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Limited Partnership Purchase Agreement

Limited Partnership Purchase Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Limited Partnership Purchase Agreement

"I need a Limited Partnership Purchase Agreement for selling my 30% partnership interest in a Dubai-based real estate development partnership to a Saudi investor, with completion scheduled for March 2025 and including special provisions for existing development projects."

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Document background
The Limited Partnership Purchase Agreement is a crucial document used in the United Arab Emirates for transferring ownership interests in limited partnerships. It is particularly relevant when partners wish to sell their stake in a partnership or when new partners are being introduced to an existing limited partnership structure. The document must comply with UAE Federal Law No. 32 of 2021 on Commercial Companies and various other UAE regulations, including specific emirate-level requirements. This agreement typically includes detailed provisions on purchase price, payment terms, warranties, representations, conditions precedent, and completion mechanics. It also addresses crucial aspects such as regulatory approvals, partner notifications, and registration requirements with the Department of Economic Development. The document is essential for ensuring a smooth and legally compliant transfer of partnership interests while protecting all parties' rights and obligations under UAE law.
Suggested Sections

1. Parties: Identification of all parties involved in the transaction, including the seller(s), purchaser(s), and the limited partnership entity

2. Background: Context of the transaction, including current partnership structure and reason for the transfer

3. Definitions: Definitions of key terms used throughout the agreement

4. Sale and Purchase: Core transaction terms including the partnership interest being sold and purchase price

5. Purchase Price and Payment: Detailed payment terms, including payment method, timing, and any adjustments

6. Conditions Precedent: Conditions that must be satisfied before completion of the transfer

7. Completion: Details of the completion process, timing, and deliverables

8. Seller's Warranties: Warranties given by the seller regarding the partnership interest and business

9. Purchaser's Warranties: Warranties given by the purchaser, including capacity to enter into the agreement

10. Partnership Warranties: Warranties regarding the state of the partnership business

11. Pre-Completion Obligations: Parties' obligations between signing and completion

12. Confidentiality: Provisions regarding confidential information and announcements

13. Notices: Process for giving formal notices under the agreement

14. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes

15. General Provisions: Standard boilerplate clauses including entire agreement, variations, and severability

Optional Sections

1. Anti-Money Laundering Provisions: Required when dealing with regulated sectors or significant transaction values

2. Employee Matters: Include when the transfer affects employment relationships

3. Intellectual Property Rights: Required when the partnership owns significant IP assets

4. Non-Competition Covenants: Include when restricting seller's future business activities

5. Tax Matters: Include when there are specific tax implications or indemnities

6. Environmental Matters: Required when the partnership operates in environmentally sensitive sectors

7. Property Matters: Include when real estate assets are material to the transaction

8. Regulatory Approvals: Required when the transfer needs specific regulatory clearances

Suggested Schedules

1. Partnership Interest Details: Detailed description of the partnership interest being transferred

2. Partnership Agreement: Copy of the current partnership agreement

3. Financial Statements: Recent financial statements of the partnership

4. Properties and Assets: List of material assets owned by the partnership

5. Material Contracts: List and copies of material contracts

6. Intellectual Property: Schedule of IP rights owned or licensed by the partnership

7. Employee Information: Details of employees and their terms of employment

8. Completion Requirements: Detailed list of completion deliverables and requirements

9. Form of Transfer Instrument: Template for the formal transfer document required under UAE law

10. Disclosure Letter: Seller's disclosures against the warranties

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Real Estate

Trading

Manufacturing

Professional Services

Retail

Construction

Healthcare

Technology

Hospitality

Investment

Logistics

Consulting

Import/Export

Financial Services

Relevant Teams

Legal

Finance

Compliance

Corporate Secretariat

Risk Management

Business Development

Investment

Commercial

Due Diligence

Executive Leadership

Treasury

Corporate Affairs

Relevant Roles

Chief Executive Officer

Managing Director

Chief Financial Officer

Legal Counsel

Corporate Secretary

Partnership Manager

Business Development Manager

Investment Manager

Due Diligence Officer

Compliance Officer

Finance Director

Commercial Director

Risk Manager

General Counsel

Business Owner

Managing Partner

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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