Common use of Existence, Power and Authority Clause in Contracts

Existence, Power and Authority. Transferor is a limited partnership, duly organized and validly existing under the laws of the jurisdiction of its organization, and has all requisite partnership authority to enter into this Agreement, the Bill ▇▇ Sale, and to consummate the transactions contemplated hereby and thereby; and Cronos is a corporation existing and in good standing under the laws of California, and, as its managing general partner, has the full authority to bind Transferor to this Agreement by execution hereof on its behalf.

Existence, Power and Authority. Transferor is a limited partnership, duly organized and validly existing under the laws of the jurisdiction of its organization, and has all requisite partnership authority to enter into this Agreement, the Bill ▇▇▇▇ of Sale, and to consummate the transactions contemplated hereby and thereby; and Cronos is a corporation existing and in good standing under the laws of California, and, as its managing general partner, has the full authority to bind Transferor to this Agreement by execution hereof on its behalf.