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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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40 <br />Facility Provider or the next succeeding Business Day, whichever is the <br />earlier date on which the Trustee (or the Registrar and Paying Agent as <br />its agent) has sufficient time, as indicated in the Credit Facility, to <br />draw a draft or take such other steps as are necessary to realize funds <br />under the Credit Facility pursuant to Section 4.07 hereof in the amounts <br />necessary to pay the principal of and accrued interest on the Outstanding <br />Bonds on the accelerated maturity date, declare the principal of the <br />Outstanding Bonds and the interest accrued thereon to be due and payable <br />immediately, and upon such declaration the same shall become and be <br />immediately due and payable, anything in this Indenture or in any of the <br />Bonds contained to the contrary notwithstanding. Immediately upon the <br />receipt of written notice from the Credit Facility Provider that the <br />Credit Facility will be terminated in accordance with the Credit Facility <br />Agreement, the Trustee shall notify the Registrar and Paying Agent, by <br />celecopy or other electronic transmission that leaves a written record or <br />by telephone (prompty confirmed in writing), of the receipt of such notice <br />and the accelerated maturity date. Any declaration of acceleration made <br />in accordance with this Section may not be waived, rescinded or annulled <br />by the Trustee or the holders of the Bonds. Upon any such declaration, <br />the Trustee (or the Registrar and Paying Agent as its agent) shall <br />immediately (i) draw a draft or take such other steps as are necessary to <br />realize funds under the Credit Facility in accordance with the provisions <br />of Section 4.07 hereof and (ii) give notice thereof to the Bondholders in <br />accordance with the terms of the Bonds. <br />- 53 - <br />
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