Document:

Exhibit 4.1

 

	
        

        NUMBER
	Global Medical REIT Inc.	SHARES
	*0*	A CORPORATION FORMED

UNDER THE LAWS OF THE

STATE OF MARYLAND	*0*

 

SEE REVERSE FOR IMPORTANT NOTICE ON TRANSFER
RESTRICTIONS AND OTHER INFORMATION CUSIP ______

 

This certifies that
**Specimen** is the owner of **Zero (0) ** fully paid and non-assessable Shares of 7.50% Series A Cumulative Redeemable
Preferred Stock, $0.001 par value per share (the “Shares”), of Global Medical REIT Inc. (the “Corporation”),
transferable on the books of the Corporation by the holder hereof in person or by the duly authorized attorney, upon surrender
of this Certificate properly endorsed. This Certificate and the shares represented hereby are issued and shall be held subject
to all of the provisions of the charter of the Corporation (the “Charter”) and the Bylaws of the Corporation and any
amendments or supplements thereto. This Certificate is not valid unless countersigned and registered by the Transfer Agent and
Registrar.

 

IN WITNESS WHEREOF,
the Corporation has caused this Certificate to be executed on its behalf by its duly authorized officers.

 

DATED:

 

	 	(SEAL)	 
	TREASURER	 	CHIEF EXECUTIVE OFFICER

 

COUNTERSIGNED AND REGISTERED:

 

Transfer Agent and Registrar,

As Transfer Agent and Registrar

 

	By:	 	 
	 	Authorized Signature	 

 

Dated:

 

     

     

    

 

IMPORTANT NOTICE

 

The Corporation will
furnish to any stockholder, on request and without charge, a full statement of the information required by Section 2-211(b) of
the Corporations and Associations Article of the Annotated Code of Maryland with respect to the designations and any preferences,
conversion and other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications,
and terms and conditions of redemption of the stock of each class which the Corporation has authority to issue and, if the Corporation
is authorized to issue any preferred or special class in series, (i) the differences in the relative rights and preferences between
the shares of each series to the extent set, and (ii) the authority of the Board of Directors to set such rights and preferences
of subsequent series. The foregoing summary does not purport to be complete and is subject to and qualified in its entirety by
reference to the Charter, a copy of which will be sent without charge to each stockholder who so requests. Such request must be
made to the Secretary of the Corporation at its principal office.

 

The shares represented
by this certificate are subject to restrictions on Beneficial Ownership and Constructive Ownership and Transfer among other restrictions.
All capitalized terms in this legend have the meanings defined in the Charter of the Corporation, as the same may be amended or
supplemented from time to time, a copy of which, including the restrictions on transfer and ownership, will be furnished to each
holder of Capital Stock of the Corporation on request and without charge. Requests for such a copy may be directed to the Secretary
of the Corporation at its principal office.

 

KEEP THIS CERTIFICATE IN A SAFE PLACE. IF
IT IS LOST, STOLEN OR DESTROYED, THE CORPORATION MAY REQUIRE A BOND OF INDEMNITY AS A CONDITION TO THE ISSUANCE OF A REPLACEMENT
CERTIFICATE.

 

	
        

        FOR VALUE RECEIVED, __________ HEREBY SELLS,
        ASSIGNS

        AND TRANSFERS UNTO
	

(PRINT OR TYPE NAME & ADDRESS, INCLUDING ZIP CODE & SS# OR OTHER IDENTIFYING NUMBER, OF ASSIGNEE)

 

__________(__________) shares of stock
of the Corporation represented by this Certificate and does hereby irrevocably constitute and appoint

 

____________________ attorney to transfer
the said shares on the books of the Corporation, with full power of substitution in the premises.

 

	Dated:	 	 

 

	 	 
	 	NOTICE: The Signature To This Assignment Must Correspond With The Name As Written Upon The Face Of The Certificate In Every Particular, Without Alteration Or Enlargement Or Any Other Change.Exhibit 10.1

 

FIRST AMENDMENT TO THE

AGREEMENT OF LIMITED PARTNERSHIP OF

GLOBAL MEDICAL REIT L.P.

