Sample Partnership Agreement printable pdf download

Duquesne University Small Business Development Center

Sample Partnership Agreement

THIS AGREEMENT is made and entered into at ______________________________, this ________ day

of ________________, 20_______, by and between

____________________________________________________ (Name And Address) and

_________________________________________________ (Name And Address) (hereafter collectively

referred to as the "Partners").

W I T N E S S E T H:

WHEREAS, the Partners intend to ________________________________________

____________________________________________________________________.

NOW THEREFORE, in consideration of the promises and mutual covenants made one to the other, be it

and it is hereby agreed as follows:

Partnership Name and Purpose. The parties hereto hereby form a Partnership under the name and

style of _______________________________________________ (hereafter referred to as "the

Partnership") to own real property, develop real property, and thereafter to manage, operate, develop,

mortgage, lease or sell real property and do all other lawful things as further business of the partnership and

as may be necessary, incidental, or convenient to carry on the Partnership business as provided herein.

Place of Business. The principal place of business of the Partnership shall be

___________________________________________________ (Location and Address) or such other place

in the State of ________________ as the Partnership may hereafter, from time to time, determine.

Term. The Partnership shall commence as of the date of the execution of this Agreement and shall

continue thereafter for a term of __________ years, unless sooner dissolved and terminated by agreement

of the Partners; provided, however, that the Partnership shall not be terminated by the bankruptcy,

insolvency, appointment of trustee for the benefit of creditors, death, incompetence, or withdrawal of any

Partner, but the remaining Partners shall have the rights and options as set forth below.

Capital Contributions. Each Partner shall contribute to the Partnership, an initial contribution of

capital and each Partner shall share in the net annual operating profits or losses of the Partnership in the

following ratio unless adjusted as hereinafter provided:

________________________________

______________________

Partners Name

Contribution

________________________________

______________________

Partners Name

Contribution

The capital of the Partnership shall be the aggregate amount of capital contributions made to it by the

Partners. The initial capital to be contributed by each Partner shall be in cash. No Partner shall be required

to make any additional contribution to the Partnership but shall make such additional contributions as

agreed upon by a supermajority of the partners, and directed by a written call given to each partner. For all

purposes in this Agreement, a supermajority vote of the partners shall be a vote of at least five partners.

If any Partner fails to contribute the additional capital required of him within thirty (30) days after written

call for contribution, the other Partners shall be given the opportunity to contribute amounts that will equal

the assessment in default. They shall contribute amounts equaling the assessment in default in a proportion

commensurate with the proportion of the capital interest in the Partnership of the non-defaulting Partner(s)

Sample Partnership Agreement 1

Duquesne University SBDC 2009 - Reprinted with the express permission of the American Institute for

Financial Research, Inc., Smart Business System, Smart Online. Smart Attorney and other business

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Sample Partnership Agreement

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