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Real Estate Partnership Operating Agreement
"I need a Real Estate Partnership Operating Agreement for a three-partner venture focusing on commercial property development in London, with specific provisions for profit sharing based on different capital contributions and a development project starting in March 2025."
1. Parties: Details of all partners and their contact information
2. Background: Context of partnership formation and business objectives
3. Definitions: Key terms used throughout the agreement
4. Partnership Structure: Legal form, name, and principal place of business
5. Capital Contributions: Initial and ongoing capital requirements
6. Profit and Loss Sharing: Distribution mechanism and ratios
7. Management Rights: Decision-making processes and authority levels
8. Transfer of Interests: Rules for selling or transferring partnership interests
1. Special Purpose Vehicles: Additional provisions for when specific property investments require separate entities
2. Foreign Investment Provisions: Additional rules and requirements for partnerships involving non-UK partners
3. Development Provisions: Specific rules and procedures for property development activities within the partnership
1. Schedule 1: Property Portfolio: Comprehensive list of properties owned by the partnership
2. Schedule 2: Capital Accounts: Detailed breakdown of partner contributions and capital accounts
3. Schedule 3: Management Procedures: Detailed operational procedures and management protocols
4. Appendix A: Property Management Agreement: Template or executed agreement for external property management services
5. Appendix B: Valuation Methodology: Agreed methods and procedures for property valuation
Authors
Accounting Period
Additional Capital Contribution
Adjusted Capital Account
Affiliate
Approved Budget
Business Day
Business Plan
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Default Event
Development Project
Distributable Cash Flow
Effective Date
Encumbrance
Financial Year
Initial Capital Contribution
Investment Committee
Investment Period
Law
Major Decision
Management Fee
Managing Partner
Net Asset Value
Operating Expenses
Partnership
Partnership Assets
Partnership Interest
Partnership Property
Profit and Loss
Property Manager
Qualifying Transfer
Real Estate Asset
Related Party
Reserved Matters
Security Interest
Special Purpose Vehicle
Transfer
Valuation
Voting Rights
Partnership Formation
Partnership Purpose
Duration
Capital Contributions
Additional Capital
Capital Accounts
Profit and Loss Distribution
Management Rights
Voting Rights
Investment Committee
Decision Making
Reserved Matters
Property Management
Bank Accounts
Accounting and Records
Reporting Requirements
Transfer Restrictions
Right of First Refusal
Tag-Along Rights
Drag-Along Rights
Default
Removal of Partners
Withdrawal Rights
Confidentiality
Non-Competition
Non-Solicitation
Intellectual Property
Insurance
Indemnification
Force Majeure
Amendments
Dissolution
Winding Up
Dispute Resolution
Governing Law
Notices
Assignment
Severability
Entire Agreement
Third Party Rights
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