Racehorse Partnership Agreement

Racehorse Partnership Agreement

Owners, whether they are in partnership or not, rely on the expertise of their trainer to condition their horses. However, in some cases, a coach may offer you even more help and may be interested in becoming one of the partners. You can do what the arrangement works for you, your partners, and your coach. (a) an example of a standard 45-part partnership at an initial cost of $1,000. If the entire Capitol partnership is increased to the deadline of $10,000, then each $1,000 share will be sold will represent a 4.5% stake. If the total capital of the partnership is $22,500, each $1,000 share sold represents a 2% stake, and if the total capital of the partnership is $45,000, each $1,000 share represents a 1% interest. 16. DISTRIBUTION TO PARTNERS: If the partnership horses made money this month or if one of the horses in partnership possession was sold during the month, the managing agent distributes to each partner involved in proportion to excess partnership funds. These excess credits are considered to be given when the money available from the end of the month exceeds the total amount of invoices due and payable at the time, increased, at the discretion of the executive officer, by a reserve for forward-looking expenses of up to three months, including, but not limited, the eventual purchase of additional horses for the partnership.

OCD`s list of partnerships and unions contains the names, contact numbers and general information of many partnerships that operate stables in California. 18. INITIAL CAPITOL AND CLOSING: The initial capitol on partnerships will not be less than $10,000, and the partnership will be entered and no other partner may be admitted when the partner has the first races in mapleview Racing LLC`s possession (end date), unless a vote of 2/3 on the reference date. If the partnership does not reach an initial value of $10,000 on the reference date, the managing agent may, at his sole discretion, terminate the partnership and refund all subscriptions. 21. AMENDMENT: This agreement can be amended by a vote of three-quarters of all the interests of the partnership. 20. TERMINATION: When a horse in possession or lease is sold, retired or retired, the partnership may continue and resell, lease or purchase another horse, unless three-quarters of the company`s interests vote in favour of terminating the partnership and distributing the product. In the absence of such a vote, the partnership will end shortly thereafter, as the partnership no longer owns horses or leases horses or votes in favour of termination by a vote of three-quarters.

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