adjective The papers BEING DELIVERED at 4:00 WILL CONTAIN the announcement of the president’s resignation" Simple analysis - The papers ... WILL CONTAIN the announcement of the president’s resignation" Subject - the papers Verb - will contain Object - the announcement Full analysis - The papers BEING DELIVERED at 4:00 WILL CONTAIN the announcement of the president’s resignation" Subject - The papers BEING DELIVERED at 4:00 determiner - the noun - papers adjectival phrase - being delivered at 4:00 // being delivered (adjective - passive past participle that modifies papers) // at 4:00 (adverb of time that modifies being delivered) Verb - will contain // modal - will // verb - contain Object - the announcement of the president's resignation determiner - the noun - announcement prepositional phrase - of the president's resignation // preposition - of // determiner - the // possessive - president's // noun - resignation

Both! It's a structure called a PARTICIPLE, which is a verb form that takes on characteristics of an adjective. It can usually be replaced with a relative pronoun: "The papers, the ones that are being delivered at 4:00, will contain the announcement of the president's resignation." "The announcement of the president's resignation will be contained in the papers that are being delivered at 4:00."

verb . It's in the passive voice. Someone is deliverying the papers - active voice The papers that are being delivered - passive voice The papers (that are) being delivered