 

DESIGNATION OF 7.50% SERIES A

CUMULATIVE REDEEMABLE PREFERRED UNITS

 

September 14, 2017

 

Pursuant to Sections
4.02 and 11.01 of the Agreement of Limited Partnership of Global Medical REIT L.P. (the “Partnership Agreement”),
the General Partner hereby amends the Partnership Agreement as follows in connection with the issuance of up to 3,105,000 shares
of 7.50% Series A Cumulative Redeemable Preferred Stock, par value $0.001 per share (the “Series A Preferred Stock”)
of the Parent REIT and the issuance to the Parent REIT of Series A Preferred Units (as defined below) in exchange for the contribution
by the Parent REIT of the net proceeds from the issuance and sale of the Series A Preferred Stock:

 

1.             Designation
and Number. A series of Preferred Units (as defined below), designated the “7.50% Series A Cumulative Redeemable Preferred
Units” (the “Series A Preferred Units”), is hereby established. The number of authorized Series
A Preferred Units shall be 3,105,000.

 

2.             Defined
Terms. Capitalized terms used herein and not otherwise defined shall have the meanings given to such terms in the Partnership
Agreement. The following defined terms used in this Amendment to the Partnership Agreement shall have the meanings specified below:

 

“Articles
Supplementary” means the Articles Supplementary of the Parent REIT filed with the State Department of Assessments
and Taxation of the State of Maryland, designating the terms, rights and preferences of the Series A Preferred Stock.

 

“Base Liquidation
Preference” shall have the meaning provided in Section 6.

 

“Business
Day” shall have the meaning provided in the Articles Supplementary.

 

“Change
of Control” shall have the meaning provided in the Articles Supplementary.

 

“Change
of Control Conversion Date” shall have the meaning provided in the Articles Supplementary.

 

“Change
of Control Conversion Right” shall have the meaning provided in Section 9(b).

 

“Common
Stock” means shares of the Parent REIT’s common stock, par value $0.001 per share.

 

“Common
Stock Price” shall have the meaning provided in the Articles Supplementary.

 

“Common
Stock Conversion Consideration” shall have the meaning provided in the Articles Supplementary.

 

     

     

    

 

“Common
Unit Economic Balance” shall have the meaning provided in Section 10(g).

 

“Conversion
Consideration” shall have the meaning provided in Section 9(d).

 

“Distribution
Record Date” shall have the meaning provided in Section 5(a).

 

“Economic
Capital Account Balance” shall have the meaning provided in Section 10(g).

 

“Junior
Units” shall have the meaning provided in Section 4.

 

“Liquidating
Gains” shall have the meaning provided in Section 10(g).

 

“Loss”
shall have the meaning provided in Section 10(h).

 

“Net Operating
Income” shall have the meaning provided in Section 10(f).

 

“Original
Issue Date” shall have the meaning provided in the Articles Supplementary.

 

“Parity
Preferred Units” shall have the meaning provided in Section 4.

 

“Partnership
Agreement” shall have the meaning provided in the recital above.

 

“Preferred
Units” means all Partnership Interests designated as preferred units by the General Partner from time to time in
accordance with Section 4.02 of the Partnership Agreement.

 

“Profit”
shall have the meaning provided in Section 10(h).

 

“Record Date”
shall have the meaning provided in the Articles Supplementary.

 

“Redemption
Date” shall have the meaning provided in Section 7(b)(iii).

 

“Regular
Redemption Right” shall have the meaning provided in Section 7(b)(i).

 

“Series
A Preferred Distribution Payment Date” shall have the meaning provided in Section 5(a).

 

“Series
A Preferred Return” shall have the meaning provided in Section 5(a).

 

“Series
A Preferred Stock” shall have the meaning provided in the recital above.

 

“Series
A Preferred Units” shall have the meaning provided in Section 1.

 

3.             Maturity.
The Series A Preferred Units have no stated maturity and will not be subject to any sinking fund or mandatory redemption.

