Common use of Organization and Good Standing of Buyer Clause in Contracts

Organization and Good Standing of Buyer. Buyer is a limited partnership validly existing and in good standing under the laws of the State of Delaware and is qualified to transact business and is in good standing as a foreign entity in the jurisdictions where it is required to qualify in order to conduct its business as presently conducted, except where the failure to be so qualified would not have a material adverse effect on Buyer.

Organization and Good Standing of Buyer. Buyer is a limited partnership liability company and is duly formed, validly existing and in good standing under the laws Laws of the State of Delaware and is qualified to transact business and is in good standing as a foreign entity in the all other jurisdictions where it is required to qualify in order to conduct its business as presently conducted, except where the failure requires it to be so qualified would not have a material adverse effect on Buyerqualified.