THIS LIMITED LIABILITY PARTNERSHIP AGREEMENT is entered into on 22 December 2024

Between

(1)            PARTY_1_NAME whose principal place of business is at PARTY_1_ADDRESS_SINGLE_LINE (P1)

(2)            PARTY_2_NAME whose principal place of business is at PARTY_2_ADDRESS_SINGLE_LINE (P2)

Whereas

(A) P1 and P2 wish to establish a liability limited partnership in TERRITORY under the name of NAME (the LLP) for the purpose of BUSINESS.

(B) P1 and P2 wish to regulate their relationship as members in the LLP and the management of the LLP in accordance with the terms of this Agreement.

 

It is agreed as follows:

1. Interpretation

Definitions

1.1 In this Agreement the following expressions have the following meanings:

Accounting Period, with respect to the LLP, means the period from and including FIN_YEAR in any calendar year to and excluding FIN_YEAR in the following year or such other period or periods as the Members may determine;

Affiliate, in relation to any Member, means any subsidiary or holding company for the time being of that Member and any other subsidiary for the time being of that holding company;

Accounts means the accounts of the LLP audited by the Auditors in accordance with clause 12;

Auditors means AUDITOR or such other firm as the LLP Board may subsequently appoint by the Designated Members;

Budget means the budget for each Accounting Period of the LLP prepared pursuant to clause 13;

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