Common use of Type Clause in Contracts

Type. The Partnership is structured as a: (choose one) ☐ - General Partnership (GP). All the Partners agree to hold equal personal responsibility in the Partnership’s liabilities. ☐ - Limited Partnership (LP). The General Partner(s) known as (“General Partner(s)”) agree to bear all responsibility on behalf of the Partnership. All other Partners are limited partners. ☐ - Limited Liability Partnership (LLP). Each Partner is liable for their own negligence or wrongful acts, not financial obligations. ☐ - Limited Liability Limited Partnership (LLLP). The General Partner(s) known as (“General Partner(s)”) and limited partners shall have limited liability.

Type. The Partnership is structured as a: (choose one) ☐ - General Partnership (GP). All the Partners agree to hold equal personal responsibility in the Partnership’s liabilities. ☐ - Limited Partnership (LP). The General Partner(s) known as [GENERAL PARTNER(S) NAME(S)] (“General Partner(s)”) agree to bear all responsibility on behalf of the Partnership. All other Partners are limited partners. ☐ - Limited Liability Partnership (LLP). Each Partner is liable for their own negligence or wrongful acts, not financial obligations. ☐ - Limited Liability Limited Partnership (LLLP). The General Partner(s) known as [GENERAL PARTNER(S') NAME(S)] (“General Partner(s)”) and limited partners shall have limited liability.

Type. The Partnership is structured as a: (choose one) ☐ - General Partnership (GP). All the Partners agree to hold equal personal responsibility in the Partnership’s liabilities. ☐ - Limited Partnership (LP). The General Partner(s) known as (“General Partner(s)”) agree to bear all responsibility on behalf of the Partnership. All other Partners are limited partners. ☐ - Limited Liability Partnership (LLP). Each Partner is liable for their own negligence or wrongful acts, not financial obligations. ☐ - Limited Liability Limited Partnership (LLLP). The General Partner(s) known as (“General Partner(s)”) and limited partners shall have limited liability.

Type. The Partnership is structured as a: (choose one) ☐ - General Partnership (GP). All the Partners agree to hold equal personal responsibility in the Partnership’s liabilities. ☐ - Limited Partnership (LP). The General Partner(s) known as (“General Partner(s)”) agree to bear all responsibility on behalf of the Partnership. All other Partners are limited partners. ☐ - Limited Liability Partnership (LLP). Each Partner is liable for their own negligence or wrongful acts, not financial obligations. ☐ - Limited Liability Limited Partnership (LLLP). The General Partner(s) known as (“General Partner(s)”) and limited partners shall have limited liabilityliability Name The firm name of the Partnership will be: Purpose The purpose of the Partnership will be: Term The Partnership will begin on this day of , 20 and will continue until terminated as provided in this Agreement.