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PARTNERSHIP AMENDMENT AGREEMENT
THIS PARTNERSHIP AMENDMENT AGREEMENT (the "Amendment") made and entered into this ________ day of ________________, ________ (the "Execution Date"),BETWEEN:
____________________ of _________________________, and ____________________ of _________________________(individually the "Partner" and collectively the "Partners").
BACKGROUND:
IN CONSIDERATION OF and as a condition of the Partners entering into this Amendment and other valuable consideration, the receipt and sufficiency of which consideration is acknowledged, the parties to this Amendment agree as follows:
IN WITNESS WHEREOF the parties have duly affixed their signatures under hand and seal on this ________ day of ________________, ________.
_____________________________________________________(Partner)
Last Updated December 26, 2024
A Partnership Amendment, also called a Partnership Addendum, is used to modify, add, or remove terms in a Partnership Agreement. A Partnership Amendment is usually attached to an existing Partnership Agreement to reflect any changes.
A Partnership Amendment is used when two or more partners want to make changes to their Partnership Agreement. Partners can be individuals, corporations, Limited Liability Companies (LLCs), or other general partnerships.
Some examples of reasons to amend your Partnership agreement could be:
The amendment is attached to the Partnership Agreement to reflect the changes that the partners agreed upon. A Partnership Agreement may be amended in accordance with the terms of that agreement.
If the Partnership Agreement has been amended before, it's important to note in the most recent addendum that there have been previous amendments. The order of the amendments helps to ensure that the document is up-to-date. All amendments should be attached to the original Partnership Agreement.
If you need to make major edits to the Partnership Agreement that change most of the original content, or you've made a large number of amendments in the past, it may be better to make a new Partnership Agreement rather than use an amendment.
The following information is generally included in a Partnership Addendum:
Sample
Partnership Amendment
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