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Exhibit
3.336
AGREEMENT OF LIMITED
PARTNERSHIP
OF
TERRE HAUTE MOB,
L.P.
This AGREEMENT OF LIMITED
PARTNERSHIP (“Agreement”) is entered into and shall be
effective as of the 30th day of December, 2004, by and between
Terre Haute Regional Hospital, L.P., a Delaware limited
partnership, HSS Holdco, LLC, a Delaware limited liability company,
and Healthtrust, Inc. - The Hospital Company, a Delaware
corporation, pursuant to the provisions of the Indiana Limited
Partnership Act (the “Act”), on the following terms and
conditions:
ARTICLE I.
THE
PARTNERSHIP
1.1
Formation . The Partners hereby agree to organize the
Partnership as a limited partnership pursuant to the provisions of
the Act and upon the terms and conditions set forth in this
Agreement. Simultaneous with the execution of this Agreement, Terre
Haute Regional Hospital, L.P., HSS Holdco, LLC and Healthtrust,
Inc. - The Hospital Company shall be admitted as General Partners
and Terre Haute Regional Hospital, L.P. shall be admitted as a
Limited Partner.
1.2 Name
. The name of the Partnership shall be Terre Haute MOB, L.P., and
all business of the Partnership shall be conducted in such name or,
in the discretion of the Managing General Partner, under any other
name, provided that the name of the Partnership and the name in
which its business is conducted shall in no event include the name
of any Partner or any Affiliate of any Partner or any trade name
associated with the business of any Partner or any Affiliate of any
Partner.
1.3
Purpose/Powers .
(a) The purpose of the
Partnership is to provide a business structure wherein the Partners
can combine their knowledge, expertise and resources and engage in
the business of operating and managing the assets of the
Partnership and make such additional investments and engage in such
additional business endeavors as the Partners may unanimously
agree, and engage in any and all activities related or incidental
thereto.
(b) The Partnership shall
have the power to do any and all acts necessary, appropriate,
proper, advisable, incidental or convenient to or in furtherance of
the purpose of the Partnership and shall have without limitation,
any and all powers that may be exercised on behalf of the
Partnership by the General Partners pursuant to Section 1.8(c)
and Article V.
1.4 Principal
Place of Business/Registered Address . The principal place
of business of the Partnership shall be One Park Plaza, Nashville,
Tennessee 37203. The registered office of the Partnership in the
State of Indiana is 251 E. Ohio St., Suite 1100, Indianapolis,
Indiana 46204 and the name of the Registered Agent at this address
is CT Corporation System.
1.5 Term
. The term of the Partnership shall continue until the earlier of
(i) the winding up and liquidation of the Partnership and its
business is completed following a Liquidating Event, as provided in
Article XI; or (ii) December 31, 2050.
1.6 Title to
Partnership Property . All Partnership Property shall be
owned by the Partnership as an entity and no Partner shall have any
ownership interest in such Property in its individual name or
right, and each Partner’s interest in the Partnership shall
be personal property for all purposes. Except as otherwise provided
in this Agreement, the Partnership shall hold all of its Property
in the name of the Partnership and not in the name of any
Partner.
1.7 Payments of
Individual Obligations . The Partnership’s credit and
assets shall be used solely for the benefit of the Partnership, and
no asset of the Partnership shall be transferred or encumbered for
or in payment of any individual obligation of any
Partner.
1.8 Independent
Activities; Transactions with Affiliates .
(a) The General Partners
shall be required to devote only such time to the affairs of the
Partnership as such General Partner determines in its sole
discretion may be necessary to manage and operate the Partnership,
and the General Partners, shall be free to serve any other Person
or enterprise in any capacity that it may deem appropriate in its
discretion.
