No Liabilities; Material Changes Sample Clauses
The "No Liabilities; Material Changes" clause serves to confirm that, as of a specified date or event, the party making the representation has not incurred any undisclosed liabilities and that there have been no significant adverse changes in its financial condition or business. In practice, this clause requires the disclosing party to affirm that all known debts, obligations, or potential claims have been revealed, and that no major events—such as lawsuits, losses, or operational disruptions—have occurred since a certain date. Its core function is to protect the other party from unexpected financial risks or negative developments that could affect the value or stability of the transaction, ensuring transparency and reducing the likelihood of post-closing disputes.
No Liabilities; Material Changes. Except as set forth in the financial statements referred to in Section 3.04(a), as of the Closing Date, there are no liabilities of any Company of any kind, whether accrued, contingent, absolute, determined, determinable or otherwise, which could reasonably be expected to result in a Material Adverse Effect, and there is no existing condition, situation or set of circumstances which could reasonably be expected to result in such a liability, other than liabilities under the Loan Documents. Since March 31, 2014, no event, change or circumstance has occurred that, individually or in the aggregate, has had or could reasonably be expected to result in a Material Adverse Effect.
No Liabilities; Material Changes. Except as set forth in the financial statements referred to in Section 3.04(a), as of the Closing Date, there are no liabilities of any Company of any kind, whether accrued, contingent, absolute, determined, determinable or otherwise, which could reasonably be expected to result in a Material Adverse Effect.
No Liabilities; Material Changes. Except as set forth in the financial statements referred to in Section 3.04(a), as of the ARCA Effective Date, there are no liabilities of any Company of any kind, whether accrued, contingent, absolute, determined, determinable or otherwise, which could reasonably be expected to result in a Material Adverse Effect, and there is no existing condition, situation or set of circumstances which could reasonably be expected to result in such a liability, other than liabilities under the Loan Documents. Since September 30, 2010, no event, change or circumstance has occurred that, individually or in the aggregate, has had or could reasonably be expected to result in a Material Adverse Effect.