 

    	 	2	 

     

    

 

4.             Rank.
The Series A Preferred Units will, with respect to distribution rights and rights upon liquidation, dissolution or winding up of
the Partnership, rank (a) senior to all classes or series of Common Units and LTIP Units of the Partnership and any class
or series of Preferred Units expressly designated as ranking junior to the Series A Preferred Units as to distribution rights and
rights upon liquidation, dissolution or winding up of the Partnership (together with the Common Units and the LTIP Units, the “Junior
Units”); (b) on a parity with any class or series of Preferred Units issued by the Partnership expressly designated
as ranking on a parity with the Series A Preferred Units, as to distribution rights and rights upon liquidation, dissolution or
winding up of the Partnership (the “Parity Preferred Units”); and (c) junior to any class or series
of Preferred Units issued by the Partnership expressly designated as ranking senior to the Series A Preferred Units with respect
to distribution rights and rights upon liquidation, dissolution or winding up of the Partnership. The term “Preferred
Units” does not include convertible or exchangeable debt securities of the Partnership, which will rank senior to
the Series A Preferred Units prior to conversion or exchange. The Series A Preferred Units will also rank junior in right or payment
to the Partnership’s existing and future indebtedness.

 

5.             Distributions.

 

(a)          Subject
to the preferential rights of holders of any class or series of Preferred Units of the Partnership expressly designated as ranking
senior to the Series A Preferred Units as to distributions, the holders of Series A Preferred Units shall be entitled to receive,
when, as and if authorized by the General Partner and declared by the Partnership, out of funds of the Partnership legally available
for payment of distributions, cumulative cash distributions at the rate of 7.50% per annum of the Base Liquidation Preference (as
defined below) per unit (equivalent to a fixed annual amount of $1.875 per unit) (the “Series A Preferred Return”)
from and including the Original Issue Date (or the first day following the end of the most recent distribution period for which
distributions on the Series A Preferred Units have been paid). Distributions on the Series A Preferred Units shall accrue and be
cumulative from (and including) the Original Issue Date, and shall be payable quarterly, in equal amounts, in arrears, on or about
January 31, April 30, July 31, and October 31 of each year (or, if not a Business Day, the next succeeding Business Day (each a
“Series A Preferred Distribution Payment Date”) for the period ending on such Series A Preferred Distribution
Payment Date, commencing on October 31, 2017. The amount of any distribution payable on the Series A Preferred Units for any partial
distribution period will be computed on the basis of twelve 30-day months and a 360-day year (it being understood that the distribution
payable on October 31, 2017, will be for less than the full quarterly period). Distributions will be payable to holders of record
of the Series A Preferred Units as they appear on the records of the Partnership on the Record Date (each, a “Distribution
Record Date”). The distributions payable on any Series A Preferred Distribution Payment Date shall include distributions
accumulated from the most recent Series A Preferred Distribution Payment Date (or, if none, the Original Issue Date) to, but not
including, the next Series A Preferred Distribution Payment Date. Distributions payable on the Series A Preferred Units for each
full distribution period will be computed by dividing the applicable annual Series A Preferred Return by four. After full cumulative
distributions on the Series A Preferred Units have been paid or declared and funds therefor set aside for payment with respect
to a distribution period, the holders of Series A Preferred Units will not be entitled to any further distributions with respect
to that distribution period.

 

    	 	3	 

     

    

 

(b)          No
distributions on the Series A Preferred Units shall be authorized by the General Partner or declared, paid or set apart for payment
by the Partnership at such time as the terms and provisions of any agreement of the General Partner or the Partnership, including
any agreement relating to the indebtedness of either of them, prohibits such authorization, declaration, payment or setting apart
for payment or provides that such declaration, payment or setting apart for payment would constitute a breach thereof or a default
thereunder, or if such declaration or payment shall be restricted or prohibited by law.

