EX-10.15






Parent Guaranty Agreement




Dated as of June 30, 2011




Re: Grubb & Ellis Healthcare REIT II Holdings, LP




Table of Contents

(Not a part of the Agreement)




	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	Page
	Section 1.
	 	Definitions	 	 	2	 
	Section 2.
	 	Guaranty of Notes and Credit Agreement.	 	 	2	 
	Section 3.
	 	Guaranty of Payment and Performance.	 	 	2	 
	Section 4.
	 	General Provisions Relating to the Guaranty	 	 	3	 
	Section 5.
	 	Representations and Warranties of the Parent Guarantor.	 	 	9	 
	Section 6.
	 	Amendments, Waivers and Consents	 	 	11	 
	Section 7.
	 	Notices	 	 	11	 
	Section 8.
	 	Miscellaneous	 	 	12	 






Parent Guaranty Agreement

Re: Grubb & Ellis Healthcare REIT II Holdings, LP




This Parent Guaranty Agreement dated as of June 30, 2011 (this “Parent Guaranty”) is
entered into by Grubb & Ellis Healthcare REIT II, Inc., a Maryland corporation together
with any entity which may become a party hereto (hereinafter referred to as “Parent Guarantor”).



Recitals




A. Parent Guarantor, directly or indirectly, is the holder of 100% of the Equity Interests of
Grubb & Ellis Healthcare REIT II Holdings, LP, a limited partnership organized under the laws of
the State of Delaware (the “Borrower”).



B. The Borrower has entered into that certain Credit Agreement dated as of June 30, 2011 (as
the same may be amended, supplemented, restated or otherwise modified from time to time, the
“Credit Agreement”) among the Borrower, KeyBank National Association, as Agent (the “Agent”) and
each of the Lenders from time to time parties thereto (the “Lenders”), providing for, among other
things, Revolving Credit Loans to the Borrower of up to $71,500,000 (herein, and as defined in the
Credit Agreement, the “Revolving Credit Loans”).



C. The proceeds of the Revolving Credit Loans will be used by Borrower to provide funds (each,
an “Intercompany Loan”) from time to time to each Subsidiary Guarantor to purchase or refinance an
Eligible Facility (as defined in the Credit Agreement) that is owned or operated by such Subsidiary
Guarantor.



D. Each Intercompany Loan will be evidenced by an Intercompany Note (as defined in the Credit
Agreement) which Intercompany Note will be assigned to Agent as collateral for all of the Revolving
Credit Loans.



E. The Agent and the Lenders have required as a condition of their making Revolving Credit
Loans that the Borrower cause the Parent Guarantor to enter into this Parent Guaranty, and the
Borrower has agreed to cause the Parent Guarantor to execute this Parent Guaranty in order to
induce the Agent and the Lenders to make the Revolving Credit Loans and thereby benefit the
Borrower and its Subsidiaries by providing funds to the Borrower for the purposes described in
Schedule 2.8 of the Credit Agreement.



Now, therefore, as required by Section 4.1 of the Credit Agreement and in
consideration of the premises and other good and valuable consideration, the receipt and
sufficiency whereof are hereby acknowledged, the Parent Guarantor does hereby covenant and agree as
follows:




	 	 	Section 1. Definitions.





Capitalized terms used herein shall have the meanings set forth in the Credit Agreement unless
otherwise defined herein.




	 	 	Section 2. Guaranty of Notes and Credit Agreement.





Parent Guarantor does hereby irrevocably, absolutely and unconditionally guarantee, as primary
obligor and not as surety, unto the Agent and the Lenders: (1) the full and prompt payment of (i)
the principal of, and interest on the Revolving Credit Notes from time to time outstanding, as and
when such payments shall become due and payable whether by lapse of time, upon redemption or
prepayment, by extension or by acceleration or declaration or otherwise (including, to the extent
permitted by applicable law, interest due on overdue payments of principal, or interest at the rate
set forth in the Credit Agreement) and (ii) all fees (including, without limitation, any Fees) that
shall become due and payable under the terms of the Credit Agreement, in each case, in federal or
other immediately available funds of the United States of America which at the time of payment or
demand therefor shall be legal tender for the payment of public and private debts, (2) the full and
prompt performance and observance by the Borrower of each and all of the obligations, covenants and
agreements required to be performed or owed by the Borrower and the Loan Parties under the terms of
the Revolving Credit Loans, the Credit Agreement and all other Loan Documents to which the Borrower
or any other Loan Party is a party, and (3) the full and prompt payment, (i) upon demand by Agent
or any Lender of all costs and expenses, legal or otherwise (including reasonable attorneys’ fees),
if any, as shall have been expended or incurred in the protection or enforcement of any rights,
privileges or liabilities in favor of the Lenders under or in respect of the Revolving Credit
Loans, the Credit Agreement, the other Loan Documents or under this Parent Guaranty or in any
consultation or action in connection therewith or herewith and (ii) all other Obligations (as
defined in the Credit Agreement). All amounts due, debts, liabilities and other obligations
described in this Section 2 shall be hereinafter collectively referred to as the “Guaranteed
Obligations.”



