Relationship Between Partners Sample Clauses
The 'Relationship Between Partners' clause defines the legal and operational nature of the association between the parties involved, typically clarifying that they are entering into a partnership and outlining the expectations of their collaboration. This clause may specify whether the relationship is that of equal partners, silent partners, or limited partners, and can address issues such as authority to bind the partnership, sharing of profits and losses, and decision-making processes. Its core function is to ensure all parties have a clear understanding of their roles, responsibilities, and the extent of their authority within the partnership, thereby reducing the risk of misunderstandings or disputes regarding the nature of their business relationship.
Relationship Between Partners. Formation and Name of the Partnership 9 2.2 Business of the Partnership 10 2.3 Office of the Partnership 10 2.4 Fiscal Year 10 2.5 Status of Partners 10 2.6 Limitation on Authority of Limited Partners 10 2.7 Power of Attorney 11 2.8 Limited Liability of Limited Partners 12 2.9 Indemnity of Limited Partners 13 2.10 Compliance with Laws 13 2.11 Other Activities of Partners 13
Relationship Between Partners. Representation and Warranty of the General Partner 32 Representations and Warranties of Each Limited Partner 32 Limitations on Authority of Each Limited Partner 33 Unlimited Liability of the General Partner 33 Limited Liability of Each Limited Partner 33 Covenant of General Partner with Respect to the Partnership 33 Covenant of General Partner with Respect to Each Limited Partner 33 Indemnification by the General Partner 34 No Encumbrances or Other Transfers 34 No "Canadian Partnership" 34
Relationship Between Partners. 6 2.1 Formation of the Partnership ...................................................................................6 2.2 Name of the Partnership ...........................................................................................6 2.3 Activities of the Partnership.....................................................................................7 2.4
Relationship Between Partners. 2.1 The partner organisations may collaborate to submit proposals to donors jointly seeking funding to carry out programmes. Where funding is secured, whichever of Partner Organisations is receiving funding from the donor and therefore has legal responsibility to the donor for expenditure of the funds on the implementation of the Programme will be the lead partner in the partnership. Notwithstanding this, the relationship between the Partner Organisations will be one of equality, transparency and mutual accountability. Each Partner Organisation shall be consulted and their input sought on all issues fundamental to the programme, with each expected to reply within a reasonable amount of time. Communications between the Partner Organisations will at all times be respectful and courteous. If there is a disagreement about how to proceed during the programme, MRG and xxxx will take reasonable steps to try to negotiate a solution or otherwise resolve the issue. If these steps are not successful, whichever partners is the lead partner (i.e. the partner in receipt of funding from the largest donor supporting a programme) will have the final say in resolving any pending issues. Prior to any such decision, the lead partner will inform the other partner both verbally and in writing and will allow the other partner one week to reply.
Relationship Between Partners. Status of General Partner
3.1 The General Partner represents and warrants to and covenants with each Limited Partner that:
(a) the General Partner is and will continue to be a valid and subsisting corporation under the laws of British Columbia or such other jurisdiction under which the General Partner is continued or under which a successor to the General Partner is incorporated, amalgamated or continued, and is and will continue to be qualified to carry on business in British Columbia and in every other jurisdiction in which that qualification is necessary, and
(b) the General Partner has and will continue to have the legal capacity and authority to act as the General Partner and to perform its obligations under this Agreement, and those obligations do not and will not conflict with or constitute a default under its constating documents or any agreement by which it is bound.
3.2 Each Limited Partner represents and warrants to and covenants with each other Partner that such Limited Partner:
(a) is, and while a Holder will continue to be, “resident” in Canada within the meaning of the Tax Act;
(b) is not, and while a Holder will never be, a “non-Canadian” within the meaning of the Investment Canada Act (Canada);
(c) has and will continue to have the capacity and competence to enter into and be bound by this Agreement; and
(d) will, at the request of the General Partner, from time to time provide such evidence of compliance with such representations, warranties and covenants as the General Partner requires.
Relationship Between Partners. 2.1 Formation and Name of the Partnership. 14 2.2 Purpose of the Partnership. 14
2.3 Office of the Partnership. 15
2.4 Fiscal Year 15 2.5 Status of Partners. 15 2.6 Limitation on Authority of Limited Partners. 16
Relationship Between Partners