 

(c)          Notwithstanding
anything to the contrary contained herein, distributions on the Series A Preferred Units will accrue whether or not the restrictions
referred to in Section 5(b) exist, whether or not the Partnership has earnings, whether or not there are funds legally available
for the payment of such distributions and whether or not such distributions are authorized or declared. No interest, or sum of
money in lieu of interest, will be payable in respect of any distribution on the Series A Preferred Units which may be in arrears.
When distributions are not paid in full upon the Series A Preferred Units and any Parity Preferred Units (or a sum sufficient for
such full payment is not so set apart), all distributions declared upon the Series A Preferred Units and any Parity Preferred Units
shall be declared pro rata so that the amount of distributions declared per Series A Preferred Unit and such Parity Preferred Units
shall in all cases bear to each other the same ratio that accumulated distributions per Series A Preferred Unit and such Parity
Preferred Units (which shall not include any accrual in respect of unpaid distributions for prior distributions periods if such
Parity Preferred Units do not have a cumulative distribution) bear to each other.

 

(d)          Except
as provided in the immediately preceding paragraph, unless full cumulative distributions on the Series A Preferred Units have been
or contemporaneously are declared and paid in cash or declared and a sum sufficient for the payment thereof is set apart for payment
for all past distribution periods that have ended, no distributions (other than a distribution in Junior Units or in options, warrants
or rights to subscribe for or purchase any such Junior Units) shall be declared and paid or declared and set apart for payment
nor shall any other distribution be declared and made upon the Junior Units or the Parity Preferred Units, nor shall any Junior
Units or Parity Preferred Units be redeemed, purchased or otherwise acquired for any consideration (or any monies be paid to or
made available for a sinking fund for the redemption of any such Units) by the Partnership (except (i) by conversion into or exchange
for Junior Units, (ii) the purchase of Series A Preferred Units, Junior Units or Parity Preferred Units in connection with a redemption
of stock pursuant to the Articles Supplementary to the extent necessary to preserve the Parent REIT’s qualification as a
REIT or (iii) the purchase of Parity Preferred Units pursuant to a purchase or exchange offer made on the same terms to holders
of all outstanding Series A Preferred Units). Holders of the Series A Preferred Units shall not be entitled to any distribution,
whether payable in cash, property or units, in excess of full cumulative distributions on the Series A Preferred Units as provided
above. Any distribution made on the Series A Preferred Units shall first be credited against the earliest accrued but unpaid distribution
due with respect to such units which remains payable. Accrued but unpaid distributions on the Series A Preferred Units will accrue
as of the Series A Preferred Distribution Payment Date on which they first become payable.

 

    	 	4	 

     

    

 

(e)          For
the avoidance of doubt, in determining whether a distribution (other than upon voluntary or involuntary liquidation) by distribution,
redemption or other acquisition of the Partnership Units is permitted under Delaware law, no effect shall be given to the amounts
that would be needed, if the Partnership were to be dissolved at the time of the distribution, to satisfy the preferential rights
upon distribution of holders of Partnership Units whose preferential rights are superior to those receiving the distribution.

 

6.             Liquidation
Preference. Upon any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Partnership, the
holders of Series A Preferred Units are entitled to be paid out of the assets of the Partnership legally available for distribution
to its partners, after payment of or provision for the Partnership’s debts and other liabilities, a liquidation preference
of $25.00 per unit (the “Base Liquidation Preference”), plus an amount equal to any accrued but unpaid
distributions (whether or not authorized or declared) thereon to, but not including, the date of payment, but without interest,
before any distribution of assets is made to holders of Junior Units. If the assets of the Partnership legally available for distribution
to partners are insufficient to pay in full the liquidation preference on the Series A Preferred Units and the liquidation preference
on any Parity Preferred Units, all assets distributed to the holders of the Series A Preferred Units and any Parity Preferred Units
shall be distributed pro rata so that the amount of assets distributed per Series A Preferred Unit and such Parity Preferred Units
shall in all cases bear to each other the same ratio that the liquidation preference per Series A Preferred Unit and such Parity
Preferred Units bear to each other. Notice of any distribution in connection with any such liquidation, dissolution or winding
up of the affairs of the Partnership, stating the payment date or dates when, and the place or places where, the amounts distributable
in such circumstances shall be payable, shall be given not less than 30 nor more than 60 days prior to the payment date stated
therein, to each record holder of the Series A Preferred Units at the respective addresses of such holders as the same shall appear
on the records of the Partnership. After payment of the full amount of the liquidating distributions to which they are entitled,
the holders of Series A Preferred Units will have no right or claim to any of the remaining assets of the Partnership. The consolidation
or merger of the Partnership with or into another entity, a merger of another entity with or into the Partnership, a statutory
exchange by the Partnership or a sale, lease, transfer or conveyance of all or substantially all of the Partnership’s property
or business shall not be deemed to constitute a liquidation, dissolution or winding up of the affairs of the Partnership.

