LIMITED LIABILITY COMPANY AGREEMENT OF MPT OF DESOTO, LLC
Exhibit 3. 172
OF
MPT OF DESOTO, LLC
THIS LIMITED LIABILITY COMPANY AGREEMENT (this “Agreement”), is made and entered into as of
February 22, 2011, by and between MPT OPERATING PARTNERSHIP, L.P., a Delaware limited partnership
(hereinafter referred to as the “Sole Member”), and MPT OF DESOTO, LLC, a Delaware limited
liability company (the “Company”).
WHEREAS, the Company was organized on February 22, 2011 pursuant to the Delaware Limited Liability
Company Act (the “Act”), as set forth in the Delaware Code, § 18-101 et seq., as
the same may be amended from time to time; and
1. MEMBERSHIP INTERESTS. The Sole Member currently owns one hundred percent (100%) of the
percentage interests in the Company.
2. MANAGEMENT BY MEMBERS. Management of the Company shall be vested in its members. The
members shall have the exclusive right, power and authority to manage and operate the business and
affairs of the Company and to authorize any act or transaction on behalf of the Company. The
members may from time to time appoint and delegate authority to act on behalf of the Company to
such officers as the members deem appropriate. Any deed, agreement or other instrument, whether or
not for apparently carrying on in the usual way the business or affairs of the Company, shall be
binding on the Company and may be relied upon by any person or entity which is supplied with such
executed deed, agreement
or other instrument, if the same is executed on behalf of the Company by a member.
3. INDEMNIFICATION. The Company shall indemnify any person made a party to a proceeding by
reason of its status as a current or former member, manager, officer or employee of the Company, or
a current or former member, manager, officer or employee of an affiliate of the Company (each an
“Indemnitee”), from and against any and all losses, claims, damages, liabilities, joint or several,
expenses (including reasonable legal fees and expenses), judgments, fines, settlements, and other
amounts arising from any and all claims, demands, actions, suits or proceedings, civil, criminal,
administrative or investigative, that relate to the operations of the Company as set forth in this
Agreement in which any Indemnitee may be involved, or is
threatened to be involved, as a party or otherwise, unless it is established that: (i) the act or
omission of the Indemnitee was material to the matter giving rise to the proceeding and either was
committed in bad faith or was the result of active and deliberate dishonesty; (ii) the Indemnitee
actually received an improper personal benefit in money, property or services; or (iii) in the case
of any criminal proceeding, the Indemnitee had reasonable cause to believe that the act or omission
was unlawful. The termination of any proceeding by judgment, order or settlement does not create a
presumption that the Indemnitee did not meet the requisite standard of conduct set forth in this
Section 3. The termination of any proceeding by conviction or upon a plea of nolo contendere
or its equivalent, or an entry of an order of probation prior to judgment, creates a rebuttable
presumption that the Indemnitee acted in a manner contrary to that specified in this Section
3. Any indemnification pursuant to this Section 3 shall be made only out of the assets
of the Company.
The indemnification provided by this Section 3 shall be in addition to any other rights to
which an Indemnitee or any other person may be entitled under any agreement, pursuant to any vote
of the Members, as a matter of law or otherwise, and shall continue as to an Indemnitee who is no
longer a member, manager, officer, employee or otherwise affiliated with the Company.
4. GOVERNING LAW. This Agreement shall be interpreted, construed and enforced in accordance
with the Act and the laws of the State of Delaware, without giving effect to its choice of law
provisions.
5. ENTIRE AGREEMENT. This Limited Liability Company Agreement constitutes the entire
agreement of the parties and supersedes all prior agreements, whether written or oral.
6. AMENDMENTS. No amendments of this Agreement shall be valid unless it is set forth in a
writing signed by the members of the Company.
[Signatures are on the following page.]
2
IN WITNESS WHEREOF, the parties have executed and delivered this Limited Liability Company Agreement
on the date first set forth above.
MPT OPERATING PARTNERSHIP, L.P. |
||||
By: | /s/ Xxxxxx X. XxXxxx | |||
Name: | Xxxxxx X. XxXxxx | |||
Its: Executive Vice President & COO | ||||
MPT OF DESOTO, LLC BY: MPT OPERATING PARTNERSHIP, L.P. ITS: SOLE MEMBER |
||||
By: | /s/ Xxxxxx X. XxXxxx | |||
Name: | Xxxxxx X. XxXxxx | |||
Its: Executive Vice President & COO | ||||
3