Common use of Authority of FWRLP Clause in Contracts

Authority of FWRLP. FWRLP is a limited partnership duly organized and existing and in good standing under the laws of the State of Maryland and will be qualified to do business in the State of Illinois by Closing. Subject to Section 8(a) (viii), FWRLP has all necessary power and authority to execute, deliver and perform this Agreement and consummate all of the transactions contemplated by this Agreement. Subject to Section 8(a) (viii), this Agreement is the valid and binding obligation of FWRLP, enforceable against it in accordance with its terms, except that such enforcement may be subject to bankruptcy, conservatorship, receivership, reorganization, insolvency, moratorium or similar laws or procedures relating to or affecting creditors' rights generally and to general principles of equity.