Common use of Ownership of Real Property Clause in Contracts

Ownership of Real Property. Except as would not, individually or in the aggregage, reasonably be expected to have a Material Adverse Effect, each Credit Party has good, recordable and marketable title, in the case of Real Property (other than Leaseholds), and good title (or valid Leaseholds, in the case of any leased or subleased property), in the case of all other property, to all of its properties and assets necessary in the ordinary conduct of its business, free and clear of Liens other than Permitted Liens. The properties (and interests in properties) owned by the Credit Parties, taken as a whole, are sufficient, in the judgment of the Credit Parties, for conducting the businesses of the Credit Parties and their Restricted Subsidiaries. Schedule 5.12 sets forth all Real Property owned by the Parent Borrower or any of its Restricted Subsidiaries as of the Third Amendment Effective Date, showing, as of the Third Amendment Effective Date, the street address, county or other relevant jurisdiction, state, record owner and estimated fair value thereof.