Sample joint venture agreement pdf. LastName], collectively known as joint venture Summary.

Rating: 5. View details. % per annum. Literal to the definition, Joint Development Agreements are long term commitments and should be considered carefully before execution. (c) Mutual agreement of the parties. Joint Venture Agreement - Free download as PDF File (. The parties will share responsibilities, profits, and losses INTERNATIONAL JOINT VENTURE CONTRACT TEMPLATE. A joint venture contract is an agreement where two entities agree to operate on a business project together. parties. (a). 02(a)(i)(1). Loan Agreement; Notice of Meeting for Private Company Limited by Shares or Guarantee (LTD) Sep 29, 2023 · A joint venture consulting agreement distinctly implies that one of the participating parties delivers consulting services to support the shared goal. 5 KB), PDF (127. Click below to rate this page: 4. It establishes the responsibilities, obligations, and rights of each partner in the joint venture and governs their relationship. 01 Business objective. Apr 12, 2024 · A Joint Venture Agreement (sometimes called a co-venture agreement or JV agreement) is a contract between two or more business entities that undertake an enterprise together. Profits and losses A Joint Venture Agreement in the Philippines is a legal contract that establishes the terms and conditions of a collaborative business venture between two or more parties. g. The Joint Venture Agreement sets out each party’s rights and obligations, establishing boundaries on the services that each party may be required to perform. the provisions of the said Act and the Developers shall execute an indemnity in. NOW IT IS HEREBY AGREED BY AND AMONG THE PARTIES AS FOLLOWS : 1. This document establishes a joint venture agreement between two parties to submit a joint bid proposal for a proposed project. 0 Principles 3. 5. The agreement lays out the obligations, rights, and responsibilities of each participant, ensuring that all parties are clear on the parameters of their partnership. As part of the business partnership agreement, this agreement details the terms of sharing the business on real estate. Sample-Construction-Joint-Venture-Agreement. This agreement outlines the terms and conditions under which the parties will be involved in the joint venture, including the investment contributions, profit sharing, decision joint venture may incur in relation to the contract which the said Joint Venture may enter into with the _____(Name of Procuring entity)_____. 1 INTERNATIONAL JOINT VENTURE AGREEMENT TEMPLATE Download International Joint Venture Agreement sample in Word format. This agreement sets out the terms and conditions under which the joint venture will operate, detailing each partner's roles, responsibilities, contributions, and profit-sharing mechanisms. 1 The Joint Venture Agreement is effective as of the 1 day of , and shall continue for a term of five (5) years or until terminated as herein provided. Improvement of the country's foreign exchange position Jul 11, 2022 · Our joint venture agreement definition is a contract between two or more parties working together on a business endeavor for profit. This Agreement creates a Joint Venture to carry out the Purpose and does not create a partnership between the Parties nor does it authorize any Party to act as agent or trustee for the other Party SAVE AND EXCEPT as set out in this Agreement. gov. 02 Validity. 2 "Business Day" means any day other than a Saturday, Sunday or public holiday in South Africa; 2. Overall Structure. 2. 02(b)(i). FORMATION OF THE JOINT VENTURE. The Joint Venture shall be considered in all respects a joint venture between the Parties, and nothing in this Agreement shall ARTICLE 3- TERM. 7. Joint Ventures are very common in today’s economy as there are a ton of businesses that benefit A Joint Development Agreement between the landowner and a builder offers a lot of benefits to both parties. 3 Effective Date. Q: Can I use a template for a joint . The agreement identifies the parties involved in the joint venture, including their legal names and addresses. JVs usually imply a formal collaboration short of merger or Letter of Intent. 4. bidding, the this Agreement shall thereupon cease, terminated and automatically. xml ¢ ( ´•ËnÂ0 E÷•ú ‘·Ub袪* ‹>–-Ré { Vã‡ìáõ÷ ˆª *d )öÜ{ÏŒ%{0Z›2YBˆÚÙœõ³ KÀJ§´ åìkò–>² Sample-Construction-Joint-Venture-Agreement. 0 Amendments 10. LastName] and [Client. It’s becoming increasingly rare for businesses to operate on their own these days. A joint property interest in the subject matter of the venture. Formation. Fill out the template. A Joint Venture Agreement is a legal document where two or more entities combine to do business or undertake an economic activity together. doc), PDF File (. 5. parties on a ___% and ___%, respectively. for the aforementioned public bidding, or if prequalified, and fails to win the public. However, all Parties acknowledge that any assignment or other transfer requires prior written NIST approval. This document outlines an agreement between two parties to form a joint venture. The parties further agree that the cost of any capital development made on the agricultural land shall be offset against the amount owed to the second venturer in favou. 