(a) As of the Closing 2018 Refinancing Amendment Effective Date, neither the no Loan Parties nor any of their Subsidiaries Party owns any Real Property with a value in excess of $5,000,000 . Each Loan Party and each of its Restricted Subsidiaries has a valid leasehold interest in, all real property necessary or used in the ordinary conduct of its business, except as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.