General Partnership Agreement of A Business - Free Download | Page 3
4.5,
4167
votes
Please vote for this template if it helps you.
within ^ days following the date of this Agreement in the amount set forth below after his or her
name:
Name of Partner
Amount of Initial
Contribution
^ $^
^ $^
^ $^
^ $^
5.2. An individual capital account shall be maintained for each Partner and shall
consist of his or her initial capital contribution, increased by (a) additional capital contributions
made by him or her and (b) his or her share of Partnership profits and gains, and decreased by
(i) distributions of profits and capital to him or her and (ii) his or her share of Partnership
losses, deductions and credits, and otherwise in accordance with generally accepted
accounting principles.
5.3. Except as specifically provided in this Agreement or by applicable law, no
Partner shall have the right to withdraw his or her contributions to the capital of the
Partnership.
Section 6
PARTNERSHIP INTERESTS
6.1. Each Partner's interest in the Partnership (his or her "Partnership Interest")
shall be as follows:
Name of Partner Partnership Interest
^ ^%
^ ^%
^ ^%
^ ^%
Total 100%
6.2. All profits and losses, and all items of income, gain, loss, deduction or credit,
shall be shared by the Partners in accordance with their respective Partnership Interests.
Section 7
DISTRIBUTION OF PROFITS
7.1. The Net Cash From Operations (as defined in Section 7.2) of the Partnership
shall be distributed to the Partners in accordance with their respective Partnership Interests at
3
