Stallion syndications are contractual agreements where multiple parties combine their financial resources to purchase a stallion for breeding purposes. Each contributor or "owner" owns a "fractional interest" in the stallion, typically entitling them to one breeding right per breeding season. The farm or individual syndicating the stallion will generally retain multiple fractional interests. The arrangement provides for lowered costs and a more diverse breeding for the stallion.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Los Angeles California Horse or Stallion Syndication Agreement is a legally binding contract that establishes the terms and conditions under which multiple parties can join together to own and manage a racehorse or stallion for breeding purposes, in the Los Angeles area of California. This agreement encompasses various important clauses and provisions that ensure the smooth functioning of the syndicate, while protecting the interests of all involved parties. It covers essential aspects such as ownership shares, financial contributions, rights and responsibilities, decision-making processes, and profit-sharing arrangements. Some relevant sections or types of Los Angeles California Horse or Stallion Syndication Agreements may include: 1. Ownership and Shareholding: This section outlines the distribution of ownership shares among the syndicate members, specifying the percentage of ownership that each party holds in the horse or stallion. It may include details on the initial purchase of the horse, subsequent acquisitions, and any potential changes in ownership. 2. Financial Contributions: Here, the agreement establishes the financial obligations of each syndicate member. It outlines the manner in which contributions for the purchase, training, boarding, veterinary care, transportation, and other expenses will be made. It also includes provisions related to payment schedules, liability for unpaid expenses, and potential penalties for non-compliance. 3. Management and Decision-Making: This section details how the syndicate will be managed and decisions will be made collectively or through designated managers. It covers areas such as training arrangements, racing decisions, breeding choices, veterinary care, and other operational matters. It may outline voting procedures, meeting requirements, dispute resolution mechanisms, and the roles and responsibilities of each party. 4. Breeding and Stallion Services: If the syndicate revolves around a stallion, this section will define the terms for offering the stallion's services to outside breeders. It may include details about service fees, schedules, quality control measures, breeding rights, mare selection criteria, and other aspects related to stallion syndication. 5. Profit Sharing and Disposal: This clause determines how profits or losses generated from race winnings, stallion stud fees, sale proceeds, or any other revenue streams will be shared among the syndicate members. It outlines the methodology for calculating and distributing the proceeds and provides provisions for dispute resolution in case of disagreement. Additionally, it may stipulate the process and conditions for disposal of the horse or stallion, whether through sale or retirement. The above description provides an overview of what a Los Angeles California Horse or Stallion Syndication Agreement entails, including some possible variations depending on the specific circumstances and requirements of the syndicate.Los Angeles California Horse or Stallion Syndication Agreement is a legally binding contract that establishes the terms and conditions under which multiple parties can join together to own and manage a racehorse or stallion for breeding purposes, in the Los Angeles area of California. This agreement encompasses various important clauses and provisions that ensure the smooth functioning of the syndicate, while protecting the interests of all involved parties. It covers essential aspects such as ownership shares, financial contributions, rights and responsibilities, decision-making processes, and profit-sharing arrangements. Some relevant sections or types of Los Angeles California Horse or Stallion Syndication Agreements may include: 1. Ownership and Shareholding: This section outlines the distribution of ownership shares among the syndicate members, specifying the percentage of ownership that each party holds in the horse or stallion. It may include details on the initial purchase of the horse, subsequent acquisitions, and any potential changes in ownership. 2. Financial Contributions: Here, the agreement establishes the financial obligations of each syndicate member. It outlines the manner in which contributions for the purchase, training, boarding, veterinary care, transportation, and other expenses will be made. It also includes provisions related to payment schedules, liability for unpaid expenses, and potential penalties for non-compliance. 3. Management and Decision-Making: This section details how the syndicate will be managed and decisions will be made collectively or through designated managers. It covers areas such as training arrangements, racing decisions, breeding choices, veterinary care, and other operational matters. It may outline voting procedures, meeting requirements, dispute resolution mechanisms, and the roles and responsibilities of each party. 4. Breeding and Stallion Services: If the syndicate revolves around a stallion, this section will define the terms for offering the stallion's services to outside breeders. It may include details about service fees, schedules, quality control measures, breeding rights, mare selection criteria, and other aspects related to stallion syndication. 5. Profit Sharing and Disposal: This clause determines how profits or losses generated from race winnings, stallion stud fees, sale proceeds, or any other revenue streams will be shared among the syndicate members. It outlines the methodology for calculating and distributing the proceeds and provides provisions for dispute resolution in case of disagreement. Additionally, it may stipulate the process and conditions for disposal of the horse or stallion, whether through sale or retirement. The above description provides an overview of what a Los Angeles California Horse or Stallion Syndication Agreement entails, including some possible variations depending on the specific circumstances and requirements of the syndicate.