0 Effectivity 12. 1. The Joint Venture Vehicle, shall also fill the Merger Notification Form as the Joint Venture Vehicle. To clarify, we'll explain the following below: A contract for two or more individuals or entities to form a business relationship suitable for a single project or purpose. The parties will share responsibilities, profits, and losses Sep 4, 2020 · A confidentiality agreement, which is one of the most important clauses in a Joint venture Contract in Nigeria. of t. This document outlines the key terms of a joint venture agreement between a landowner and developer for a residential development project. Download International Joint Venture Contract sample in Word format. MANAGEMENT. The joint venture is a legal entity separate from the companies' other business interests. txt) or read online for free. Joint Venture Partnership Agreement Sample. No other activity will be undertaken by the Joint Venture without the written consent of all Parties. 14. It’s almost as if it’s fading into obscurity. The joint venture's activity is as follows: (Describe Business Purpose) 1. In a joint venture, both parties agree to pool their assets, share the risks, and share expenses and profits. Business managers would frequently form collaborative ventures, or joint ventures, with other companies to expand their market reach, develop a new venture together, and improve operational capabilities, and some would even exchange financial and promotional This checklist provides a basis on which to consider the issues surrounding the formation of the JV and the ongoing legal rights and obligations between the parties. Management structure and venture voting methods. doc / . 2 TerminationThe operation of the Joint Venture and the validity of the Agreement shall Construction Joint Venture Agreement Template. Page includes various formats of Joint Venture Agreement for PDF, Word and Excel. Joint Venture Guidelines 1. PROFITS AND LOSSES 5. Nonetheless, joint ventures generally take either of 2 forms: Corporate joint ventures; or. If your company lacks the resources to expand What are the types of Joint Venture Agreement? Joint Venture Agreements can be classified into various types based on their purpose and structure. It also highlights procedures for resolving disputes. The Parties hereto shall each make an initial contribution to the Joint Venture as follows: [SENDER. The International Joint Venture Contract establishes all the agreements needed to start up and manage the Joint Venture between two 10+ Printable Joint Venture Agreement Templates. In this template you will find all points that needed to be covered by the agreement. 00That both parties agree to be jointly and severally liable fo. The business owner will have a co-owner who can help him or her to run the business. It’s professionally pre-formatted and industry-grade to best suit your mining business agreements and discretionary partnership terms. 3 "Contract" means the contract with the Employer for the delivery of the Goods (or services in which case "Services" will need to be defined); B. It details the processes that both parties must Joint Venture Agreement Document - Free download as Word Doc (. 0 General Guidelines 7. Show preview. and executing the Contract for the benefit of the Members. 0 KB, PDF: 67. A joint venture agreement is a short-term, temporary Partnership Agreements between two or more parties, and the parties can be individuals or firms or any combination from that place. Some common types include: 1. ”. The interest is to be credited each year before profits are divided. 3. David also resolves conflicts between exist-ing joint venturers, often through a business transactional solution. FREE 8+ Sample Joint Venture Agreement Forms in PDF | MS Word. com. 1 ____ and _____ agree to participate as shareholders of and joint venture partners in the JVC, and agree to exercise their respective voting rights at meetings of the members of the JVC and to cause Relationship of the Investors. JOINT VENTURE AGREEMENT. Key details include: - The parties will combine their capabilities and expertise to formulate a joint bid for the project in response to a Request for Proposal. 0 Purpose 4. Resources will include staff, technology, patents, and other intellectual property. Contributions. favour of the vendors for the due performance of the terms of the said order. 0 Reporting Requirement 9. The landowner contributes the raw land, while the developer finances and undertakes all development costs The joint venture formed pursuant to this Agreement (the “Joint Venture”) shall do business under the name [Name of Joint Venture Business], and shall have its legal address at [Legal address of Joint Venture Business]. Fill in the blanks and choose the terms of this international agreement that best suit your needs. 5 (11 votes) Download Joint Venture Agreement for free. A joint venture agreement addresses key risks by describing the rights and responsibilities of business partners. 