Guam Sample Limited Partnership Agreement between DAH-IP Holdings, Inc. and DeCrane Aircraft Holdings, Inc.

• Category: Corporations - Public - Partnerships
• State: Multi-State
• Control #: US-EG-9359
• Format: Word; Rich Text

Description

Limited Partnership Agreement between DAH-IP Holdings, Inc. and DeCrane Aircraft Holdings, Inc. regarding administration of limited partnership dated November 19, 1999. 13 pages.

Title: Understanding Guam Sample Limited Partnership Agreement between DAHLIA Holdings, Inc. and Decade Aircraft Holdings, Inc. Introduction: A limited partnership agreement serves as a legally binding document between two or more parties, establishing their roles, rights, and responsibilities within a business partnership. In this article, we will delve into the nature of the Guam Sample Limited Partnership Agreement between DAHLIA Holdings, Inc. and Decade Aircraft Holdings, Inc. We will explore the various types of this partnership agreement and shed light on the significance of such an agreement. 1. Partnership Overview: The Guam Sample Limited Partnership Agreement outlines the collaboration between DAHLIA Holdings, Inc. and Decade Aircraft Holdings, Inc. These two entities have come together to establish a limited partnership, pooling their resources, expertise, and capabilities to achieve common objectives in the aviation industry. 2. Structure and Organization: The agreement defines the structure, roles, and responsibilities within the partnership. It outlines the contributions of each partner, including financial investments, intellectual property, and assets. Additionally, it outlines the distribution of profits and losses, decision-making processes, and the authority of each partner. 3. Management and Control: This partnership agreement delineates the management and control structure of the limited partnership. It identifies the general partner(s), usually DAHLIA Holdings, Inc., who retain full authority and maintain control over the partnership's daily operations. The limited partner(s), in this case, Decade Aircraft Holdings, Inc., primarily contribute capital and participate in decision-making, while assuming limited liability. 4. Dissolution and Termination: The agreement addresses the circumstances under which the partnership may be dissolved or terminated. It highlights the process of winding up the partnership's affairs, including the distribution of remaining assets and settlement of liabilities. Termination may occur upon the expiration of a specific period, the achievement of specific objectives, or through mutual agreement. 5. Types of Guam Sample Limited Partnership Agreement: There can be various types of limited partnership agreements tailored to the specific needs and goals of the parties involved. Some common variations include: a) General Limited Partnership Agreement: This agreement allows for multiple general partners, each sharing equal control and unlimited liability. b) Limited Liability Limited Partnership Agreement (LL LP): This agreement offers limited liability protection to all partners, including general partners, shielding them from the personal liability of the partnership's obligations. c) Master Limited Partnership Agreement (MLP): This agreement allows for public trading of limited partner units, providing a liquidity advantage. Conclusion: The Guam Sample Limited Partnership Agreement between DAHLIA Holdings, Inc. and Decade Aircraft Holdings, Inc. serves as a crucial legal framework outlining the terms, expectations, and obligations of both partners. By establishing a well-defined partnership agreement, both entities can work together in synergy, leveraging their collective resources and capabilities for a successful venture within the aviation industry.