There is no litigation, arbitration, governmental investigation, proceeding or inquiry pending or, to the knowledge of any Senior Officer, threatened in writing against or affecting the Borrower or any Guarantor which would reasonably be expected to have a Material Adverse Effect or which seeks to prevent, enjoin or delay the making of any Credit Extensions. As of the Effective Date, the Borrower has no material Contingent Obligations not provided for or disclosed in the financial statements referred to in ‎Section 5.4, except as would not reasonably be expected to have a Material Adverse Effect.