Parent Guarantor agrees that its guarantee hereunder is continuing in nature and applies to
all Guaranteed Obligations whether currently existing or hereafter incurred or created.




	 	 	Section 3. Guaranty of Payment and Performance.





This is an irrevocable, absolute and unconditional guarantee of payment and performance (but
not of collection) and Parent Guarantor hereby waives, to the fullest extent permitted by law, any
right to require that any action on or in respect of any Revolving Credit Loan, the Credit
Agreement, any other Loan Document or any other Guaranteed Obligation be brought against the
Borrower or any other Person or that resort be had to any direct or indirect security for the
Guaranteed Obligations or for this Parent Guaranty or any other remedy. Agent and any Lender may,
at its option, proceed hereunder against any Guarantor in the first instance to collect monies when
due, the payment of which is guaranteed hereby, without first proceeding against the Borrower or
any other Person and without first resorting to any direct or indirect security for the Guaranteed
Obligations or for this Parent Guaranty or any other remedy. The liability of Parent Guarantor
hereunder shall in no way be affected or impaired by any acceptance by Agent or any Lender of any
direct or indirect security for, or other guaranties of, any Indebtedness, liability or obligation
of the Borrower or any other Person to Agent or any Lender or by any failure, delay, neglect or
omission by Agent or any Lender to realize upon or protect any such guarantees, Indebtedness,
liability or obligation or any notes or other instruments evidencing the same or any direct or
indirect security therefor or by any approval, consent, waiver, or other action taken, or omitted
to be taken by Agent or any such Lender.




	 	 	Section 4. General Provisions Relating to the Guaranty.





(a) Parent Guarantor hereby consents and agrees that Agent or any Lender or Lenders from time
to time, with or without any further notice to or assent from any other Guarantor may, without in
any manner affecting the liability of Parent Guarantor under this Parent Guaranty, and upon such
terms and conditions as Agent any such Lender or Lenders may deem advisable:




(1) extend in whole or in part (by renewal or otherwise), modify, change, compromise,
release or extend the duration of the time for the performance or payment of any
Indebtedness, liability or obligation of the Borrower or of any other Person (including,
without limitation, any other Guarantor) secondarily or otherwise liable for any
Indebtedness, liability or obligation of the Borrower on the Guaranteed Obligations, or
waive any Default or Event of Default with respect thereto, or waive, modify, amend or
change any provision of the Credit Agreement, any other Loan Document, any other agreement
or waive this Parent Guaranty; or




(2) sell, release, surrender, modify, impair, exchange or substitute any and all
property, of any nature and from whomsoever received, held by, or for the benefit of, Agent
or any such Lender as direct or indirect security for the payment or performance of any
Indebtedness, liability or obligation of the Borrower or of any other Person (including,
without limitation, any other Guarantor) secondarily or otherwise liable for any
Indebtedness, liability or obligation of the Borrower on the Guaranteed Obligations; or




(3) settle, adjust or compromise any claim of the Borrower against any other Person
(including, without limitation, any other Guarantor) secondarily or otherwise liable for any
Indebtedness, liability or obligation of the Borrower on the Guaranteed Obligations.



Parent Guarantor hereby ratifies and confirms any such extension, renewal, change, sale,
release, waiver, surrender, exchange, modification, amendment, impairment, substitution,
settlement, adjustment or compromise and that the same shall be binding upon it, and hereby waives,
to the fullest extent permitted by law, any and all defenses, counterclaims or offsets which it
might or could have by reason thereof, it being understood that Parent shall at all times be bound
by this Parent Guaranty and remain liable hereunder.



