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Title:

Limited Partnership

Entities:

Lakeland Physicians Medical Building, Inc.

Date:

2007

Size:

47KB total

Price:

$34

ID:

#2845632

 

 

► Miscellany ► Certificates ► Certificates of ► Certificates of Limited Partnership

 

 

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AGREEMENT AND CERTIFICATE OF LIMITED PARTNERSHIP

of

HEALTHSOUTH of Tallahassee

Limited Partnership


TABLE OF CONTENTS

to

AGREEMENT AND CERTIFICATE OF LIMITED PARTNERSHIP

of

HEALTHSOUTH of Tallahassee

Limited Partnership

 

         Page

Parties

   1

Recitals

   1

ARTICLE I

  

DEFINED TERMS

  
     1

ARTICLE II

  

ORGANIZATION

  

2.1.

 

Formation

   3

2.2.

 

Qualification

   3

2.3.

 

Name

   4

2.4.

 

Agent for Service of Process

   4

2.5.

 

Principal Place of Business

   4

2.6.

 

Prior Agreements of Limited Partnership

   4

ARTICLE III

  

PURPOSE

  
     4

ARTICLE IV

  

TERM

  
     4

ARTICLE V

  

NAMES AND ADDRESSES OF PARTNERS

  

5.1.

 

General Partner

   4

5.2.

 

Limited Partner

   5

 

i


ARTICLE VI

  

CAPITAL CONTRIBUTION AND

ADDITIONAL WORKING CAPITAL

  

6.1.

  

Capital Contribution of the General Partner

   5

6.2.

  

Capital Contribution of the Limited Partner

   5

6.3.

  

Withdrawal of Capital Contributions

   5

6.4.

  

Assessments

   5

6.5.

  

No Interest on Capital

   5

6.6.

  

Additional Working Capital

   5

ARTICLE VII

  

COMPENSATION OF GENERAL PARTNER;

EXPENSES OF, TM PARTNERSHIP

  

7.1.

  

No Compensation to General Partner as General Partner

   5

7.2.

  

Reimbursement of Expenses Incurred by the Partner

   6

7.3.

  

Organizational Expenses

   6

7.4.

  

Fees and Other Payments Receivable by the Partners or their Affiliates

   6

ARTICLE VIII

  

ALLOCATION OF INCOME AND

LOSS; DISTRIBUTIONS

  

8.1

  

Capital Accounts

   6

8.2.

  

Allocation of Income or Loss: In General

   6

8.3.

  

Allocation of Income, Gain, Loss or Deduction; Distribution of Available Cash Flow

   6

8.4.

  

Distribution of Sale Proceeds

   7

8.5.

  

Consequences of Distributions

   7

8.6.

  

Allocation of Net Income, Net Loss and Distributions in Respect of Units Transferred or Sold by the Partnership

   7

ARTICLE IX

  

RIGHTS, POWERS AND OBLIGATIONS

OF THE GENERAL PARTNER; ESTABLISHMENT

OF ADVISORY COMMITTEE

  

9.1.

  

Powers

   7

9.2.

  

Independent Activities

   9

9.3.

  

Duties

   9

9.4.

  

Certain Limitations

   9

 

ii


9.5.

  

Net Worth of the General Partner

   9

9.6.

  

Indemnification

   10

9.7.

  

Succession as General Partner

   10

ARTICLE X

  

STATUS OF LIMITED PARTNER

  

10.1.

  

No Participation in Management

   10

10.2.

  

Limited Liability

   10

10.3.

  

Investment Intent

   11

10.4.

  

Unregistered Limited Partnership Interests

   11

10.5.

  

Nature of Investment

   11

ARTICLE XI

  

RESIGNATION OF THE GENERAL PARTNER

  

11.1.

  

Resignation of the General Partner

   11

11.2.

  

Notice of Resignation

   11

11.3.

  

Liability of the General Partner after Resignation

   11

ARTICLE XII

  

DISSOLUTION AND WINDING UP

OF THE PARTNERSHIP

  

12.1

  

Dissolution of the Partnership

   12

12.2.

  

Winding Up of the Partnership

   12

ARTICLE XIII

  

BOORS OF ACCOUNT, ACCOUNTING, REPORTS,

FISCAL YEAR, BANKING AND TAX ELECTION

  

13.1.