1 Profits and losses of the Joint Venture shall be divided and borne by the Partners in the following shares… This is a sample of 2 pages out of 7 of the Joint Venture Agreement for structures, negotiates, and prepares new joint venture agreements to achieve his clients’ business objectives and avoid disputes among joint venturers. agreed in the joint venture documentation and what practices have evolved during the life of the joint venture in this respect; • Service and contribution agreements, which are often seen as ancillary to the relationship, can create a dependency of the joint venture on a particular party, even though an equity joint venture Jul 2, 2023 · Real Estate Partnership Agreement Sample. The Joint Venture shall keep adequate books and records at its place of business, setting forth a true and accurate account of all business transactions arising out of and in connection with the conduct of the Joint Venture. The joint venture is an entity which is separate and Jul 1, 2020 · What is a Joint Venture? an entity (e. A joint venture agreement is a legal document that defines the terms and conditions between two or more businesses collaborating on a particular project or business activity. Contractual joint ventures are often used for short-term projects or JOINT VENTURE AGREEMENT SAMPLE. You may wonder about joint venture vs partnership agreements. It should be a detailed contract that includes all the aspects of this relationship. , limited liability company, corporation) formed between two or more parties to undertake business activities together. the venture can be for one specific project or for a defined scope of business activities. Size 6 to 8 pages. The Joint Venture will be managed by (check one): - The investment member - The operating member - A board of managers - A management committee - A non-member manager IV. (“GA”). 02 The parties hereto agree to do all things, to attend all such meetings and to execute and deliver all such further documents, agreements, and instruments as may be necessary to give effect to the terms of this Agreement. The interest rate will be . This JVA shall be effective as of the date of the last signature below. As important as this contract is, however, it can be difficult to understand. Each Party agrees to bear the responsibility of the following duties during the Term of the JOINT VENTURE AGREEMENT. ate the conflict. 0 Definition of Terms 6. This Agreement may be amended or varied by Agreement in writing by all parties hereto. Joint venture agreement. 0 Legal Basis 2. With a free Joint Venture Agreement template from Jotform Sign, you can outline the provisions related to the ownership structure of the venture, the roles and responsibilities of each Apr 24, 2024 · Formats Word and PDF. When this document is completely filled out, it should be signed by all parties and each party should keep a copy. So it is important to protect ones’ ideas/information The Agreement will contain a number of general provisions, including relating to the binding effect of the Agreement upon the parties, an indemnity by the company of its directors and shareholders for certain acts; the term of the Agreement; provisions regarding notices and delivery of the same; and similar general contractual terms. This information is assets to parties concerned. It specifies that [Party A] will be responsible for operations and decisions, and will be compensated for services. It is commonly used for large-scale projects that require significant resources, expertise or funding that a single person or entity cannot manage. This letter is intended to set forth a letter of intent by CAL Corporation (“CAL”), a California corporation, and DEL Corporation (“DEL”), a Delaware corporation. The on-farm event shall be conducted under the name, “Goode Family Farm. Corporations, limited liability companies, and partnerships can merge to establish a joint venture. To start, fill out key information about you, your partner, and the joint venture using the menu on the right. – in the context of project finance or joint venture between the public and private This is where project joint venture agreement templates and samples come into play. ayvazi. THIS JOINT VENTURE AGREEMENT is made and entered and effective as of July 7, 2005, between BRENT FOUCH ( Fouch ) and PALOMAR ENTERPRISES, INC. So it is important to protect ones’ ideas/information Foreign investment inflows through joint ventures especially with the Government of Ethiopia (GOE) are encouraged by the Government of Ethiopia. t/a We developed this checklist as a tool and guide to necessary and optional elements to negotiate and document the principal agreement or deal document in an international or cross-border joint venture (“JV”) between a U. Apr 27, 2024 · 1. 2022. THIS AGREEMENT is made effective as of the 7 th day of October, 2004, BETWEEN: YINKA FOLAWIYO PETROLEUM CO. Apr 17, 2024 · A joint venture agreement is employed when businesses want to collaborate on a distinct project without having to merge their companies entirely. of the first venturer. Joining a joint venture can allow professionals from different industries to connect and collaborate to reach a common goal. FirstName] [Sender. Use this Joint Venture Agreement to specify: Capital contribution schedule and structure. LTD. S. 0 Process for Entering into JV Agreements 8. AMOUNTPhP26,029,080. Profits and losses are also shared accordingly. 