AGREEMENT OF LIMITED PARTNERSHIP OF PHC-MINDEN, L.P.
Exhibit 3.280
AGREEMENT OF LIMITED PARTNERSHIP
OF
PHC-MINDEN, L.P.
OF
PHC-MINDEN, L.P.
Pursuant to Section 3404 of the Louisiana Civil Code of 1870, this undersigned parties
being all of the partners (the “Partners”) of PHC-Minden, L.P. (the “Limited Partnership”), a
Louisiana limited partnership formed pursuant to the provisions of Article 2836 et. seq. of the
Louisiana Civil Code of 1870, as amended and reenacted (the “Act”), hereby agree as follows:
Percent | Capital | |||||||||
Name and Address | Ownership | Contribution | ||||||||
General Partner:
|
PHC-Minden G.P., Inc. | 1 | % | $ | 1.00 | |||||
a Louisiana corporation | ||||||||||
000 Xxxxxxxx Xxxxx, Xxxxx 000 | ||||||||||
Xxxxxxxxx, Xxxxxxxxx 00000 | ||||||||||
Limited Partner:
|
PHC-Louisiana, Inc. | 99 | % | $ | 99.00 | |||||
a Louisiana corporation | ||||||||||
000 Xxxxxxxx Xxxxx, Xxxxx 000 | ||||||||||
Xxxxxxxxx, Xxxxxxxxx 00000 |
Each Partner made its contribution to capital in cash at the time it executed the
Articles of Limited Partnership, dated August 2, 1999. Neither Partner shall be required to make
any additional contribution of capital to the Limited Partnership, although the Partners may from
time to time agree to make additional contributions to the Limited Partnership.
The Limited Partnership may engage in any lawful business permitted by the Act, including
without limitation, acquiring, owning, operating, selling, leasing, and otherwise dealing with
hospitals and other healthcare businesses.
The address of the registered and principal office of the Limited Partnership is 3972 X-00
Xxxxx Xxxxxxx Xxxx, Xxxxxx, Xxxxxxxxx 00000 and the name and address of the registered agent for
service of process on the Limited Partnership in the State of Louisiana is National Registered
Agents, Inc., 0000 Xxxxxxx 000, Xxxxxxxxxx, Xxxxxxxxx 00000-0000.
The Limited Partnership shall be terminated and dissolved upon the earlier of (i) the mutual
agreement of the Partners or (ii) December 31, 2050. After payment of all obligations and other
liabilities as provided in the Act, notwithstanding any provision to the contrary in this
Agreement, all remaining Limited Partnership assets shall be distributed to the Partners in
accordance with their positive ending capital account balances in compliance with Treasury
Regulation Section 1.704-1(b)(2)(ii)(b)(2). No Partner shall have the obligation to another
Partner, the Limited Partnership, or third party to restore a negative capital account balance
during the existence or upon termination of the Limited Partnership.
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A capital account for each Partner shall be established, maintained and adjusted in
accordance with Treasury Regulation Section 1.704-1(b)(2)(iv), including any optional adjustments
under Treasury Regulation Section 1.704-1(b)(2)(iv)(f) that the General Partner believes are
necessary to reflect the economic interests of the Partners and, if applicable, the adjustments
required under Treasury Regulation Section 1.704-1(b)(2)(iv)(g).
All distributions and, after giving effect to the special allocations in the following
paragraph, all allocations of income, gins, losses and credits shall be made in accordance with
the Percent Ownership of each Partner. No allocation of loss or deduction will be made to a
Partner that would create an impermissible capital account balance as computed under Treasury
Regulations Section 1.704-1(b)(2)(ii)(d).
This Agreement contains, and the Partners shall comply with the “qualified income offset”
provision of Treasury Regulations Section 1.704-1(b)(2)(ii)(d), the minimum gain chargeback
provisions and provisions relating to the special allocation of nonrecourse deductions of Treasury
Regulations Section 1.704-2. The allocations contained in this paragraph shall be defined,
interpreted and made in accordance with the applicable Treasury Regulations.
