Common use of Partnership Existence Clause in Contracts

Partnership Existence. Guarantor is a limited partnership duly formed, validly existing and in good standing under the laws of the State of Delaware, has the partnership power and authority to own its assets and to transact the business in which it is now engaged and is in good standing under the laws of each jurisdiction where its ownership or lease of property or the conduct of its business requires such qualification, except for failures to be so qualified, authorized or licensed that could not in the aggregate have a material adverse effect on the business operations, assets or financial condition of Guarantor and its Subsidiaries, taken as a whole.

Partnership Existence. Guarantor is a limited partnership duly formed, validly existing and in good standing under the laws of the State of Delaware, has the all requisite partnership power and authority to own its assets and to transact the business in which it is now engaged and is in good standing under the laws of each jurisdiction where its ownership or lease of property or the conduct of its business requires such qualification, except for failures to be so qualified, authorized or licensed that could not in the aggregate have a material adverse effect on the business operations, assets or financial condition of Guarantor and its Subsidiaries, taken as a whole.

Partnership Existence. Guarantor is a limited partnership duly formed, validly existing and in good standing under the laws of the State of Delaware, has the all requisite partnership power and authority to own its assets and to transact the business in which it is now engaged and is in 8 299 good standing under the laws of each jurisdiction where its ownership or lease of property or the conduct of its business requires such qualification, except for failures to be so qualified, authorized or licensed that could not in the aggregate have a material adverse effect on the business operations, assets or financial condition of Guarantor and its Subsidiaries, taken as a whole.