Common use of EVENTS SINCE THE ACCOUNTS DATE Clause in Contracts

EVENTS SINCE THE ACCOUNTS DATE. Save in each case for any matter consented to by Seadrill or NADL for the purposes of Clause 8, since the Accounts Date: (A) there has been no material adverse change in the financial or trading position or prospects of any member of the Sale Group and so far as Rosneft is aware no circumstance has arisen which will give rise to any such change; (B) the business of each member of the Sale Group has been carried on in the ordinary and usual course and in the same manner (including nature and scope) as in the past in all material respects; (C) no resolution in general meeting or written resolution of shareholders of any member of the Sale Group has been passed; (D) no change in the accounting reference period of any member of the Sale Group has been made; (E) save for the Orenburg Acquisition, no member of the Sale Group has acquired or disposed of or agreed to acquire or dispose of any business or any material asset other than in the ordinary course of business and no contract involving material expenditure by it on capital account has been entered into by any member of the Sale Group; and (F) no material debtor has been released by any member of the Sale Group on terms that he pays materially less than the book value of any debt and no material debt has been written off or has proved to be irrecoverable to any extent.