 When did the Closing Date of the PAC REIT occur?
As of the Closing Date, no condition or event shall have occurred since December 31, 2015, that has resulted in, or could reasonably be expected to result in, a material adverse change, in the reasonable judgment of the Administrative Agent, in or affecting the business, operations, property or condition (financial or otherwise) of the Borrower, of the PAC REIT, or of the PAC REIT and its Subsidiaries taken as a whole.
December 31, 2015