Board Resolution (Entry into Limited Partnership)

Summary

This precedent is a director resolution approving entry into a limited partnership. It assumes that the Corporation is formed under the laws of Ontario or Canada. The precedent includes practical guidance, drafting notes and an optional clause. This director resolution is used to authorize the limited partner's contribution of capital to a limited partnership and to authorize the execution and delivery of the limited partnership agreement. This precedent assumes that the limited partner entering into the limited partnership agreement is a Corporation. It also assumes that the limited partner will be transferring assets to the limited partnership as part of its capital contribution. For more information about limited partnerships, see practice note: Limited Partnerships (ON). For a precedent limited partnership agreement, see: Limited Partnership Agreement. For information on corporate resolutions for an Ontario corporation, see the Corporate Resolution Resource Kit (ON). For ...