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e of partnership profits then due and payable applied instead to his capital account。 and (2) pay any deficiency to the partnership if his share of partnership profits is not yet due and payable or, if it is, his share is insufficient to cancel the deficiency. 5. Profits and Losses. The profits and losses of the partnership shall be divided by the partners according to a mutually agreeable schedule and at the end of each calendar year according to the proportions listed above. 6. Term/Termination. The term of this Agreement shall be for a period of ____ years, unless the partners mutually agree in writing to a shorter period. Should the partnership be terminated by unanimous vote, the assets and cash of the partnership shall be used to pay all creditors, with the remaining amounts to be distributed to the partners according to their proportionate share. 7. Disputes. This Partnership Agreement shall be governed by the laws of the State of _______. Any disputes arising b