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40 efforts to market the Bonds (other than Bonds as to which a Non -Tender Notice is given as described herein with respect to any Mandatory Tender Date applicable to such Bonds) on the Tender Dates applicable to such Bonds. The Remarketing Agent is not required to remarket any Bonds of an Issue after any Event of Default has occurred under the applicable Indenture and under certain other Circumstances specified in the Remarketing Agreement. The Remarketing Agent, in its individual capacity, may become the owner of or may in good faith buy, sell, own, hold and deal in any Bonds with the same rights as if it were not the Remarketing Agent. The Remarketing Agent may resign or may be removed under each separate Indenture by the Company and NHC at any time or from time to time. Following any resignation or removal of the Remarketing Agent under any Indenture, the Trustee is required to appoint a successor Remarketing Agent satisfactory to the Company and NHC. Registration and Exchange of Bonds The transfer of Bonds is registrable by the registered owners thereof and the Bonds may be exchanged for an equal aggregate principal amount of Bonds of the same Issue of other authorized denominations upon presentation and surrender of the Bonds at the corporate trust office of the Registrar and Paying Agent designated in accordance with the Indenture, together with an assignment duly executed by the respective registered owners or their duly authorized attorneys or legal representatives. The Registrar and Paying Agent may require the person requesting any transfer or exchange to reimburse it for any tax or other governmental charge payable in connection therewith. The Registrar and Paying Agent is not required to register the transfer of any Bonds (except any transfer of a Bond pursuant to a purchase of such Bond with amounts realized under a Credit Facility) (i) after a notice of the redemption of such Bond or any portion thereof has been mailed or (ii) prior to the Optional Tender Date for such Bond after an Optional Tender Notice with respect to such Bond has been received by the Registrar and Paying Agent or (iii) prior to the Mandatory Tender Date applicable to such Bonds after a Mandatory Tender Notice has been mailed --in each case unless the transferee delivers to the Registrar and Paying Agent a written acknowledgement of the matters contained in such notice. SECURITY AND SOURCES OF PAYMENT FOR THE BONDS Limited Obligations The Bonds of each Issue are special obligations of the Issuer thereof, the principal or Redemption Price of and interest on which, and the purchase price of which, are payable solely from the applicable Revenues and, to the extent provided in each separate Indenture, proceeds of the remarketing of such Bonds and amounts realized under the Credit Facility securing such -16-