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32-89 Hospital Improvement Revenue Bonds $36 mil
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32-89 Hospital Improvement Revenue Bonds $36 mil
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Last modified
5/14/2013 3:06:42 PM
Creation date
9/5/2003 12:16:23 PM
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Office Of Council
Document Type
Ordinances
Date
9/5/2003
Date Adopted
6/5/1989
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with adequate title insurance, or rights of way permitting the Hospital <br /> Facilities' access to other facilities owned or controlled by the <br /> Operator, (v) any liens for ad valorem taxes, special assessments or <br /> other governmental charges not then delinquent or if delinquent being <br /> contested as provided in Section 6.3 of the Indenture and of the Subord- <br /> inated Indenture, (vi) mechanic's, laborer's materialman's, supplier's, <br /> or vendor's lien or right to a purchase money security interest in <br /> respect thereof if payment is not yet due and payable under the contract <br /> in question, or if such lien is contested in good faith, (vii) amy lien <br /> which secures Secured Hospital Debt for which the Trustee has received <br /> an Officer's Certificate stating that the test for permitted Secured <br /> Hospital Debt has been met, (viii) liens arising by reason of good faith <br /> deposits in connection with tenders, leases of real estate, bids or <br /> contracts (other than contracts for the payment of money), deposits to <br /> secure public or statutory obligations, or to secure, or in lieu of, <br /> surety, stay or appeal bonds and deposits of security for the payment of <br /> taxes or assessments or other similar charges, (ix) any lien arising by <br /> reason of deposits with, or the giving of any form of security to, any <br /> governmental agency or any body created or approved by law or govern- <br /> mental regulation for any purpose at any time as required by law or <br /> governmental regulation (A) as a condition to the transaction of any <br /> business or the exercise of any privilege or license, or (B) to enable <br /> the Operator to maintain self-insurance or to participate in any funds ' <br /> established to cover any insurance risks or in connection with workers' <br /> compensation, unemployment insurance, old-age pensions or other social <br /> security, or to share in the privileges or benefits required for compan- <br /> ies participating in such'arrangements, (x) any jUdgment lien or no:ice <br />· of pending action, so long as the finality of such judgment or the <br /> pending action is being contested and execution thereon is stayed or the <br /> period for responsive pleading has not elapsed or provision for payment <br /> of the judgment has been made in accordance with applicable law or by <br /> the deposit of cash or eligible investments with the trustee or a <br /> commercial bank or trust company acceptable to the Trustee, (xi) <br /> existing liens, provided they are not renewed or extended on more <br /> stringent terms, (xii) liens resulting from governmental regulations on <br /> the use of Property, (xiii) liens securing Hospital Debt permitted under <br /> the Indenture, (xiv) liens on Property arising from the rights of third <br /> party payors for recoupment of amounts paid to the Operator, (xv) liens <br /> on Property acquired by the Operator if the assumption of the Hospital <br /> Debt secured by such lien is additional Hospital Debt permitted under <br /> the Indenture and if an Officer's Certificate is delivered to the <br /> Trustee certifying that (A) such lien and the Hospital Debt secured <br /> thereby were created and incurred by a person other than the Operator <br /> prior to acquisition of such Property by the Operator, (B) such lien was <br /> created prior to the decision of the Operator to acquire the Property <br /> and was not created for the purpose of enabling the Operator to avoid <br /> the limitations of the Indenture on creation of liens on Property, and <br /> (C) the lien attaches solely to the Property and does not extend by its <br /> terms to other Property of the Operator, and (xvi) such minor defects, <br /> irregularities, encumbrances, utility, access and other easements and <br /> rights of way, restrictions, reservations, exceptions and clouds on <br /> title as normally exist with respect to properties similar in character <br /> to the Hospital Facilities and as do not in the opinion of Independent <br /> <br />-9- <br /> <br /> <br />
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