0 (1 vote ) Please enter symbols you see on the image below: Get File. PRG HOLDINGS BERHAD JOINT VENTURE AGREEMENT. The rights and obligations of the Members will be as stated in the applicable legislation of the Commonwealth of Virginia (the "Act") except as otherwise provided here. This is an agreement template between two parties who decided to work together after understanding all legal and factual aspects of the project. Choose between our blank PDF or Word templates and fill them out independently. This agreement is made as of agreement date between [Sender. In a Joint venture, ideas, knowledge, information and resources are shared that are confidential and not privy to a third party. 2. Dec 7, 2020 · 2. docx), PDF File (. In this type of deal, two companies act and function as one to accomplish the objectives of the contract. ARTICLE IX - MISCELLANEOUS PROVISIONS 9. 12. (18) The Developers shall be at liberty to allot the dwelling units of flats in the. Here is a printable Real Estate Partnership Agreement template you can use to start your business venture. The parties have indicated an interest in forming and establishing a joint venture for the exclusive purpose of ___________________________________________________________________ ___________________________________________________________________ (the “Joint Venture”). The following are the major criteria for GOE approval of joint venture proposals: Transfer and adaptation of needed technology into the country. 65 JOINT VENTURE AGREEMENT THIS JOINT VENTURE AGREEMENT ("AGREEMENT") is made, this ___ day of July, 2000, by and between ATM SERVICE, LTD. A joint venture agreement is a legally binding contract between two business entities. (w) “Pre-Financial Close Activities” has the meaning ascribed to it in Section 2. 1 Establishment and PurposeThe Joint Venture established by the Members in terms of the Agreement is an unincorporated association with the exclusive purp. Download Template. File Format. This template is available in various copies to give you easy customization options fit for your business needs. Whenever there is scope for a partnership, there has to be an agreement of sorts. 3 days ago · This type of Joint Venture Agreement is based on a legally binding contract between the parties involved. 5 a clause is to the relevant clause of this Agreement; 1. The choice between the 2 will generally depend on the parties’ commercial objectives. Announcement. A joint venture (JV) is the solution so that an entrepreneur will not run the business alone. Partnerships tend to be exclusively for long-term relationships while joint ventures can be for short or long-term endeavors. Right to share in the property. By this Agreement the Members enter into a joint venture (the "Venture") in accordance with the laws of the Commonwealth of Virginia. Number of pages: 3. IN CONSIDERATION of the mutual covenants, promises and valuable consideration (the receipt of which is hereby acknowledged) the Parties hereby agree as follows: 1. 2 This Agreement is subject to review after one (1) year, and then after four (4) subsequent years. (5). This document outlines an agreement between two parties to form a joint venture to bid on and complete a construction project. Contractual joint ventures. The joint venture formed by this Agreement (the “Joint Venture”) will conduct its business under the name (add a corresponding joint venture name), and will have its registered address at (add a corresponding address). Fouch and Palomar are sometimes hereinafter severally referred to as a Joint Venturer and collectively referred to as the Joint Venturers. PDF. The parties shall be jointly and severally liable for any and all obligation which the Joint Venture may incur on the basis of ____% for _____(Name of First A complete copy of this agreement has been filed with the Securities and Exchange Commission. Company]’s Contribution: Ownership of the joint venture. A Joint Venture is set up for the purpose of carrying out a specific project and usually has a defined end. Right of mutual control or management of the enterprise. The Joint Venture shall be considered in all respects a joint venture between the Parties, and nothing in this Agreement duly filling the Merger Notification Forms as Joint Venture Parents. This agreement template is a formal document which is legally binding and may be upheld in a court of law. the parties contribute equity and share in revenues, expenses, and control of the entity. A joint venture is simply a partnership between two or more individuals or businesses who intend to accomplish a specific task or business goal. Where two or more entities have entered into a contractual relationship without any existing Joint Venture Vehicle, the parties to the Joint Venture will then fill Joint ventures give you a chance to have a better understanding of the market even for just a short period of time. A joint venture is only for a temporary period of time, while a partnership is for a permanent basis or indefinite period of time. 0 Transitory Provision Annex A Annex B Another example of a joint agreement is a joint venture agreement, which will be our focus in this article. It