Purpose and Powers of Partnership Sample Clauses

Purpose and Powers of Partnership. 5.1 The purposes of the Partnership shall be to acquire, hold, purchase, own, operate, manage, develop, redevelop, construct, improve, maintain, invest in, finance, refinance, sell, convey, exchange, transfer, encumber, lease and otherwise deal with the properties of the Partnership and other real and personal property; to exercise all of the powers of a general partner in the Financing Partnership and to acquire, own, sell, convey, exchange, dispose of and otherwise deal with partnership interests in the Financing Partnership; to undertake such other activities as may be necessary, advisable, desirable or convenient to the business of the Partnership, and to engage in such other ancillary activities as shall be necessary or desirable to effectuate the foregoing purposes. The Partnership shall have all powers necessary or desirable to accomplish the purposes enumerated. In connection with the foregoing, but subject to all of the terms, covenants, conditions and limitations contained in this Agreement and any other agreement entered into by the Partnership, the Partnership shall have full power and authority, directly or through its interests in the Financing Partnership, the
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Purpose and Powers of Partnership. 20 4.1 Purposes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20 4.2 Compliance with REIT Requirements . . . . . . . . . . . . . . . . .21 Article 5. Term. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21 5.1 Dissolution . . . . . . . . . . . . . . . . . . . . . . . . . . . .21
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Purpose and Powers of Partnership. A. The purposes of the Partnership shall be to acquire, own, operate, manage, develop, redevelop, finance, refinance, sell, lease and otherwise deal with the Properties and assets related thereto, and interests therein, whether directly or indirectly, alone or in association with others. The purposes of the Partnership include, but are not limited to: (i) acquiring, developing, operating, leasing and managing the Properties and conducting any other lawful business relating thereto; (ii) mortgaging, exchanging, selling, encumbering or otherwise disposing of any one or more of the Properties or any interest therein; (iii) constructing, reconstructing, altering, modifying and subtracting from or adding to any one or more of the Properties or any part thereof; and (iv) in general, the making of any investments or expenditures, the borrowing and lending of money and the taking of any and all other actions which are incidental or related to any of the purposes recited above. It is agreed that each of the foregoing is an ordinary part of the Partnership's business and affairs. Property may be acquired subject to, or by assuming, the liens, encumbrances, and other title exceptions which affect such property. B. The Partnership purposes may be accomplished by taking any action which is not prohibited under the Act and which is related to the acquisition, ownership, development, improvement, operation, management, financing, leasing, exchanging, selling or otherwise encumbering or disposing of all or any portion of the assets of the Partnership, or any interest therein.
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Purpose and Powers of Partnership. A. The purposes of the Partnership shall be to acquire, purchase, own, hold for investment, operate, manage, develop, redevelop, invest in, finance, refinance, sell, lease and otherwise deal with commercial real properties (including multifamily residential real properties) and personal property and assets related thereto, and interests therein, whether directly or indirectly, alone or in association with others. The purposes of the Partnership include, but are not limited to: (i) acquiring, developing, operating, leasing and managing commercial properties, including multifamily residential real properties and conducting any other lawful business relating thereto; (ii) financing, mortgaging, exchanging, selling, encumbering or otherwise disposing of all or any part of a commercial property or any interest therein; (iii) constructing, reconstructing, altering, modifying and subtracting from or adding to a commercial property or any part thereof; (iv) organizing and holding interests in corporations, partnerships, limited liability companies and other entities owning or otherwise having an interest in, whether directly or indirectly, one or more commercial properties; (v) to acquire stock ownership interests in and to exercise all of the powers of a stockholder; (vi) in general, the making of any investments or expenditures, the borrowing and lending of money and the taking of any and all actions which are incidental or related to any of the purposes recited above; and (vii) to do anything necessary, appropriate, proper, advisable, desirable, convenient or incidental to the foregoing; provided, however, that such business shall be limited to and conducted in such a manner as to permit the Original Limited Partner at all times to qualify as a REIT, unless the Original Limited Partner voluntarily terminates its REIT status pursuant to its Articles of Incorporation. In connection with the foregoing, and without limiting the Original Limited Partner's right in its sole discretion to cease qualifying as a REIT, the Partners acknowledge that the Original Limited Partner's current status as a REIT inures to the benefit of all the Partners and not solely to the Original Limited Partner. It is agreed that each of the foregoing is an ordinary part of the Partnership's business and affairs. Property may be acquired subject to, or by assuming, the liens, encumbrances, and other title exceptions which affect such Property. The Partnership may also be a partner (general o...
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Purpose and Powers of Partnership. 5.1 The purposes of the Partnership shall be to acquire, hold, purchase, own, operate, manage, develop, redevelop, construct, improve, maintain, invest in, finance, refinance, sell, convey, exchange, transfer, encumber, lease and otherwise deal with the properties of the Partnership and other real and personal property; to exercise all of the powers of a general partner in the Financing Partnership and to acquire, own, sell, convey, exchange, dispose of and otherwise deal with partnership interests in the Financing
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Purpose and Powers of Partnership. 5.1 The purposes of the Partnership shall be to acquire, hold, purchase, own, operate, manage, develop, redevelop, construct, improve, maintain, invest in, finance, refinance, sell, convey, exchange, transfer, encumber, lease and otherwise deal with the properties of the Partnership and other real and personal property; to exercise all of the powers of a general partner in the Financing Partnership and to acquire, own, sell, convey, exchange, dispose of and otherwise deal with partnership interests in the Financing Partnership; to undertake such other activities as may be necessary, advisable, desirable or convenient to the business of the Partnership, and to engage in such other ancillary activities as shall be necessary or desirable to effectuate the foregoing purposes. The Partnership shall have all powers necessary or desirable to accomplish the purposes enumerated. In connection with the foregoing, but subject to all of the terms, covenants, conditions and limitations contained in this Agreement and any other agreement entered into by the Partnership, the Partnership shall have full power and authority, directly or through its interests in the Financing Partnership, the Financing Corporation or any other partnership, subsidiary, limited liability company, other entity or joint venture, to enter into, perform and carry out contracts of any kind, to borrow money and to issue evidences of indebtedness, whether or not secured by mortgage, trust deed, pledge or other lien, and directly or indirectly to acquire and construct additional properties as necessary or useful in connection with its business. 5.2 The Partners acknowledge and agree that the Partnership shall be operated in a manner that will enable the General Partner to (i) satisfy the requirements for qualifying and taxation as a REIT under the Code and the Regulations (the "REIT Requirements") and (ii) avoid the imposition of any federal income or excise tax liability. The Partnership shall avoid taking any action, or permitting any Affiliate to take any action, which would result in the General Partner ceasing to satisfy the REIT Requirements or would result in the imposition of any federal income or excise tax liability on the General Partner.
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Purpose and Powers of Partnership 
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Related to Purpose and Powers of Partnership