(b) To the extent permitted
by applicable law and except as otherwise provided in this
Agreement, the General Partners, when acting on behalf of the
Partnership, are hereby authorized to purchase property from, sell
property to, or otherwise deal with any Partner, acting on its own
behalf, or any Affiliate of any Partner, provided that any such
purchase, sale or other transaction shall be in the ordinary cause
of the Partnership’s business and shall be made on terms and
conditions which are no less favorable to the Partnership than if
the sale, purchase or other transaction had been entered into with
an independent third party.
(c) Each Partner and any
Affiliate thereof may also lend money to, borrow money from, act as
a surety, guarantor or endorser for, guarantee or assume one or
more specific obligations of, provide collateral for, and transact
other business with the Partnership and, subject to other
applicable law, has the same rights and obligations with respect
thereto as a Person who is not a Partner provided that if a Partner
acts as surety, guarantor, or endorser for a Partnership
obligation, such act shall be at no cost to the Partnership. The
existence of these relationships and acting in such capacities will
not result in any Limited Partner being deemed to be participating
in the control of the business of the Partnership or otherwise
affect the limited liability of the Limited Partner.
1.9
Definitions . Capitalized words and phrases used in
this Agreement have the following meanings:
(a) “Act” means
the Indiana Limited Partnership Act, as set forth in the Indiana
Code, Title 23, Article 16, as amended, modified or supplemented
from time to time (or any corresponding provisions of succeeding
law).
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(b) “Affiliate”
means, with respect to any Person, (i) any Person directly or
indirectly controlling, controlled by, or under common control with
such Person, (ii) any officer, director, or General Partners
of such Person, or (iii) any Person who is an officer,
director, general partner, or trustee of any Person described in
clauses (i) and (ii) of this sentence. For purposes of
this definition, the term “controls,” “is
controlled by,” or “is under common control with”
shall mean the possession, direct or indirect, of the power to
direct or cause the direction of the management and policies of a
person or entity, whether through the ownership of voting
securities, by contract or otherwise.
(c) “Agreement”
or “Partnership Agreement” means this Agreement of
Limited Partnership, as amended from time to time. All references
in this Agreement to “Section” or
“Sections” are to a section or sections of this
Agreement unless otherwise specified.
(d) “Capital
Account” means, with respect to any Partner, the Capital
Account maintained for such Partner in accordance with the
following provisions:
(i) To each Partner’s
Capital Account there shall be credited such Partner’s
Capital Contributions, such Partner’s distributive share of
Profits and the amount of any Partnership liabilities assumed by
such Partner or which are secured by any Property distributed to
such Partner.
(ii) To each Partner’s
Capital Account there shall be debited the amount of cash and the
value of any Property distributed to such Partner pursuant to any
provision of this Agreement, such Partner’s distributive
share of Losses and the amount of any liabilities of such Partner
assumed by the Partnership or which are secured by any property
contributed by such Partner to the Partnership.
(iii) In the event all or a
portion of an Interest is transferred in accordance with the terms
of this Agreement, the transferee shall succeed to the Capital
Account of the transferor to the extent it relates to the
transferred Interest.
(e) “Capital
Contribution” means, with respect to any Partner, the amount
of money and the fair value of any property (other than money)
contributed to the Partnership by such Partner (or its predecessors
in Interest) with respect to the Interest held by such Partner,
including the deemed Capital Contribution described in
Section 2.1 hereof.
(f) “Effective
Date” means the date first written above.
(g) “Fiscal Year”
means the Partnership’s annual accounting period ending on
December 31 of each year.
(h) “General
Partner” means any Person who (i) has become a General
Partner pursuant to the terms of this Agreement, and (ii) has
not, at any given time, ceased to be a General Partner pursuant to
the terms of this Agreement. “General Partners” means
all such Persons.
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(i) “Interest”
means any interest in the Partnership representing some or all of
the Capital Contributions made by a Partner pursuant to Article II,
including any and all benefits to which the holder of such an
interest may be entitled as provided in this Agreement, together
with all obligations of such Partner to comply with the terms and
provisions of this Agreement.
(j) “Limited
Partner” means any Person who (i) has become a Limited
Partner pursuant to the terms of this Agreement, and (ii) has
not, at any given time, ceased to be a Limited Partner.
