Facilitate the exit of a partner and deal with their partnership interest with this Partnership Exit Agreement for an Alberta limited partnership.
- The exiting partner's interest will be purchased by the general partner and the partnership.
- Upon the sale of the interest, the exiting partner is relieved of its rights and obligations under the Partnership Agreement.
- The purchasers will use their best efforts to obtain a release of any guarantees of the partnership's debts given by the exiting partner, and if they fail to do so, will indemnify the exiting partner against any claims or damages.
This Alberta Partnership Exit Agreement
is available in MS Word format, and is fully editable to meet your specific needs.