No Material Adverse Effect. Except as disclosed in the SEC Filings, since December 31, 2019, there has been no event or development that would reasonably be expected to have a Material Adverse Effect.

No Material Adverse Effect. Since the date of formation of the Seller, no event has occurred that could reasonably be expected to have a Material Adverse Effect.

No Material Adverse Effect. All historical financial statements relating to the Master Servicer or the Parent that have been delivered to Administrative Agent have been prepared in accordance with GAAP (except, in the case of unaudited financial statements, for the lack of footnotes and being subject to year-end audit adjustments) and present fairly in all material respects, the Master Servicer’s consolidated financial condition as of the date thereof and results of operations for the period then ended. Since December 31, 2020, no event, circumstance, or change has occurred that has or could reasonably be expected to result in a Material Adverse Effect.

No Material Adverse Effect. There shall not have occurred a Material Adverse Effect or any event or circumstance that would reasonably be expected to result in a Material Adverse Effect and the Administrative Agent shall have received a certificate of a Financial Officer of the Borrower to the foregoing effect.

No Material Adverse Effect. Subsequent to the respective dates as of which information is given in the Registration Statement and the Prospectus (including the SEC Reports), there has not been # any Material Adverse Effect or the occurrence of any development that the Company reasonably expects will result in a Material Adverse Effect, # any transaction which is material to the Company and the Subsidiaries taken as a whole, # any obligation or liability, direct or contingent (including any off-balance sheet obligations), incurred by the Company or any Subsidiary, which is material to the Company and the Subsidiaries taken as a whole, # any material change in the capital stock or outstanding long-term indebtedness of the Company or any of its Subsidiaries or # any dividend or distribution of any kind declared, paid or made on the capital stock of the Company or any Subsidiary, other than in each case above in the ordinary course of business or as otherwise disclosed on [Schedule 3.1(h)].

No Material Adverse Effect. Except as disclosed in filings with the Securities and Exchange Commission prior to the Closing Date (but excluding any statement therein that is a risk factor or cautionary, predictive or forward-looking in nature), as of the Closing Date there has been no Material Adverse Effect since September 30, 2019, and there exists no event, condition or state of facts that could reasonably be expected to result in a Material Adverse Effect.

No Material Adverse Effect. Since the date of the Audited Financial Statements, there shall have been no Material Adverse Effect.

No Material Adverse Effect. Since the end of the Company’s fiscal year ended December 31, 2020, there has been no Material Adverse Effect on the Company.

No Material Adverse Effect. Since the date of this Agreement, there shall not have occurred and be continuing any Material Adverse Effect of Seller.

No Material Adverse Effect. Since January 16, 2019, there shall have been no event, circumstance or change, either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect.