Deed of Agreement on Admission of a New Partner by Shiva.

Deed of Agreement on Admission of a New Partner

THIS DEED OF AGREEMENT is made the . . . . . . . . . day of . . . . . . . . ., 20. . . . ., BETWEEN A. B. and C. D., partners in the firm ‘‘C. D. & Co.’’ of the one part; AND E. F., aged . . . . . . . years, son of . . . . . . . ., resident of . . . . . . . . ., of the other part.

WHEREAS the said A. B. and C. D. are partners in the firm C. D. & Co., situate in. . . . . . . . ., and are bound as such under a deed of partnership executed by them on the. . . . . . . . .day of . . . . . . . . , 20 . . . . ., hereinafter referred to as the ‘‘partnership deed’’;

AND WHEREAS the said E. F. is desirous of being admitted as a member in the aforesaid firm of C. D. & Co, and invest a sum of Rs. . . . . . . . .AND the said A. B. and C. D. are willing to admit him as an additional partner.

NOW THEREFORE THIS DEED WITNESSES that in pursuance of the said agreements and in consideration of the said E. F. bringing in and contributing the sum of Rupees . . . . . . . . . (Rs . . . . .) only, as additional capital of the above partnership firm, it is mutually agreed as follows:

1. The parties hereto shall, as from the date thereof be and continue partners for the unexpired residue of the term mentioned in para . . . . . . . . .of the ‘‘partnership deed’’ subject in all respects to the conditions, stipulations and provisions of the aforesaid ‘‘partnership deed’’, so far as applicable, and except as varied by this deed of agreement.

2. The capital mentioned in the ‘‘partnership deed’’ shall hereafter be changed to the sum of Rupees . . . . . . . . . (Rs . . . . . .) only and the partners shall hereafter have the undernoted shares in the capital.

A. B. shall have Rs . . . . . . . . . in the said capital,

C. D. shall have Rs . . . . . . . . . in the said capital, and

E. F. shall have Rs . . . . . . . . . in the said capital.

3. The profits and losses of the partnership shall continue to be borne by the partners hereto in proportion to their abovenamed respective shares.

(Any other clauses which may be agreed upon with
the new partner may be here entered)

IN WITNESS whereof the said A. B., C. D. and E. F. have hereto at . . . . . . . . ., signed the day and the year first abovementioned.

Witness:

Sd. A. B.

Sd. C. D.

Sd. E. F.

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