Relation to Partnership Sample Clauses
The 'Relation to Partnership' clause defines how the agreement or the parties involved are connected to, or distinct from, a formal partnership. Typically, this clause clarifies that the arrangement does not create a legal partnership, joint venture, or similar relationship, and that neither party has authority to bind the other as a partner would. By explicitly stating the absence of a partnership, the clause helps prevent unintended legal obligations and liabilities that could arise if the relationship were misconstrued as a partnership.
Relation to Partnership. The Participant is presently an employee of, or consultant to, the Partnership, or is otherwise providing services to or for the benefit of the Partnership, and in such capacity has become personally familiar with the business of the Partnership.
Relation to Partnership. Grantee is presently an employee of, or consultant to, the Partnership, or is otherwise providing services to or for the benefit of the Partnership, and in such capacity has become personally familiar with the business of the Partnership.
Relation to Partnership. The Participant is presently (i) an officer or other key employee of the Company or any Affiliate or Subsidiary, or has agreed to commence serving in such capacity within 90 days of the Grant Date, (ii) a person who provides services to the Company or any Affiliate or Subsidiary that are equivalent to those typically provided by an employee, or (iii) a Director, and in such capacity has become personally familiar with the business of the Partnership.
Relation to Partnership. The Participant is presently a Limited Partner and Service Provider, and in such capacity has become personally familiar with the business of the Partnership.
Relation to Partnership. The Participant is presently a Service Provider, and in such capacity has become personally familiar with the business of the Partnership.