A Limited Partner Agreement is a legal document that outlines the roles, responsibilities and rights of all parties involved in a limited partnership. This agreement defines each partner’s investment obligations, income distribution, management responsibilities and voting rights in relation to their shares. It also stipulates the procedures for admitting new partners and settling disputes amongst current partners. By signing this agreement, limited partners not only demonstrate their commitment to the partnership but also protect their own interests – making it an essential requirement of any limited partnership arrangement.