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JOINT VENTURE AGREEMENTTHIS JOINT VENTURE AGREEMENT (the “Agreement”) is made and entered into this _____ day of ____________, 20_____, by and between ___________, a Louisiana Corporation with its principal office at ____________________________, Louisiana (the “First Party”), and ____________, a Louisiana Corporation with its principal office at ____________________________, Louisiana (the “Second Party”).
RECITALSWHEREAS, the parties desire to form a joint venture to engage in the business of acquiring, owning, and developing real estate properties in Louisiana. WHEREAS, the parties have agreed to contribute their respective expertise, financial resources, and other assets to the Joint Venture. NOW, THEREFORE, in consideration of the mutual covenants set forth herein and for other valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:
ARTICLE 1 – FORMATIONThe parties hereto hereby form a Joint Venture under the laws of the State of Louisiana, for the purposes and to the extent set forth in this Agreement, and subject to the terms set forth herein.
ARTICLE 2 – NAME AND PRINCIPAL OFFICEThe name of the Joint Venture shall be _____________. The principal office of the Joint Venture shall be located at _______________, Louisiana, or such other location as the parties may mutually agree upon.
ARTICLE 3 – TERMThe term of the Joint Venture shall commence on the date first above written and shall continue in full force until the completion of the Project, unless earlier terminated as provided in this Agreement.
ARTICLE 4 – PURPOSEThe purpose of the Joint Venture shall be to acquire, own, and develop real estate properties in Louisiana (the “Project”).
ARTICLE 5 – CONTRIBUTIONSThe parties hereto agree to contribute their respective expertise, financial resources, and other assets to the Joint Venture as follows: _______________.
ARTICLE 6 – PROFITS AND LOSSESAll profits, losses, and distributions of cash or other assets of the Joint Venture shall be allocated between the parties in proportion to their respective percentage interests in the Joint Venture, as follows: _______________.
ARTICLE 7 – MANAGEMENTThe management of the Joint Venture shall be vested in a manager appointed by a majority in interest of the Joint Venturers. The Joint Venturers shall have the right to remove the manager at any time, with or without cause.
ARTICLE 8 – DISSOLUTIONThe Joint Venture shall be dissolved upon the occurrence of any of the following events: (i) the completion of the Project; (ii) the mutual agreement of the Joint Venturers; or (iii) as required by applicable law.
ARTICLE 9 – GOVERNING LAWThis Agreement shall be governed by and construed in accordance with the laws of the State of Louisiana. IN WITNESS WHEREOF, the parties hereto have executed this Joint Venture Agreement as of the date first above written. ______________________ ______________________ Name of First Party Name of Second Party ______________________ ______________________ Signature Signature ______________________ ______________________ Date Date
Before venturing into a Real Estate Joint Venture Agreement in Louisiana, make sure to familiarize yourself with the essential components of a contract for property-related transactions. A well-structured Contract for Deed Template Louisiana can guide you on how to properly formulate your agreement terms.
For those interested in leasing properties, understanding a proper Contract for Rental Property Louisiana is crucial. This helps you adequately protect your interests and rights as either a landlord or tenant.
Additionally, if you’re looking to buy or sell real estate, having a detailed Contract for Sale of Real Estate in Louisiana is vital. This contract outlines the process of transferring property rights, which is necessary in a joint venture agreement.