Leases. In each case except as could not reasonably be expected to have a Material Adverse Effect, each Loan Party and its Subsidiaries enjoy peaceful and undisturbed possession under all leases material to their business and to which they are parties or under which they are operating, and, subject to Permitted Protests, all of such material leases are valid and subsisting and no material default by the applicable Loan Party or its Subsidiaries exists under any of them.

Leases. In each case except as could not reasonably be expected to have a Material Adverse Effect, eachEach Loan Party and its Subsidiaries enjoy peaceful and undisturbed possession under all leases material to their business and to which they are parties or under which they are operating, and, subject to Permitted Protests, all of such material leases are valid and subsisting and no material default by the applicable Loan Party or its Subsidiaries exists under any of them.

Leases. In each case except as could not reasonably be expected to have a Material Adverse Effect, eachEach Loan Party and its Subsidiaries enjoy peaceful and undisturbed possession under all leases material to their business and to which they are parties or under which they are operating, and, subject to Permitted Protests, all of such material leases are valid and subsisting and no material default by the applicable Loan Party or its Subsidiaries exists under any of them.

Each of the Borrower and the Principal Subsidiaries has complied with all obligations under all material leases to which it is a party and all such leases are in full force and effect, except as couldwhere such failure to comply or maintain such leases in full force and effect would not reasonably be expected to have a Material Adverse Effect, each Loan PartyEffect. Each of the Borrower and itsthe Subsidiaries enjoyenjoys peaceful and undisturbed possession under all leases material to their business and to which they are parties or under which they are operating, and, subject to Permitted Protests, all of such material leases are valid and subsisting and no material default by the applicable Loan Party or its Subsidiaries exists under any of them.except where such failure would not have a Material Adverse Effect.

The Borrower and the Subsidiaries have complied with all obligations under all leases to which it is a party, except aswhere the failure to comply would not have a Material Adverse Effect, and all such leases are in full force and effect, except leases in respect of which the failure to be in full force and effect could not reasonably be expected to have a Material Adverse Effect, each Loan PartyEffect. The Borrower and itsthe Subsidiaries enjoy peaceful and undisturbed possession under all such leases, other than leases materialin respect of which the failure to their businessenjoy peaceful and undisturbed possession could not reasonably be expected to which they are partieshave, individually or under which they are operating, and, subject to Permitted Protests, all of such material leases are valid and subsisting and no material default byin the applicable Loan Party or its Subsidiaries exists under any of them.aggregate, a Material Adverse Effect.

Each of the Borrower and its Subsidiaries has complied with all obligations under all material leases with respect to real property to which it is a party, all such leases are in full force and effect and the Borrower or such Subsidiary enjoys peaceful and undisturbed possession under all such leases, in each case except asto the extent any failure of any of the foregoing could notnot, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, each Loan Party and its Subsidiaries enjoy peaceful and undisturbed possession under all leases material to their business and to which they are parties or under which they are operating, and, subject to Permitted Protests, all of such material leases are valid and subsisting and no material default by the applicable Loan Party or its Subsidiaries exists under any of them.Effect.

Each of the Loan Parties and its Subsidiaries has good title to, or valid leasehold interests in, or rights to use, all its real and personal property, subject to Permitted Liens and except asfor defects in title, interests or rights that, individually or in the aggregate, could not reasonably be expected to haveresult in a Material Adverse Effect, each Loan Party and its Subsidiaries enjoy peaceful and undisturbed possession under all leases material to their business and to which they are parties or under which they are operating, and, subject to Permitted Protests, all of such material leases are valid and subsisting and no material default by the applicable Loan Party or its Subsidiaries exists under any of them.Effect.