Income, gain, loss and deduction as computed for income tax purposes with respect to Limited
Partnership property subject to Internal Revenue Code Section 704(c) and/or Treasury Regulations
Section 1.704-1(b)(2)(iv)(f) shall be allocated in accordance with said Internal Revenue Code
Section and/or Treasury Regulations Section 1.704-1(b)(4)(i), as the case may be, using any
reasonable method permitted in Treasury Regulations Section 1.704-3 that is selected by the
General Partner. Allocations made pursuant to this paragraph shall not affect the capital accounts
of the Partners.
The General Partner shall have the exclusive right and full power and authority to manage,
control, conduct and operate the business of the Partnership, and may take any and all action
without the consent of the Limited Partner. The General Partner shall maintain all books and
records required by the Act to be maintained at the address specified above or at any other office
designated by the General Partner. The General Partner shall make available at its principal
office at the address specified above in the State of Tennessee such books and records of the
Limited Partnership as are required pursuant to the Act. The General Partner shall have the right
to designate a different registered agent and/or registered office for the Limited Partnership by
complying with any requirements pursuant to the Act.
The Limited Partnership shall indemnify and hold harmless the General Partner, and its
members, managers, employees, agents and representatives and the officers, directors, employees
agents and representatives of its members to the fullest extent permitted by the Act.
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The Partners hereby agree that all other terms of the Limited Partnership be controlled and
interpreted in accordance with the Act.
EXECUTED effective as of
August 3, 1999.
GENERAL PARTNER: | ||||||||
WITNESSES: | PHC-Minden G.P., Inc., | |||||||
a Louisiana corporation | ||||||||
[ILLEGIBLE]
|
By: | /s/ Xxxxxx X. Xxxx | ||||||
[ILLEGIBLE]
|
Title: | Secretary |
STATE OF TENNESSEE | ) | |||||||
) | SS.: | |||||||
COUNTY OF
|
Davidson TN | ) | ||||||
On
this 3rd day of August, 1999, before me, the subscriber, a Notary
Public duly appointed to take proof and acknowledgment of deeds and other
instruments, came Xxxxxx Xxxx, to me personally known
to be the individual described in and who signed the preceding Articles of Limited Partnership,
and who duly acknowledged to me, the signing of the same, and being by me duly sworn deposeth and
saith that he signed the foregoing Articles of Limited Partnership in the capacity set forth under
his signature.
IN TESTIMONY WHEREOF, I hereunto set my name and affix my official seal at 1999,
Aug. 3rd, the day and year first above written.
/s/ Xxxxxx Xxxxxxx | Notary Public | |||
(SEAL)
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WITNESSES: | LIMITED PARTNER: | |||||||
PHC-Louisiana, Inc. | ||||||||
a Louisiana corporation | ||||||||
[ILLEGIBLE]
|
By: | /s/ Xxxxxx X. Xxxx | ||||||
[ILLEGIBLE]
|
Title: | Secretary
|
STATE OF TENNESSEE | ) | |||||||
) | SS.: | |||||||
COUNTY OF
|
Davidson | ) | ||||||
On this 3rd day of August, 1999, before me, the subscriber, a Notary
Public duly appointed to take proof and acknowledgment of deeds and other
instruments, came Xxxxxx Xxxx, to me personally
known to be the individual described in and who signed the preceding Articles of Limited
Partnership, and who duly acknowledged to me, the signing of the same, and being by me duly
sworn deposeth and saith that he signed the foregoing Articles of Limited Partnership in the
capacity set forth under his signature.
IN TESTIMONY WHEREOF, I hereunto set my name and affix my official seal at 1999,
Aug. 3, the day and year first above written.
/s/ Xxxxxx Xxxxxxx | Notary Public | |||
(SEAL)
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