“Limited Partners” means all such Persons. All
references in this Agreement to a majority or a specified
percentage of the Limited Partners shall mean Limited Partners
holding more than fifty percent (50%) or such specified
percentage, respectively, of the Interests then held by all Limited
Partners.
(k) “Liquidating
Event” shall have the meaning set forth in
Section 11.1.
(l) “Losses” has
the meaning set forth in the definition of “Profits”
and “Losses.”
(m) “Managing General
Partner” shall mean any General Partner selected by all of
the General Partners to act on behalf of all of the General
Partners. As of the date hereof, the General Partners have selected
HSS Holdco, LLC to act as Managing General Partner.
(n) “Net Cash
Flow” means the gross cash proceeds of the Partnership less
the portion thereof used to pay or establish reserves for all
Partnership expenses, debt payments, capital improvements,
replacements, and contingencies, all as determined by the General
Partner. “Net Cash Flow” shall not be reduced by
depreciation, amortization, cost recovery deductions, or similar
allowances, but shall be increased by any reductions of reserves
previously established pursuant to the first sentence of this
definition.
(o) “Partners”
means all General Partners and all Limited Partners, where no
distinction is required by the context in which the term is used
herein. “Partner” means any one of the Partners. All
references in this Agreement to a majority or a specified
percentage of the Partners shall mean Partners holding more than
fifty percent (50%) or such specified percentage,
respectively, of the Interests.
(p) “Partnership”
means the partnership organized pursuant to this Agreement and the
partnership continuing the business of this Partnership pursuant to
Section 11.1 in the event of dissolution as herein
provided.
(q) “Partnership
Property” or “Property” means all real and
personal property owned by the Partnership and any improvements
thereto, and shall include both tangible and intangible
property.
(r) “Percentage
Interest” means, with respect to any Partner, as of any date,
that Partner’s share, expressed as a percentage in the
profits, capital and assets of the Partnership. The initial
Percentage Interest of each Partner is set forth in
Section 2.1. In the event all or any portion of an Interest is
transferred in accordance with the terms of this Agreement, the
transferee shall succeed to the Percentage Interest of the
transferor to the extent it relates to the transferred
Interest.
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(s) “Permitted
Transfer” shall have the meaning set forth in
Section 9.2.
(t) “Person”
means any individual, partnership (whether general or limited and
whether domestic or foreign), limited liability company,
corporation, trust, estate, association, custodian, nominee or
other entity.
(u) “Profits” and
“Losses” means, for each Fiscal Year, an amount equal
to the Partnership’s taxable income or loss for such Fiscal
Year, with the following adjustments:
(i) Any income of the
Partnership that is exempt from federal income tax and not
otherwise taken into account in computing Profits or Losses
pursuant to this definition of “Profits” and
“Losses” shall be added to such taxable income or
loss;
(ii) Any expenditures of the
Partnership that are not deductible for federal income tax purposes
and not otherwise taken into account in computing Profits or Losses
pursuant to this definition of “Profits” and
“Losses” shall be subtracted from such taxable income
or loss;
(v) “Reconstitution
Period” shall have the meaning set forth in
Section 11.1.
(w) “Transfer”
means, with respect to all or any portion of an Interest, as a
noun, any voluntary or involuntary transfer, sale, or other
disposition and, as a verb, voluntarily or involuntarily to
transfer, sell, or otherwise dispose of.
(x) “Wholly Owned
Affiliate” of any Person means (i) an Affiliate of such
Person 100% of the capital stock (or its equivalent in the case of
entities other than corporations) of which is owned beneficially by
such Person, directly, or indirectly through one or more Wholly
Owned Affiliates, or by any Person who, directly or indirectly,
owns beneficially 100% of the capital stock (or its equivalent in
the case of entities other than corporations) of such Person, and
(ii) an Affiliate of such Person who, directly or indirectly,
owns beneficially 100% of the capital stock (or its equivalent in
the case of entities other than corporations) of such Person;
provided that, for purposes of determining the ownership of the
capital stock of any Person, de minimis amounts of stock held by
directors, nominees and similar persons pursuant to statutory or
regulatory requirements shall not be taken into account.