(b) Parent Guarantor hereby waives, to the fullest extent permitted by law:




(1) notice of acceptance of this Parent Guaranty by the Agent or the Lenders or of the
creation, renewal or accrual of any liability of the Borrower, present or future, or of the
reliance of Agent or such Lenders upon this Parent Guaranty (it being understood that every
Indebtedness, liability and obligation described in Section 2 hereof shall conclusively be
presumed to have been created, contracted or incurred in reliance upon the execution of this
Parent Guaranty);




(2) notice of the making of any additional Revolving Credit Loans pursuant to the
Credit Agreement;




(3) demand of payment by Agent or any Lender from the Borrower or any other Person
(including, without limitation, any other Guarantor) indebted in any manner on or for any of
the Indebtedness, liabilities or obligations hereby guaranteed; and




(4) presentment for the payment by Agent or any Lender or any other Person of the
Revolving Credit Notes or any other instrument, protest thereof and notice of its dishonor
to any party thereto and to Parent Guarantor.



The obligations of Parent Guarantor under this Parent Guaranty and the rights of Agent and any
Lender to enforce such obligations by any proceedings, whether by action at law, suit in equity or
otherwise, shall not be subject to any reduction, limitation, impairment or termination, whether by
reason of any claim of any character whatsoever or otherwise and shall not be subject to any
defense, set-off, counterclaim (other than any compulsory counterclaim), recoupment or termination
whatsoever.



(c) The obligations of Parent Guarantor hereunder shall be binding upon the Parent Guarantor
and its successors and assigns, and shall remain in full force and effect irrespective of:




(1) the genuineness, validity, regularity or enforceability of the Revolving Credit
Loans, the Credit Agreement, any other Loan Document or any other agreement or any of the
terms of any thereof, the continuance of any obligation on the part of the Borrower or any
other Person on or in respect of the Revolving Credit Loan or under the Credit Agreement,
any other Loan Document or any other agreement or the power or authority or the lack of
power or authority of the Borrower to execute and deliver the Credit Agreement, any other
Loan Document to which it is a party or any other agreement or of Parent Guarantor to
execute and deliver this Parent Guaranty (or any Subsidiary Guarantor to execute and deliver
its Subsidiary Guaranty) or to perform any of its obligations hereunder or the existence or
continuance of the Borrower or any other Person as a legal entity; or




(2) any default, failure or delay, willful or otherwise, in the performance by the
Borrower, any Guarantor or any other Person of any obligations of any kind or character
whatsoever under Guaranteed Obligations, the Revolving Credit Loans, the Credit Agreement,
this Parent Guaranty, any other Loan Document, or any other agreement; or




(3) any creditors’ rights, bankruptcy, receivership or other insolvency proceeding of
the Borrower, any Guarantor or any other Person or in respect of the property of the
Borrower, any Guarantor or any other Person or any merger, consolidation, reorganization,
dissolution, liquidation, the sale of all or substantially all of the assets of or winding
up of the Borrower, any Guarantor or any other Person; or




(4) impossibility or illegality of performance on the part of the Borrower, any
Guarantor or any other Person of its obligations (including, without limitation, the
Guaranteed Obligations) under the Revolving Credit Loans, the Credit Agreement, this Parent
Guaranty, any other Loan Document, or any other agreements; or




(5) in respect of the Borrower or any other Person, any change of circumstances,
whether or not foreseen or foreseeable, whether or not imputable to the Borrower or any
other Person, or other impossibility of performance through fire, explosion, accident, labor
disturbance, floods, droughts, embargoes, wars (whether or not declared), civil commotion,
acts of God or the public enemy, delays or failure of suppliers or carriers, inability to
obtain materials, action of any Federal or state regulatory body or agency, change of law or
any other causes affecting performance, or any other force majeure, whether or not beyond
the control of the Borrower or any other Person and whether or not of the kind hereinbefore
specified; or




(6) any attachment, claim, demand, charge, Lien, order, process, encumbrance or any
other happening or event or reason, similar or dissimilar to the foregoing, or any
withholding or diminution at the source, by reason of any taxes, assessments, expenses,
Indebtedness, obligations or liabilities of any character, foreseen or unforeseen, and
whether or not valid, incurred by or against the Borrower, any Guarantor or any other Person
or any claims, demands, charges or Liens of any nature, foreseen or unforeseen, incurred by
the Borrower, any Guarantor or any other Person, or against any sums payable in respect of
the Guaranteed Obligations, the Revolving Credit Loans, under the Credit Agreement, this
Parent Guaranty or any other Loan Document, so that such sums would be rendered inadequate
or would be unavailable to make the payments herein provided; or