 

    	 	5	 

     

    

 

7.             Redemption.

 

(a)          The
Series A Preferred Units are not redeemable except as otherwise provided in this Section 7.

 

(b)          In
connection with any redemption by the Parent REIT of any shares of Series A Preferred Stock pursuant to Section 6 of the Articles
Supplementary, the Partnership shall redeem, on the date of such redemption, an equal number of Series A Preferred Units held by
the Parent REIT. As consideration for the redemption of such Series A Preferred Units, the Partnership shall deliver to the Parent
REIT an amount of cash equal to the amount of cash paid by the Parent REIT to the holder of such shares of Series A Preferred Stock
in connection with the redemption thereof.

 

8.             Voting
Rights. Holders of the Series A Preferred Units will not have any voting rights.

 

9.             Conversion.

 

(a)          The
Series A Preferred Units are not convertible or exchangeable for any other property or securities except as otherwise provided
in this Section 9.

 

(b)          In
the event that a holder of Series A Preferred Stock of the Parent REIT exercises its right to convert the Series A Preferred Stock
into Common Stock of the Parent REIT in accordance with the terms of the Articles Supplementary, then, concurrently therewith,
an equivalent number of Series A Preferred Units of the Partnership held by the Parent REIT shall be automatically converted into
a number of Common Units of the Partnership equal to the number of shares of Common Stock issued upon conversion of such Series
A Preferred Shares; provided, however, that if a holder of Series A Preferred Stock of the Parent REIT receives cash or other consideration
in addition to or in lieu of Common Stock in connection with such conversion, then the Parent REIT, as the holder of the Series
A Preferred Units, shall be entitled to receive cash or such other consideration equal (in amount and form) to the cash or other
consideration to be paid by the Parent REIT to such holder of the Series A Preferred Stock. Any such conversion will be effective
at the same time the conversion of Series A Preferred Stock into Common Stock is effective.

 

(c)          No
fractional units will be issued in connection with the conversion of Series A Preferred Units into Common Units. In lieu of fractional
Common Units, the Parent REIT shall be entitled to receive a cash payment in respect of any fractional unit in an amount equal
to the fractional interest multiplied by the Common Stock Price used in determining the Common Stock Conversion Consideration under
the Articles Supplementary.

 

10.           Allocation
of Profit and Loss.

 

Section 5.01 of the
Partnership Agreement is hereby deleted in its entirety and the following new Section 5.01 is inserted in its place:

 

(a)         Profit.
After giving effect to the special allocations set forth in Section 5.01(c), (d), and (e) hereof, and subject to Section 5.01(f),
Profit of the Partnership for each fiscal year of the Partnership shall be allocated to the Partners in accordance with their respective
Percentage Interests.

 

    	 	6	 

     

    

 

(b)          Loss.
After giving effect to the special allocations set forth in Section 5.01(c), (d), and (e) hereof, and subject to Section 5.01(f),
Loss of the Partnership for each fiscal year of the Partnership shall be allocated to the Partners in accordance with their respective
Percentage Interests.