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ARTICLE II.
PARTNER’S CAPITAL
CONTRIBUTIONS
2.1 Partners .
The name, address, capital contribution and initial Percentage
Interest of the Partners are as follows:
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Name and Address of
Partners
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Capital
Contribution |
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Percentage
Interest
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HSS Holdco, LLC
One Park Plaza
Nashville, TN
37203
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$32,328 |
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1% general partner |
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Healthtrust, Inc. - The
Hospital Company
One Park Plaza
Nashville, TN
37203
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$32,328 |
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1% general
partner |
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Terre Haute Regional
Hospital, L.P.
One Park Plaza
Nashville, TN
37203
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Assets and Operations
of Terre Haute Regional MOB
(FMV =
$3,168,170) |
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1% general partner
97% limited partner
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2.2 Capital
Contributions . None of the Partners shall be required to
make any additional contributions of capital to the Partnership,
although the Partners may from time to time agree to make
additional contributions to the Partnership,
2.3 Other
Matters .
(a) Except as otherwise
provided in this Agreement or in the Act, no Partner shall demand
or receive a return of its Capital Contributions or withdraw from
the Partnership without the consent of all Partners. Under
circumstances requiring a return of any Capital Contributions, no
Partner shall have the right to receive property other than cash
except as may be specifically provided herein.
(b) Provided that the Limited
Partners act in accordance with the terms of this Agreement, the
Limited Partners shall not be liable for the debts, liabilities,
contracts, or any other obligations of the Partnership. Except as
otherwise provided by any other agreements among the Partners or
mandatory provisions of applicable state law, a Limited Partner
shall not be required to lend any funds to the Partnership or to
make any additional Capital Contributions to the
Partnership.
(c) No General Partner shall
have any personal liability for the repayment of any Capital
Contributions of any Limited Partner.
ARTICLE
III.
ALLOCATIONS
3.1
Profits . Profits for any Fiscal Year shall be
allocated among the Partners in accordance with their respective
Percentage Interests.
3.2
Losses . Losses for any Fiscal Year shall be
allocated among the Partners in accordance with their respective
Percentage Interests.
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ARTICLE IV.
DISTRIBUTIONS
4.1 Net Cash
Flow . Except as otherwise provided in Section 11.2,
Net Cash Flow, if any, shall be distributed at such times as
determined by the General Partners. All distributions of Net Cash
Flow shall be made to the Partners in proportion to their
respective Percentage Interests.
4.2 Amounts
Withheld . The General Partners are authorized to withhold
from distributions, or with respect to allocations, to the Partners
and to pay over to any federal, state, local or foreign government
any amounts required to be so withheld pursuant to any provisions
of federal, state, local or foreign law, and shall allocate any
such amounts to the Partners with respect to which such amount was
withheld.
ARTICLE V.
MANAGEMENT
5.1 Authority of
the General Partner . Subject to the limitations and
restrictions set forth in this Agreement including, without
limitation, those set forth in this Article V, the General Partners
shall direct the business and affairs of the Partnership and in so
doing shall manage, control and have all of the rights and powers
which may be possessed by general partners under the
Act.
5.2 Right to
Rely on the General Partner .
(a) Any Person dealing with
the Partnership may rely (without duty of further inquiry) upon a
certificate signed by any General Partner as to:
(i) The identity of the
General Partners or any Limited Partner;
(ii) The existence or
nonexistence of any fact or facts which constitute a condition
precedent to acts by the General Partners or which are in any other
manner germane to the affairs of the Partnership;
(iii) The Persons who are
authorized to execute and deliver any instrument or document of the
Partnership; or
(iv) Any act or failure to
act by the Partnership or any other matter whatsoever involving the
Partnership or any Partner.
