Common use of Changes in the Project Clause in Contracts

Changes in the Project. Since December 31, 2004, except as otherwise set forth in Schedule 3.13: (i) there has not occurred any development or event that has caused or would reasonably be expected to cause a material adverse change in the physical condition or operating capability of the Purchased Assets, taken as a whole; (ii) there has been no sale, lease, transfer, Encumbrance or disposition of assets used in the operation of the Project with an aggregate book value of more than $50,000, other than the use of supplies in the ordinary course of business and other than the distribution of cash to Mill Owner; (iii) there has been no capital expenditures or commitments in respect thereto in excess of $50,000; and (iv) Seller has not entered into any agreement with respect to any of the foregoing.