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Assignment Of Limited Partnership Interest

Assignment Of Limited Partnership Interest Template for Ireland

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Key Requirements PROMPT example:

Assignment Of Limited Partnership Interest

"I need an Assignment of Limited Partnership Interest agreement under Irish law for transferring a 25% partnership interest in a real estate investment partnership, with completion scheduled for March 15, 2025, and including standard representations and warranties."

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Document background
An Assignment Of Limited Partnership Interest is a crucial document used when transferring ownership interests in a limited partnership from one party to another in Ireland. This document is essential when a limited partner wishes to exit their investment or transfer their partnership interest to another entity or individual. It must comply with the Limited Partnerships Act 1907, Partnership Act 1890, and other relevant Irish legislation. The agreement typically includes detailed information about the partnership interest being transferred, consideration for the transfer, representations and warranties from both parties, and necessary consents from the General Partner and other stakeholders. It's particularly important in investment structures, private equity arrangements, and other business ventures where limited partnerships are used as vehicles for investment and business operations.
Suggested Sections

1. Parties: Identifies the Assignor (current limited partner), Assignee (new limited partner), and the General Partner(s) of the partnership

2. Background: Sets out the context of the assignment, including details of the existing partnership interest and the intention to transfer

3. Definitions: Defines key terms used throughout the agreement

4. Assignment: Core clause detailing the transfer of the partnership interest from Assignor to Assignee

5. Consideration: Specifies the payment or other consideration for the assignment

6. Effective Date: Establishes when the assignment takes effect

7. Representations and Warranties: Standard representations by both Assignor and Assignee regarding their capacity and authority to enter into the agreement

8. General Partner Consent: Documents the General Partner's consent to the assignment as required by partnership agreement

9. Obligations and Liabilities: Details the ongoing obligations and liabilities of both parties post-assignment

10. Further Assurance: Commitment to execute additional documents if needed to effect the transfer

11. Governing Law and Jurisdiction: Specifies Irish law as governing law and Irish courts' jurisdiction

12. Execution: Signature blocks for all parties

Optional Sections

1. Tax Matters: Include when specific tax allocations or responsibilities need to be addressed

2. Regulatory Approvals: Include when the transfer requires regulatory notifications or approvals

3. Confidentiality: Include when specific confidentiality provisions are needed beyond those in the partnership agreement

4. Transfer Restrictions: Include when there are specific restrictions on further transfers by the Assignee

5. Partial Assignment: Include when only a portion of the partnership interest is being transferred

6. Spousal Consent: Include when required by family law considerations or partnership agreement

7. Power of Attorney: Include when specific powers need to be granted to effect the transfer

Suggested Schedules

1. Partnership Interest Details: Detailed description of the partnership interest being transferred, including percentage ownership and capital account balance

2. Partnership Agreement: Copy or relevant excerpts of the existing partnership agreement

3. Required Consents: Copies of all required consents from other partners or third parties

4. Transfer Requirements Checklist: List of all administrative and regulatory requirements for completing the transfer

5. Payment Terms: If applicable, detailed payment schedule and mechanisms

6. Regulatory Filings: Copies of any required regulatory filings or notifications

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions







































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Relevant Industries

Financial Services

Private Equity

Real Estate

Investment Management

Venture Capital

Professional Services

Asset Management

Infrastructure

Healthcare

Technology

Relevant Teams

Legal

Finance

Compliance

Corporate Secretariat

Investment

Fund Administration

Tax

Risk Management

Corporate Development

Partnership Administration

Relevant Roles

Partner

Managing Director

Chief Financial Officer

Legal Counsel

Investment Manager

Fund Manager

Compliance Officer

Corporate Secretary

Finance Director

Investment Director

Transaction Manager

Partnership Administrator

Risk Manager

General Counsel

Tax Director

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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