  • Purpose and Powers of the Company The Company is organized for the purpose of carrying on any lawful activity for which limited liability companies may be formed under the Act. The Company shall possess and may exercise all of the powers and privileges granted by the Act or by any other law or by this Agreement, together with any powers incidental thereto, so far as such powers and privileges are necessary or convenient to the conduct, promotion or attainment of the business purposes or activities of the Company contemplated by this Agreement.

  • Purpose and Powers (a) The Company is organized for the purposes of undertaking such activities as determined by the Board and, subject to the terms and conditions herein and of the Delaware Act, the Members, which are permitted by applicable law and engaging in activities incidental or ancillary thereto. Notwithstanding the forgoing, the Company has been organized to form a subsidiary which will acquire the artwork as identified on Schedule 1 (the “Painting”) and undertake certain actions with respect thereto. (b) The Company shall possess and may exercise all the powers and privileges granted by the Delaware Act or by any other law or by this Agreement, together with any powers incidental thereto, which are necessary or convenient to the conduct, promotion or attainment of the business, purposes or activities of the Company.

  • Purposes and Powers of the Trust The purpose of the trust, as created hereunder, is to engage in the following activities: (a) to sell the Certificates to the Company in exchange for the Mortgage Loans; (b) to enter into and perform its obligations under this Agreement; (c) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and (d) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. Notwithstanding the provisions of Section 11.01, the trust shall not engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement while any Certificate is outstanding, and this Section 2.08 may not be amended, without the consent of the Certificateholders evidencing a majority of the aggregate Voting Rights of the Certificates.

  • Organization and Powers Each Loan Party is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation as specified in Schedule 5.1 annexed hereto. Each Loan Party has all requisite corporate power and authority to own and operate its properties, to carry on its business as now conducted and as proposed to be conducted, to enter into the Loan Documents and Related Agreements to which it is a party and to carry out the transactions contemplated thereby.

  • Organization and Power The Purchaser is duly organized, validly existing, and in good standing under the laws of the jurisdiction of its formation and has all requisite power and authority to carry on its business as presently conducted and as proposed to be conducted.