(b) The signature of the
General Partners shall be necessary and sufficient to convey title
to any property owned by the Partnership or to execute any
promissory notes, trust deeds, mortgages, or other instruments of
hypothecation, and all of the Partners agree that a copy of this
Agreement may be shown to the appropriate parties in order to
confirm the same, and further agree that the signature of any
General Partners shall be sufficient to execute any
“statement of partnership” or other documents necessary
to effectuate this or any other provision of this Agreement. All of
the Partners do hereby appoint the General Partners as their
attorney-in-fact for the execution of any or all of the documents
described in this Section 5.2(b).
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5.3 Duties and
Obligations of the General Partner .
(a) The General Partners
shall cause the Partnership to conduct its business and operations
separate and apart from that of the General Partners or any of
their Affiliates, including, without limitation,
(i) segregating Partnership assets and not allowing funds or
other assets of the Partnership to be commingled with the funds or
other assets of, held by, or registered in the name of, the General
Partners or any of its Affiliates, (ii) maintaining books and
financial records of the Partnership separate from the books and
financial records of the General Partners and its Affiliates, and
observing all Partnership procedures and formalities, including,
without limitation, maintaining minutes of Partnership meetings and
acting on behalf of the Partnership only pursuant to due
authorization of the Partners, (iii) causing the Partnership
to pay its liabilities from assets of the Partnership, and
(iv) causing the Partnership to conduct its dealings with
third parties in its own name and as a separate and independent
entity.
(b) The Managing General
Partner shall take all actions which may be necessary or
appropriate (i) for the continuation of the
Partnership’s valid existence as a limited partnership and
its qualification to do business under the laws of the State of
Indiana and any other jurisdiction in which such existence or
qualification is necessary to protect the limited liability of the
Limited Partners or to enable the Partnership to conduct the
business in which it is engaged or to perform its obligations or
exercise its rights under any agreement to which it is a party and
(ii) for the accomplishment of the Partnership’s
purposes, including the acquisition, management, development,
maintenance, preservation, and operation of Partnership Property in
accordance with the provisions of this Agreement and applicable
laws and regulations. Without limitation of the foregoing, the
Managing General Partner shall cause the Partnership to maintain
all licenses, permits, registrations, authorizations, use
agreements, consents, orders or approvals of governmental or
quasi-governmental agencies and authorities (whether federal,
state, local, municipal or foreign) necessary to own its properties
and to conduct its activities in accordance with all applicable
laws, rules, regulations and orders.
(c) Except as otherwise
provided in Section 1.8, the General Partners shall be under a
fiduciary duty to conduct the affairs of the Partnership in the
best interests of the Partnership including, without limitation,
the safekeeping and use of all of the Partnership Property and the
use thereof for the exclusive benefit of the Partnership and will
not conduct the affairs of the Partnership so as to benefit any
other business now owned or hereafter acquired by any Partner if
such conduct also produces a detriment to the
Partnership.
(d) The General Partners
shall cause to be provided, or cause the Partnership to carry, such
insurance as is customary in the business in which the Partnership
is engaged and in the places in which it is so engaged.
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5.4
Indemnification of the Partners . The Partnership
shall indemnify the General Partners against any loss or threat of
loss as a result of any claim or legal proceeding related to the
performance or non-performance of any act concerning the business
or activities of the Partnership to the maximum extent permitted
under the Act. The indemnification authorized by this
Section 5.4 shall include payment of reasonable
attorneys’ fees, court costs and other reasonable expenses
incurred in settling any such claim or threatened action, in paying
any judgment of any court or in removing any lien affecting the
property of the General Partner. All indemnities provided for in
this Agreement shall survive the transfer of a Partner’s
Interest.
5.5
Expenses . The General Partners may charge the
Partnership, and shall be reimbursed, for any reasonable direct
expenses incurred in connection with the Partnership’s
business and payable to Persons other than the General Partners
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