 

(c)         Minimum
Gain Chargeback. Notwithstanding any provision to the contrary, (i) any expense of the Partnership that is a “nonrecourse
deduction” within the meaning of Regulations Section 1.704-2(b)(1) shall be allocated in accordance with the Partners’
respective Percentage Interests, (ii) any expense of the Partnership that is a “partner nonrecourse deduction” within
the meaning of Regulations Section 1.704-2(i)(2) shall be allocated to the Partner that bears the “economic risk of loss”
of such deduction in accordance with Regulations Section 1.704-2(i)(1), (iii) if there is a net decrease in Partnership Minimum
Gain within the meaning of Regulations Section 1.704-2(f)(1) for any Partnership taxable year, then, subject to the exceptions
set forth in Regulations Section 1.704-2(f)(2),(3), (4) and (5), items of gain and income shall be allocated among the Partners
in accordance with Regulations Section 1.704-2(f) and the ordering rules contained in Regulations Section 1.704-2(j), and (iv)
if there is a net decrease in Partner Nonrecourse Debt Minimum Gain within the meaning of Regulations Section 1.704-2(i)(4) for
any Partnership taxable year, then, subject to the exceptions set forth in Regulations Section 1.704(2)(g), items of gain and income
shall be allocated among the Partners in accordance with Regulations Section 1.704-2(i)(4) and the ordering rules contained in
Regulations Section 1.704-2(j). The manner in which it is reasonably expected that the deductions attributable to nonrecourse liabilities
will be allocated for purposes of determining a Partner’s share of the nonrecourse liabilities of the Partnership within
the meaning of Regulations Section 1.752-3(a)(3) shall be in accordance with a Partner’s Percentage Interest.

 

(d)          Qualified
Income Offset. If a Partner receives in any taxable year an adjustment, allocation or distribution described in subparagraphs
(4), (5) or (6) of Regulations Section 1.704-1(b)(2)(ii)(d) that causes or increases a deficit balance in such Partner’s
Capital Account that exceeds the sum of such Partner’s shares of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum
Gain, as determined in accordance with Regulations Sections 1.704-2(g) and 1.704-2(i), such Partner shall be allocated specially
for such taxable year (and, if necessary, later taxable years) items of income and gain in an amount and manner sufficient to eliminate
such deficit Capital Account balance as quickly as possible as provided in Regulations Section 1.704-1(b)(2)(ii)(d). After the
occurrence of an allocation of income or gain to a Partner in accordance with this Section 5.01(d), to the extent permitted by
Regulations Section 1.704-1(b), items of expense or loss shall be allocated to such Partner in an amount necessary to offset the
income or gain previously allocated to such Partner under this Section 5.01(d).

 

(e)          Capital
Account Deficits. Loss shall not be allocated to a Limited Partner to the extent that such allocation would cause a deficit
in such Partner’s Capital Account (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4),
(5) and (6)) to exceed the sum of such Partner’s shares of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum
Gain. Any Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of
Loss to the General Partner in accordance with this Section 5.01(e), to the extent permitted by Regulations Section 1.704-1(b),
Profit shall be allocated to such Partner in an amount necessary to offset the Loss previously allocated to each Partner under
this Section 5.01(e).

 

    	 	7	 

     

    

 

(f)         Priority
Allocations With Respect To Preferred Units. After giving effect to the allocations set forth in Sections 5.01(c), (d), and
(e) hereof, but before giving effect to the allocations set forth in Sections 5.01(a) and 5.01(b), Net Operating Income shall be
allocated to the Parent REIT until the aggregate amount of Net Operating Income allocated to the Parent REIT under this Section
5.01(f) for the current and all prior years equals the aggregate amount of the Series A Preferred Return paid to the Parent REIT
for the current and all prior years; provided, however, that the General Partner may, in its discretion, allocate Net Operating
Income based on accrued Series A Preferred Return with respect to the January Series A Preferred Distribution Payment Date if the
General Partner sets the Distribution Record Date for such Series A Preferred Distribution Payment Date on or prior to December
31 of the previous year. For purposes of this Section 5.01(f), “Net Operating Income” means the excess,
if any, of the Partnership’s gross income over its expenses (but not taking into account depreciation, amortization, or any
other noncash expenses of the Partnership), calculated in accordance with the principles of Section 5.01(h) hereof.

