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40 Tender Date and the maturity date of such Bonds, (ii) for any Short Fixed Rate Period applicable to such Bonds the day following the last day of such Fixed Rate Period, (iii) for any Long Fixed Rate Period applicable to such Bonds (other than any such Fixed Rate Period described in item (iv)), the first day of the calendar month beginning each six calendar month period after the commencement of such Fixed Rate Period that occurs during such Fixed Rate Period and the day following the last day of such Fixed Rate Period and (iv) for any Long Fixed Rate Period applicable to such bonds extending to the maturity date of such Bonds, each January 1, and July 1. "Long Fixed Rate Period" means a Fixed Rate Period of six months or longer. "Mandatory Tender Date" means each Conversion Date and any Termination Date. "Maximum Rate" means 15% per annum, or such higher maximum rate as shall be established for the Bonds of an Issue in accordance, with the applicable Indenture. "NHC" means National HealthCorp L.P., a Delaware limited partnership, and its successors and assigns. "Non -Tender Notice" means a notice given to the Registrar and Paying Agent by the holder of any Bond in accordance with such Bond of such holder's election not to tender such Bond for purchase on any Mandatory Tender Date. "Optional Tender Date" means with respect to any Bond, a date on which such Bond is required to be purchased upon the demand of the holder thereof in accordance with such Bond and as described herein under "The Bonds - Optional and Mandatory Tender - Optional Tender During Variable Rate Period." "Redemption Price" means, when used with respect to a Bond or any portion thereof, the principal amount of such Bond or portion thereof plus the applicable premium, if any, payable upon redemption thereof in accordance with such Bond. The definition of "Revenues" is set forth above under "Security and Sources of Payment for the Bonds - Limited Obligations." "Short Fixed Rate Period" means a Fixed Rate Period of fewer than six months. "Sinking Fund Installment" means the amounts provided in the Indenture to redeem or pay at maturity Bonds of an Issue at the times provided in the Indenture authorizing the issuance of such Bonds, as such amounts may be changed in accordance with such Indenture. The initial Sinking Fund Installments for the Bonds of each Issue are set forth in Appendix E hereto. -24-