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Partnership Agreement Amendment Template
I need a Partnership Agreement Amendment Template to add two new partners to our medical practice partnership and adjust profit-sharing ratios accordingly, with the changes to take effect from March 1, 2025.
1. Parties: Details of all current partners and any incoming/outgoing partners
2. Background: Reference to original agreement and reason for amendment
3. Definitions: Key terms including any new definitions required for the amendment
4. Amendment Details: Specific clauses being amended, deleted or added
5. Effective Date: When the amendments take effect
6. Confirmation of Other Terms: Statement that all other terms remain unchanged
1. Capital Contributions: Section detailing changes to partner capital contributions and financial structure
2. Profit Sharing: Section specifying modifications to profit sharing arrangements between partners
3. Management Rights: Section outlining changes to management structure and decision-making powers
4. Exit Provisions: Section detailing modified retirement or exit terms for partners
1. Schedule of Amendments: Detailed list of all modifications to original agreement
2. Updated Partner Details: Current partner information including ownership percentages
3. Revised Financial Provisions: Updated financial terms and arrangements
4. Consents and Waivers: Required third-party consents or partner waivers
Authors
Amendment Date
Business
Capital Account
Capital Contribution
Commencement Date
Effective Date
Existing Partners
Financial Year
Initial Partnership Agreement
New Partners
Original Agreement
Partner
Partnership
Partnership Assets
Partnership Board
Partnership Property
Partnership Share
Profit Share
Profits
Retiring Partner
Senior Partner
Territory
Variation
Working Capital
Appointments and Removals
Capital Contributions
Commencement and Duration
Confidentiality
Confirmation of Original Terms
Decision Making
Distribution of Profits
Duties and Responsibilities
Entire Agreement
Governing Law
Intellectual Property Rights
Management Structure
Non-Competition
Notice Requirements
Partner Retirement
Partnership Assets
Partnership Name
Partnership Property
Profit Sharing Ratios
Restrictive Covenants
Severability
Termination Rights
Third Party Rights
Variation and Waiver
Voting Rights
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