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Limited Liability Partnership Contract
1. Parties: Identification and details of all founding partners entering into the LLP agreement
2. Background: Context of the partnership formation and the partners' intention to establish an LLP
3. Definitions: Definitions of key terms used throughout the agreement
4. Formation and Name: Declaration of LLP formation, business name, and registered office details
5. Purpose of Partnership: Detailed description of the partnership's business objectives and scope
6. Capital Contributions: Details of initial and any agreed future capital contributions from each partner
7. Partnership Interests: Specification of each partner's ownership percentage and voting rights
8. Profit and Loss Sharing: Agreement on how profits and losses will be distributed among partners
9. Management Structure: Governance framework, decision-making processes, and partner roles
10. Partner Meetings: Procedures for regular and special partner meetings, voting requirements
11. Financial Management: Banking arrangements, accounting practices, and financial reporting requirements
12. Admission of New Partners: Process and conditions for admitting new partners to the LLP
13. Transfer of Partnership Interest: Rules governing the transfer of partnership interests to other partners or third parties
14. Withdrawal and Retirement: Procedures and terms for partner withdrawal or retirement
15. Dissolution and Winding Up: Circumstances and procedures for partnership dissolution and asset distribution
16. Governing Law: Confirmation of Danish law application and jurisdiction
1. Intellectual Property Rights: Provisions regarding ownership and use of intellectual property, required if the LLP will develop or use significant IP
2. Non-Competition and Confidentiality: Restrictions on partners' competitive activities and handling of confidential information, important for professional services or technology firms
3. Insurance: Requirements for professional indemnity and other insurance coverage, essential for certain professional services
4. Employee Management: Provisions regarding hiring, managing, and terminating employees, needed if the LLP will have employees
5. Dispute Resolution: Alternative dispute resolution procedures like mediation or arbitration, recommended for larger partnerships
6. International Operations: Provisions for international business activities, required if operating across borders
7. Environmental Compliance: Environmental responsibility and compliance measures, necessary for businesses with environmental impact
1. Schedule 1: Capital Contributions: Detailed breakdown of each partner's initial and committed capital contributions
2. Schedule 2: Partner Information: Complete partner details including contact information and professional qualifications
3. Schedule 3: Business Plan: Initial business plan and strategic objectives of the partnership
4. Schedule 4: Management Procedures: Detailed procedures for day-to-day management and decision-making
5. Schedule 5: Financial Procedures: Specific accounting policies, banking arrangements, and financial controls
6. Schedule 6: Property Schedule: List of partnership property and assets, including leases and equipment
7. Appendix A: Partner Resolutions: Template forms for partner resolutions and voting procedures
8. Appendix B: Required Notices: Templates for various notices required under the agreement
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