AMERICAN RENAL TEXAS L.P. AGREEMENT OF LIMITED PARTNERSHIP
Exhibit 3.24
AMERICAN RENAL TEXAS L.P.
AGREEMENT OF LIMITED PARTNERSHIP
THIS AGREEMENT OF LIMITED PARTNERSHIP is entered into as of April 20, 2000 by Texas-ARA LLC, a Delaware limited liability company, as the General Partner (the “General Partner”), and American Renal Associates Inc., a Delaware corporation, as the Limited Partner (the “Limited Partner”; the General Partner and the Limited Partners being herein referred to collectively as the “Partners”).
Whereas, the General Partner and the Limited Partner desire to form a limited partnership pursuant to this Agreement and the Revised Limited Partnership Act of the State of Texas (Texas Revised Civil Statutes, Article 6132a-1) (the “Partnership Act”);
Now, therefore, in consideration of the mutual covenants and agreements hereinafter set forth, the parties hereby agree as follows:
1. The name of the Partnership (the “Partnership”) is American Renal Texas
2. The Partnership shall carry on the business of developing, owning and operating renal care facilities to be located in the State of Texas, and such other business activities as may be necessary or appropriate in connection with the foregoing.
3. The address of the office of the Partnership at which shall be kept the records and Partnership documents of the Partnership shall be c/o American Renal Associates Inc., 0 Xxxxxx Xxxx Xxxxx, Xxxxxxx, Xxxxxxxxxxxxx 00000. The agent for service of process for the Partnership shall be CT Corporation System, 000 Xxxxxx Xxxxxx, Xxxxxxx, Xxxxx 00000.
4. The name and business address of each Partner, and the initial capital contribution of each of the Partners is as set forth on Schedule A annexed
5. Profits, losses, credits and items thereof of the Partnership shall be allocated, cash shall be distributed, in accordance with the following percentages of interest of the
General Partner |
0.5 | % | ||
Limited Partners |
99.5 | % |
6. Additional capital contributions shall be required to be made by the
7. No partnership interest in the Partnership may be transferred or assigned except pursuant to a merger or reorganization of a Partner or as otherwise approved in advance by the General Partner.
8. No Partner shall have a right to withdraw from the Partnership during its existence, except with the consent of the General Partner and upon terms agreed to at the time of withdrawal.
9. No Partner has the right to a return of capital from, or a right to an distributions by, the Partnership except to the extent the General Partner determines to make distributions in accordance with Section 5 hereof.
10. The Partnership shall be dissolved and its affairs wound up upon the first to occur of the following events: the unanimous consent of the Partners to such dissolution, or the sale or exchange of all or substantially all of the Partnership’s properties and assets; or any circumstances or event otherwise causing the dissolution of the Partnership under the Partnership Act.
11. The General Partner shall have and may exercise all rights and powers granted by the Partnership Act as from time to time in effect.
12. The General Partner may appoint, and may remove, one or more officers of the Partnership from time to time, and may assign to any such officer such duties and powers as the General Partner may deem appropriate.
13. The General Partner shall be entitled to such fees and reimbursements as may be determined by agreement of the Partners.
14. The General Partner shall have the right to propose the transfer or some or all of its partnership interests to a new or additional General Partner, subject to the prior unanimous written consent of all of the Partners.
15. Each of the Partners hereby constitutes and appoints the General Partner irrevocably as such Partner’s true and lawful attorney to execute, swear to and file all such certificates, instruments and other documents with the Texas Secretary of State and with other governmental authorities as the General Partner deems necessary or appropriate in accordance with applicable law.
16. No person dealing with the Partnership, or its assets, shall be required to investigate the authority of the General Partner, acting singly, purporting to act on behalf of the Partnership in selling, assigning or conveying an Partnership assets, or otherwise entering into any agreements or consummating any transactions for the Partnership; nor shall any such person be required to inquire as to whether the approval of the Partners for any such sale, assignment, transfer, agreement or transaction has first been obtained. Any such person shall be conclusively protected in relying upon a certificate of authority of, or in accepting any instrument signed by the General Partner in the name and on behalf of, the Partnership.
17. The Partnership shall, to the extent provided below, indemnify each person who is, was or is threatened to be made a named defendant or respondent in a proceeding because such person is or was a General Partner, or an officer or employee of the Partnership. The indemnification required by this Section 17 shall be provided so long as the person seeking indemnification (a) acted in good faith, (b) reasonably believed (i) in the case of conduct such person’s official capacity as General Partner, office or employee, that such person’s conduct was in the best interests of the Partnership and (ii) in all other cases that such person’s conduct was at least no opposed to the Partnership’s best interests, and (c) in the case of a criminal proceeding, had no reasonable cause to believe that the conduct giving rise to the claim for which indemnification is sought was unlawful.
18. The General Partner shall have the authority to employ such agents, employees, managers, accountants, attorneys, consultants and other persons necessary or appropriate to carry out the business and affairs of the Partnership, including itself and its affiliates and whether or not any such persons so employed are Partners or affiliates of Partners, and to pay such fees, expenses, salaries, wages and other compensation such persons as it shall, in its sole discretion, determine.
19. This Agreement may be amended with the unanimous consent of the Partners. This Agreement may be executed in multiple and separate counterparts, each of which shall be an original but all of which together shall constitute one instrument. This Agreement shall be governed by and construed in accordance with the laws of the State of Texas without regard to the conflict of law provisions thereof.
In WitnessWhereof, the Partners have executed this Agreement with effect as of the date first set forth above.
General Partner: | ||
Texas-ARA LLC | ||
By: American Renal Associates Inc. its sole Member | ||
By: | /s/ Xxxxxxxxxxx X. Xxxx | |
Xxxxxxxxxxx X. Xxxx, President | ||
Limited Partner: | ||
By: American Renal Associates Inc. | ||
By: | /s/ Xxxxxxxxxxx X. Xxxx | |
Xxxxxxxxxxx X. Xxxx, President |