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The Three Way Partnership Agreement is a specialized legal document designed for situations where three parties wish to formalize their business relationship under New Zealand law. This agreement is particularly useful when multiple stakeholders want to combine their resources, expertise, or business interests in a structured partnership arrangement. It becomes essential when partners need to clearly define their respective roles, contributions, and profit-sharing arrangements while ensuring compliance with New Zealand's Partnership Act 1908 and related legislation. The document typically includes comprehensive provisions for partnership management, financial arrangements, dispute resolution, and exit strategies, making it suitable for both new business ventures and the formalization of existing business relationships. It's commonly used in various sectors from professional services to retail, and can accommodate both individual and corporate partners.

1. Parties: Identifies and provides full details of the three partners entering into the agreement

2. Background: Outlines the context and purpose of forming the partnership, including any relevant history or circumstances

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes rules for interpretation

4. Partnership Formation: Establishes the creation of the partnership, its name, and commencement date

5. Business of the Partnership: Defines the scope and nature of the partnership's business activities

6. Capital Contributions: Details the initial and any ongoing capital contributions required from each partner

7. Profit and Loss Sharing: Specifies how profits and losses will be distributed among the three partners

8. Management and Decision Making: Outlines management structure and decision-making processes, including voting rights and requirements for different types of decisions

9. Partners' Duties and Obligations: Sets out the responsibilities, duties, and obligations of each partner

10. Financial Management: Details banking arrangements, accounting procedures, and financial reporting requirements

11. Meetings and Records: Establishes procedures for partnership meetings and maintenance of partnership records

12. Restrictions on Partners: Outlines restrictions on partners' activities, including non-compete and confidentiality obligations

13. Term and Termination: Specifies the duration of the partnership and circumstances for termination

14. Dispute Resolution: Establishes procedures for resolving disputes between partners

15. General Provisions: Includes standard legal provisions such as governing law, notices, and amendments