Deed of retirement—limited partnership agreementDEED OF RETIREMENT
Deed of retirement—limited partnership agreementDEED OF RETIREMENT

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

  • Deed of retirement—limited partnership agreementDEED OF RETIREMENT
  • Parties
  • background
  • Schedule 1The Limited Partners
  • Schedule 2The Limited Partnership Agreement
  • Schedule 3The Properties

DRAFTING FOR BREXIT: For the latest information on the impact of Brexit on the drafting, negotiation and enforceability of this Precedent, see Practice Note: Brexit—drafting boilerplate clauses.

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

Parties

  1. 1

    [insert name of retiring general partner] of [insert address] (Retiring General Partner);

  1. 2

    [insert name of new general partner] of [insert address] (New General Partner); and

  1. 3

    The persons whose names and addresses are set out in Schedule 1 (Limited Partners).

background

    1. (A)

      The Partners have been carrying on business in limited partnership under the terms of the Limited Partnership Agreement.

    2. (B)

      The Retiring General Partner is to retire from the Limited Partnership on the Retirement Date and the New General Partner is appointed on [insert date].

    3. (C)

      The provisions of this deed shall apply to the retirement of the Retiring General Partner in place of any provisions of the Partnership Act 1890, the Limited Partnership Act 1907 and the Limited Partnership Agreement that would otherwise apply to the retirement of the Retiring General Partner.

The parties agree:

  1. 1

    Definitions and interpretation

    1. 1.1

      In this deed, unless the context otherwise requires:

    2. Associate

      1. means:

        1. (a)

          any corporation