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.
limited liability partnership,
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