(7) any order, judgment, decree, ruling or regulation (whether or not valid) of any
court of any nation or of any political subdivision thereof or any body, agency, department,
official or administrative or regulatory agency of any thereof or any other action,
happening, event or reason whatsoever which shall delay, interfere with, hinder or prevent,
or in any way adversely affect, the performance by the Borrower, any Guarantor or any other
Person of its respective obligations under or in respect of the Guaranteed Obligations, the
Revolving Credit Loans, the Credit Agreement, this Parent Guaranty, any other Loan Document,
or any other agreement; or




(8) the failure of (i) Parent Guarantor to receive any benefit from or as a result of
its execution, delivery and performance of this Parent Guaranty or (ii) any Subsidiary
Guarantor to receive any benefit from or as a result of its execution, delivery and
performance of its Subsidiary Guaranty; or




(9) any failure or lack of diligence in collection or protection, failure in
presentment or demand for payment, protest, notice of protest, notice of default and of
nonpayment, any failure to give notice to any Guarantor of failure of the Borrower, any
Guarantor or any other Person to keep and perform any Guaranteed Obligation, any other
obligation, covenant or agreement under the terms of the Revolving Credit Loans, the Credit
Agreement, this Parent Guaranty, any Subsidiary Guaranty, any other Loan Document, or any
other agreement or failure to resort for payment to the Borrower, any Guarantor or to any
other Person or to any other guaranty or to any property, security, Liens or other rights or
remedies; or




(10) the acceptance of any additional security or other guaranty, the advance of
additional money to the Borrower or any other Person, the renewal or extension of the
Revolving Credit Loans or amendments, modifications, consents or waivers with respect to the
Revolving Credit Loans, the Credit Agreement, any other Loan Document or any other
agreement, or the sale, release, substitution or exchange of any security for the Guaranteed
Obligations; or




(11) any merger or consolidation of the Borrower, any Guarantor or any other Person
into or with any other Person or any sale, lease, transfer or other disposition of any of
the assets of the Borrower, any Guarantor or any other Person to any other Person, or any
change in the ownership of any shares or other equity interests of the Borrower, any
Guarantor or any other Person; or




(12) any defense whatsoever that: (i) the Borrower or any other Person might have to
the payment of the Revolving Credit Loans (including, principal, Fees or interest) or any
other Guaranteed Obligations, other than payment thereof in Federal or other immediately
available funds or (ii) the Borrower or any other Person might have to the performance or
observance of any of the provisions of the Revolving Credit Loans, the Credit Agreement, any
other Loan Document or any other Guaranteed Obligations, whether through the satisfaction or
purported satisfaction by the Borrower or any other Person of its debts due to any cause
such as bankruptcy, insolvency, receivership, merger, consolidation, reorganization,
dissolution, liquidation, winding-up or otherwise; or




(13) any act or failure to act with regard to the Revolving Credit Loans, the Credit
Agreement, this Parent Guaranty, any Subsidiary Guaranty, any other Loan Document or any
other agreement or Guaranteed Obligation or anything which might vary the risk of any
Subsidiary Guarantor, the Parent Guarantor or any other Person; or




(14) any other circumstance which might otherwise constitute a defense available to, or
a discharge of, any Subsidiary Guarantor, the Parent Guarantor or any other Person in
respect of the obligations (including, without limitations, the Guaranteed Obligations) of
Parent Guarantor under this Parent Guaranty or any other agreement or of the Parent
Guarantor or other Person under or any other agreement;



provided that the specific enumeration of the above-mentioned acts, failures or omissions shall not
be deemed to exclude any other acts, failures or omissions, though not specifically mentioned
above, it being the purpose and intent of this Parent Guaranty and the Parent Guarantor that the
obligations of Parent Guarantor shall be absolute and unconditional and shall not be discharged,
impaired or varied except by the payment and performance of the Guaranteed Obligations in
accordance with their respective terms whenever the same shall become due and payable as in the
Credit Agreement provided, at the place specified in and all in the manner and with the effect
provided in the Credit Agreement, as each may be amended or modified from time to time. Without
limiting the foregoing, it is understood that repeated and successive demands may be made and
recoveries may be had hereunder as and when, from time to time, the Borrower shall default under or
in respect of the terms of the Revolving Credit Loans or the Credit Agreement or any other Loan
Document to which the Borrower is a party and that notwithstanding recovery hereunder for or in
respect of any given default or defaults by the Borrower under the Revolving Credit Loans or the
Credit Agreement or any other Loan Document to which the Borrower is a party, this Parent Guaranty
shall remain in full force and effect and shall apply to each and every subsequent default.



