Alberta Limited Partnership Agreement for Buying & Selling Commodities Contracts

Set up an Alberta partnership for buying and selling commodities contracts with this Limited Partnership Agreement template.

• The partnership is being formed for the sole purpose of buying and selling commodities contracts.
• If the capital account drops below 50% of the aggregate capital contributions of the limited partners, the business will end immediately and the partnership will sell all of its commodities contracts.
• The limited partners do not have the authority to manage the partnership, or to execute contracts on its behalf or bind it in any way.
• Each limited partner grants the general partner a power of attorney to execute and register documents on their behalf with respect to establishing and eventually dissolving the partnership.
• If any partner defaults in payment of any amount which he has agreed to pay, the general partner may sell the defaulting partner's units to raise funds to remedy the default.
• Available in MS Word format.
• Intended to be used only in the Province of Alberta, Canada.