The Borrowers have heretofore furnished to the Bank the corporate tax returns for years 2015 through 2017, and management-prepared financial statements for the ten month period ending October 31, 2018. The financial statements of Borrowers fairly present in all material respects the financial position of each Borrower and its consolidated subsidiaries as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments. There are no obligations or liabilities, contingent or otherwise, of either Borrower which are not reflected on such financial statements that are material in nature other than obligations incurred in the ordinary course of business since the date of such financial statements.