Ontario Partnership Agreement with Special Unit Provisions

Prepare a Partnership Agreement for an Ontario partnership with this template, which provides for a special partnership unit to be issued for assets vended in.

• Ordinary partnership units are issued to the partners in accordance with their financial contributions, and a special unit is issued to one partner which has vended in certain assets to be used by the partnership business.
• The holder of the special unit will be allocated profits (or losses) in addition to those allocated among the ordinary units.
• Partnership units of a withdrawing partner will be distributed among the remaining partners pro rata their holdings, except for the special unit, which will be redeemed in exchange for a promissory note.