Three 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 and P3 wish to establish a limited liability partnership in [TERRITORY] under the name of [NAME] (the LLP) for the purpose of [BUSINESS].
P1, P2 and P3 wish to regulate their relationship as members in the LLP and the management of the LLP in accordance with the terms of this Agreement.
The Business is [BUSINESS].
The Business shall be conducted in the best interests of the LLP on sound commercial profit-making principles in accordance with the Business Plan. The Members shall use all reasonable endeavours to procure its prompt and effective implementation.
The name of the LLP shall be [NAME] (or such other name as the Members agree).
The Members may from time to time determine upon a change in the name and/or the registered office of the LLP.
Upon any change in the name and/or the registered office of the LLP it shall be the responsibility of the Designated Members to notify Companies House of any such change in accordance with the Act.