Common use of Authorization of Units Clause in Contracts

Authorization of Units. All issued and outstanding Units have been duly authorized and are validly issued, fully paid and non-assessable and have been offered and sold or exchanged by the Operating Partnership in compliance with all applicable laws (including, without limitation, federal and state securities laws). Except for (i) any outstanding convertible preferred units, (ii) a third party interest in Keystone Cranberry West, LLC that can be exchanged for Units (the "Cranberry Interest") and (iii) units that may be issued pursuant to the option agreement between the Operating Partnership and Xxxxxxxx Investments, Inc., dated as of December 14, 1998 (the "Xxxxxxxx Agreement"), there are no Units reserved for any purpose and there are no outstanding securities convertible into or exchangeable for any Units and no outstanding options, rights (preemptive or otherwise) or warrants to purchase or to subscribe for Units.

Authorization of Units. All issued and outstanding Units have been duly authorized and are validly issued, fully paid and non-assessable and have been offered and sold or exchanged by the Operating Partnership in compliance with all applicable laws (including, without limitation, federal and state securities laws). Except for (i) any outstanding convertible preferred units, (ii) a third party interest in Keystone Cranberry Cranbury West, LLC that can be exchanged for Units (the "Cranberry Cranbury Interest") and (iii) units that may be issued pursuant to the option agreement between the Operating Partnership and Xxxxxxxx Investments, Inc., dated as of December 144, 1998 (the "Xxxxxxxx Agreement"), there are no Units reserved for any purpose and there are no outstanding securities convertible into or exchangeable for any Units and no outstanding options, rights (preemptive or otherwise) or warrants to purchase or to subscribe for Units.

Authorization of Units. All issued and outstanding Units have been duly authorized and are validly issued, fully paid and non-assessable and have been offered and sold or exchanged by the Operating Partnership in compliance with all applicable laws (including, without limitation, federal and state securities laws). Except for (i) any outstanding convertible preferred units, (ii) a third party interest in Keystone Cranberry Cranbury West, LLC that can be exchanged for Units (the "Cranberry “Cranbury Interest"”) and (iii) units that may be issued pursuant to the option agreement between the Operating Partnership and Xxxxxxxx Bxxxxxxx Investments, Inc., dated as of December 144, 1998 1998, as amended as of July 3, 2003 (the "Xxxxxxxx “Bxxxxxxx Agreement"”), there are no Units reserved for any purpose and there are no outstanding securities convertible into or exchangeable for any Units and no outstanding options, rights (preemptive or otherwise) or warrants to purchase or to subscribe for Units.

Authorization of Units. All issued and outstanding Units have been duly authorized and are validly issued, fully paid and non-assessable and have been offered and sold or exchanged by the Operating Partnership in compliance with all applicable laws (including, without limitation, federal and state securities laws). Except for (i) any outstanding convertible preferred units, (ii) a third party interest in Keystone Cranberry Cranbury West, LLC that can be exchanged for Units (the "Cranberry Cranbury Interest") and (iii) units that may be issued pursuant to the option agreement between the Operating Partnership and Xxxxxxxx Bxxxxxxx Investments, Inc., dated as of December 144, 1998 1998, as amended as of July 3, 2003 (the "Xxxxxxxx Bxxxxxxx Agreement"), there are no Units reserved for any purpose and there are no outstanding securities convertible into or exchangeable for any Units and no outstanding options, rights (preemptive or otherwise) or warrants to purchase or to subscribe for Units.

Authorization of Units. All issued and outstanding Units have been duly authorized and are validly issued, fully paid and non-assessable and have been offered and sold or exchanged by the Operating Partnership in compliance with all applicable laws (including, without limitation, federal and state securities laws). Except for (i) any outstanding convertible preferred units, (ii) a third party interest in Keystone Cranberry Cranbury West, LLC that can be exchanged for Units (the "Cranberry Cranbury Interest") and (iii) units that may be issued pursuant to the option agreement between the Operating Partnership and Xxxxxxxx Browning Investments, Inc., dated as of December 14, 1998 (the xxx "Xxxxxxxx Xxxwning Agreement"), there are no Units reserved for any purpose and pxxxxxx xnd there are no outstanding securities convertible into or exchangeable for any Units and no outstanding options, rights (preemptive or otherwise) or warrants to purchase or to subscribe for Units.