Common use of ORGANIZATION, STANDING AND POWER OF ERP OPERATING PARTNERSHIP Clause in Contracts

ORGANIZATION, STANDING AND POWER OF ERP OPERATING PARTNERSHIP. ERP Operating Partnership is a limited partnership duly organized and validly existing under the laws of Illinois and has the requisite power and authority to carry on its business as now being conducted. ERP Operating Partnership is duly qualified or licensed to do business and is in good standing in each jurisdiction in which the nature of its business or the ownership or leasing of its properties makes such qualification or licensing necessary, other than in such jurisdictions where the failure to be so qualified or licensed, individually or in the aggregate, would not have an EQR Material Adverse Effect. EQR has delivered to Wellsford complete and correct copies of its Fourth Amended and Restated Agreement of Limited Partnership as amended or supplemented to the date of this Agreement.

ORGANIZATION, STANDING AND POWER OF ERP OPERATING PARTNERSHIP. ERP Operating Partnership is a limited partnership duly organized and validly existing under the laws of Illinois and has the requisite power and authority to carry on its business as now being conducted. ERP Operating Partnership is duly qualified or licensed to do business and is in good standing in each jurisdiction in which the nature of its business or the ownership or leasing of its properties makes such qualification or licensing necessary, other than in such jurisdictions where the failure to be so qualified or licensed, individually or in the aggregate, would not have an a EQR Material Adverse Effect. EQR has delivered to Wellsford Lexford a complete and correct copies copy of its Fourth ERP Operating Partnership's Fifth Amended and Restated Agreement of Limited Partnership Partnership, as amended or supplemented to the date of this Agreement (the "ERP Operating Partnership Agreement").