I'm currently drafting my first partner operating agreement. What are some of your favorite snippets or verbiage you've picked up along the way that you include in your operating agreements? Anything around distribution of profits? Good/Bad Leave Clauses?
One specific component of interest: the ability to regularly (annually?) review ownership % and make adjustments to reflect active participation in the business.
Thank you!
Operating Agreement Musts
by a searcher
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We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.
https://swap.stanford.edu/was/###-###-#### /http://gsb.stanford.edu/experience/about/centers-institutes/ces/research/search-funds/primer
If you have trouble accessing through the link, send me a message.
EDIT: It's also specifically geared to Traditional, but again, helpful with some of the finance and legal terminology.