No Material Adverse Change. Since the date of the Borrower’s most recent financial statements contained in its Annual Report on Form 10-K for the fiscal year ended ​, there has been no material adverse change in, and there has occurred no event or condition which is likely to result in a material adverse change in, the financial condition, results of operations, business, assets or operations of the Borrower and the Subsidiaries taken as a whole (it being understood that the consummation of an Asset Exchange shall not constitute such a material adverse change).

SECTION # No Material Adverse Change. Since the date of the Borrower’s most recent financial statements contained in its Annual Report on Form 10-K for the fiscal year ended ​, there has been no material adverse change in, and there has occurred no event or condition which is likely to result in a material adverse change in, the financial condition, results of operations, business, assets or operations of the Borrower and the Subsidiaries taken as a whole (it being understood that the consummation of an Asset Exchange shall not constitute such a material adverse change).

Section # No Material Adverse Change. Since the date of the Borrower’s most recent financial statements contained in its Annual Report on Form 10-K for the fiscal year ended ​, there has been no material adverse change in, and there has occurred no event or condition which is likely to result in a material adverse change in, the financial condition, results of operations, business, assetsbusiness or operations of the Borrower and theits Subsidiaries taken as a whole (it being understood thatwhole, except for changes none of which, individually or in the consummation of an Asset Exchange shall not constitute suchaggregate, has had or could reasonably be expected to have, a material adverse change).Material Adverse Effect.

SECTION # No Material Adverse Change. Since the date of the Borrower’s most recent financial statements contained in its Annual Report on Form 10-K for the fiscal year ended ​, there has been no material adverse change in, and there has occurred no eventin the properties, business, operations or condition which is likely to result in a material adverse change in, the financial condition, results of operations, business, assets or operationscondition of the Borrower and its Subsidiaries and no event has occurred or condition arisen, either individually or in the Subsidiaries taken asaggregate, that could reasonably be expected to have a whole (it being understood that the consummation of an Asset Exchange shall not constitute such a material adverse change).Material Adverse Effect.

No Material Adverse Change. Since the date of the Borrower’s most recent financial statements contained in its Annual Report on Form 10-K for the fiscal year ended ​, there has been no material adverse change in, and there hasThere shall not have occurred no event or condition which is likely to result in a material adverse change in,since ​ in the business, operations, property or financial condition, results of operations, business, assets or operationscondition of the Parent Borrower and the Subsidiariesits Subsidiaries, taken as a whole (it being understood that the consummation of an Asset Exchange shall not constitute such a material adverse change).whole.

There has been no material adverse change in, and there has occurred no eventin the business, assets, operations, performance or condition which is likely to result in a material adverse change in, thecondition, financial condition, results of operations, business, assets or operationsotherwise, of the Borrower and the Subsidiariesits subsidiaries taken as a whole (it being understood thatwhole, since the consummationlast day of an Asset Exchange shall not constitute such a material adverse change).the most recently audited financial year of the Borrower.

5.5Material Adverse Change. Since the date of the Borrower’s most recent financial statements contained in its Annual Report on Form 10-K for the fiscal year ended ​, there has been no material adverse change in, and there has occurred no eventin the business, Property, condition (financial or condition which is likely to result in a material adverse change in, the financial condition,otherwise) or results of operations, business, assets or operations of the Borrower and theits Subsidiaries taken aswhich could reasonably be expected to have a whole (it being understood that the consummation of an Asset Exchange shall not constitute such a material adverse change).Material Adverse Effect.

SECTION #16No Material Adverse Change. Since the date of the Borrower’s most recent financial statements contained in its Annual Report on Form 10-K for the fiscal year ended ​, there has been no material adverse change in, and there has occurred no event or condition which is likely to result in a material adverse change in, the financial condition, results of operations, business, assetsassets, properties, liabilities (actual or operationscontingent) or financial condition of the Borrower and its Subsidiaries and no event has occurred or condition arisen, either individually or in the Subsidiaries taken asaggregate, that could reasonably be expected to have a whole (it being understood that the consummation of an Asset Exchange shall not constitute such a material adverse change).Material Adverse Effect.

Section # Material Adverse Change. Since the date of the Borrower’s most recent financial statements contained in its Annual Report on Form 10-K for the fiscal year ended ​, there has been no material adverse change in, and there has occurred no eventin the business, Property, financial condition or condition which is likely to result in a material adverse change in, the financial condition, results of operations, business, assets or operations of the Borrower and theits Subsidiaries taken aswhich could reasonably be expected to have a whole (it being understood that the consummation of an Asset Exchange shall not constitute such a material adverse change).Material Adverse Effect.

Material Adverse Change. Since the date of the Borrower’s most recent financial statements contained in its Annual Report on Form 10-K for the fiscal year ended ​, there has been no material adverse change in,in the business, condition (financial or otherwise), operations, performance or Properties of ​ and thereits Subsidiaries, as reflected in the audited annual consolidated financial statements of ​ and its Subsidiaries for the fiscal year ended on such date described in [Section 6.4], which has occurred no eventhad or condition which is likelycould reasonably be expected to result inhave a material adverse change in, the financial condition, results of operations, business, assets or operations of the Borrower and the Subsidiaries taken as a whole (it being understood that the consummation of an Asset Exchange shall not constitute such a material adverse change).Material Adverse Effect.