LIMITED LIABILITY COMPANY AGREEMENT OF MPT OF GARDEN GROVE MOB, LLC
Exhibit 3.125
OF
MPT OF GARDEN GROVE MOB, LLC
THIS
LIMITED LIABILITY COMPANY AGREEMENT (this “Agreement”), is
made and entered into as of June 25,
2008, by and between MPT OPERATING PARTNERSHIP, L.P., a Delaware limited partnership (hereinafter
referred to as the “Sole Member”), and MPT OF GARDEN GROVE MOB, LLC, a Delaware limited liability
company (the “Company”).
W I T N E S S E T H:
WHEREAS,
the Company was organized on June 25, 2008 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
WHEREAS, the parties desire to enter into this Limited Liability Company Agreement.
NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements set forth
below, the parties hereby agree as follows:
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. 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.
4. ENTIRE AGREEMENT. This Limited Liability Company Agreement constitutes the entire agreement of
the parties and supersedes all prior agreements, whether written or oral.
5. AMENDMENTS. No amendments of this Agreement shall be valid unless it is set forth in a
writing signed by the members of the Company.
6. SINGLE PURPOSE ENTITY. The Company shall operate as a Single Purpose Entity (as
hereinafter defined). For the purpose of this Agreement, the term “Single Purpose Entity” shall
mean an entity which (i) exists solely for the purpose (the “Purpose”) of acting as general partner
of MPT of Garden Grove MOB, L.P., a Delaware limited partnership (the “Lessor”) (ii) conducts
business only in its own name, (iii) does not engage in any business other than the Purpose, (iv)
other than the general partnership interest in the Lessor, it does not hold, directly or
indirectly, any ownership interest (legal or equitable) in any entity or any real or personal
property, (v) does not have any assets other than those related to its interest in the Lessor and
does not have any debt other than as related to or in connection with the Purpose and does not
guarantee or otherwise obligate itself with respect to the debts of any other person or entity;
provided, however, that, notwithstanding the foregoing, the Company may guarantee or otherwise
obligate itself with respect to the debts of any affiliate, (vi) has its own separate books,
records and accounts, (vii) holds itself out as being a company separate and apart from any other
entity, and (viii) observes limited liability company
formalities independent of any other entity.
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. |
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By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Name: Xxxxxxx X. Xxxxxxx | ||||
Its: EVP & General Counsel | ||||
MPT OF GARDEN GROVE MOB, LLC BY: MPT OPERATING PARTNERSHIP, L.P. ITS: SOLE MEMBER |
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By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Name: Xxxxxxx X. Xxxxxxx | ||||
Its: EVP & General Counsel | ||||
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