(d) All rights of Agent and any Lender under this Parent Guaranty shall be considered to be
transferred or assigned at any time or from time to time upon the transfer of any Revolving Credit
Loan (or portion thereof) held by such Lender whether with or without the consent of or notice to
the Parent Guarantor under this Parent Guaranty or to the Borrower.



(e) To the extent of any payments made under this Parent Guaranty, the Parent Guarantor shall
be subrogated to the rights of the Agent or any Lenders upon whose Guaranteed Obligations such
payment was made, but Parent Guarantor covenants and agrees that such right of subrogation and any
and all claims of Parent Guarantor against the Borrower, any endorser or other Guarantor or against
any of their respective properties shall be junior and subordinate in right of payment to the prior
indefeasible final payment in cash in full of all of the Guaranteed Obligations and satisfaction by
the Borrower of its Obligations under the Credit Agreement and the other Loan Documents to which
the Borrower is a party and by the Parent Guarantor of its obligations under this Parent Guaranty
and the other Loan Documents to which Parent Guarantor is a party, and the Parent Guarantor shall
not take any action to enforce such right of subrogation, and the Parent Guarantor shall not accept
any payment in respect of such right of subrogation, until all of the Guaranteed Obligations
payable by the Parent Guarantor hereunder have indefeasibly been finally paid in cash in full and
all of the Guaranteed Obligations of the Borrower and the Parent Guarantor under this Parent
Guaranty and the other Loan Documents to which Parent Guarantor is a party have been satisfied.
Notwithstanding any right of any Parent Guarantor to ask, demand, sue for, take or receive any
payment from the Borrower, all rights, Liens and security interests of Parent Guarantor, whether
now or hereafter arising and howsoever existing, in any assets of the Borrower shall be and hereby
are subordinated to the rights, if any, of the Agent and the Lenders in those assets. Parent
Guarantor shall not have any right to possession of any such asset or to foreclose upon any such
asset, whether by judicial action or otherwise, unless and until all of the Guaranteed Obligations
shall have been paid in cash in full and satisfied.



(f) Parent Guarantor agrees that to the extent the Borrower or any other Person makes any
payment on any Guaranteed Obligation, which payment or any part thereof is subsequently
invalidated, voided, declared to be fraudulent or preferential, set aside, recovered, rescinded or
is required to be retained by or repaid to a trustee, receiver, or any other Person under any
bankruptcy code, common law, or equitable cause, then and to the extent of such payment, the
obligation or the part thereof intended to be satisfied shall be revived and continued in full
force and effect with respect to Parent Guarantor’s obligations hereunder, as if said payment had
not been made. The liability of Parent Guarantor hereunder shall not be reduced or discharged, in
whole or in part, by any payment to Agent or any Lender from any source that is thereafter paid,
returned or refunded in whole or in part by reason of the assertion of a claim of any kind relating
thereto, including, but not limited to, any claim for breach of contract, breach of warranty,
preference, illegality, invalidity or fraud asserted by any account debtor or by any other Person.



(g) Neither Agent nor any Lender shall be under any obligation: (1) to marshall any assets in
favor of the Parent Guarantor (or any Subsidiary Guarantor) or in payment of any or all of the
liabilities of the Borrower under or in respect of Guaranteed Obligations or under any Loan
Documents or (2) to pursue any other remedy that the Parent Guarantor (or Subsidiary Guarantors)
may or may not be able to pursue themselves and that may lighten the Subsidiary Guarantors’ (or
Parent Guarantor’s) burden, any right to which Parent Guarantor hereby expressly waives.



