Oklahoma Joint Venture Agreement

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                             This Joint Venture Agreement is used when two or more individuals or business entities
                             combine or collaborate on a particular project or undertaking. It specifies each party's
                             percentage of ownership and the joint venturers' rights and duties. Details relating to
                             indemnification, dissolution and an arbitration clause are also specified in the agreement.
                             This document in its draft form contains many of the standard provisions commonly found
                             in a joint venture agreement and may be customized to fit the needs of the contracting
                             parties. This agreement should be used when individuals or companies located in
                             Oklahoma collaborate to form a joint venture.
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                               JOINT VENTURE AGREEMENT

THIS JOINT VENTURE AGREEMENT (hereinafter “Agreement”) is made on _____ [Month]
_____ [Date], 20_____ [Year] by and between ________________________ [Instruction:
Insert the name of first company/corporation], having an address of
________________________ [Instruction: Insert the address of first company/corporation]
(hereinafter “First Joint Venturer”) and ________________________ [Instruction: Insert the
name of second company/corporation], having an address of ________________________
[Instruction: Insert the address of second company/corporation] (hereinafter “Second Joint
Venturer”). First Joint Venturer and Second Joint Venturer may individually be referred to as
“Party”, or collectively as the “Parties”.

   WHEREAS, The Parties wish to make contributions to a common fund for the purpose of
acquiring and holding:

______________________________________________________________________________
______________________________________________________________________________
_____________________________________________________________________________
[Instruction: Insert the type of business interest] called the “Business Interest”; and

    WHEREAS, the Parties wish to form a joint venture (hereinafter “Joint Venture”) under the
laws of Oklahoma by execution of this Agreement for the purpose set forth herein, and wish to
fix and define between themselves their respective responsibilities, interests, and liabilities.

    NOW THEREFORE, in consideration of the mutual covenants and promises herein
contained, the Parties agree to constitute themselves for the purposes before mentioned and
intending to be legally bound hereby, agree as follows:

1. GENERAL PROVISIONS

   a. Purpose

       The Parties form this Joint Venture to acquire and hold the Business Interest in common
       and to provide the finances required for its acquisition. Each Party shall own an
       undivided fractional interest in the business.

   b. Term of the Agreement

       This Joint Venture shall commence on the date first above written and shall continue in
       existence until terminated, liquidated, or dissolved by law or as hereinafter provided.

2. GENERAL DEFINITIONS

   The following comprise the general definitions of terms utilized in this Agreement:



   a. Affiliate


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       An Affiliate of an entity is a person that, directly or indirectly through one or more
       intermediaries, controls, is controlled by, or is under common control of such entity.

   b. Capital Contribution(s)

       The capital contribution(s) to the Joint Venture actually made by the Parties, including
       property, cash, and any additional capital contributions made.

  
				
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Description: This Joint Venture Agreement is used when two or more individuals or business entities combine or collaborate on a particular project or undertaking. It specifies each party's percentage of ownership and the joint venturers' rights and duties. Details relating to indemnification, dissolution and an arbitration clause are also specified in the agreement. This document in its draft form contains many of the standard provisions commonly found in a joint venture agreement and may be customized to fit the needs of the contracting parties. This agreement should be used when individuals or companies located in Oklahoma collaborate to form a joint venture.
This document is also part of a package Essential Oklahoma Legal Documents 144 Documents Included