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ASP Advantage 1993
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The Association of Shareware Professionals Advantage CD-ROM 1993.iso
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partnr02.lex
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1993-03-12
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.TX1 *** PURPOSE CLAUSE FOR PARTNERSHIP - PSYCHIATRY PRACTICE ***
({!P}) To render service to the public in the practice of
psychiatry, which shall consist of the diagnosing, curing or
relieving in any degree of human disease, ailment, defect, or
complaint, whether of physical, emotional, behavioral or mental
origin, by attendance, by advice or by prescribing or furnishing
any drug, medicine, appliance, method or manipulation, or by any
therapeutic agent.
.TX2 *** PURPOSE CLAUSE FOR PARTNERSHIP - PSYCHOLOGY PRACTICE ***
({!P}) To render service to the public in the practice of
psychology, which shall consist of studying, analyzing and
relieving in any degree, human ailments, maladies, defects and
complaints, by providing analysis, attendance or advice regarding
the mental and behavioral traits of individuals or groups.
.TX3 *** PURPOSE CLAUSE FOR PARTNERSHIP - PHYSICAL THERAPY ******
({!P}) To render service to the public in the practice of
physical therapy, which shall include the treatment, curing and
relieving in any degree, of any disease, injury, ailment, or
defect, by attendance and advice, in particular through physical
and mechanical means such as massage, regulated exercise, water,
heat, light and electricity.
.TX4 *** PURPOSE CLAUSE FOR PARTNERSHIP - VETERINARY MEDICINE ***
({!P}) To render service to the public in the practice of
veterinary medicine, which shall include the diagnosing, curing,
preventing or relieving in any degree, of any disease, injury
ailment or defect of animals, by attendance or advice, or by
prescribing any drug, medicine, appliance, manipulation or
method, or by any therapeutic agent and assisting in the raising,
breeding and improving of animals.
.TX5 *** FINANCIAL ARRANGEMENTS PROVISIONS FOR PARTNERSHIP ******
ARTICLE II
FINANCIAL ARRANGEMENTS
2.1 Initial Capital Contributions. Each of the Partners has
contributed to the initial capital of the Partnership property in
the amount and form indicated on Schedule A, attached hereto and
made a part hereof. Capital contributions to the Partnership
shall not earn interest. An individual capital account shall
be maintained for each Partner.
2.2 Additional Capital Contributions. If at any time during the
existence of the Partnership it shall become necessary to
increase the capital with which the Partnership is doing
business, then upon the approval of a majority of the managing
partners, additional capital contributions shall be made, as
follows:
.TX6 *** CAPITAL ADDITIONS TO BE BY LOAN TO PARTNERSHIP *********
No Partner shall be required to contribute to the capital of
this Partnership. Any Partner who shall make a contribution
shall be deemed to have made a loan to such Partnership which
loan shall bear interest at an annual rate of {INTEREST/RATE}
percent, which principal and interest shall have priority over
any and all sums owed to or payable to the Partners from earnings
or as a result of their initial capital contributions.
.TX7 *** CAPITAL ADDITIONS TO BE PROVIDED BY ASSESSMENT *********
Each party to this Agreement shall contribute to the capital
of this Partnership within {ADD/CAP/NOTICE} days notice of such
need in an amount proportionate to his share of the total capital
contributions previously made by all Partners.
.TX8 *** PARTNERS' SHARES OF CAPITAL AND PROFITS ***************
2.3 Share of Profits and Capital. The share of profits and
capital of each Partner, unless otherwise modified by the terms
of this Agreement, shall be as follows:
INITIAL SHARE OF
PARTNER NAME CAPITAL PROFIT
{PART/NAME/SHARE1}
{PART/NAME/SHARE2}
{PART/NAME/SHARE3}
{PART/NAME/SHARE4}
{PART/NAME/SHARE5}
2.4 Interest. No interest shall be paid on any contribution to
the capital of the Partnership.
2.5 Return of Capital Contributions. No Partner shall have the
right to demand the return of his capital contributions, except
as specifically provided herein.
2.6 Rights of Priority. Except as specifically provided in this
Agreement, the individual Partners shall have no right to
priority over the other Partners as to the return of capital
contributions.
2.7 Distributions to Partners. Distributions to the Partners of
net operating profits of the Partnership, as hereinafter defined,
shall be made {DISTRIBUTION/TIME}. Such distributions shall be
made to the Partners simultaneously.
For the purpose of this Agreement, net operating profit for
any accounting period shall mean the Partnership's gross receipts
for such period less the sum of all cash expenses of operation of
the Partnership, and such sums as may be necessary to establish a
reserve for operating expenses.
.TX9 *** NON-CASH EXPENSES NOT COUNTED TO DETERMINE NET INCOME **
In determining the net operating profit, operating expense
deductions for depreciation, amortization, or other similar
charges not requiring expenditures of cash shall not be taken
into account in accordance with generally accepted accounting
principles.
.TX10 *** EARNINGS RETENTION BY PARTNERSHIP AS ADDED CAPITAL ****
In any case, {RETAIN/PERCENT} percent of the Partnership net
income shall be retained by the Partnership as additional capital
contributions of the Partners.
.TX11 *** COMPENSATION OF PARTNERS NOT TO BE PAID ***************
2.8 Compensation of Partners. No Partner shall be entitled to
receive any compensation from the Partnership, nor shall any
Partner receive any drawing account from the Partnership.
.TX12 *** COMPENSATION OF PARTNERS TO BE PAID FOR SERVICES ******
2.8 Compensation of Partners. The Managing Partner or Partners
may pay compensation to the Partners as is deemed reasonable for
the acceptance of responsibilities for Partnership operations or
the performance of duties for the Partnership.
.TX13 *** MANAGING PARTNERS FOR THE PARTNERSHIP NAMED ***********
ARTICLE III
MANAGEMENT
3.1 Managing Partners. The Managing Partners or Partner shall
be {MANAGE/PARTNERS}.
.TX14 *** VOTING TO BE ACCORDING TO PROPORTION OF CAPITAL *******
3.2 Voting of Management Partners. The Managing Partners shall
have the right to vote concerning the management and conduct of
the business of the Partnership according to their proportionate
shares of the total contributions of capital to the Partnership
made by all of them. Except as otherwise herein set forth, a
majority of such capital shall control.
.TX15 *** VOTING TO BE ACCORDING TO DESIGNATED RIGHTS ***********
3.2 Voting of Management Partners. The Managing Partners shall
have the right to vote concerning the management and conduct of
the business of the Partnership, as follows:
PARTNER NAME VOTING RIGHTS
{PART/NAME/VOTE1}
{PART/NAME/VOTE2}
{PART/NAME/VOTE3}
{PART/NAME/VOTE4}
{PART/NAME/VOTE5}
.END *************** END OF PARTNR02 TEXT ***********************