Common use of No Other Liabilities; No Material Adverse Changes Clause in Contracts

No Other Liabilities; No Material Adverse Changes. Borrower and its Subsidiaries do not have any material liability or material contingent liability required under GAAP to be reflected or disclosed and not reflected or disclosed in the most recent financial statements filed by Borrower with the Commission, other than liabilities and contingent liabilities arising in the ordinary course of business since the date of such financial statements.