or a major portion of its assets or property, and neither any Borrower nor any Borrower Party has knowledge of any Person contemplating the filing of any such petition against it.

Liabilities; Litigation. (1a) The financial statements delivered by such Borrower Borrowers and each Borrower Loan Party are true and correct in every material respect with no significant change since the date of preparation. Except as disclosed in such financial statements, there are no liabilities (fixed or contingent) affecting the Mortgaged Propertyany Project, such any Borrower or any Borrower Loan Party. Except as disclosed in such financial statements, there is no litigation, administrative proceeding, investigation or other legal action (including any proceeding under any state or federal bankruptcy or insolvency law) pending or, to the knowledge of Borrowersany Borrower, threatened, against the Mortgaged Propertyany Project, any Borrower or any Borrower Party Loan Party, which if adversely determined could have a material adverse effect on such party, the Mortgaged Property any Project or the Loan. (2b) Neither any Borrower nor any Borrower Party Loan Party, nor any Master Tenant, nor any Property Manager is contemplating either the filing of a petition by it under state or federal bankruptcy or insolvency laws or the liquidation of all or a major portion of its assets or property, and neither any Borrower nor any Borrower Loan Party nor any Master Tenant or Property Manager has knowledge of any Person contemplating the filing of any such petition against it.

Liabilities; Litigation. (1a) The financial statements delivered by such Borrower and each Borrower Party Borrowers, Guarantor and, Master Tenants are true and correct in every material respect with no significant change since the date of preparation. Except as disclosed in such financial statements, there are no liabilities (fixed or contingent) affecting the Mortgaged Propertyany Project, such Borrower any Borrower, Guarantor or any Borrower PartyMaster Tenant. Except as disclosed in such financial statementsstatements or on Schedule 5.6, there is no litigation, administrative proceeding, investigation or other legal action (including any proceeding under any state or federal bankruptcy or insolvency law) pending or, to the knowledge of Borrowersany Borrower, threatened, against the Mortgaged Propertyany Project, any Borrower Borrower, Guarantor or any Borrower Party Master Tenant which if adversely determined could have a material adverse effect on such party, the Mortgaged Property any Project or the LoanLoans. (2b) Neither any Borrower No Borrower, Guarantor, nor any Borrower Party Master Tenant is contemplating either the filing of a petition by it under state or federal bankruptcy or insolvency laws or the liquidation of all or a major portion of its assets or property, and neither any Borrower no Borrower, Guarantor nor any Borrower Party Master Tenant has knowledge of any Person contemplating the filing of any such petition against it.

Liabilities; Litigation. (1a) The financial statements delivered by such Borrower and each Borrower Party are true true, correct and correct in every material respect complete with no significant material adverse change since the date of preparation. Except as disclosed in such financial statements, there are no liabilities (fixed or contingent) affecting the Mortgaged PropertyPortfolio, such Borrower or any Borrower Party, except for such liabilities as exist in the ordinary course of business or in connection with constructing the Improvements. Except as disclosed in such financial statementsSchedule 6.3, there is no litigation, administrative proceeding, investigation or other legal action (including any proceeding under any state or federal bankruptcy or insolvency law) pending or, to the knowledge of BorrowersBorrower, threatened, against the Mortgaged PropertyPortfolio, any Borrower or any Borrower Party which if adversely determined could have a material adverse effect on such party, the Mortgaged Property Portfolio, any Property, or the LoanLoans. (2b) Neither any Borrower nor any Borrower Party is contemplating either the filing of a petition by it under state or federal bankruptcy or insolvency laws or the liquidation of all or a major portion of its assets or property, and neither any Borrower nor any Borrower Party has knowledge of any Person contemplating the filing of any such petition against it.