Treatment of Members and Affiliates. For purposes of this Article Fourteen, (i) GAHR3 and its Affiliates that own Units shall be treated as one party and a reference to GAHR3 in this Article Fourteen shall mean GAHR3 and its Affiliates that own Units, (ii) GAHR4 and its Affiliates that own Units shall be treated as one party and a reference to GAHR4 in this Article Fourteen shall mean GAHR4 and its Affiliates that own Units, and (iii) NHI and its Affiliates that own Units, and their successors and assigns, shall be treated as one party and a reference to NHI in this Article Fourteen shall mean NHI and its Affiliates that own Units, and their successors and assigns. For the avoidance of all doubt, (A) if GAHR3 becomes the Seller (as defined below), then GAHR3 and its Affiliates that own Units (and their successors and assigns) shall be required to sell all of their Units in accordance with this Article Fourteen, and NHI and GAHR4 (if GAHR4 has made the Buy/Sell Purchase Election) and their respective Affiliates (and successors and assigns), as the Buyer (as defined below), shall be required to purchase all of the Units owned by GAHR3 and its Affiliates in accordance with this Article Fourteen, (B) if NHI becomes the Seller, then NHI and its Affiliates that own Units (and their successors and assigns) shall be required to sell all of their Units in accordance with this Article Fourteen, and GAHR3 and GAHR4 (if GAHR4 has made the Buy/Sell Purchase Election) and their respective Affiliates (and successors and assigns), as the Buyer, shall be required to purchase all of the Units owned by NHI and its Affiliates in accordance with this Article Fourteen, and/or (C) if GAHR4 becomes the Seller, then GAHR4 and its Affiliates that own Units (and its successors and assigns) shall be required to sell all of their Units in accordance with this Article Fourteen, and whichever of NHI and GAHR3 is determined to be the Buyer and its Affiliates (and successors and assigns), as the Buyer, shall be required to purchase all of the Units owned by GAHR4 and its Affiliates in accordance with this Article Fourteen. In furtherance of the foregoing, GAHR3 shall cause all of its Affiliates to act in accordance with this Article Fourteen, GAHR4 shall cause all of its Affiliates to act in accordance with this Article Fourteen, and NHI shall cause all of its Affiliates to act in accordance with this Article Fourteen.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (NorthStar Healthcare Income, Inc.), Limited Liability Company Agreement (Griffin-American Healthcare REIT III, Inc.)
Treatment of Members and Affiliates. For purposes of this Article Fourteen, (i) GAHR3 XXXX and its Affiliates that own Units shall be treated as one party and a reference to GAHR3 XXXX in this Article Fourteen shall mean GAHR3 and its Affiliates that own Units, (ii) GAHR4 and its Affiliates that own Units shall be treated as one party and a reference to GAHR4 in this Article Fourteen shall mean GAHR4 XXXX and its Affiliates that own Units, and (iiiii) NHI and its Affiliates that own Units, and their successors and assigns, shall be treated as one party and a reference to NHI in this Article Fourteen shall mean NHI and its Affiliates that own Units, and their successors and assigns. For the avoidance of all doubt, (A) if GAHR3 XXXX becomes the Seller (as defined below), then GAHR3 XXXX and its Affiliates that own Units (and their successors and assigns) shall be required to sell all of their Units in accordance with this Article Fourteen, and NHI and GAHR4 (if GAHR4 has made the Buy/Sell Purchase Election) and their respective its Affiliates (and their successors and assigns), as the Buyer (as defined below), shall be required to purchase all of the Units owned by GAHR3 XXXX and its Affiliates in accordance with this Article Fourteen, and (B) if NHI becomes the Seller, then NHI and its Affiliates that own Units (and their successors and assigns) shall be required to sell all of their Units in accordance with this Article Fourteen, and GAHR3 XXXX and GAHR4 (if GAHR4 has made the Buy/Sell Purchase Election) and their respective Affiliates (and successors and assigns)its Affiliates, as the Buyer, shall be required to purchase all of the Units owned by NHI and its Affiliates in accordance with this Article Fourteen, and/or (C) if GAHR4 becomes the Seller, then GAHR4 and its Affiliates that own Units (and its their successors and assigns) shall be required to sell all of their Units in accordance with this Article Fourteen, and whichever of NHI and GAHR3 is determined to be the Buyer and its Affiliates (and successors and assigns), as the Buyer, shall be required to purchase all of the Units owned by GAHR4 and its Affiliates in accordance with this Article Fourteen. In furtherance of the foregoing, GAHR3 shall cause all of its Affiliates to act in accordance with this Article Fourteen, GAHR4 XXXX shall cause all of its Affiliates to act in accordance with this Article Fourteen, and NHI shall cause all of its Affiliates to act in accordance with this Article Fourteen.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (NorthStar Healthcare Income, Inc.), Limited Liability Company Agreement (Griffin-American Healthcare REIT III, Inc.)