DISBURSEMENTS UPON TERMINATION OF CONTRACT

 

 

As a legally binding addendum and amendment to our partnership agreement dated ______________________ we, _________________________________________ and ____________________________________________________ submit the following: ______________________________________________________________________

 

Upon termination of the contract of partnership, each and every partner will repay any and all money that was advanced to partners by the partnership, and any other moneys that are owed the partnership by a partner and any interest due on those loans or advancements.  The moneys and or assets will then be liquidated and disbursed to partners so long as debts to partnerships have been repaid.

 

 

 

_____________________________                       ______________

Partner                                                                      Dated

 

 

 

_____________________________                       ______________

Partner                                                                      Dated

 

 

 

_____________________________                       ______________

Witness                                                                     Dated