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1987-139
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1987-139
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9/2/2022 9:33:01 AM
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Resolutions
Resolution Number
1987-139
Approved Date
11/24/1987
Resolution Type
INDUSTRIAL DEVELOPMENT REVENUE REFUNDING BONDS
Subject
financing the acquisition of a Health Care Facility by Fl. Convalescent Centers, Inc.,
consisting of an 91-bed Nursing Home providing for issuance by ORC
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and (ii) contain the irrevocable agreement by such owner not to tender this <br />Bond for purchase pursuant to paragraph (a) of this Section on or before such <br />Mandatory Tender Date. <br />(d) Agreement to Sell Bonds on Tender Dates. The owner of this <br />Bond, by acceptance of this Bond (unless such owner has delivered a Non -Tender <br />Notice with respect to any Mandatory Tender Date as provided in paragraph (c) <br />of this Section), agrees to sell this Bond to the Remarketing Agent, the <br />Credit Facility Provider or its designee or any other party obtained by the <br />Remarketing Agent or otherwise on each Optional Tender Date or Mandatory <br />Tender Date (a "Tender Date") at a price equal to the principal amount hereof <br />plus accrued interest, if any, hereon to such Tender Date and agrees to <br />surrender this Bond to the Registrar and Paying Agent on such Tender Date. <br />(e) Non-delivery of Bonds. IF ANY BOND (OTHER THAN A BOND AS TO <br />WHICH A NON-TENDER NOTICE IS TIMELY DELIVERED WITH RESPECT TO ANY MANDATORY <br />TENDER DATE, AS PROVIDED IN PARAGRAPH (C) OF THIS SECTION) IS NOT TENDERED FOR <br />PURCHASE ON ANY TENDER DATE, SUCH BOND SHALL CEASE TO BEAR INTEREST ON SUCH <br />TENDER DATE, SHALL NO LONGER BE CONSIDERED TO BE OUTSTANDING UNDER THE <br />INDENTURE AS OF SUCH TENDER DATE AND SHALL BE DEmm TO HAVE BEEN PURCHASED ON <br />SUCH DATE IF THERE SHALL HAVE BEEN IRREVOCABLY DEPOSITED WITH THE TRUSTEE OR <br />REGISTRAR AND PAYING' AGENT AN AMOUNT SUFFICIENT TO PAY THE PURCHASE PRICE OF <br />SUCH BOND ON SUCH TENDER DATE. <br />8. Purchased Bonds Not Discharged. No purchase of Bonds by the <br />Remarketing Agent, the Registrar and Paying Agent, the Credit Facility <br />Provider or any other party shall be deemed a payment or redemption of such <br />Bonds and no such purchase will operate to extinguish or discharge the <br />indebtedness evidenced by such Bonds. <br />9. Acceleration; Defeasance. In certain events, on the conditions, <br />in the manner and with the effect set forth in the Indenture, the principal of <br />all the Bonds then outstanding under the Indenture may become or may be <br />declared due and payable before the stated maturity thereof, together with the <br />interest accrued thereon. In certain circumstances set forth in the <br />Indenture, the owners of the Bonds will receive no prior notice of such <br />declaration. In the event that the principal of all Bonds then outstanding <br />under the Indenture has been declared due and payable before the stated <br />maturity thereof, whether or not any prior notice of such declaration has been <br />given, if funds available under the Indenture to pay the principal of and <br />accrued interest on all such Bonds through and including the accelerated <br />maturity date are held by the Trustee or the Registrar and Paying Agent on <br />such accelerated maturity date, interest on such Bonds shall cease to accrue <br />on such accelerated maturity date, such Bonds shall cease to be entitled to <br />any benefit or security under the Indenture and the owners of such•Bonds shall <br />have no rights in respect of such Bonds except to receive payment of the <br />principal of and accrued interest on such Bonds on the accelerated maturity <br />date of such Bonds. <br />B-12 <br />
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