Four Parties Limited Liability Partnership Agreement (LLP) will be established under local law. It provides a basic Partnership framework only. This agreement is drafted to impose strict / tight obligations on the Members.
P1, P2, P3 and P4 wish to establish a limited liability partnership in [TERRITORY] under the name of [NAME] (the LLP) for the purpose of [BUSINESS].
P1, P2, P3 and P4 wish to regulate their relationship as members in the LLP and the management of the LLP in accordance with the terms of this Agreement.
This Agreement is effective from the Effective Date and continues until terminated in accordance with the terms of this Agreement.
The Members shall complete and deliver to Companies House all such documents and pay all such fees as shall be necessary to lead to the incorporation of the LLP in accordance with the laws of [TERRITORY].
The certificate of registration of the LLP issued under the Act shall be kept at the registered office of the LLP.
In the event that any Member may be personally liable under any contract entered into by him prior to the incorporation of the LLP which was for the benefit of the LLP and with the express or implied consent of the other Members then the LLP shall on incorporation be deemed to ratify that contract and shall indemnify that Member from and against all claims, liabilities and costs in connection with it.
limited liability partnership,