Common use of Formation and Authority Clause in Contracts

Formation and Authority. Buyer is, and will at Closing be, a limited partnership, duly formed, validly existing and in good standing under the laws of Pennsylvania and has, and will at Closing have, all necessary power and authority to enter into this Agreement and each Ancillary Agreement to which it is to be a party, to carry out its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The execution and delivery by Buyer of this Agreement and each Ancillary Agreement to which it is to be a party, the performance by Buyer of its obligations hereunder and thereunder and the consummation by Buyer of the transactions contemplated hereby and thereby have been approved by all necessary action of the partners of Buyer and the Board of Directors, or similar governing body of PREIT Associates L.

Formation and Authority. Buyer is, and will at Closing be, a limited partnership, duly formed, validly existing and in good standing under the laws of the Commonwealth of Pennsylvania and has, and will at Closing have, all necessary power and authority to enter into this Agreement and each Ancillary Agreement to which it is to be a party, to carry out its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The execution and delivery by Buyer of this Agreement and each Ancillary Agreement to which it is to be a party, the performance by Buyer of its obligations hereunder and thereunder and the consummation by Buyer of the transactions contemplated hereby and thereby have been approved by all necessary action of the partners of Buyer and the Board of Directors, or similar governing body of PREIT Associates L.

Formation and Authority. Buyer is, and will at Closing be, a limited partnership, is duly formed, validly existing and in good standing under the laws of Pennsylvania and has, and will at Closing have, all necessary power and authority to enter into this Agreement and each Ancillary Agreement to which it is to be a party, to carry out its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The execution and delivery by Buyer of this Agreement and each Ancillary Agreement to which it is to be a party, the performance by Buyer of its obligations hereunder and thereunder and the consummation by Buyer of the transactions contemplated hereby and thereby have been approved by all necessary action of the partners of Buyer and the Board of Directors, or similar governing body of PREIT Associates L.