Joint venture

This Joint Venture Agreement (this “Agreement”) is entered into as of the ____________________, 20______ (the “Effective Date”) by and between ________________________ [First Party] located at ________________________________________ and ________________________ [Second Party] located at ________________________________________.
1. Formation. The parties have indicated an interest in forming and establishing a joint venture for the exclusive purpose of ___________________________________________________________________ ___________________________________________________________________ (the “Joint Venture”). The Joint Venture shall do business under the name ________________________, and shall have its principal office and place of business at ________________________________________ or such other place(s) as shall be designated from time to time.
2. Contributions. For the purpose of the Joint Venture, the parties shall make capital contributions, in cash or property, in the following amounts or values:
• ________________________ [First Party] (Check all that apply)
☐ Cash in the amount of $____________
☐ _____________________________________________ [Description of property or other contribution] in the value of $____________
• ________________________ [Second Party] (Check all that apply)
☐ ash in the amount of $____________
☐ _____________________________________________ [Description of property or other contribution] in the value of $____________
If the Joint Venture requires additional funds, the parties shall make additional contributions as mutually agreed upon by the parties.
3. Ownership. The parties shall own interest in the Joint Venture in the following percentages:
• ________________________ [First Party]: __________%
• ________________________ [Second Party]: __________%
4. Distribution of Profits. Net profits and net losses accruing to the Joint Venture shall be distributed to
the parties in: (Check one)
☐ Accordance with each party's respective ownership interests. ☐ The following proportions:
• ________________________ [First Party]: __________%
• ________________________ [Second Party]: __________%