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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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w <br />that nothing herein shall affect or impair the right of any Holder of any <br />Bond to enforce payment of the principal or Redemption Price of or <br />interest on or the purchase price of such Bond at the time and place, from <br />the source and in the manner expressed herein and in the Bonds. <br />Section 7.08 Actions by Trustee. All rights of action under this <br />Indenture or under any of the Bonds enforceable by the Trustee may be <br />enforced by it without the possession of any of such Bonds or the <br />production thereof at the trial or other proceeding relative thereto, and <br />any such suit, action or proceeding instituted by the Trustee shall be <br />brought in its name for the benefit of all Bondholders subject to the <br />provisions of this Indenture. <br />Section 7.09. No Remedy Exclusive. No remedy herein conferred <br />upon or reserved to the Trustee or to the Bondholders is intended to be <br />exclusive of any other remedy or remedies, and each and every such remedy <br />shall be cumulative and shall be in addition to every other remedy given <br />hereunder or now or hereafter existing at law or in equity or by statute. <br />Section 7.10. No Delay or Omission Construed as a Waiver: Waiver of <br />Default. No delay or omission of the Trustee or of any Bondholder to <br />exercise any right or power accruing upon any default shall impair any <br />such right or power, nor shall any such delay or omission be construed to <br />be a waiver of any such default or an acquiescence therein. Every power <br />and remedy given by this Article to the Trustee and the Bondholders, <br />respectively, may be exercised from time to time and as often as may be <br />deemed expedient. <br />The Trustee may, and upon the written request of the Holders of not <br />less than 208 of the Bonds shall, with respect to the Bonds, waive any <br />default that in its opinion shall have been remedied before the entry of <br />final judgment or decree in any suit, action or proceeding instituted by <br />it under the provisions of this Indenture or before the completion of the <br />enforcement of any other remedy under this Indenture; but no such waiver <br />shall extend to or affect any other existing or any subsequent default or <br />defaults or impair any rights or remedies consequent thereon. <br />Section 7.11. Notice of Default. The Trustee shall mail to all <br />owners of Bonds written notice of the occurrence of any continuing Event <br />of Default known to it within 30 days after it has obtained knowledge of <br />any such Event of Default. The Trustee shall not, however, be subject to <br />any liability to the Issuer, the Borrower and any such Bondholder by <br />reason of its failure to mail any notice required by this Section. <br />Section 7.12. Special Acceleration of Bonds. As long as a Credit <br />Facility is in effect and the Credit Facility Provider has not wrongfully <br />failed to honor any demand for funds under the Credit Facility, if the <br />Credit Facility Provider shall deliver to the Trustee written notice that <br />the Credit Facility will be terminated in accordance with the Credit <br />Facility Agreement and a demand for acceleration, then the Trustee shall <br />by written notice sent to the Issuer, NHC, the Borrower and the Registrar <br />and Paying Agent on the date of receipt of such notice from the Credit <br />- 52 - <br />
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