PARTNER EXPULSION AGREEMENT  is entered into on 18 September 2025

Between

(1) PARTY_1_NAME, whose principal place of business is at PARTY_1_ADDRESS_SINGLE_LINE (the “Continuing Partner A”);

(2) PARTY_2_NAME, whose principal place of business is at PARTY_2_ADDRESS_SINGLE_LINE (the “Continuing Partner B”); and

(3) PARTY_3_NAME, residing at PARTY_3_ADDRESS_SINGLE_LINE (the “Leaving Partner”).

WHEREAS

 

A. The Leaving Partner will ceased to be a partner with effect from the Cessation Date

B. The Continuing Partners wish to continue carrying on the Business in partnership following the expulsion of the Leaving Partner, in accordance with the provisions of the Partnership Agreement.

C. The Partners have agreed on the terms set out in this Agreement to govern the expulsion of the Leaving Partner.

NOW IS AGREED as follows:

 

1 Definitions and interpretation

In this agreement:

1.1 ‘the Accountants’ means NAME_ADDRESS_ACCOUNTANTS, being the accountants appointed by the Partnership;

1.2 ‘the Accounts’ means a balance sheet as at the Appropriate Accounts Date and a profit and loss account for the Accounting Period ending on that date;

1.3 references to ‘an accounting period’ are references to the period for which the Partners have determined that the accounts of the Partnership are to be made up;

1.4 ‘the Appropriate Accounts Date’ means APPROPRIATE_ACCOUNTS_DATEbeing the last day of the accounting period of the Partnership during which the Cessation Date occurred;