Set up an Alberta partnership with this Limited Partnership Agreement for Buy-Sell of Commodities Contracts.
- The partnership is being formed for the purpose of buying and selling commodities contracts under a special program developed exclusively for the partnership.
- 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.
This Alberta Limited Partnership Agreement for Buy-Sell of Commodities Contracts
is available in MS Word format and is fully editable to meet your business needs.