Common use of Status of Partners Clause in Contracts

Status of Partners. The General Partner represents, warrants, covenants and agrees with each Limited Partner that it: (a) is a corporation incorporated under the Laws of British Columbia and is validly subsisting under those Laws; (b) has the capacity and corporate authority to act as a general partner and to perform its obligations under this Agreement, and those obligations do not conflict with nor do they result in a breach of any of its constating documents, by-laws or any agreement by which it is bound; (c) will act in good faith toward the Limited Partners in carrying out its obligations under this Agreement; (d) holds and will maintain the registrations necessary for the conduct of its business and has and will continue to have all licences and permits necessary to carry on its business as the General Partner of the Partnership in all jurisdictions where the activities of the Partnership require that licensing or other form of registration of the General Partner; and (e) will devote as much time as is reasonably necessary for the conduct and prudent management of the business and affairs of the Partnership.

Status of Partners. (a) The General Partner represents, warrants, covenants and agrees with each Limited Partner that it: (ai) is a corporation incorporated under the Laws laws of British Columbia Canada and is validly subsisting under those Lawslaws; (bii) has the capacity and corporate authority to act as a general partner and to perform its obligations under this Agreement, and those obligations do not conflict with nor do they result in a breach of any of its constating documents, by-laws or any agreement by which it is bound; (ciii) will act in good faith toward the Limited Partners in carrying out its obligations under this Agreement; (div) holds and will maintain the registrations necessary for the conduct of its business and has and will continue to have all licences and permits necessary to carry on its business as the General Partner of the Partnership in all jurisdictions where the activities of the Partnership require that licensing or other form of registration of the General Partner; and (ev) will devote as much time as is reasonably necessary for the conduct and prudent management of the business and affairs of the Partnership.

Status of Partners. The General Partner represents, warrants, covenants and agrees with each Limited Partner that it: (a) is a corporation incorporated under the Laws of British Columbia and is validly subsisting under those Laws; (b) has the capacity and corporate authority to act as a general partner and to perform its obligations under this Agreement, and those obligations do not conflict with nor do they result in a breach of any of its constating documents, by-laws or any agreement by which it is bound; (c) will act in good faith toward the Limited Partners in carrying out its obligations under this Agreement; (d) holds and will maintain the registrations necessary for the conduct of its business and has and will continue to have all licences and permits necessary to carry on its ​ business as the General Partner of the Partnership in all jurisdictions where the activities of the Partnership require that licensing or other form of registration of the General Partner; and (e) will devote as much time as is reasonably necessary for the conduct and prudent management of the business and affairs of the Partnership.