Legal Documents
Limited Partnership Agreement
A Limited Partnership Agreement is an agreement by which the Partners (i.e General and Limited partners) in a new or existing business set forth the terms and conditions by which they will associate with themselves.
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Table of Contents
1. DEFINITIONS AND INTERPRETATION 4
2. ARTICLE I: THE PARTNERSHIP 5
3. ARTICLE II MEMBERS OF PARTNERSHIP 5
4. ARTICLE III CAPITAL ACCOUNTS 6
5. ARTICLE IV- ALLOCATION AND DISTRIBUTION OF PROFITS AND LOSSES 8
6. ARTICLE V- MANAGEMENT OF PARTNERSHIP AFFAIRS AND VOTING RIGHTS 9
7. ARTICLE VI- BOOKS, RECORDS, AND ACCOUNTS 10
8. ARTICLE VII-RIGHTS, DUTIES AND RESTRICTIONS OF PARTNERS 12
9. ARTICLE VIII -PARTNERSHIP MEETINGS 13
10. ARTICLE IX-ASSIGNMENT AND/OR TRANSFER OF PARTNERSHIP INTEREST 16
11. ARTICLE X -LIABILITIES OF PARTNERS 19
12. ARTICLE XI -PROHIBITED TRANSACTIONS 20
13. ARTICLE XII -DISSOLUTION OF THE PARTNERSHIP 21
14. ARTICLE XIII MISCELLANEOUS PROVISIONS 22
15. DISPUTE RESOLUTION 2225
SCHEDULE 1 ALLOCATION AND DISTRIBUTION OF PROFITS AND LOSSES 27
