This document is a clause which can be inserted into a partnership agreement, allowing partners to object to the nomination of new partners.
Within the mechanism to nominate new partners to a partnership, a provision should be made to enable other partners to object to a nominee.
Using this precedent
This is a general clause which can be inserted into a partnership agreement. This clause can also be inserted to the separate precedent “Partnership agreement (short form, general)” if nomination provisions have also been included (see separate precedent “Nominating new partners (optional clause)”).
When inserting this optional clause into an agreement, care must be taken to ensure that the agreement remains consistent. Cross-references, definitions and schedules should all be checked.
This document has been authored for LexisNexis by Michael Heraghty, Partner, TressCox Lawyers, Rosemarie Ryan, Barrister and Elise Margow, Principal, Legally Speaking.
This document is prepared with the assistance of Specialist Editor Stephen Newman, Executive Counsel, Ponte Earle.