Each Credit Party and its Subsidiaries is in compliance with (a) the rules and regulations as provided in Section 6.15 and (b) except such non‑compliance with such other Applicable Laws that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, all other Applicable Laws. Each Credit Party and each Subsidiary of any Credit Party possesses all certificates, authorities or permits issued by appropriate Governmental Authorities necessary to conduct the business now operated by it, except for those certificates, authorities or permits the failure of which to possess could not reasonably be expected to have a Material Adverse Effect. No Credit Party nor any Subsidiary of any Credit Party has received any notice of proceedings relating to the revocation or modification of any such certificate, authority or permit the failure of which to have or retain could reasonably be expected to have a Material Adverse Effect.