Common use of PARTNERSHIP SHARES Clause in Contracts

PARTNERSHIP SHARES. This provision is one of the most important in the agreement. There are several ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ : 6.1. who must contribute what money? 6.2. in what proportions are profits and losses shared? 6.3. do entitlements change when a partner leaves ■ ■ ■ ■ ■ ■ ■ ■ ? 6.4. can a partner be compelled to add capital and what happens when ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ? 6.5. What can a partner draw each month to live on? ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 6.6. What happens if the partnership hits a rough sea and there is not enough money ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ? This and the following two paragraphs should be edited to give effect to what you have decided on these points. We have included a very simple and common approach. However, you can use any formula based on contributions, sales, work done, hours worked, ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ .

PARTNERSHIP SHARES. This provision is one of the most important in the agreement. There are several ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ : 6.15.1. who must contribute what money? 6.25.2. in what proportions are profits and losses shared? 6.35.3. do entitlements change when a partner leaves ■ ■ ■ ■ ■ ■ ■ ■ ? 6.45.4. can a partner be compelled to add capital and what happens when ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ? 6.55.5. What can a partner draw each month to live on? ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 6.65.6. What happens if the partnership hits a rough sea and there is not enough money ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ? This and the following two paragraphs should be edited to give effect to what you have decided on these points. We have included a very simple and common approach. However, you can use any formula based on contributions, sales, work done, hours worked, ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ .