Nevada 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: Nevada Sample Limited Partnership Agreement: DAHLIA Holdings, Inc. and Decade Aircraft Holdings, Inc. Introduction: A Nevada Sample Limited Partnership Agreement is a legally binding document that establishes the terms and conditions of a limited partnership between DAHLIA Holdings, Inc. (hereafter referred to as "General Partner") and Decade Aircraft Holdings, Inc. (hereafter referred to as "Limited Partner"). This agreement outlines the rights, responsibilities, and obligations of each party involved, while providing a solid foundation for a successful partnership in the state of Nevada. Key Terms and Provisions: 1. Formation: This section details the formation of the limited partnership, including its name, principal place of business, effective date, and duration. 2. Contributions: Outlines the capital contributions made by the Limited Partner to the partnership and specifies the ownership interest assigned in return. 3. Profits and Losses: Describes how profits and losses are allocated among the partners as per their ownership percentages, specifying any preferential treatment or limitations. 4. Management: Specifies the role and authority of the General Partner in managing the partnership's affairs, while outlining any limitations or restrictions imposed on the Limited Partner. 5. Responsibilities and Liabilities: Clarifies the duties and responsibilities of both partners, including financial obligations, decision-making processes, and restrictions on partner actions. 6. Distribution of Assets: Specifies the process for distributing partnership assets upon termination or liquidation, including the order of payments to creditors, partners, and other stakeholders. 7. Withdrawal and Transferability: Outlines the procedures and restrictions related to the withdrawal or transfer of ownership interests by the Limited Partner, and the effect of such actions on the partnership. 8. Dissolution and Termination: Details the events that trigger the dissolution of the partnership and the steps to be taken to wind up its affairs and terminate the partnership. Types of Nevada Sample Limited Partnership Agreements: 1. Nevada Sample Limited Partnership Agreement with General Partner Control: — This agreement gives the General Partner complete control over the partnership's operations, decision-making, and management. — The Limited Partner has limited to no involvement in partner decisions and relies on the General Partner's expertise and experience. 2. Nevada Sample Limited Partnership Agreement with Equal Control: — This agreement establishes an equal sharing of control and decision-making between the General Partner and the Limited Partner. — Both partners have equal rights and responsibilities in managing and operating the partnership. 3. Nevada Sample Limited Partnership Agreement with Limited Partner Control: — This agreement allows the Limited Partner to have significant influence and control over the partnership's decisions and activities. — The Limited Partner actively participates in the management and operations of the partnership, alongside the General Partner. Conclusion: A Nevada Sample Limited Partnership Agreement between DAHLIA Holdings, Inc. and Decade Aircraft Holdings, Inc. serves as a contractual framework that outlines the rights, obligations, and responsibilities of both parties entering into a limited partnership. It ensures clear expectations, management structure, and protection for the interests of each partner, providing a solid foundation for a successful business venture. Depending on the desired level of control and involvement, different types of agreements can be chosen to cater to the specific needs of the partnership.

Title: Nevada Sample Limited Partnership Agreement: DAHLIA Holdings, Inc. and Decade Aircraft Holdings, Inc. Introduction: A Nevada Sample Limited Partnership Agreement is a legally binding document that establishes the terms and conditions of a limited partnership between DAHLIA Holdings, Inc. (hereafter referred to as "General Partner") and Decade Aircraft Holdings, Inc. (hereafter referred to as "Limited Partner"). This agreement outlines the rights, responsibilities, and obligations of each party involved, while providing a solid foundation for a successful partnership in the state of Nevada. Key Terms and Provisions: 1. Formation: This section details the formation of the limited partnership, including its name, principal place of business, effective date, and duration. 2. Contributions: Outlines the capital contributions made by the Limited Partner to the partnership and specifies the ownership interest assigned in return. 3. Profits and Losses: Describes how profits and losses are allocated among the partners as per their ownership percentages, specifying any preferential treatment or limitations. 4. Management: Specifies the role and authority of the General Partner in managing the partnership's affairs, while outlining any limitations or restrictions imposed on the Limited Partner. 5. Responsibilities and Liabilities: Clarifies the duties and responsibilities of both partners, including financial obligations, decision-making processes, and restrictions on partner actions. 6. Distribution of Assets: Specifies the process for distributing partnership assets upon termination or liquidation, including the order of payments to creditors, partners, and other stakeholders. 7. Withdrawal and Transferability: Outlines the procedures and restrictions related to the withdrawal or transfer of ownership interests by the Limited Partner, and the effect of such actions on the partnership. 8. Dissolution and Termination: Details the events that trigger the dissolution of the partnership and the steps to be taken to wind up its affairs and terminate the partnership. Types of Nevada Sample Limited Partnership Agreements: 1. Nevada Sample Limited Partnership Agreement with General Partner Control: — This agreement gives the General Partner complete control over the partnership's operations, decision-making, and management. — The Limited Partner has limited to no involvement in partner decisions and relies on the General Partner's expertise and experience. 2. Nevada Sample Limited Partnership Agreement with Equal Control: — This agreement establishes an equal sharing of control and decision-making between the General Partner and the Limited Partner. — Both partners have equal rights and responsibilities in managing and operating the partnership. 3. Nevada Sample Limited Partnership Agreement with Limited Partner Control: — This agreement allows the Limited Partner to have significant influence and control over the partnership's decisions and activities. — The Limited Partner actively participates in the management and operations of the partnership, alongside the General Partner. Conclusion: A Nevada Sample Limited Partnership Agreement between DAHLIA Holdings, Inc. and Decade Aircraft Holdings, Inc. serves as a contractual framework that outlines the rights, obligations, and responsibilities of both parties entering into a limited partnership. It ensures clear expectations, management structure, and protection for the interests of each partner, providing a solid foundation for a successful business venture. Depending on the desired level of control and involvement, different types of agreements can be chosen to cater to the specific needs of the partnership.