No Material Adverse. No Material Adverse Effect shall have occurred from the Statement Date on or prior to the Closing.
No Material Adverse. Effect Since the date of its most recent audited financial statements provided to the Agent, there has been no event or circumstance that has had or could reasonably be expected to have a Material Adverse Effect.
No Material Adverse. Effect Since the date of the Borrowers’ most recent financial statements provided to the Agent, there has been no condition (financial or otherwise), event or change in its business, liabilities, operations, results of operations, assets or prospects which would reasonably be expected to have a Material Adverse Effect nor, to the Borrowers’ knowledge, has there been any condition, event or change to the credit rating of Shell Energy or any material LDC which would reasonably be expected to have a Material Adverse Effect.
No Material Adverse. Change There shall have been no material -------------------------- adverse change or development in the Company's business.
No Material Adverse. Changes Since the date of the most recent Financial Statements, there has been no change materially adverse to Seller in its Assets, financial condition, gross profit, operating results, customer, employee or supplier relations, business condition or prospects, except as otherwise disclosed on Exhibit 3.23 hereto.
No Material Adverse. Effect relating to the Borrower and its Subsidiaries has occurred since the Closing Date or the date of any financial statements of the Borrower submitted subsequent to the Closing Date. Each Borrowing Notice with respect to each such Advance shall constitute a representation and warranty by the Borrower that the conditions contained in Sections 4.2(i) and (ii) have been satisfied.
No Material Adverse change As of the date of this Agreement, no event, change or condition has occurred since 30 June 2008 that has had, or would reasonably be expected to have, a Material Adverse Effect.
No Material Adverse. No event will have occurred since the date of this Agreement that has had a material adverse effect on the business, operations, assets, properties, prospects or conditions of Worldbid taken as a whole.
No Material Adverse. CHANGE Since the date of its Original Financial Statements or, if later, the date as at which its most recent audited financial statements (consolidated in the case of USPE) were stated to be prepared, there has been no material adverse change in its business, operations, property, financial condition, performance or prospects or, in the case of USPE the Group taken as a whole.
No Material Adverse. Effect has occurred and ---------------- there shall exist no action, suit, investigation, litigation or proceeding pending or threatened in any court or before any arbitrator or Governmental Authority that could reasonably be expected to result in a Material Adverse Effect.
