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(iv) to the best of its knowledge, violate any provision of any law presently in effect; or (v) constitute a breach or default under, or permit the acceleration of obligations owed under, any contract, loan agreement, lease or other agreement or document to which Grantee is a party or by which Grantee or any of its property is bound. (c) Grantee is not in default, in any respect that is materially adverse to the interests of City under this Agreement or that would have any material adverse effect on the financial condition of Grantee or the conduct of its business, under any law, contract, lease or other agreement or document described in sub-paragraph(iii) or(v) of sub-paragraph(b) of this Section 7.2. (d) Except for the permitting for the Project contemplated to be subsequently obtained under this Agreement, no approval, license, exemption or other authorization from, or filing, registration or qualification with, any Governmental Authority is required which has not been previously obtained in connection with the execution by Grantee of, and the performance by Grantee of its obligations under, this Agreement. 7.3 Financial and Other Information. To the best of Grantee's knowledge, all financial information furnished to City by the Grantee or any affiliate thereof with respect to Grantee in connection with the Grant (a) is complete and correct in all material respects as of the date of preparation thereof, (b) accurately presents the financial condition of Grantee, and (c)has been prepared in accordance with generally accepted accounting principles consistently applied or in accordance with such other principles or methods as are reasonably acceptable to City. To the best of Grantee's knowledge, all other documents and information furnished to City by the Grantee or any affiliate thereof with respect to Grantee, in connection with the Grant, are correct and complete insofar as completeness is necessary to give the City accurate knowledge of the subject matter. To the best of Grantee's knowledge Grantee has no material liability or contingent liability not disclosed to City in writing and there is no material lien, claim, charge or other right of others of any kinds (including liens or retained security titles of conditional vendors)on any property of Grantee not disclosed in such financial statements or otherwise disclosed to City in writing. 7.4 No Material Adverse Change. There has been no material adverse change in the condition, financial or otherwise, of Grantee since the dates of the latest financial statements furnished to City, except for Senior Loan Documents that have been disclosed to the City. Since those dates, Grantee has not entered into any material transaction not disclosed in such financial statements or otherwise disclosed to City in writing. 7.5 Tax Liability. Grantee has filed all required federal, state and local tax returns and has paid all taxes (including interest and penalties, but subject to lawful extensions disclosed to City in writing) other than taxes being promptly and actively contested in good faith and by appropriate proceedings. Grantee is maintaining adequate reserves for tax liabilities (including contested liabilities) in accordance with generally accepted accounting principles or in accordance with such other principles or methods as are reasonably acceptable to City.