Common use of Organization, Good Standing and Corporate Power Clause in Contracts

Organization, Good Standing and Corporate Power. Buyer is a limited partnership duly organized, validly existing and in good standing under the laws of the State of Virginia and has the requisite limited partnership power to acquire, own and operate the Property.

Organization, Good Standing and Corporate Power. Buyer is a limited partnership corporation duly organized, validly existing and in good standing under the laws of the State Commonwealth of Virginia Virginia, and has the requisite limited partnership power and authority to acquire(i) enter into this Agreement and perform its obligations hereunder and (ii) own, own operate and operate the Propertylease its properties and carry on its business as now being conducted.