No Material Undisclosed Liabilities. Neither the Company nor ----------------------------------- any of its subsidiaries has any debts, liabilities or obligations of any nature (whether accrued, absolute, contingent or otherwise) that would be required to be reflected on, or disclosed or reserved against in, a consolidated balance sheet of the Company and its subsidiaries or in the notes thereto, prepared in accordance with GAAP consistently applied, except for (a) debts, liabilities and obligations that were so reserved on, or disclosed or reflected in, the consolidated balance sheet of the Company and its subsidiaries as of December 31, 1996 and the notes thereto, included in the Report on Form 6-K of the Company for the quarter then ended, or the consolidated balance sheet of the Company and its subsidiaries as of June 30, 1996 and the notes thereto, included in the Annual Report on Form 20-F of the Company for the year then ended and (b) debts, liabilities or obligations arising in the ordinary course of business since September 30, 1996.
Appears in 3 contracts
Sources: Acquisition Agreement (Renaissance Hotel Group N V), Acquisition Agreement (Marriott International Inc), Acquisition Agreement (Marriott International Inc)