Sample Partnership Separation Agreement

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The partnership was founded according to the laws of, did business under the name , and had its main address in , , (the «Partnership»). 1. RESOLUTION. In accordance with this Agreement and the terms of the Partnership Agreement, the Partners agree that the Partnership shall dissolve with effect (the «Dissolution Date») in accordance with the Section of the Partnership Agreement. Through the formal termination of the partnership, the partners can ensure that they can no longer individually assume responsibility for the debt of the partnership and that no partner can bind the other partners to commercial transactions without the knowledge or agreement of the other partners. A dissolution agreement may be particularly useful if the partnership acted without a partnership agreement or if the existing partnership agreement did not provide for conditions to terminate the partnership. When it comes time to end a partnership, use a partnership termination agreement to avoid misunderstandings, settle your company`s existing commitments, and establish a plan to distribute the partnership assets among the partners. With the exception of the purposes of winding-up and liquidation of the partnership, no partner may, after the date of entry into force of this Agreement, carry out operations or make commitments on behalf of the partnership, as provided for in Section 1415. No waiver of any breach, breach of condition, right or appeal, which is or is granted by the provisions of this Agreement, shall be effective unless signed in writing and by the party waiving the breach, omission, right or remedy.

No waiver of an offence, omission, right or appeal shall be considered a waiver of any other breach, default, right or appeal, whether or not it is a similar offence, and no waiver shall constitute a continuing waiver unless the letter so indicates. The parties thus release themselves from all claims, claims, acts, losses or damages related to the partnership and are released forever. However, each partner remains liable for any claim, claim, action, loss or damage arising out of or resulting from the terms of this dissolution agreement. This Agreement shall constitute the final agreement of the Parties. This is the complete and exclusive expression of the agreement concluded by the parties with regard to the subject matter of this agreement. . . .