Deed of retirement from a limited liability partnership
Deed of retirement from a limited liability partnership

The following Corporate precedent provides comprehensive and up to date legal information covering:

  • Deed of retirement from a limited liability partnership
  • background:
  • 1 Definitions and interpretation
  • 2 Retirement
  • 3 Payments to and from a Retiring Member
  • 4 Indemnities and liabilities
  • 5 Post-retirement restrictions
  • 6 Entire agreement
  • 7 Notices
  • 8 Third parties
  • More...

This Deed of retirement is made on [insert day and month] 20[insert year]

Parties

  1. 1

    [insert name of retiring member] of [insert address] (Retiring Member);

  1. 2

    [insert name] LLP a limited liability partnership (registration number OC [insert number]) whose registered office is at [insert address] (LLP); and

  1. 3

    The persons whose names and addresses are set out in Schedule 1 (Continuing Members).

background:

    1. (A)

      The Retiring Member and Continuing Members are members of the LLP.

    1. (B)

      The Retiring Member is to retire from the LLP on the Retirement Date.

    1. (C)

      The provisions of this deed shall apply to the retirement of the Retiring Member in place of any statutory provisions and any provisions of the LLP Agreement that would otherwise apply to the retirement of the Retiring Member.

The parties agree:

    1. 1

      Definitions and interpretation

      1. 1.1

        In this deed:

        Accounting Period

        1. means each period of 12 months ending on the Accounting Reference Date;

        Accounting Reference Date

        1. means [insert date];

        Auditors

        1. means [insert name] or such other firms as the Members may from time to time designate as the auditors of the LLP;

        Business Day

        1. means a day, other than a Saturday, Sunday or public holiday, on which clearing banks are open for non-automated commercial business in the City of London;

        directly or indirectly

        1. means for the purposes of clause 5, acting alone or through or jointly with or on behalf of any other person,

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