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Limited Partnership Agreement

This Limited Partnership Agreement template is used to establish a formal agreement between one or more general partners, who manage the business, and one or more limited partners, who contribute capital but have limited liability and no management authority. It is suitable for businesses seeking to raise capital while clearly defining roles and responsibilities.

Updated 15d ago
limited partnershippartnership agreementfinancinginvestmentbusiness agreementSMESouthern Africa

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

LIMITED PARTNERSHIP AGREEMENT

This Limited Partnership Agreement ("Agreement") is made and entered into on this {{day}} day of {{month}}, {{year}}, by and between the parties listed below.

1. PARTIES

1.1. GENERAL PARTNER(S): {{general_partner_name}} {{general_partner_address}} (hereinafter referred to as the "General Partner")

1.2. LIMITED PARTNER(S): {{limited_partner_name}} {{limited_partner_address}} (hereinafter referred to as the "Limited Partner")

Collectively, the General Partner and Limited Partner shall be referred to as the "Partners."

2. FORMATION OF LIMITED PARTNERSHIP

2.1. The Partners hereby form a limited partnership (the "Partnership") under the laws of {{jurisdiction}}.

2.2. The name of the Partnership shall be {{partnership_name}}.

2.3. The principal place of business of the Partnership shall be {{partnership_address}}.

3. PURPOSE OF THE PARTNERSHIP

The purpose of the Partnership is to {{partnership_purpose}} and to engage in any and all activities necessary, customary, or incident thereto.

4. CAPITAL CONTRIBUTIONS

4.1. The General Partner shall contribute {{general_partner_contribution_description}}.

4.2. The Limited Partner shall contribute a capital sum of {{limited_partner_capital_contribution_amount}} ({{currency}}) to the Partnership.

4.3. No Partner shall be required to make any additional capital contributions unless otherwise agreed upon in writing by all Partners.

5. PROFIT AND LOSS ALLOCATIONS AND DISTRIBUTIONS

5.1. Profits and losses of the Partnership shall be allocated among the Partners in proportion to their respective capital contributions, or as otherwise agreed upon in writing by all Partners.

5.2. Distributions of available cash flow shall be made at such times and in such amounts as determined by the General Partner, provided that all distributions shall uphold the terms of this Agreement.

6. MANAGEMENT AND CONTROL

6.1. The General Partner shall have the sole and exclusive right to manage and control the business and affairs of the Partnership.

6.2. The Limited Partner shall not participate in the management or control of the Partnership's business and shall not have the power to bind the Partnership, except as expressly provided by law.

7. TERM AND TERMINATION

7.1. The term of the Partnership shall commence on the date first written above and shall continue until {{termination_date_or_event}}.

7.2. The Partnership may be dissolved upon the occurrence of a dissolution event as defined herein, or by mutual written agreement of all Partners.

8. LIABILITY

8.1. The General Partner shall be personally liable for all debts and obligations of the Partnership.

8.2. The liability of the Limited Partner for the debts and obligations of the Partnership shall be limited to the amount of their capital contribution.

9. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of {{governing_law_jurisdiction}}.

10. ENTIRE AGREEMENT

This Agreement constitutes the entire agreement among the Partners with respect to the subject matter hereof and supersedes all prior agreements and understandings, both oral and written.

11. SIGNATURES

IN WITNESS WHEREOF, the parties have executed this Limited Partnership Agreement as of the day and year first above written.

GENERAL PARTNER(S): _____________________________ Name: {{general_partner_signature_name}} Date: {{general_partner_signature_date}}

LIMITED PARTNER(S): _____________________________ Name: {{limited_partner_signature_name}} Date: {{limited_partner_signature_date}}

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