(h) Parent Guarantor expressly authorizes the Agent to take and hold security for the payment
and performance of the Guaranteed Obligations, to exchange, waive or release any or all such
security (with or without consideration), to enforce or apply such security and direct the order
and manner of any sale thereof in their sole discretion or to release or substitute any one or more
other guarantors or obligors upon or in respect of the Guaranteed Obligations, all without
affecting the obligations of Parent Guarantor hereunder. To the fullest extent permitted by
applicable law, Parent Guarantor waives any defense based on or arising out of any defense of the
Borrower or any other Loan Party of the unenforceability of Guaranteed Obligations or any part
thereof from any cause, or the cessation from any cause of the liability of the Borrower or any
other Loan Party, other than the indefeasible payment in full in cash of all the Guaranteed
Obligations. The Agent may, at its election, foreclose on any security held by it by one or more
judicial or non-judicial sales, accept an assignment of any such security in lieu of foreclosure,
compromise or adjust any part of the Guaranteed Obligations, make any other accommodation with the
Borrower or any other Loan Party or exercise ay other right or remedy available to them against the
Borrower or any other Loan Party, without affecting or impairing in any way the liability of any
Subsidiary Guarantor hereunder except to the extent the Guaranteed Obligations have been fully and
indefeasibly paid in full in cash. To the fullest extent permitted by applicable law, Parent
Guarantor waives any defense arising out of any such election even though such election operates,
pursuant to applicable law, to impair or to extinguish any right of reimbursement or subrogation or
other right or remedy of Parent Guarantor against the Borrower or any other Loan Party, as the case
may be, or any security.




	 	 	Section 5. Representations and Warranties of the Parent Guarantor.





Parent Guarantor represents and warrants to Agent and each Lender that:



(a) Parent Guarantor is a corporation or other legal entity duly organized, validly existing
and in good standing under the laws of its jurisdiction of organization, and is duly qualified as a
foreign corporation or other legal entity and is in good standing in each jurisdiction in which
such qualification is required by law, other than those jurisdictions as to which the failure to be
so qualified or in good standing would not, individually or in the aggregate, reasonably be
expected to have a material adverse effect on (1) the business, operations, affairs, financial
condition, assets or properties of Parent Guarantor and the Borrower and its subsidiaries, taken as
a whole, or (2) the ability of Parent Guarantor to perform its obligations under this Parent
Guaranty or (3) the validity or enforceability of this Parent Guaranty (herein in this Section 5, a
“Material Adverse Effect”). Parent Guarantor has the power and authority to own or hold under
lease the properties it purports to own or hold under lease, to transact the business it transacts
and proposes to transact, to execute and deliver this Parent Guaranty and the other Loan Documents
to which Parent Guarantor is a party and to perform the provisions hereof and thereof.



(b) Each subsidiary of Parent Guarantor is a corporation or other legal entity duly organized,
validly existing and in good standing under the laws of its jurisdiction of organization, and is
duly qualified as a foreign corporation or other legal entity and is in good standing in each
jurisdiction in which such qualification is required by law, other than those jurisdictions as to
which the failure to be so qualified or in good standing would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. Each subsidiary of Parent
Guarantor has the power and authority to own or hold under lease the properties it purports to own
or hold under lease and to transact the business it transacts and proposes to transact.



(c) This Parent Guaranty and each Loan Document to which Parent Guarantor is a party have been
duly authorized by all necessary action on the part of Parent Guarantor, and this Subsidiary
Guaranty and each Loan Document to which Parent Guarantor is a party constitutes a legal, valid and
binding obligation of Parent Guarantor enforceable against Parent Guarantor in accordance with its
terms, except as such enforceability may be limited by (1) applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights
generally and (2) general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law).



(d) The execution, delivery and performance by Parent Guarantor of this Parent Guaranty and
each Loan Document to which Parent Guarantor is a party will not (1) contravene, result in any
breach of, or constitute a default under, or result in the creation of any Lien (other than the
Liens contemplated by the Loan Documents) in respect of any property of Parent Guarantor or any of
its subsidiaries under any indenture, mortgage, deed of trust, loan, purchase or credit agreement,
lease, organizational document or any other agreement or instrument to which Parent Guarantor or
any of its subsidiaries is bound or by which Parent Guarantor or any of its subsidiaries or any of
their respective properties may be bound or affected, (2) conflict with or result in a breach of
any of the terms, conditions or provisions of any order, judgment, decree, or ruling of any court,
arbitrator or Governmental Authority applicable to Parent Guarantor or any of its subsidiaries or
(3) violate any provision of any statute or other rule or regulation of any Governmental Authority
applicable to Parent Guarantor or any of its subsidiaries.



(e) No consent, approval or authorization of, or registration, filing or declaration with, any
Governmental Authority is required in connection with the execution, delivery or performance by
Parent Guarantor of this Parent Guaranty and each Loan Document to which Parent Guarantor is a
party.



