Common use of No Material Changes, Etc Clause in Contracts

No Material Changes, Etc. Since the Balance Sheet Date there has occurred no materially adverse change in the financial condition or business of the Borrower and its Subsidiaries as shown on or reflected in the consolidated balance sheet of the Borrower and its Subsidiaries as at the Balance Sheet Date, or the consolidated statement of income for the fiscal year then ended, other than changes in the ordinary course of business that have not had any materially adverse effect either individually or in the aggregate on the business or financial condition of the Borrower or any of its Subsidiaries. Since the Balance Sheet Date, the Borrower has not made any Distributions.

No Material Changes, Etc. Since the Balance Sheet Date Date, there has have occurred no materially material adverse change changes in the financial condition or business of the Borrower Borrowers and its their Subsidiaries as shown on or reflected in the consolidated balance sheet of the Borrower Borrowers and its their Subsidiaries as at the Balance Sheet Date, or the consolidated statement of income operations for the fiscal year then ended, ended other than changes in the ordinary course of business that which have not had any materially material adverse effect either individually or in the aggregate on the business or financial condition of the Borrower Borrowers or any of its their Subsidiaries. Since the Balance Sheet Date, the Borrower there has not made been any DistributionsDistribution by any of the Borrowers.

No Material Changes, Etc. Since the Balance Sheet Date there has occurred no materially adverse change in the financial condition or business of the Borrower Borrowers and its their Subsidiaries as shown on or reflected in the consolidated balance sheet of the Borrower Borrowers and its their Subsidiaries as at the Balance Sheet Date, or the consolidated statement of income for the fiscal year then ended, other than changes in the ordinary course of business that have not had any materially adverse effect either individually or in the aggregate on the business or financial condition of the Borrower or any of its Borrowers and their Subsidiaries. Since the Balance Sheet Date, the no Borrower has not made any DistributionsDistribution.

No Material Changes, Etc. (a) Since the Balance Sheet Date there has occurred no materially adverse change in the financial condition or business of the Borrower or CTI and its Subsidiaries as shown on or reflected in the consolidated balance sheet sheets of the Borrower and CTI and its Subsidiaries Subsidiaries, each as at the Balance Sheet Date, or the consolidated statement statements of income for the fiscal year quarter then ended, other than changes in the ordinary course of business that have not had any materially adverse effect either individually or in the aggregate on the business or financial condition of the Borrower or CTI or any of its Subsidiaries. Since the Balance Sheet Date, the Borrower has not made any DistributionsDistribution.

No Material Changes, Etc. Since the Balance Sheet Date there has occurred no materially adverse change in the financial condition or business of any of the Borrower Borrowers and its their Subsidiaries as shown on or reflected in the consolidated balance sheet of the Borrower and its Subsidiaries as at the Balance Sheet Date, or the consolidated statement of income for the fiscal year then ended, other than changes in the ordinary course of business that have not had any materially adverse effect either individually or in the aggregate on the business or financial condition of the Borrower Borrowers or any of its their Subsidiaries. Since the Balance Sheet Date, the Borrower has Borrowers have not made any DistributionsDistribution.

No Material Changes, Etc. Since the Balance Sheet Date there has occurred no materially adverse change in the financial condition or business of the Borrower and its Subsidiaries as shown on or reflected in the consolidated balance sheet of the Borrower and its Subsidiaries as at the Balance Sheet Date, or the consolidated statement of income for the fiscal year then ended, other than changes in the ordinary course of business that have not had any materially adverse effect either individually or in the aggregate on the business or financial condition of the Borrower or any of its Subsidiaries. Since the Balance Sheet Date, the Borrower has not made any DistributionsDistribution.

No Material Changes, Etc. Since Except as disclosed on Schedule 7.5 ------------------------ hereto, since the Balance Sheet Date there has occurred no materially adverse change in the financial condition or business of the Borrower and its Subsidiaries taken as a whole as shown on or reflected in the consolidated balance sheet of the Borrower and its Subsidiaries as at the Balance Sheet Date, or the consolidated statement of income for the fiscal year period then ended, other than changes in the ordinary course of business that have not had any materially adverse effect either individually or in the aggregate on the business or financial condition of the Borrower or any of its SubsidiariesMaterial Adverse Effect. Since the Balance Sheet Date, the Borrower has not made any DistributionsDistribution.

No Material Changes, Etc. Since the Balance Sheet Date there has occurred no materially adverse change in the financial condition or business of the either Borrower and or any of its Subsidiaries as shown on or reflected in the consolidated balance sheet sheets of the Borrower Borrowers and its their respective Subsidiaries as at the Balance Sheet Date, or the consolidated statement statements of income for the fiscal year then ended, other than changes in the ordinary course of business that have not had any materially adverse effect either individually or in the aggregate on the business or financial condition of the Borrower Borrowers or any of its their respective Subsidiaries. Since the Balance Sheet Date, the neither Borrower has not made any Distributions.

No Material Changes, Etc. Since Except for the commencement of the Cases, since the Balance Sheet Date there has occurred no materially adverse change in the consolidated financial condition or business of the Borrower and its Subsidiaries as shown on or reflected in the consolidated balance sheet of the Borrower and its Subsidiaries as at the Balance Sheet Date, or the consolidated statement of income for the fiscal year then ended, other than changes in the ordinary course of business or contemplated herein that have not had any materially material adverse effect either individually or in the aggregate on the business or financial condition of the Borrower or any of its Subsidiaries, taken as a whole. Since the Balance Sheet Date, the Borrower has not made any DistributionsDistribution.

No Material Changes, Etc. Since the Balance Sheet Date there has occurred no materially adverse change in the financial condition or business of the Borrower and its Subsidiaries as shown on or reflected in the consolidated balance sheet of the Borrower and its Subsidiaries as at the Balance Sheet Date, or the consolidated statement of income for the fiscal year period then ended, other than changes in the ordinary course of business that have not had any materially adverse effect either individually or in the aggregate on the business or financial condition of the Borrower or any of its Subsidiaries. Since the Balance Sheet Date, the Borrower has not made any Distributions.

No Material Changes, Etc. Since Except as disclosed on Schedule 7.5 -------------------------- hereto, since the Balance Sheet Date there has occurred no materially adverse change in the financial condition or business of the Borrower and its Subsidiaries taken as a whole as shown on or reflected in the consolidated balance sheet sheets of the Borrower and its Subsidiaries and Vacation Break and its Subsidiaries as at the Balance Sheet Date, or the consolidated statement statements of income for the fiscal year period then ended, other than changes in the ordinary course of business that have not had any materially adverse effect either individually or in the aggregate on the business or financial condition of the Borrower or any of its SubsidiariesMaterial Adverse Effect. Since the Balance Sheet Date, the Borrower has not made any DistributionsDistribution.

No Material Changes, Etc. Since the Balance Sheet Date Date, there has occurred no materially adverse change in the financial condition or business of the any Borrower and or its Subsidiaries as shown on or reflected in the consolidated balance sheet of the Borrower Holdings and its Subsidiaries as at the Balance Sheet Date, or the consolidated statement statements of income and cash flow of Holdings and its Subsidiaries for the fiscal year period then ended, other than changes in the ordinary course of business that have not had any materially adverse effect either individually or in the aggregate on the business or financial condition of the Borrower Borrowers or any of its their respective Subsidiaries. Since the Balance Sheet Date, the no Borrower has not made any Distributions.