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I the applicable Revenues, remarketing proceeds and amounts realized under the Credit Facility securing such Bonds), at a price equal to the principal amount thereof plus accrued interest, if any, thereon on each Termination Date established for such Issue. The Termination Dates for each Issue will be (i) the date that is the first Business Day of the calendar month in which the stated expiration date of the Credit Facility securing such Bonds, or in which such Credit Facility automatically terminates without notice from the Credit Facility Provider, occurs, unless there is delivered to the Trustee a Qualified Credit Facility securing such Issue as described harein under "Security and Sources of Payment for the Bonds - Substitute Credit Facilities" before the date on which the Registrar and Paying Agent is required to mail notice of such Termination Date as described herein and (ii) the effective date of any Alternate Credit Facility that replaces any Credit Facility securing such Issue. The Registrar and Paying Agent will mail notice of each Termination Date established for an Issue to the affected Bondholders at least 35 days before such Termination Date. The owner of any Bond subject to mandatory tender on a Termination Date may elect to retain such Bond or any portion thereof, if such Bond or such portion thereof is in a denomination authorized to be outstanding after the Termination Date, by delivering to the Registrar and Paying Agent irrevocable written notice of such election (a "Non -Tender Notice") on or before the 10th day of the calendar month preceding the Termination Date established for such Bonds (or, if such day is not a Business Day, the immediately preceding Business Day), which notice shall be irrevocable and must affirmatively acknowledge the matters specified in the Mandatory Tender Notice. Non-delivery of Bond If any Bond (other than a Bond as to which a Non -Tender Notice is timely delivered with respect to any Mandatory Tender Date as described above) is not tendered for purchase on any Optional Tender Date applicable to such Bond or on any Mandatory Tender Date applicable to such Bond, including any Conversion Date or Termination Date applicable to such Bond, such Bond will cease to bear interest on such Tender Date, will no longer be considered to be outstanding under the applicable Indenture as of such Tender Date and will be deemed to have been purchased on such Tender Date if there shall have been irrevocably deposited with the applicable Trustee an amount sufficient to pay the purchase price of such Bond on such Tender Date. Redemption Optional Redemption During Initial Interest Period, Variable Rate Period and on Mandatory Tender Dates The Bonds of each Issue are subject to redemption prior to maturity at the option of the Company and NHC and, so long as the Credit Facility Provider has not wrongfully failed to honor a demand for funds under the Credit Facility, only with the consent of the Credit Facility Provider (i) -11-