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

No Other Liabilities; No Material Adverse Effect. Borrower and its Consolidated Subsidiaries do not have any material liability or material contingent liability required by GAAP to be reflected or disclosed in the financial statements or in the notes to the financial statements described in Section 4.5, other than as reflected or disclosed and liabilities and contingent liabilities arising in the ordinary course of business subsequent to November 30, 2005. From November 30, 2005 to the Closing Date, no event or circumstance has occurred that constitutes a Material Adverse Effect with respect to Borrower and its Subsidiaries.

No Other Liabilities; No Material Adverse Effect. Borrower and its Consolidated Subsidiaries do not have any material liability or material contingent liability required by GAAP to be reflected or disclosed in the financial statements or in the notes to the financial statements described in Section 4.5, other than as reflected or disclosed and liabilities and contingent liabilities arising in the ordinary course of business subsequent to November 30, 20052004. From November 30, 2005 2004 to the Closing Date, no event or circumstance has occurred that constitutes a Material Adverse Effect with respect to Borrower and its Subsidiaries.