outlines the specific objectives and goals of the joint venture, defining the scope and nature of the collaboration. The basic purpose of a joint venture (JV) is to involve two or more businesses that want to work together on a specific business project. LastName], collectively known as joint venture Summary. When there are two parties that aim to provide goods and services together, while still retaining their own individual identities, that means both of them are under a Joint Venture. Download. the entire assignment. A JDA offers clear cut instructions to avoid disagreements and disputes. Joint venture agreement (Philippines) File types: DOC: 40. , a company incorporated and existing under the laws of the Federal Republic of Nigeria, with offices at Yinka The Joint Venture shall be formed for the purpose of (Provide a description of the products and/or services that the Joint Venture is concerned with, and the objective/purpose of the Joint Venture). - One party is designated as the lead member to represent the joint venture and engage with the client means any one of them. 3 The Schedules hereto shall form part of this Agreement. 01 Books and Records. party or parties and one or more non-U. In a joint venture, two or more companies join together to collaborate on a particular project. Article 1 - JOINT VENTURE: Subject to the terms and conditions of this Agreement, the Parties will enter into a Joint Venture named the following: ________. Joint ventures are very common in construction sector. Our goal is to establish a joint venture through formation of a new entity (“Newco”) to be jointly owned by CAL and DEL. (“SenCer”), and General Automotive Company, Inc. It is hereby agreed and understood that if the herein Joint Venture fails to qualify. net’s Mining Joint Venture Agreement printable sample template. 1. The purpose and description of the Joint Venture will be as follows: ________. The company will produce and resell goods manufactured joint partners in the JVC. said buildings to be constructed on the said property or to enter into any. 3. Size 15 to 21 pages. When you start a company in partnership with someone, it is usually referred to as a joint venture. Exhibit 10. 6 KB. Size: 84 KB. A Joint Venture Agreement may be used if you’re planning on entering into a collaborative arrangement with a business associate to jointly sell products and services to clients. This document summarizes a joint venture agreement between a foreign manufacturer and a local Kenyan distributor to set up a jointly owned company in Kenya. JOINT VENTURE COMPANY 1. Joint Venture capital. (v) “Permits” has the meaning ascribed to it in Section 4. Sample 1 Sample 2 Sample 3. A Joint Venture Agreement is an agreement between two or more parties to embark on a particular project. JOINT VENTURE GENERAL3. This Joint Venture Agreement Template can be customized in seconds. Details. Sample Joint Venture Agreement - Free download as Word Doc (. This Agreement is made and entered into as of December 6, 2009 by and between SenCer Inc. The Joint Venture shall be considered a joint venture between the Parties in all respects, and in no event A joint venture agreement is a legally binding contract between two or more parties who agree to collaborate and work together on a specific project or business venture. PK !´ Ø ` [Content_Types]. The real estate joint venture (JV) is a distinct but 2. This means that you will be able to save more capital or focus most of your capital more on the project that you have. 6 any party includes that party’s personal representatives and/ or successors and assigns. Contacts 1. Jahlan Remtula. The agreement serves as a blueprint for the partnership, covering A: A joint venture agreement should include the names and details of the parties involved, the purpose or objective of the joint venture, the financial contributions and profit distribution, the decision-making process, the duration of the joint venture, and any terms for termination or dispute resolution. Profit/Loss distribution. JOINT VENTURE AGREEMENTTHIS JOINT VENTURE AGREEMENT (the “Agreement”) is entered into as of the ____ day of , 2020 by and between Greensboro Housing Management Corporation, a North Carolina non-profit corporation (“GHMC”) and Development Partner. Through their collaboration, the companies share resources, profits, losses and expenses. It is a contract between business partners. A joint venture agreement is a legal contract between two or more parties that outlines the terms and conditions of a strategic collaboration or partnership. Use a Real Estate Partnership Agreement if you're looking to enter a partnership to buy or manage real estate. That joint venture shall begin on the date specified in the first Sep 4, 2020 · A confidentiality agreement, which is one of the most important clauses in a Joint venture Contract in Nigeria. Purpose of MoU. A Joint Venture Agreement (JVA) is the cornerstone of such alliances, establishing a legal framework for the collaboration between two or more parties. The Parties desire to create a written agreement containing the terms and conditions of their joint venture. A Joint Venture Agreement is a contract between two or more individuals or businesses