Formation; Qualification. The Partnership is a limited partnership duly formed, validly existing, and in good standing under the laws of the State of Delaware. The Partnership has all requisite partnership power and authority to own, operate, or lease its properties and to carry on its business as now being conducted. The Partnership is duly qualified to do business as a foreign limited partnership and is in good standing in each jurisdiction where the character of its properties owned, operated, or leased, or the nature of its activities, makes such qualification necessary.
Appears in 12 contracts
Samples: Agreement and Plan of Merger (Southwest Royalties Institutional Income Fund Vii-B L P), Agreement and Plan of Merger (Southwest Royalties Inc), Agreement and Plan of Merger (Southwest Royalties Inc)
