GeneralpartnershipagreementTemplate1Word文件下载.docx
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GeneralpartnershipagreementTemplate1Word文件下载.docx
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(hereinafter“X”)
OFTHEFIRSTPART,
-and-
[],incorporatedunderthelaws[].
(hereinafter“Y”)
OFTHESECONDPART.
WHEREASXandYenteredintothePartnership(asdefinedherein)effectiveasofOctober1,2003onthetermsandconditionshereinaftersetforth;
ANDWHEREASfromandfollowing[],thePartnershipacquiredcertainassetsrequiredbyittocarryonitsbusiness;
NOWTHEREFORETHISAGREEMENTWITNESSETHthatinconsiderationofthepremisesandthemutualcovenants,agreementsandconditionshereincontained,itisherebycovenanted,agreedanddeclaredbyandamongthePartners(asdefinedherein)asfollows:
Article
1
–?
introduction
1.1Definitions.
InthisAgreement(asdefinedherein),unlessthereissomethinginthesubjectmatterorcontextinconsistenttherewith,thefollowingtermsshallhavetherespectivemeaningsascribedbelow:
(a)“Accountants”meanssuchfirmofaccountantsasthePartnersmayfromtimetotimedeterminetobetheaccountantsofthePartnership(asdefinedherein);
(b)“Agreement”,“thisAgreement”,“hereto”,“herein”,“hereby”,“hereunder”andsimilarexpressionsrefertothisAgreementandnottoanyparticularArticle,Sectionorotherportionhereof,andincludeanyandeveryinstrumentsupplementalorancillarytoorinimplementhereof;
(c)“Business”meansanybusinessorbusinessescarriedonbythePartnershipasmaybedeemedbythePartnerstobeinthebestinterestofthePartnershipandanyothergeneralbusinessactivitiesrelatedorincidentalthereto;
(d)“EffectiveDate”meansOctober1,2003;
(e)“FiscalYear”meansJune1toMay31;
(f)“Partner”meansanyoneofXorYoranyotherpartneradmittedpursuanttotheprovisionsofthisAgreement,“Partners”meansallofthem,andthe“Partnership”meansthepartnershipestablishedbythisAgreement;
and
(g)“Person”meansanyindividual,firm,corporation,partnership,jointventure,trusteeortrust,governmentoragencythereof,unincorporatedassociation,orotherentityandpronounshaveasimilarlyextendedmeaning.
1.2NumberandGender.
Wordsimportingthesingularincludethepluralandviceversaandwordsimportinggenderincludeallgenders.
1.3GoverningLegislation.
ExceptasexpresslystipulatedinthisAgreementtothecontrary,therightsandobligationsofthePartnersandtheadministrationandterminationofthePartnershipshallbegovernedbythePartnershipAct(Ontario)(the“Act”)oranysuccessorlegislationorotherstatutewhichmaybepassedtotaketheplaceoftheActortoamendsame.
2
FORMATIONOFPARTNERSHIP
2.1Establishment.
Subjecttothetermsandconditionshereof,thepartiesheretoagreetocarryontheBusinessinpartnership.
2.2Term.
SubjecttotheprovisionsofthisAgreement,thePartnershipshallcommenceasoftheEffectiveDateandshallcontinueforatermendingontheearlierof:
(a)thedateonwhichthePartnershipisvoluntarilydissolvedbyunanimousagreementofthePartners;
or
(b)thedateonwhichthePartnershipisdissolvedbyoperationoflaw.
2.3Name.
ThenameofthePartnershipshallbe“[]”and/orsuchothernameornamesasthePartnersmayfromtimetotimeagreeuponinwritingandnopartyshallcarryonbusinessundersuchnameexceptasaPartnerofthePartnership.
2.4PlaceofBusiness.
TheplaceofbusinessofthePartnershipshallbeatsuchplaceorplacesasthePartnersshallfromtimetotimehereafterdetermine.
2.5NewPartners.
NopersonshallbeadmittedasaPartnerexceptwiththeunanimousconsentinwritingofthePartners.
3
financialmatters
3.1CapitalContributionsandFinancingRequirements.
TheinitialcapitalofthePartnershipshallbe:
(a)ForXtheamountof$[],beingthecapitalcontributionmadebyXtothePartnershipon[];
(b)ForYtheamountof$[],beingthecapitalcontributionmadebyYtothePartnershipon[]
TheinitialcapitalsocontributedbyeachofthePartnersiscreditedtothecapitalaccount(“CapitalAccount”)ofeachPartner.ThefollowingprovisionsofthisSection3.1shallapplyinrespectofthecapitalcontributionsofthePartners:
(c)thecapitalfundsofthePartnershipshallbelongtothePartnersintheproportioncontributedbyeachPartner;
(d)anyfurthercontributionofcapitalrequiredbythePartnershipmaybecontributedtothePartnershipbyanyoneorbothofthePartnerswithoutlimitationastotheamountofsuchfurthercapitalcontributionandanysuchadditionalcapitalcontributionshallbetreatedinthesamemannerastheinitialcapitalcontributionsabovesetout;
and
(e)noPartnershallbeentitledtointerestontheamountofitscapitalcontributiontothePartnership.
