Limited Liability Partnership Clause Examples

Limited Liability Partnership. ■ Or full name(s) of proprietor / partners:............................................................ Sole Trader ■ Invoice / notice address: .................................................................................. Partnership ■ HERTSMERE BOROUGH COUNCIL (HBC) COLLECTION OF TRADE REFUSE TERMS AND CONDITIONS OF SUPPLY OF SERVICE

Limited Liability Partnership. (LLP) Accounts - A limited liability partnership exists when a partner is not liable for a negligent act committed by another partner or by an employee not under the partner’s supervision.

Limited Liability Partnership. The Managing Partner shall determine the timing and amounts of distributions and such determination shall be binding on all Partners. The net income of the Partnership shall be proportionally allocated to and any net losses of the Partnership shall be borne proportionally by the Partners as such percentages are set forth in Schedule A hereto. No Partner is entitled to priority preference in any distribution from the Partnership. No Partner shall be entitled to make withdrawals from his individual account or have returned to him his capital contributions except in accordance herewith. All distributions shall be made in cash. Management of Partnership: (Check One) ☐ - Partnership: The business and affairs of the Company shall be conducted and managed by the Partners in accordance with this Agreement and the laws of the State of Arizona. Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation and control of the business and affairs of the Partnership and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Partners holding a majority of the percentage interest of the Partnership. Notwithstanding any other provision of this Agreement, the Partners shall not, without the prior written consent of the unanimous vote or consent of the Partners, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Partnership; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Partnership’s assets; mortgage, pledge or encumber the Partnership’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the Partnership in the excess of $__________.00; lend any Partnership funds or other assets to any person in an amount or with a value in excess of $___________.00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $_____________.00; confess a judgment against the partnership; settle, compromise or release, discharge or pay any claim, demand or debt in excess of $_________.00, including claims for insurance; approve a merger or consolidation of the Partnership with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character...

Limited Liability Partnership. Hybrid form of business; - Combines the liability shield of a corporation with the federal tax classification as a partnership; - Type of general partnership – typically regulated by the statutes on general partnership - Essentially a general partnership with limited liability protection - Hybrid form of business; - Combines the liability shield of a corporation with the federal tax classification as a partnership (check-the-box regulations) - Type of limited partnership – typically regulated by the statutes on limited partnership - Essentially limited partnership with limited liability protection.

Limited Liability Partnership. (LLP) Documents–Partnership Agreement, Certificate as to Partners, Certificate of Partnership or Good Standing (or equivalent) as applicable, and evidence of registration with the appropriate authority.

Limited Liability Partnership. To the extent permitted by law, the Partnership will be treated as a partnership for federal, state and local income tax purposes.

Limited Liability Partnership. Husch Xxxxxxxxx LLP is organized as a limited liability partnership under Delaware law. This means every attorney in our firm who either directly performs or supervises legal services for you will have full professional responsibility and legal liability for those services, in addition to the firm itself. However, individual attorneys in the firm who have no direct involvement or supervisory role in your representation will not have any personal liability for the legal services performed by others in the firm.

Limited Liability Partnership delete if the Sub-Consultant is a company sole principal or a partnership] Insert Sub-Consultant’s full company name EXECUTED and DELIVERED as a DEED by ………………………………… acting by: ………………………………………… Member …………………………………………Member

Limited Liability Partnership. No Partner shall be personally liable or accountable, directly or indirectly (including by way of indemnification, contribution, assessment or otherwise), for debts, obligations and liabilities of, or chargeable to, the Partnership, or another Partner or Partners, whether arising in tort, contract or otherwise, solely by reason of being a Partner or acting (or omitting to act) in such capacity, which such debts, obligations and liabilities occur, are incurred or are assumed while the Partnership is a limited liability partnership .