  

Books of Account

  

13.2.

  

Financial Reports

   12

13.3.

  

Fiscal Year

   13

13.4.

  

Banking

   13

13.5.

  

Tax Election

   13

13.6.

  

Tax Returns

   13

ARTICLE XIV

  

MISCELLANEOUS

  

14.1.

  

Notice

   14

 

iii


14.2.

  

Section Captions

   14

14.3.

  

Severability

   14

14.4.

  

Right to Rely Upon the Authority of the General Partner

   14

14.5.

  

Governing Law

   14

14.6.

  

Counterpart Execution

   14

14.7.

  

Parties in Interest

   14

14.8.

  

Construction of Pronouns

   14

14.9.

  

Integrated .Agreement

   15

Signatures

   16

Appendix A

  

 

iv


THE PARTNERSHIP INTERESTS ISSUED UNDER THIS DOCUMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR ANY STATE SECURITIES ACT AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF ABSENT SUCH REGISTRATION UNLESS, IN THE OPINION OF COUNSEL TO THE GENERAL PARTNER, SUCH REGISTRATION IS NOT REQUIRED.

AGREEMENT AND CERTIFICATE OF LIMITED PARTNERSHIP

of

HEALTHSOUTH of Tallahassee

Limited Partnership

AGREEMENT, dated as of December 28, 1994, by and between HEALTHSOUTH Real Property Holding Corporation, a Delaware corporation (the General Partner), and HEALTHSOUTH Rehabilitation Corporation, a Delaware corporation (the Limited Partner).

W I T N E S S E T H:

WHEREAS, the General Partner and the Limited Partner desire to form a limited partnership for the purpose of operating a rehabilitation hospital; and

WHEREAS, the parties hereto desire to set forth their respective interests in, and all rights, duties and obligations in and to, the Partnership, all upon the terms and subject to the conditions hereinafter set forth.

NOW, THEREFORE, in consideration of the premises, and the mutual covenants and promises hereinafter set forth, and for other good and valuable consideration, the receipt aid sufficiency of which are hereby acknowledged, the parties to this Agreement of Limited Partnership do hereby agree as follows:

ARTICLE I

DEFINED TERMS

The following defined terms used in this Agreement shall have the meanings specified below:

Act means the Alabama Limited Partnership Act of 1983, as amended from time to time.

Affiliate means (a) any Person directly or indirectly controlling, controlled by or under common control with another Person, (b) any Person owning or controlling 10% or more of the outstanding voting securities of such other Person, (c) any officer, director or partner of such Person, or (d) if such other Person is an officer, director or partner, any company for which such Person acts in any such capacity.

Agreement means this Agreement of Limited Partnership, as amended, restated, modified or supplemented from time to time.

 

1


Available Cash Flow means all cash funds of the Partnership on hand at the end of each calendar quarter, less (a) provision for payment of all outstanding and unpaid current cash obligations of the Partnership at the end of such quarter (including those which are in dispute), including, but not limited to, current debt service obligations of the Partnership amounts payable to the Partners under any separate agreements described in Section 7.4 hereof, and (b) provisions for reserves for reasonably anticipated cash expenses and contingencies (which may include additional debt service on indebtedness of the Partnership, future payments under such separate agreements and any other amounts payable to the General Partner or an Affiliate of the General Partner, but without deduction for depreciation and other non-cash expenses; provided, however, that Sale Proceeds shall not be included in Available Cash Flow).

Capital Contribution in respect of any Partner or transferee of such Partner means the amount of all cash and other property, tangible or intangible, contributed by such Partner to the capital of the Partnership.

Certificate means the Certificate of Limited Partnership of the Partnership filed pursuant to the Act, as amended from time to time.

Code means the Internal Revenue Code of 1986, as amended from time to time.

General Partner means the party designated as the General Partner in the first paragraph of this Agreement, including any successor general partner or general partners substituted pursuant to the provisions of this Agreement.

General Partnership Interest means the entire interest of the General Partner in the Partnership, including the General Partners economic interest in capital, profits, losses and distributions of the Partnership, the General Partners right to participate in the management of the Partnership and all other rights and obligations accorded under this Agreement or under Alabama law.

General Partnership Percentage means 1%.


 

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