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Property Development Partnership Agreement
"I need a Property Development Partnership Agreement for a joint venture between my construction company and an investment firm to develop a mixed-use retail and residential complex in Manchester, with an expected project start date of March 2025 and estimated value of £25 million."
1. Parties: Identification and details of all partnership members
2. Background: Context of the partnership and development project
3. Definitions: Key terms used throughout the agreement
4. Partnership Structure: Legal form and governance of the partnership
5. Capital Contributions: Initial and ongoing financial commitments
6. Profit Sharing: Distribution of profits and losses
7. Management and Control: Decision-making processes and authority levels
8. Development Obligations: Specific responsibilities regarding the property development
9. Term and Termination: Duration and exit provisions
10. General Provisions: Standard boilerplate clauses including governing law, notices, and entire agreement
1. External Financing: Terms relating to third-party funding arrangements and associated obligations
2. Intellectual Property: Provisions dealing with IP rights, particularly for unique designs or branding
3. Planning Permissions: Specific obligations and processes relating to obtaining and maintaining planning permissions
4. Phase Development: Provisions for staged development including timelines and specific obligations for each phase
1. Property Details: Legal description and title information of the development property
2. Business Plan: Detailed development strategy, timelines, and objectives
3. Financial Model: Budget, costings and profit projections for the development
4. Plans and Drawings: Development designs, specifications, and architectural drawings
5. Planning Permissions: Copies of existing planning permissions and conditions
6. Services Agreement: Details of services to be provided by each partner
7. Construction Program: Detailed construction timeline, milestones, and delivery schedule
Authors
Applicable Laws
Business Day
Business Plan
Capital Account
Capital Contribution
Commencement Date
Completion
Construction Contract
Development
Development Costs
Development Manager
Development Period
Development Property
Development Works
Effective Date
Event of Default
Financial Year
Good Industry Practice
Gross Development Value
Initial Capital Contribution
Land
Management Committee
Net Profit
Partner(s)
Partnership
Partnership Assets
Partnership Interest
Planning Permission
Practical Completion
Professional Team
Project
Project Account
Project Documents
Property
Relevant Proportion
Reserved Matters
Services
Termination Date
Trigger Event
VAT
Working Capital
Partnership Formation
Partnership Purpose
Term and Duration
Capital Contributions
Profit and Loss Sharing
Management and Control
Decision Making
Development Obligations
Planning and Consents
Construction Obligations
Financial Matters
Bank Accounts
Accounting and Records
Representations and Warranties
Insurance
Intellectual Property
Confidentiality
Non-Competition
Transfer Restrictions
Default
Termination
Exit Provisions
Force Majeure
Dispute Resolution
Notices
Assignment
Variation
Entire Agreement
Severability
Third Party Rights
Governing Law
Jurisdiction
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