Use this template to prepare a Limited Partnership Agreement for Canada, between the general partner and several limited partners. Provisions of the agreement include:

• The general partner will have unlimited liability for partnership debts and to retain full ownership of all assets and equipment acquired on behalf of the partnership.
  
• Only the general partner has the authority to manage the business of the partnership.
  
• The liability of the limited partners is limited to the amount of the subscription paid by each of them for their partnership units.
  
• The agreement includes provisions for withdrawal of a partner and assignment of a partnership interest. The remaining partners have a right of first refusal to purchase the withdrawing partner's interest.

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