Kings New York Amended and Restated Agreement of Limited Partnership

• Category: Corporations - Public - Restructuring
• State: Multi-State
• County: Kings
• Control #: US-CC-7-1425
• Format: Word; Rich Text

Description

This sample form, a detailed Amended and Restated Agreement of Limited Partnership document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats. Kings New York Amended and Restated Agreement of Limited Partnership is a legal document that governs the terms and conditions of a limited partnership in the state of New York. This agreement outlines the rights, responsibilities, and obligations of the general partners and limited partners involved in the partnership. Key terms and provisions that are typically included in the Kings New York Amended and Restated Agreement of Limited Partnership may cover the following aspects: 1. Partnership Structure: The agreement outlines how the partnership is organized, including the names of the partners, the capital contributions made by each partner, and the ownership interests of each partner. 2. General and Limited Partners: The document distinguishes between general partners, who hold management and decision-making authority, and limited partners, who typically have no say in the day-to-day operations of the partnership but instead provide capital investment. 3. Liability: It specifies that the general partners have unlimited personal liability for the partnership's debts and obligations, while limited partners' liability is typically limited to their respective capital contributions. 4. Profit and Loss Allocation: The agreement details the manner in which profits and losses are allocated among the partners, which is usually based on the percentage of ownership interests. 5. Duties and Responsibilities: It outlines the duties and responsibilities of the general partners, such as managing the partnership's affairs, making investment decisions, and securing financing. Limited partners typically have limited involvement in the partnership's management. 6. Decision-Making: The agreement may establish the decision-making process within the partnership, including voting rights and procedures for major partnership decisions, such as admitting new partners or making changes to the partnership structure. 7. Withdrawal and Dissolution: It defines the procedures for a partner's withdrawal or termination, as well as the process for dissolving the partnership, including the distribution of assets upon dissolution. Some variations of Kings New York Amended and Restated Agreement of Limited Partnership might include specific provisions tailored to different types of partnerships, such as real estate partnerships, investment partnerships, or private equity partnerships. It is crucial to note that while this content provides a general overview of what can be found in a typical Kings New York Amended and Restated Agreement of Limited Partnership, it is always recommended seeking legal advice and reference the specific agreement for accurate and up-to-date information.

Kings New York Amended and Restated Agreement of Limited Partnership is a legal document that governs the terms and conditions of a limited partnership in the state of New York. This agreement outlines the rights, responsibilities, and obligations of the general partners and limited partners involved in the partnership. Key terms and provisions that are typically included in the Kings New York Amended and Restated Agreement of Limited Partnership may cover the following aspects: 1. Partnership Structure: The agreement outlines how the partnership is organized, including the names of the partners, the capital contributions made by each partner, and the ownership interests of each partner. 2. General and Limited Partners: The document distinguishes between general partners, who hold management and decision-making authority, and limited partners, who typically have no say in the day-to-day operations of the partnership but instead provide capital investment. 3. Liability: It specifies that the general partners have unlimited personal liability for the partnership's debts and obligations, while limited partners' liability is typically limited to their respective capital contributions. 4. Profit and Loss Allocation: The agreement details the manner in which profits and losses are allocated among the partners, which is usually based on the percentage of ownership interests. 5. Duties and Responsibilities: It outlines the duties and responsibilities of the general partners, such as managing the partnership's affairs, making investment decisions, and securing financing. Limited partners typically have limited involvement in the partnership's management. 6. Decision-Making: The agreement may establish the decision-making process within the partnership, including voting rights and procedures for major partnership decisions, such as admitting new partners or making changes to the partnership structure. 7. Withdrawal and Dissolution: It defines the procedures for a partner's withdrawal or termination, as well as the process for dissolving the partnership, including the distribution of assets upon dissolution. Some variations of Kings New York Amended and Restated Agreement of Limited Partnership might include specific provisions tailored to different types of partnerships, such as real estate partnerships, investment partnerships, or private equity partnerships. It is crucial to note that while this content provides a general overview of what can be found in a typical Kings New York Amended and Restated Agreement of Limited Partnership, it is always recommended seeking legal advice and reference the specific agreement for accurate and up-to-date information.