Representations by the Operating Partnership Clause Samples
The 'Representations by the Operating Partnership' clause requires the Operating Partnership to formally state certain facts or assurances about its status, authority, or operations as part of a legal agreement. Typically, these representations might include confirming that the partnership is duly organized, has the power to enter into the agreement, and that there are no undisclosed liabilities or legal impediments. By providing these assurances, the clause helps the other party assess risk and ensures that the Operating Partnership is legally and practically able to fulfill its obligations under the contract.
Representations by the Operating Partnership. The Operating Partnership hereby represents and warrants to Contributor that the following statements are true, correct, and complete as of the date of this Agreement and will be true, correct and complete as of the Closing Date: