Sale and Assignment of Partnership Interest | USA

Set up a USA limited partnership between a general partner and several limited partners with this Limited Partnership Agreement template.

• The General Partner will not be required to contribute any cash to the capital of the Partnership. The Limited Partners must each purchase a minimum number of units.
• The limited partners are not liable for the debts or liabilities of the Partnership and are not required to make additional capital contributions.
• The liability exposure of the limited partners is limited to the amount of the subscription paid by each of them for their partnership units.
• The General Partner has full authority in the management of the Partnership.
• The agreement includes provisions for withdrawal of the General Partner and assignment of a partnership interest. The Partnership has a right of first refusal to purchase the withdrawing partner's units.