Common use of Real Estate Leases Clause in Contracts

Real Estate Leases. Except as terminated or expired in accordance with its terms, (a) each of the leases and subleases of real or personal property held by any Loan Party as lessee or sublessee (other than leases of personal property as to which any Loan Party is lessee or sublessee for which the value of such personal property in the aggregate is less than $5,000,000) is valid and enforceable in accordance with its terms against the Loan Party thereof which is a party thereto and is in full force and effect, and to the best of each Loan Party’s knowledge, no default by any party to any such lease or sublease exists; and (b) each of the leases and subleases of real or personal property held by any Loan Party as lessor, or sublessor is valid and enforceable in accordance with its terms against the Loan Party thereof which is a party thereto and is in full force and effect, and to the best of each Loan Party’s knowledge, no default by any party to any such lease or sublease exists, except in the case of clauses (a) and (b), where such default or non-enforceability could not reasonably be expected to (i) have a Material Adverse Effect or (ii) affect the Agent’s access to any Collateral. Each Loan Party has good and indefeasible title in fee simple to the Real Estate as owned by such Loan Party, or valid leasehold interests in all Real Estate leased by such Loan Party and each Loan Party has good and indefeasible title to all of its other property reflected on the June 30, 2011 Financial Statements delivered to the Agent and the Lenders, except as disposed of in compliance with Section 7.9 and except where failure to have such title could not reasonably be expected to (i) have a Material Adverse Effect or (ii) affect the Agent’s access to any Collateral, free of all Liens except Permitted Liens.

Real Estate Leases. Except as terminated or expired in accordance with its terms, (a) each of the leases and subleases of real or personal property held by any Loan Party as lessee or sublessee (other than leases of personal property as to which any Loan Party is lessee or sublessee for which the value of such personal property in the aggregate is less than $5,000,000) is valid and enforceable in accordance with its terms against the Loan Party thereof which is a party thereto and is in full force and effect, and to the best of each Loan Party’s knowledge, no default by any party to any such lease or sublease exists; and (b) each of the leases and subleases of real or personal property held by any Loan Party as lessor, or sublessor is valid and enforceable in accordance with its terms against the Loan Party thereof which is a party thereto and is in full force and effect, and to the best of each Loan Party’s knowledge, no default by any party to any such lease or sublease exists, except in the case of clauses (a) and (b), where such default or non-enforceability could not reasonably be expected to (i) have a Material Adverse Effect or (ii) affect the Agent’s access to any Collateral. Each Loan Party has good and indefeasible title in fee simple to the Real Estate as owned by such Loan Party, or valid leasehold interests in all Real Estate leased by such Loan Party and each Loan Party has good and indefeasible title to all of its other property reflected on the June 30March 31, 2011 2014 Financial Statements delivered to the Agent and the Lenders, except as disposed of in compliance with Section 7.9 and except where failure to have such title could not reasonably be expected to (i) have a Material Adverse Effect or (ii) affect the Agent’s access to any Collateral, free of all Liens except Permitted Liens.

Real Estate Leases. Except SCHEDULE 6.11 sets forth, as terminated or expired in accordance with its terms, (a) each of the Closing Date, a correct and complete list of all Real Estate owned by any Loan Party and all Real Estate owned by any of their Subsidiaries that is a Loan Party, all leases and subleases of real or personal property held by any Loan Party as lessee or sublessee (other than leases of personal property as to which any Loan Party is lessee or sublessee for which the value of such personal property in the aggregate is less than $5,000,000) 1,000,000), and all leases and subleases of real or personal property held by any Loan Party as lessor, or sublessor. Each of such leases and subleases is valid and enforceable in accordance with its terms against the Loan Party or Subsidiary thereof which is a party thereto and is in full force and effect, and to the best of each Loan Party’s 's knowledge, no default by any party to any such lease or sublease exists; and (b) each of the leases and subleases of real or personal property held by any Loan Party as lessor, or sublessor is valid and enforceable in accordance with its terms against the Loan Party thereof which is a party thereto and is in full force and effect, and to the best of each Loan Party’s knowledge, no default by any party to any such lease or sublease exists, except in the case of clauses (a) and (b), where such default or non-enforceability could not reasonably be expected to (i) have a Material Adverse Effect or (ii) affect the Agent’s access to any Collateral. Each Loan Party has good and indefeasible title in fee simple to the Real Estate identified on SCHEDULE 6.11 as owned by such Loan Party, or valid leasehold interests in all Real Estate leased designated therein as "leased" by such Loan Party and each Loan Party has good and indefeasible title to all of its other property reflected on the June 30May 31, 2011 2003 Financial Statements delivered to the Agent and the Lenders, except as disposed of in compliance with Section 7.9 and except where failure to have such title could not reasonably be expected to (i) have a Material Adverse Effect or (ii) affect the Agent’s access to any Collateralordinary course of business since the date thereof, free of all Liens except Permitted Liens.

Real Estate Leases. Except as terminated or expired in accordance with its terms, (a) each of the leases and subleases of real or personal property held by any Loan Party as lessee or sublessee (other than leases of personal property as to which any Loan Party is lessee or sublessee for which the value of such personal property in the aggregate is less than $5,000,0001,000,000) is valid and enforceable in accordance with its terms against the Loan Party thereof which is a party thereto and is in full force and effect, and to the best of each Loan Party’s knowledge, no default by any party to any such lease or sublease exists; and (b) each of the leases and subleases of real or personal property held by any Loan Party as lessor, or sublessor is valid and enforceable in accordance with its terms against the Loan Party thereof which is a party thereto and is in full force and effect, and to the best of each Loan Party’s knowledge, no default by any party to any such lease or sublease exists, except in the case of clauses (a) and (b), where such default or non-enforceability could not reasonably be expected to (i) have a Material Adverse Effect or (ii) affect the Agent’s access to any Collateral. Each Loan Party has good and indefeasible title in fee simple to the Real Estate as owned by such Loan Party, or valid leasehold interests in all Real Estate leased by such Loan Party and each Loan Party has good and indefeasible title to all of its other property reflected on the June 30May 31, 2011 2008 Financial Statements delivered to the Agent and the Lenders, except as disposed of in compliance with Section 7.9 and except where failure to have such title could not reasonably be expected to (i) have a Material Adverse Effect or (ii) affect the Agent’s access to any Collateral, free of all Liens except Permitted Liens.