LLP Agreement definition
Examples of LLP Agreement in a sentence
In the event of the death or legal disability of any partner, the executor, trustee or administrator of such partner shall be bound by the provisions of this LLP Agreement.
Limited Liability Partnership (LLP) Agreement – combines the tax benefits of a general partnership with the personal liability protection of a limited liability company.
In case the defaulting partner fails to make good or cure his default and perform in accordance with the provisions of this LLP Agreement within the said period of 30 days after the notice, any other partner aggrieved by the misconduct shall be at liberty to take legal recourse, in addition to the rights and remedies available under this agreement.
In addition, to the person purchasing the shares of the deceased partner shall sign a Deed of Adherence to the effect that he shall unconditionally honour this LLP Agreement.
Amendments and alterations Subject to the other provisions of this LLP Agreement and the LLP Act, 2008, any term of this agreement may be amended, altered or modified by the unanimous consent of all the partners present in duly convened meeting.