(f) (1) There are no actions, suits or proceedings pending or, to the knowledge of Parent
Guarantor, threatened against or affecting Parent Guarantor or any of its subsidiaries or any
property of Parent Guarantor or any of its subsidiaries in any court or before any arbitrator of
any kind or before or by any Governmental Authority that, individually or in the aggregate, would
reasonably be expected to have a Material Adverse Effect.



(2) Neither Parent Guarantor nor any of its subsidiaries is in default under any term of any
agreement or instrument to which it is a party or by which it is bound, or any order, judgment,
decree or ruling of any court, arbitrator or Governmental Authority or is in violation of any
applicable law, ordinance, rule or regulation (including, without limitation, Environmental Laws
and Regulations) of any Governmental Authority, which default or violation, individually or in the
aggregate, would reasonably be expected to have a Material Adverse Effect.



(g) Parent Guarantor expects to derive a direct benefit (and its board of directors or other
governing body had determined that it may reasonably be expected to derive such benefit) from: (1)
the Revolving Credit Loans and the Intercompany Loans to finance its business; (2) the successful
operations of Borrower and each Subsidiary Guarantor individually and as a group; (3) its rights of
contribution and subrogation against the Borrower and each Subsidiary Guarantor as provided herein
or under applicable law; and (4) the Credit Agreement and the other Loan Documents.



(h) Parent Guarantor is solvent, has capital not unreasonably small in relation to its
business or any contemplated or undertaken transaction and has assets having a value both at fair
valuation and at present fair salable value greater than the amount required to pay its debts as
they become due and greater than the amount that will be required to pay its probable liability on
its existing debts as they become absolute and matured. Parent Guarantor does not intend to incur,
or believe or should have believed that it will incur, debts beyond its ability to pay such debts
as they become due. Parent Guarantor will not be rendered insolvent by the execution and delivery
of, and performance of its obligations under, this Parent Guaranty. Parent Guarantor does not
intend to hinder, delay or defraud its creditors by or through the execution and delivery of, or
performance of its obligations under, this Parent Guaranty.




	 	 	Section 6. Amendments, Waivers and Consents.





(a) This Parent Guaranty may be amended, and the observance of any term hereof may be waived
(either retroactively or prospectively), with (and only with) the written consent of Parent
Guarantor and the Required Lenders, except that (but subject to the terms of Sections 2.23(b) and
10.6 of the Credit Agreement) (1) no amendment or waiver of any of the provisions of Sections 3, 4
or 5, or any defined term (as it is used therein), will be effective as to Agent or any Lender
unless consented to by Agent or such Lender in writing, and (2) no such amendment or waiver may,
without the written consent of each Lender, (i) change the percentage of the principal amount of
the Revolving Credit Commitments which are required to consent to any such amendment or waiver or
(ii) amend Section 2 or this Section 6.



(b) The Parent Guarantor will provide Agent and each Lender (irrespective of the amount of
Revolving Credit Commitments then held by it) with sufficient information, sufficiently far in
advance of the date a decision is required, to enable Agent and such Lender to make an informed and
considered decision with respect to any proposed amendment, waiver or consent in respect of any of
the provisions hereof. The Parent Guarantor will deliver executed or true and correct copies of
each amendment, waiver or consent effected pursuant to the provisions of this Section 6 to Agent
and each Lender promptly following the date on which it is executed and delivered by, or receives
the consent or approval of, the Required Lenders.



(c) Any amendment or waiver consented to as provided in this Section 6 applies equally to
Agent and all Lenders affected thereby and is binding upon them and upon each future Lender and
upon the Parent Guarantor. No such amendment or waiver will extend to or affect any obligation,
covenant or agreement not expressly amended or waived or impair any right consequent thereon. No
course of dealing between the Parent Guarantor, Agent and any Lender nor any delay in exercising
any rights hereunder shall operate as a waiver of any rights of Agent or any Lender. As used
herein, the term “this Parent Guaranty” and references thereto shall mean this Parent Guaranty as
it may from time to time be amended or supplemented.




	 	 	Section 7. Notices.





All notices and communications provided for hereunder shall be in writing and sent (a) by
telefacsimile if the sender on the same day sends a confirming copy of such notice by a recognized
overnight delivery service (charges prepaid), (b) by registered or certified mail with return
receipt requested (postage prepaid) or (c) by a recognized overnight delivery service (charges
prepaid). Any such notice must be sent:




(1) if to Agent or a Lender, to Agent or such Lender or its nominee at the address
specified for such communications in Section 10.9 of the Credit Agreement or at such other
address as Agent or such Lender shall have specified to Parent Guarantor or the Borrower in
writing, or




(2) if to Parent Guarantor, c/o the Borrower at its address set forth in Section 10.9
of the Credit Agreement to the attention of each of the Chief Financial Officer of the
Borrower, or at such other address as Parent Guarantor shall have specified to the Agent and
Lenders in writing.



