3 unchanged sentences
Based upon that evaluation, our Managing Trustees, our President and Chief Operating Officer and our Chief Financial Officer and Treasurer concluded that our disclosure controls and procedures are effective.
−Removed: There have been no changes in our internal control over financial reporting during the quarter ended June 30, 2024 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
+Added: There have been no changes in our internal control over financial reporting during the quarter ended September 30, 2024 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Warning Concerning Forward-Looking Statements
2 unchanged sentences
These forward-looking statements include, among others, statements about:
−Removed: our leverage levels and possible future financings;
+Added: our ability to continue as a going concern;
+Added: our actions to address our near term capital needs and possible financing options;
+Added: our leverage levels;
demand for office space;
9 unchanged sentences
Some of the risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, the following:
+Added: • Our ability to successfully take actions to address the current substantial doubt as to our ability to continue as a going concern,
• Our ability to make required payments on our debt or refinance our debts as they mature or otherwise become due,
2 unchanged sentences
• Our ability to effectively raise and balance our use of debt and equity capital,
+Added: • The possibility that we may reorganize through bankruptcy if we are unable to satisfy the 2025 Notes prior to their maturity,
• Whether our tenants will renew or extend their leases and not exercise early termination options pursuant to their leases or that we will obtain replacement tenants on terms as favorable to us as our prior leases,
4 unchanged sentences
• The likelihood that our tenants will pay rent or be negatively impacted by continuing unfavorable market and commercial real estate industry conditions or government budget constraints,
+Added: • Our ability to sell properties at prices we target,
• Our ability to manage our capital expenditures and other operating costs effectively and to maintain and enhance our properties and their appeal to tenants,
• The financial strength of our tenants,
−Removed: • Our ability to sell properties at prices we target,
• Our tenant and geographic concentration,
• Risks and uncertainties regarding the costs and timing of development, redevelopment and repositioning activities, including as a result of prolonged high inflation, cost overruns, supply chain challenges, labor shortages, construction delays or inability to obtain necessary permits or volatility in the commercial real estate markets,
−Removed: • Our ability to acquire properties that realize our targeted returns,
• Our credit ratings,
• Our ability to pay distributions to our shareholders and to maintain or increase the amount of such distributions,
+Added: • Our ability to acquire properties that realize our targeted returns,
• The ability of our manager, RMR, to successfully manage us,
16 unchanged sentences
Other Information
−Removed: There have been no material changes to the risk factors from those previously disclosed in our 2023 Annual Report.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.