Common use of No Important Changes Clause in Contracts

No Important Changes. Since the execution of this Agreement, (i) in the judgment of the Representative, since the respective date hereof or the respective dates of which information is given in the Registration Statement, the General Disclosure Package or the Prospectus, there shall not have occurred any Material Adverse Effect, and (ii) there shall not have been any decrease in or withdrawal of the rating of any debt securities or preferred securities of the Company or any of its subsidiaries by any “nationally recognized statistical rating organization” (as defined for purposes of Section 3(a)(62) of the 1▇▇▇ ▇▇▇) or any notice given of any intended or potential decrease in or withdrawal of any such rating or of a possible change in any such rating that does not indicate the direction of the possible change.

No Important Changes. Since the execution earlier of (x) the date of this Agreement, or (iy) in the judgment of the Representative, since the respective date hereof or the respective dates of which information is given in the Registration StatementStatements, the General Disclosure Package or the Prospectus, (i) there shall not have occurred any Material Adverse Effect, and (ii) there shall not have been any decrease in downgrade or withdrawal of the rating of any debt securities or preferred securities of the Company or any of its subsidiaries by any “nationally recognized statistical rating organization” (as defined for purposes of Section 3(a)(62) of the 1▇▇▇▇ ▇▇▇) or any notice given of any intended or potential decrease in downgrade or withdrawal of any such rating or of a possible change in any such rating that does not indicate the direction of the possible change.

No Important Changes. Since the execution earlier of (x) the date of this Agreement, or (iy) in the judgment of the Representative, since the respective date hereof or the respective dates of which information is given in the Registration Statement, the General Disclosure Package or the Prospectus, (i) there shall not have occurred any Material Adverse Effect, and (ii) there shall not have been any decrease in downgrade or withdrawal of the rating of any debt securities or preferred securities of the Company or any of its subsidiaries by any “nationally recognized statistical rating organization” (as defined for purposes of Section 3(a)(62) of the 1▇▇▇ ▇▇▇) or any notice given of any intended or potential decrease in downgrade or withdrawal of any such rating or of a possible change in any such rating that does not indicate the direction of the possible change.

No Important Changes. Since the execution earlier of (x) the date of this Agreement, or (iy) in the judgment of the Representative, since the respective date hereof or the respective dates of which information is given in the Registration Statement, the General Disclosure Package or the Prospectus, (i) there shall not have occurred any Material Adverse Effect, and (ii) there shall not have been any decrease in downgrade or withdrawal of the rating of any debt securities or preferred securities of the Company or any of its subsidiaries by any “nationally recognized statistical rating organization” (as defined for purposes of Section 3(a)(62) of the 1▇▇▇▇ ▇▇▇) or any notice given of any intended or potential decrease in downgrade or withdrawal of any such rating or of a possible change in any such rating that does not indicate the direction of the possible change.

No Important Changes. Since the execution of this Agreement, (i) in the judgment of the RepresentativeRepresentatives, since the respective date hereof or the respective dates of which information is given in the Registration Statement, the General Disclosure Package or the Prospectus, there shall not have occurred any Material Adverse Effect, and (ii) there shall not have been any decrease in or withdrawal of the rating of any debt securities or preferred securities of the Company or any of its subsidiaries by any “nationally recognized statistical rating organization” (as defined for purposes of Section 3(a)(62) of the 1▇▇▇ ▇▇▇) or any notice given of any intended or potential decrease in or withdrawal of any such rating or of a possible change in any such rating that does not indicate the direction of the possible change.