Fund & Expense Limitations

Fund & Expense Limitations

The undersigned consisting of the majority of the general and limited partners of _______________, a limited partnership agree:

That the general partners of _______________ shall maintain a reserve account with a minimum balance of $______(_______________& ___/100 dollars) from initial capital which shall be placed in a separate, interest bearing account.

That the general partners, once the partnership begins operations shall establish a reserve account, which shall be deposited in a separate, interest bearing account. All profits from operations shall be deposited in this account until it reaches the sum of $____(_________________&___/100 dollars).

The reserves shall accumulate and may only be invaded by the general partner upon the following occurrences:
________________________________________________________________

and may only be used for the following purposes:
________________________________________________________________

Dated: ____________________________
_______________ ________________
General Partner General Partner (if more than one; all must sign)

 

Limited Partners shall sign the attached Exhibit One or duplicate originals of the same.
Exhibit One: Names & Addresses of Limited Partners and their signatures
____________________ ______________________ ___________________
Limited Partner Signature Printed Name and Address Social Security Number

____________________ ______________________ ___________________
Limited Partner Signature Printed Name and Address Social Security Number

____________________ ______________________ ___________________
Limited Partner Signature Printed Name and Address Social Security Number

____________________ ______________________ ___________________
Limited Partner Signature Printed Name and Address Social Security Number

____________________ ______________________ ___________________
Limited Partner Signature Printed Name and Address Social Security Number

____________________ ______________________ ___________________
Limited Partner Signature Printed Name and Address Social Security Number

____________________ ______________________ ___________________
Limited Partner Signature Printed Name and Address Social Security Number

____________________ ______________________ ___________________
Limited Partner Signature Printed Name and Address Social Security Number

____________________ ______________________ ___________________
Limited Partner Signature Printed Name and Address Social Security Number

____________________ ______________________ ___________________
Limited Partner Signature Printed Name and Address Social Security Number

____________________ ______________________ ___________________
Limited Partner Signature Printed Name and Address Social Security Number

____________________ ______________________ ___________________
Limited Partner Signature Printed Name and Address Social Security Number

____________________ ______________________ ___________________
Limited Partner Signature Printed Name and Address Social Security Number

____________________ ______________________ ___________________
Limited Partner Signature Printed Name and Address Social Security Number

____________________ ______________________ ___________________
Limited Partner Signature Printed Name and Address Social Security Number

____________________ ______________________ ___________________
Limited Partner Signature Printed Name and Address Social Security Number

Note: Include as many more lines as there are Limited Partners.

Fund & Expense Limitations
Review List

This review list is provided to inform you about this document in question and assist in its preparation. This kind of document is often developed after a partnership gets into trouble. It relates to restricting General Partners use of funds.

1. Make multiple copies. Give them to each related party. Keep one with the partnership records.

Free Printable Fund & Expense Limitations FormFree Printable Fund & Expense Limitations FormFree Printable Fund & Expense Limitations Form

Save

DOWNLOAD ODT FILE DOWNLOAD DOC FILE DOWNLOAD DOCX FILE DOWNLOAD RTF FILE

Leave a Reply