Common use of No Adverse Developments Clause in Contracts

No Adverse Developments. Except as disclosed in Section 3.17 of the Cortelco Disclosure Schedule, (a) Cortelco has not experienced any Material Adverse Effect since the date of its most recent Cortelco Financial Statement, (b) Cortelco knows of no act, omission, event, development, condition, or circumstance that could reasonably be expected to have a Material Adverse Effect at any time after the date hereof, (c) no material Liability has been asserted against Cortelco and no material Encumbrance has been imposed upon any of its assets and properties since the date of its most recent Cortelco Financial Statement, and (d) Cortelco knows of no act, omission, event, development, condition, or circumstance that could reasonably be expected to result in the assertion of any material Liability against Cortelco or the imposition of any material Encumbrance upon any of its assets and properties after the date hereof.