Common use of Valid Issuance of Units Clause in Contracts

Valid Issuance of Units. At the Initial Delivery Date or the Option Unit Delivery Date (as defined in Section 4 hereof), as the case may be, the Firm Units or the Option Units, as the case may be, and the limited partner interests represented thereby, will be duly authorized in accordance with the Partnership Agreement and, when issued and delivered to the Underwriters against payment therefor in accordance with this Agreement, will be validly issued, fully paid (to the extent required under the Partnership Agreement) and nonassessable (except as such nonassessability may be affected by Sections 17-303, 17-607 or 17-804 of the Delaware LP Act).

Valid Issuance of Units. At the Initial Delivery Date or the any Option Unit Units Delivery Date (as defined in Section 4 hereof)Date, as the case may be, the Firm Units or the Option Units, as the case may be, and the limited partner interests represented thereby, will be duly authorized in accordance with the Partnership Agreement and, when issued and delivered to the Underwriters against payment therefor in accordance with this Agreementthe terms hereof, will be validly issued, fully paid (to the extent required under the Partnership Agreement) and nonassessable non-assessable (except as such nonassessability non-assessability may be affected by matters described in Sections 17-303303(a), 17-607 or and 17-804 of the Delaware LP Act).