Other Obligations and Liabilities. Borrower has no liabilities or other obligations that arose or accrued prior to the date hereof that, either individually or in the aggregate, could have a Material Adverse Effect. Borrower has no known contingent liabilities (other than the ongoing litigation relating to 421-g Tax Benefits at the Property, which, if adversely decided, would not have a Material Adverse Effect).
Appears in 2 contracts
Samples: Loan Agreement (Clipper Realty Inc.), Loan Agreement (Clipper Realty Inc.)
Other Obligations and Liabilities. Neither Borrower nor Mortgage Borrower has no any liabilities or other obligations that arose or accrued prior to the date hereof that, either individually or in the aggregate, could have a Material Adverse Effect. Neither Borrower nor Mortgage Borrower has no any known contingent liabilities (other than than, with respect to Mortgage Borrower, the ongoing litigation relating to 421-g Tax Benefits at the Property, which, if adversely decided, would not have a Material Adverse Effect).
Appears in 1 contract
Samples: First Mezzanine Loan Agreement (Clipper Realty Inc.)
Other Obligations and Liabilities. Neither Borrower nor Mortgage Borrower has no liabilities or other obligations that arose or accrued prior to the date hereof that, either individually or in the aggregate, could have a Material Adverse Effect. Neither Borrower nor Mortgage Borrower has no any known contingent liabilities (other than the ongoing litigation relating to 421-g Tax Benefits at the Property, which, if adversely decided, would not have a Material Adverse Effect).
Appears in 1 contract
Samples: First Mezzanine Loan Agreement (Clipper Realty Inc.)