Partnership Agreement Article Re: Additional Capital Contributions


More Info
									A partnership agreement sets forth the terms and conditions that govern the relationship
between business partners and their obligations to the partnership. Without a written
partnership agreement, state law may determine the default rules as to the rights of
partners and how partnership assets and liabilities will be distributed. Depending on the
goals and purposes of the partnership, various provisions can be included in the
agreement detailing the rules that will govern the relationship between the partners and
what shall occur if specific contingencies arise. This partnership agreement article on
Additional Capital Contributions may be inserted into a partnership agreement and can
be modified depending on the partners’ specific needs.
                                PARTNERSHIP AGREEMENT ARTICLE
                             RE: ADDTIONAL CAPITAL CONTRIBUTIONS

A.      Additional Capital Contributions: Each Partner hereby agrees that, in addition to
his/her/its initial Capital Contribution he/she/it will contribute additional capital to the
Partnership in an amount proportionate to his/her/its ownership interest if the Partners determine,
in their reasonable business judgment, that such contributions are required to enable the
Partnership to continue to operate or do as follows:

Such additional capital contributions shall be made by the Partners within twenty (20) business
days after written notice is received by such Partner setting forth the amount of additional capital

© Copyright 2013 Docstoc Inc. registered document proprietary, copy not                 2

To top