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paragraph shall be made unless after such transfer, there shall remain on deposit in the Principal Account an amount equal to the aggregate principal amount of such bonds outstanding to be redeemed on the immediately succeeding January 1. Investment of Moneys (Section 4.05) Moneys in any of the funds and accounts established by the Indenture will be invested by the Trustee or the Registrar and Paying Agent as directed by the Company and NHC only in the Investment Obligations maturing or redeemable at the option of the holder in such amounts and on such dates as may be necessary to provide moneys to meet the payments required from such funds and accounts, except that, so long as the Credit Facility is in effect, amounts on deposit in the Debt Service Fund will be invested only in Government Obligations maturing or redeemable at the option of the holder not more than 30 days after the date of purchase. Notwithstanding the foregoing, the Registrar and Paying Agent may, at its sole option, hold any moneys held by it under this Indenture uninvested, and nothing contarined in th9 Indenture shall be construed to obligate the Registrar and Paying Agent to invest such moneys at the direction of the Company and NHC or otherwise. Interest earned, profits realized and losses suffered by reason of any investment of the funds and accounts created by the Indenture shall be credited or charged, as the case may be, to the fund or account for which such investment is made. In computing the value of the assets of any fund or account established under the Indenture, investments and accrued interest thereon shall be deemed a part of the fund or account. Such investments will be valued at (i) the lower of amortized cost and current market value or (ii) at their redemption price thereof if then redeemable at the option of the holder (in any case net of the cost of liquidating such investments). Neither the Trustee nor the Issuer nor the Registrar and Paying Agent is liable for any depreciation in the value of any investments made from moneys in the funds or accounts created by the Indenture or for any loss arising from any investment permitted by the Indenture. Realization of Funds under Credit Facility (Section 4.07) The Trustee or the Registrar and Paying Agent (acting as the agent of the Trustee) in the case of paragraphs (i) and (iv) below and the Registrar and Paying Agent (acting as agent for the Trustee) in the case of paragraphs (ii) and (iii) below shall draw a draft under the Credit Facility (or take such other steps as shall be necessary to realize funds thereunder), to the extent permitted thereby, in the following amounts, on the following dates and in sufficient time, as indicated in the Credit Facility, to permit the -28-