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1987-139
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1987-139
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9/2/2022 9:33:01 AM
Creation date
9/1/2022 9:39:10 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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r-. <br />the Credit Facility except to any successor Trustee under this Indenture, <br />except that the Trustee may transfer its rights to make drawings under the <br />Credit Facility to the Registrar and Paying Agent. The Registrar and <br />Paying Agent shall not transfer its rights to make drawings under the <br />Credit Facility to any person other than the Trustee. <br />(b) The Borrower, with the written consent of NHC, may at any time <br />and from time to time deliver to the Trustee a Qualified Credit Facility <br />or an Alternate Credit Facility subject to and in accordance with the <br />provisions of Section 3.03 of the Loan Agreement. Upon the effective date <br />of any such substitute Qualified Credit Facility or Alternate Credit <br />Facility, the Trustee shall surrender the Credit Facility in effect prior <br />to the delivery of such substitute Credit Facility, if any, to the <br />provider thereof. <br />(c) If any Credit Facility shall be delivered to the Trustee in <br />accordance with this Section, the Trustee shall immediately notify the <br />Registrar and Paying Agent thereof and, in the case of the delivery of any <br />Alternate Credit Facility, the Registrar and Paying Agent shall mail a <br />Mandatory Tender Notice to the Bondholders in accordance with Section 3.04 <br />hereof. <br />Section 5.08. Bonds Not to be Purchased by Issuer on Tender Dates. <br />The Issuer shall not purchase or attempt to purchase, or permit any of its <br />affiliates or agents to purchase or attempt to purchase any Bonds tendered <br />for purchase on any Tender Date applicable to such Bonds. <br />- 40 - <br />
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