 

(g)          Special
Allocations Regarding LTIP Units. Notwithstanding the provisions of Sections 5.01(a) and (b) hereof, Liquidating Gains shall
first be allocated to the LTIP Unitholders until their Economic Capital Account Balances, to the extent attributable to their ownership
of LTIP Units, are equal to (i) the Common Unit Economic Balance, multiplied by (ii) the number of their LTIP Units. For this purpose,
“Liquidating Gains” means net capital gains realized in connection with the actual or hypothetical sale
of all or substantially all of the assets of the Partnership, including but not limited to net capital gain realized in connection
with an adjustment to the value of Partnership assets under Section 704(b) of the Code. The “Economic Capital Account
Balances” of the LTIP Unitholders will be equal to their Capital Account balances plus shares of Partner Nonrecourse
Debt Minimum Gain or Partnership Minimum Gain (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4),
(5) and (6)) to the extent attributable to their ownership of LTIP Units. Similarly, the “Common Unit Economic Balance”
shall mean (i) the Capital Account balance of the Parent REIT, plus the amount of the Parent REIT’s share of any Partner
Nonrecourse Debt Minimum Gain or Partnership Minimum Gain (after reduction to reflect the items described in Regulations Section
1.704-1(b)(2)(ii)(d)(4), (5) and (6)), in either case to the extent attributable to the Parent REIT’s direct or indirect
ownership of Common Units and computed on a hypothetical basis after taking into account all allocations through the date on which
any allocation is made under this Section 5.01(g), divided by (ii) the number of Common Units directly or indirectly owned by the
Parent REIT. Any such allocations shall be made among the LTIP Unitholders in proportion to the amounts required to be allocated
to each under this Section 5.01(g). The parties agree that the intent of this Section 5.01(g) is to make the Capital Account balance
associated with each LTIP Unit to be economically equivalent to the Capital Account balance associated with Common Units directly
or indirectly owned by the Parent REIT (on a per-Unit basis).

 

    	 	8	 

     

    

 

(h)          Definition
of Profit and Loss. “Profit” and “Loss” and any items of income, gain,
expense or loss referred to in this Agreement shall be determined in accordance with federal income tax accounting principles,
as modified by Regulations Section 1.704-1(b)(2)(iv), except that Profit and Loss shall not include items of income, gain and expense
that are specially allocated pursuant to Sections 5.01(c), 5.01(d), 5.01(e), or 5.01(f) hereof. All allocations of income, Profit,
gain, Loss and expense (and all items contained therein) for federal income tax purposes shall be identical to all allocations
of such items set forth in this Section 5.01, except as otherwise required by Section 704(c) of the Code and Regulations Section
1.704-1(b)(4). With respect to properties acquired by the Partnership, the General Partner shall have the authority to elect the
method to be used by the Partnership for allocating items of income, gain and expense as required by Section 704(c) of the Code
with respect to such properties, and such election shall be binding on all Partners.

 

(i)          Allocations
Between Transferor and Transferee. If a Partner transfers any part or all of its Partnership Interest, the various items of
Profit and Loss allocable among the Partners during such fiscal year of the Partnership shall be allocated between the transferor
and the transferee Partner either (i) as if the Partnership’s fiscal year had ended on the date of the transfer, or
(ii) based on the number of days of such fiscal year that each was a Partner without regard to the results of Partnership
activities in the respective portions of such fiscal year in which the transferor and the transferee were Partners. The General
Partner, in its sole and absolute discretion, shall determine which method shall be used to allocate the various items of Profit
and Loss between the transferor and the transferee Partner.

 

11.           Except
as modified herein, all terms and conditions of the Partnership Agreement shall remain in full force and effect, which terms and
conditions the General Partner hereby ratifies and confirms.

 

    	 	9	 

     

    

 

IN WITNESS WHEREOF,
the undersigned has executed this Amendment as of the date first set forth above.

 

	 	GENERAL PARTNER:
	 	 
	 	GLOBAL MEDICAL REIT GP LLC,
	 	a Delaware limited liability company,
	 	 
	 	By: GLOBAL MEDICAL REIT INC.,
	 	a Maryland corporation
	 	 	 
	 	By:	/s/ Jamie A. Barber
	 	Name:	Jamie A. Barber
	 	Title:	General Counsel and Secretary

 

[Signature page for First Amendment to
Partnership Agreement – September 2017]

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