When payment, the value of the partnership established on the reference date (point 8) is used to determine the value of the partner`s account. The partnership will implement operational procedures governing the specific implementation of partnership business in accordance with this agreement. These operating procedures are adopted and may be modified from time to time by the majority of the partners` meeting, which meets the requirements for managing club operations (point 5). Buy an investment for the partnership that will pay less than the total purchase price. Voluntary (partial or total) resignation of a partner. Each partner can withdraw some or all of the value of their capital account in the partnership and the partnership is maintained as a taxable entity. Names. The name of the partnership is [REGISTERED CLUB NAME] . amending the partnership agreement. This partnership agreement may be amended from time to time after the approval of all partners whose capital accounts represent at least two-thirds of the value of all capital accounts. The meeting`s written or e-mail communications considering amending the partnership agreement contain a specific reference and a brief description of the issue to be considered. Have the right or authority to engage or engage the partnership in any measure with respect to all things that are not part of the partnership.
Ending the partnership. The partnership can be terminated by the agreement of partners whose capital accounts represent the majority of the capital accounts of all partners. The written announcement of a meeting to consider ending the partnership contains a specific reference to this issue. If a termination decision is made, the decision is communicated in writing or by email to all partners. The payment is then made from all of the company`s liabilities, and a final allocation of the remaining assets, in cash or in kind, is made without delay, until the current transactions and a final invoice do not take place. Payment is made to partners or their personal representatives in relation to each partner`s capital account. A partner who withdraws some or all of the value of his or her capital account must report it in writing or by email to partner agents. The written notification is deemed to have been received at the first meeting of the partnership at which it is presented. When a written notification is received between meetings, it is treated as at the next meeting.