2.6 Restrictions on Transfer:
None of the Partners shall sell, assign, transfer, mortgage,encumber, or otherwise dispose of the whole or part of that Partner's interest in the Partnership,and no purchaser or other transferee shall have any rights in the Partnership as an assignee or otherwise with respect to all or any part of that Partnership interest attempted to be sold,assigned, transferred, mortgaged, encumbered, or otherwise disposed of, unless and to theextent that the remaining Partner(s) have given consent to such sale, assignment, transfer,mortgage, or encumbrance.
SECTION 3: PARTNERS CAPITAL ACCOUNTS3.1 The Partners initial investment:
PARTNER CONTRIBUTION Partner 1 _______________ Partner 2 _______________ Partner 3 _______________ Partner 1’s initial investment of USD ____________ representing furniture & fixtures,computers, laptops, UPS and other office equipment will constitute a charge on the income of the partnership and be repaid to him as soon as the partnership starts generating positive cashflows or as mutually agreed by all the partners.Partner 3 commits USD ____________ if needed in advance for any project under thisagreemetn which shall constitute first charge on the incomes and be returned as soon as cashis collected
Unless agreed by all partners and as expressly stated in this agreement, no partner shall havethe right to withdraw any amount from his capital account. Partners are not entitled to interest ontheir capital accounts.
3.2 Profits and Losses:
Until modified by mutual consent or as expressly agreed by thePartners, the profits and losses of the Partnership and all items of income, gain, loss, deduction,or credit shall be shared by the Partners equally.
THE PARTNERS AGREE THAT INCOME, PROFITS AND LOSSES OF THE PARTNERSHIPSHALL BE KEPT DISTINCT AND SEPARATE FROM OTHER BUSINESS ACTIVITIES OFTHE PARTNERS.SECTION 4: BOOKS AND RECORDS