Notices under this Section 7 will be deemed given in accordance with the provisions of Section 10.9
of the Credit Agreement.




	 	 	Section 8. Miscellaneous.





(a) No Remedy Exclusive. No remedy herein conferred upon or reserved to Agent or any Lender
is intended to be exclusive of any other available remedy or remedies, but each and every such
remedy shall be cumulative and shall be in addition to every other remedy given under this Parent
Guaranty now or hereafter existing at law or in equity. No delay or omission to exercise any right
or power accruing upon any default, omission or failure of performance hereunder shall impair any
such right or power or shall be construed to be a waiver thereof but any such right or power may be
exercised from time to time and as often as may be deemed expedient. In order to entitle Agent or
any Lender to exercise any remedy reserved to it under this Parent Guaranty, it shall not be
necessary for Agent or such Lender to physically produce its Revolving Credit Note in any
proceedings instituted by it or to give any notice, other than such notice as may be herein
expressly required.



(b) Payments. Parent Guarantor will pay all sums becoming due under this Parent Guaranty by
the method and at the address specified for such purpose for Agent or such Lender in Article 2 and
Section 10.3 of the Credit Agreement, or by such other method or at such other address as Agent or
any Lender shall have from time to time specified to Parent Guarantor or the Borrower on behalf of
Parent Guarantor in writing for such purpose, without the presentation or surrender of this Parent
Guaranty or any Revolving Credit Note.



(c) [Intentionally Omitted.



(d) [Intentionally Omitted.



(e) Partial Unenforceability. Any provision of this Parent Guaranty that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall (to the full extent permitted by
law) not invalidate or render unenforceable such provision in any other jurisdiction.



(f) Continued Enforceability. If the whole or any part of this Parent Guaranty shall be now
or hereafter become unenforceable against Parent Guarantor for any reason whatsoever, this Parent
Guaranty shall nevertheless be and remain fully binding upon and enforceable against each other
Guarantor as if it had been made and delivered only by such other Parent Guarantor.



(g) Successors and Assigns. This Parent Guaranty shall be binding upon Parent Guarantor and
its successors and assigns and shall inure to the benefit of Agent and each Lender and its
successors and assigns so long as its Revolving Credit Loans and the other Guaranteed Obligations
remain outstanding and unpaid.



(h) Counterparts. This Parent Guaranty may be executed in any number of counterparts, each of
which shall be an original but all of which together shall constitute one instrument. Each
counterpart may consist of a number of copies hereof, each signed by less than all, but together
signed by all, of the parties hereto.



(i) Choice of Law. This Parent Guaranty shall be construed and enforced in accordance with,
and the rights of the parties shall be governed by, the law of the State of New York excluding
choice-of-law principles of the law of such State that would require the application of the laws of
a jurisdiction other than such State.



(j) Submission to Jurisdiction. Parent Guarantor hereby irrevocably submits to
the non-exclusive jurisdiction of any State of New York court or any federal court located in New
York County, New York, New York for the adjudication of any matter arising out of or relating to
this Guaranty, and consents to the service of all writs, process and summonses by registered or
certified mail out of any such court or by service of process on Parent Guarantor at its address to
which notices are to be given pursuant to Section 7 hereof and hereby waives any requirement to
have an agent for service of process in the State of New York. Nothing contained herein shall
affect the right of Agent or any Lender to serve legal process in any other manner or to bring any
proceeding hereunder in any jurisdiction where Parent Guarantor may be amenable to suit. Parent
Guarantor hereby irrevocably waives any objection to any suit, action or proceeding in any New York
court or federal court located in New York County, New York, New York on the grounds of venue and
hereby further irrevocably waives any claim that any such suit, action or proceeding brought in any
such court has been brought in an inconvenient forum.



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In witness whereof, the undersigned has caused this Parent Guaranty
to be duly executed by an authorized representative as of the date first written above.



Grubb & Ellis Healthcare REIT II, Inc.,


a Maryland corporation



By: /s/ Shannon K S Johnson

Printed Name: Shannon K S Johnson

Its: Chief Executive Officer





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