  • Organization, Qualification and Power The Company is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation, and has all requisite corporate power and authority, and all governmental licenses, governmental authorizations, governmental consents and governmental approvals, required to carry on its business as now conducted and to own, lease and operate the assets and properties of the Company as now owned, leased and operated. The Company is duly qualified or licensed to do business as a foreign corporation and is in good standing in every jurisdiction in which the character or location of its properties and assets owned, leased or operated by the Company or the nature of the business conducted by the Company requires such qualification or licensing, except where the failure to be so qualified, licensed or in good standing in such other jurisdiction could not, individually or in the aggregate, have a Material Adverse Effect (as defined herein) on the Company. The Company has heretofore delivered to the Investors complete and accurate copies of its Articles of Incorporation and Bylaws, as currently in effect. The Company has previously delivered to the Investors a complete and accurate list of all jurisdictions in which the Company is qualified or licensed to do business as of the date hereof.

  • Purposes and Powers The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities: (a) to acquire, manage and hold the Receivables; (b) to issue the Notes pursuant to the Indenture and the Certificates pursuant to this Agreement, and to sell, transfer or exchange the Notes and the Certificates; (c) to acquire certain property and assets from the Depositor on the Closing Date pursuant to the Trust Sale Agreement and any other Further Transfer Agreements, to make payments to the Noteholders and the Certificateholders, to make deposits into and withdrawals from the Reserve Account and to pay the organizational, start-up and transactional expenses of the Trust; (d) to assign, grant, transfer, pledge, mortgage and convey the Owner Trust Estate pursuant to the terms of the Indenture and to hold, manage and distribute to the Certificateholders pursuant to the terms of this Agreement and the Servicing Agreement any portion of the Trust Estate released from the lien of, and remitted to the Trust pursuant to, the Indenture; (e) to enter into and perform its obligations and exercise its rights under the Basic Documents to which it is to be a party; (f) to engage in those activities, including entering into agreements, that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and (g) subject to compliance with the Basic Documents, to engage in such other activities as may be required in connection with conservation of the Owner Trust Estate and the making of distributions to the Securityholders. The Trust shall not engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement or the other Basic Documents. Notwithstanding anything to the contrary in this Agreement or in any other document, neither the Trust nor the Owner Trustee (nor any agent of either person) shall be authorized or empowered to acquire any other investments, reinvest any proceeds of the Trust or engage in activities other than the foregoing, and, in particular neither the Trust nor the Owner Trustee (nor any agent of either person) shall be authorized or empowered to do anything that would cause the Trust to fail to qualify as a grantor trust for United States federal income tax purposes.

  • Authorization and Power Such Subscriber has the requisite power and authority to enter into and perform this Agreement and the other Transaction Documents (as defined herein) and to purchase the Note and Warrants being sold to it hereunder. The execution, delivery and performance of this Agreement and the other Transaction Documents by such Subscriber and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action, and no further consent or authorization of Subscriber or its board of directors or stockholders, if applicable, is required. This Agreement and the other Transaction Documents have been duly authorized, executed and delivered by such Subscriber and constitutes, or shall constitute, when executed and delivered, a valid and binding obligation of such Subscriber, enforceable against Subscriber in accordance with the terms thereof.

  • Organization; Good Standing; Qualification and Power The Contributed Subsidiaries are all of the subsidiaries of the Contributed Companies or any of their direct or indirect subsidiaries. Each of the Contributed Companies, and the Contributed Subsidiaries and each of the Contributing Companies is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its formation, has all requisite corporate power and authority to own, lease and operate any and all of the Group Assets held by such company and for the Conduct of the Group Business as now being conducted by such company, and is duly qualified and in good standing to do business in each jurisdiction in which the nature of its business or the ownership or leasing of its properties makes such qualification necessary, other than in such jurisdictions where the failure so to qualify would not have a Material Adverse Effect on the Group Business. SCO has delivered to Caldera or its counsel complete and correct copies of the charter documents of the Contributed Companies and the Contributed Subsidiaries. Except for the Contributed Subsidiaries, none of the Contributed Companies nor any of the Contributed Subsidiaries owns, directly or indirectly, any capital stock or other equity interest of any corporation or has any direct or indirect equity or ownership interest in any other business, whether organized as a corporation, partnership, joint venture or otherwise.

  • Admission of Initial Limited Partners Upon the issuance by the Partnership of Common Units, Subordinated Units and Incentive Distribution Rights to the General Partner, Teekay Shipping Corporation and the Underwriters as described in Sections 5.2 and 5.3 in connection with the Initial Offering, the General Partner shall admit such parties to the Partnership as Initial Limited Partners in respect of the Common Units, Subordinated Units or Incentive Distribution Rights issued to them.

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