Maine Sample Limited Partnership Agreement between Shearson Regional Malls, Inc. and Shearson Regional Malls Depositary Corp.

• Category: Corporations - Public - Limited Partnerships
• State: Multi-State
• Control #: US-EG-9173
• Format: Word; Rich Text

Description

Amended and Restated Agr. of Limited Partnership of Shopco Regional Malls, LP btwn Shearson Regional Malls, Inc. and Shearson Regional Malls Depositary Corp. dated October 6, 1998. 67 pages Maine Sample Limited Partnership Agreement between She arson Regional Malls, Inc. and She arson Regional Malls Depository Corp. is a legally binding contract that outlines the terms and conditions governing the partnership between these two entities. It is designed to establish their roles, rights, obligations, and responsibilities in the joint operation of a regional mall business in the state of Maine. This partnership agreement covers various key aspects necessary for the smooth functioning of the partnership. It begins with the identification of the parties involved, clearly stating that She arson Regional Malls, Inc. (referred to as the "General Partner") and She arson Regional Malls Depository Corp. (referred to as the "Limited Partner") are entering into this agreement. The agreement outlines the purpose of the partnership, which is primarily the operation and management of a regional mall in Maine. It specifies the financial contributions made by each partner, defining the capital contributions and respective ownership interests of the General Partner and Limited Partner. The agreement also discusses the profit and loss allocation, stating how the profits and losses will be divided between the two partners based on their ownership interests. It establishes the decision-making process, clarifying that the General Partner has the authority to manage the day-to-day operations and make important business decisions, while providing a framework for the Limited Partner's rights to be involved in major decisions. Furthermore, the agreement covers the distribution of cash flow, stating how the partnership's net income will be distributed among the partners. It also addresses the tax obligations and responsibilities of each partner, ensuring compliance with state and federal tax laws. In addition to the main provisions, the Maine Sample Limited Partnership Agreement may have variations depending on the specific needs or circumstances of the partners. Some potential types of Limited Partnership Agreements include: 1. Limited Liability Partnership (LLP): This type of partnership agreement provides limited liability protection to all partners, shielding their personal assets from the liabilities of the business. 2. Silent Partnership Agreement: In a silent partnership, the Limited Partner provides capital to the General Partner but does not actively participate in the management or decision-making of the business. 3. Joint Venture Agreement: This agreement may be used when the partnership is established to undertake a specific project or business venture rather than ongoing operations. 4. Strategic Partnership Agreement: In this type of agreement, the partnership is formed to leverage the complementary strengths and resources of both partners for mutual benefit. Overall, the Maine Sample Limited Partnership Agreement between She arson Regional Malls, Inc. and She arson Regional Malls Depository Corp. is a comprehensive document that governs the rights, responsibilities, and operations of the partnership, ensuring a clear understanding and effective collaboration between the two entities in the regional mall business in Maine.

Maine Sample Limited Partnership Agreement between She arson Regional Malls, Inc. and She arson Regional Malls Depository Corp. is a legally binding contract that outlines the terms and conditions governing the partnership between these two entities. It is designed to establish their roles, rights, obligations, and responsibilities in the joint operation of a regional mall business in the state of Maine. This partnership agreement covers various key aspects necessary for the smooth functioning of the partnership. It begins with the identification of the parties involved, clearly stating that She arson Regional Malls, Inc. (referred to as the "General Partner") and She arson Regional Malls Depository Corp. (referred to as the "Limited Partner") are entering into this agreement. The agreement outlines the purpose of the partnership, which is primarily the operation and management of a regional mall in Maine. It specifies the financial contributions made by each partner, defining the capital contributions and respective ownership interests of the General Partner and Limited Partner. The agreement also discusses the profit and loss allocation, stating how the profits and losses will be divided between the two partners based on their ownership interests. It establishes the decision-making process, clarifying that the General Partner has the authority to manage the day-to-day operations and make important business decisions, while providing a framework for the Limited Partner's rights to be involved in major decisions. Furthermore, the agreement covers the distribution of cash flow, stating how the partnership's net income will be distributed among the partners. It also addresses the tax obligations and responsibilities of each partner, ensuring compliance with state and federal tax laws. In addition to the main provisions, the Maine Sample Limited Partnership Agreement may have variations depending on the specific needs or circumstances of the partners. Some potential types of Limited Partnership Agreements include: 1. Limited Liability Partnership (LLP): This type of partnership agreement provides limited liability protection to all partners, shielding their personal assets from the liabilities of the business. 2. Silent Partnership Agreement: In a silent partnership, the Limited Partner provides capital to the General Partner but does not actively participate in the management or decision-making of the business. 3. Joint Venture Agreement: This agreement may be used when the partnership is established to undertake a specific project or business venture rather than ongoing operations. 4. Strategic Partnership Agreement: In this type of agreement, the partnership is formed to leverage the complementary strengths and resources of both partners for mutual benefit. Overall, the Maine Sample Limited Partnership Agreement between She arson Regional Malls, Inc. and She arson Regional Malls Depository Corp. is a comprehensive document that governs the rights, responsibilities, and operations of the partnership, ensuring a clear understanding and effective collaboration between the two entities in the regional mall business in Maine.