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    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.
    • This legal contract template is available as a fully editable and customizable MS Word document.
    • Intended for use only in the Province of Ontario, Canada.
    Download Type: Microsoft Word
    Last Updated: 02-October-2021
    SKU: 1058
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