Common use of RECENT ADVERSE CHANGES Clause in Contracts

RECENT ADVERSE CHANGES. Between the date of the Current Audited Financial Statements and Closing, neither Borrower nor any Consolidated Subsidiary has, to the extent it would have a Material Adverse Effect: (i) suffered any damage, destruction or loss, (ii) incurred any material obligations or liabilities, whether accrued, absolute, contingent or otherwise, (iii) discharged or satisfied any material lien or encumbrance of any kind or (iv) suffered any other materially adverse event or condition of any character.