Common use of PAA Capitalization Clause in Contracts

PAA Capitalization. As of the date hereof, the issued and outstanding limited partner interests of PAA consist of 675,104,994 PAA Common Units (as defined below) and 65,676,626 Series A Preferred Units (as defined in the Organizational Documents of PAA). All outstanding PAA Common Units and Series A Preferred Units and the limited partner interests represented thereby have been duly authorized and validly issued in accordance with the Organizational Documents of PAA and are fully paid (to the extent required under the Organizational Documents of PAA) and nonassessable (except as such nonassessability may be affected by Sections 17-303, 17-607 and 17-804 of the Delaware LP Act).

PAA Capitalization. As of the date hereofExecution Time, the issued and outstanding limited partner interests of PAA consist of 675,104,994 667,581,442 PAA Common Units (as defined below) and 65,676,626 64,388,853 Series A Preferred Units (as defined in the Organizational Documents of PAA). All outstanding PAA Common Units and Series A Preferred Units and the limited partner interests represented thereby have been duly authorized and validly issued in accordance with the Organizational Documents of PAA and are fully paid (to the extent required under the Organizational Documents of PAA) and nonassessable (except as such nonassessability may be affected by Sections 17-303, 17-607 and 17-804 of the Delaware LP Act).