Common use of Recent Securities Transactions Clause in Contracts

Recent Securities Transactions. Since the end of the period covered by the latest audited financial statements included in the Registration Statement and the Prospectus, and except as disclosed in the Registration Statement and the Prospectus, (i) neither the Company nor any of its Subsidiaries has incurred any material liabilities or obligations, direct or contingent, or entered into any material transactions other than in the ordinary course of business, (ii) neither the Company nor any of its Subsidiaries has declared or paid any dividends or made any distribution of any kind with respect to its share capital, (iii) there has not been any change in the share capital of the Company or any of its Subsidiaries or any grants under any stock compensation plan and (iv) there has not been any Material Adverse Effect in the Company’s or any of its Subsidiaries’ long-term or short-term debt.