Common use of Partnership Existence Clause in Contracts

Partnership Existence. Each of the Partnerships: (a) is a general partnership, limited partnership or limited liability company, as appropriate, duly organized, validly existing, and in good standing under the laws of the jurisdiction of its formation; (b) has all requisite partnership power and authority or company power and authority, as appropriate, to own its assets and carry on its business as now being or as proposed to be conducted; and (c) is qualified to do business in all jurisdictions in which the nature of its business makes such qualification necessary and where failure to so qualify would have a material adverse effect on the business, condition (financial or otherwise), operations, or properties of the Companies taken as a whole, Borrower, or any Material Subsidiary.

Partnership Existence. Each of the Partnerships: (a) is a general partnership, limited partnership or limited liability company, as appropriate, duly organized, validly existing, and in good standing under the laws of the jurisdiction of its formation; (b) has all requisite partnership power and authority or company power and authority, as appropriate, to own its assets and carry on its business as now being or as proposed to be conducted; and (c) is qualified to do business in all jurisdictions in which the nature of its business makes such qualification necessary and where failure to so qualify would have a material adverse effect on the business, condition (financial or otherwise), operations, or properties of the Companies taken as a whole, BorrowerGuarantor, or any Material Subsidiary.