who would like to undertake a new discrete project, start a new service, or do some other type of specific work together in order to make a profit. Obligations of the Parties. Importantly, there are several different e Joint Venture. Party 2: 50%. Structure of joint venture: Should it take the form of: · a joint venture company with its own legal identity separate from those of its shareholders, in which the parties will participate on an equity basis, and there is a limitation on liabilities. ” III. The Board of Directors (“Board”) of PRG Holdings Berhad (“PRG” or the “Company”) wishes to announce that Premier Construction Sdn Bhd (“PCSB” or “Proprietor”), a wholly-owned subsidiary of PRG Property Sdn Bhd which in turn is a wholly-owned The joint venture formed pursuant to this Agreement (the “Joint Venture”) shall do business under the respective names of the Parties. Parties Involved. 9. Instantly download Template. Gain better resources. The joint venture shall be equally owned by all the Parties in the following percentage: Party 1: 50%. It outlines the rights, responsibilities, and obligations of each party involved in the joint venture. , a corporation (“Co-Developer”) (collectively, the. 0 Separability 11. 1 "Agreement" means this Joint Venture Agreement including its annexures from time to time; 2. 0 Coverage 5. This provision shall not apply in the event a Party changes its name or as part of the sale of the Party's business. PARTNERS’ DUTIES. 8. A Joint Venture Agreement is a contract between two or more parties that includes the terms and conditions of a collaborative business project or partnership. While a shareholders agreement primarily governs the relationship and rights of shareholders within a company, a joint venture agreement is focused on a specific collaborative project or venture between independent entities. Apr 10, 2024 · The major difference between a joint venture agreement and a partnership agreement is in the duration and scope of the relationship between the parties involved. The joint venture will generally come to an end once the project is completed. , a Nevada corporation ( Palomar ). 06. For example, companies might use a free joint venture agreement template when they want to penetrate new markets, develop new products, or share resources for the benefit of a common goal. pdf), Text File (. File types: DOC (64. INTRODUCTION. 03. 02 Term of the contract. Much of this checklist relates to a limited liability company form of JV but many of the issues raised will be equally relevant to the corporate form. The Agreement differs from other forms of business collaboration, such as a Shareholders Agreement or Partnership Agreement, in several key aspects. Business Management - Other downloadable templates of legal documents. The goal of a Joint Venture Agreement is to establish a new business entity or project, wherein each party shares in the profits, losses, and control of the venture. 9 KB) Number of pages: 10. 4 Clause headings are inserted for convenience only and shall be ignored in construing this Agreement. During the term of this Agreement Party 1 shall have the following obligations: ________. Fill in the blanks and choose the terms of this international contract that best suit your needs. Equity joint venture: In this type, the parties contribute capital and share profits and losses according to their respective equity holdings. 4 days ago · Singapore does not impose any restrictions on the types of joint ventures that are permissible. After the initial 5 year period is completed, should no signatory request Sep 7, 2022 · Formation. That both parties agree that ___________________ and/or __________________ shall be the Official Representative of the Joint Venture, and is granted full power and authority to do, execute and perform any and all acts necessary and/or to Hereinafter known as the “Joint Venture. FirstName] [Client. 4. It outlines the specific terms, conditions, and responsibilities of each partner without creating a separate legal entity, like an LLC or partnership, for example. The relationship between the parties involved in a joint venture is contractual, while a new legal entity is created when businesses or individuals enter into a partnership. . Apr 3, 2024 · This Joint Venture Agreement will cover all the ground needed for two or more parties or entities to begin a successful new project. ntis. (iv) all other rights, liabilities and obligations accruing to or incurred by a Party in or arising out of this Agreement. docx - Free download as Word Doc (. Name. Other names for the document: Joint Venture Contract, Agreement to form joint venture, Contract to form joint venture, JV Agreement, Deed of Joint Venture Country: United Kingdom. In essence, this consulting aspect is intrinsic to the venture's success and is meticulously defined within the agreement, distinguishing it substantially from a standard joint venture agreement. Joint Venture Agreement This Joint Undertaking Agreement (Agreement) concluded and concluded as of this by and between _____ ARTICLE I GENERAL PROVISIONS 1. The First venture shall not make any capital developments without the express written consent. sf yi ax xh iq kf id fl mm yl