Except as expressly disclosed in a writing by the Presidential Parties to the FC Parties dated prior to, and received by the FC Parties prior to, the date hereof, all licenses, permits or other governmental approvals (including without limitation, all Approvals and Entitlements) required to be obtained by the Presidential Parties in connection with the permitting, approval, construction, use, occupancy, management, leasing and operation of any real property owned by the Presidential Parties has been obtained and are in full force and effect and in good standing, and all Approvals and Entitlements are fully vested and not subject to divestiture.