3.2ProfitsandLosses.
IneachFiscalYearallitemsofincomeandgain,andexpenseandlossofthePartnershipshallbedeterminedbytheAccountantsofthePartnershipattheendofeachFiscalYear.
3.3NetProfitsandLosses.
UntilotherwiseunanimouslyagreedbythePartners,andsubjecttotheprovisionsofthisAgreement,thenetprofits,ifany,ofthePartnershipasdeterminedattheendofeachsuchFiscalYearshallbeallocatedamongthePartnersinproportiontotherespectiveCapitalAccountofeachofthePartnersascalculatedattheendofeachsuchFiscalYear.AllexpensesincurredinthecourseoftheBusinessandalllosses,ifany,arisingtherefromshallbeborneoutoftheearningsoftheBusiness,orinthecaseofadeficiency,thelossesshallbeallocatedamongstthePartnersproratatotheirrespectiveindividualCapitalAccountsattheendofeachsuchFiscalYear.
3.4Drawings.
EachofthePartnersmaydrawoutofthePartnership,fromtimetotime,onaccountofitsshareofthenetprofitsforthecurrentyear,asumnotexceedingtheirrespectiveCapitalAccounts.AnysumsdrawnoutbyanyPartnerinexcessofitsshareofthenetprofitsforanysuchyearshallberepaidinfulltothePartnershipunlessotherwiseunanimouslyagreedbythePartners.
3.5FinancialStatements.
ProperaccountsshallbekeptofalltransactionsoftheBusinessandattheendofeachFiscalYearorassoonthereafteraspossible,astatementshallbepreparedshowingtheincomeandexpensesoftheBusinessforthepastyearandwhatbelongsandisduetoeachofthePartnersasitsshareoftheprofits.
3.6BorrowingorEncumbranceofPartnershipInterest.
NeitherPartnershall,withoutthepreviousconsentinwritingoftheother,signorencumberitsshareorinterestinthePartnership,borrowmoneyonbehalfoftheBusinessor,hireanyemployeeorsubcontractor.
3.7PaymentofObligations.
EachofthePartnersshallpunctuallypayanddischargeitsseparatedebts,liabilities,obligations,dutiesandagreementswhetheratpresentorfutureandkeepindemnifiedthePartnershippropertyandtheotherPartnerfromallactions,proceedings,costs,claimsanddemandsofeverynature.
3.8Indemnification.
IfatanytimeeitherofthePartnersisrequiredtopayorbecomeliableformorethanitsproportionofthePartnershipdebtsasprovidedforinthisAgreement,thatPartnershallhaveasagainsttheotherPartnerarightofrecoveryoftheappropriateproportionofthepaymentorindemnificationagainstsuchliability,andthePartnershallhave,onbecomingliableforsuchdebt,thefirstlienorchargeonthecapitalandallotherinterestorinterestsoftheoffendingPartnerinthePartnershipbusiness.
4
management
4.1Management.
Finalauthority,managementandcontrolofthebusinessandaffairsofthePartnershipshallbevestedinthePartners.
4.2ActionofthePartners.
ThepowersofthePartnersmaybeexercisedbyresolutionpassedatameetingofthePartnersorbyresolutionconsentedtobythesignaturesofthePartners.
4.3DelegationofAuthority.
ThePartnersmayatanytimeandfromtimetotimebyresolutionpassedatameetingofthePartnersdelegateanypowerorauthorityrelatingtothemanagementofthebusinessandaffairsofthePartnershiptoanyPartnerandtheexerciseofanysuchauthorityorauthoritybysuchPartnershallbevalidandbindinguponallPartnersuntilsuchpowerorauthorityhasbeenrescindedbyresolution.
4.4PlaceofMeeting.
MeetingsofthePartnersshallbeheldattheprincipalofficeofthePartnership,or,atsuchotherplaceasthePartnersmay,byunanimousagreement,determine.
4.5CallingofMeetings.
MeetingsofthePartnersshallbeheldfromtimetotimeatsuchtimeandonsuchdaywithoutnoticeasanyPartnermaydetermine.
4.6PowerofAttorney.
EachPartnergrantstotheotherPartnerforsuchtimeasheremainsaPartnertothisAgreement,anirrevocablepowerofattorneyforthepurposesoffilinganynoticesorregistrationsasmayberequiredbylawinconnectionwiththeexistenceorcarryingonofthebusinessofthePartnership.
4.7FiscalYear.
UntilchangedwiththeunanimousapprovalofthePartners,theFiscalYearshallbethefiscalyearofthePartnership.
4.8BankingArrangements.
ThePartnersagreethatthePartnershipshallenterintobankingarrangementswithanybankorbanksorotherfinancialinstitutionsasthePartnersshallagreeon.Allcheques,draftsandotherinstrumentsanddocumentsonbehalfofthePartnershipmaybesignedbyanyoneofthePartnersalone,unlessotherwiseagreedbetweentheparties.AllPartnershipmoneyshall,whenreceivedfromtimetotime,bepaidanddepositedwiththebankersofthePartnershiptothecreditofthePartnershipaccount.
4.9BooksandRecords.
Com
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