Financing agreement

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  • Publicado : 29 de diciembre de 2010
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FINANCING AGREEMENT by and among COULEE MEDICAL FOUNDATION, the Issuer DOUGLAS, GRANT, LINCOLN & OKANOGAN COUNTIES PUBLIC HOSPITAL DISTRICT NO. 6, the District U.S. BANK NATIONAL ASSOCIATION, the Trustee and RED MORTGAGE CAPITAL, INC., the Lender

Relating to $23,165,000 Coulee Medical Foundation Taxable Revenue Build America Bonds (Direct Pay) (GNMA Collateralized-Coulee Medical Center)Series 2009A

Dated as of October 1, 2009

TABLE OF CONTENTS

ARTICLE I. DEFINITIONS ...........................................................................................................2 Section 1.01. Definitions......................................................................................................2 Section 1.02. Rules of Construction....................................................................................2 ARTICLE II. REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS........................2 Section 2.01. Representations and Warranties of the Issuer................................................2 Section 2.02. Representations, Warranties and Undertakings of the Lender.......................6 Section 2.03. Warranty of Truth..........................................................................................8 Section 2.04. Designation of 2009A Bonds.........................................................................8 Section 2.05. Representations and Warranties of the District. ............................................8 Section 2.06. Rebate Analyst.............................................................................................11 ARTICLE III. THE FINANCING TRANSACTION....................................................................11 Section 3.01. Financing Structure......................................................................................11 Section 3.02. Delivery of the GNMA Securities. ..............................................................12 Section 3.03. The GNMASecurities; Disbursements From the Acquisition Fund. ..........12 Section 3.04. Establishment of Completion Date. .............................................................15 Section 3.05. Sufficiency of Funds. ...................................................................................15 Section 3.06. Lender Loan to Issuer..................................................................................15 Section 3.07. Failure To Deliver PLC by the Date Required Under Indenture. ................16 Section 3.08. Payments by Issuer. .....................................................................................17 Section 3.09. Issuer’s Repayment of Mortgage Loan........................................................18 ARTICLE IV. PAYMENTS; SPECIAL COVENANTS OFTHE ISSUER.................................19 Section 4.01. Adequate Payments......................................................................................19 Section 4.02. Operation of the Project. ..............................................................................19 Section 4.03. Compliance With Applicable Laws.............................................................19 Section 4.04. Payments by Issuer. .....................................................................................20 Section 4.05. Maintenance of Corporate Existence and Status. ........................................20 Section 4.06. Merger, Dissolution and Disposition of Property. .......................................20 Section 4.07. Lender’s Rights to Mortgage Loan..............................................................21 ARTICLE V. ADDITIONAL COVENANTS AND AGREEMENTS .........................................21 Section 5.01. Absolute and Unconditional Obligation; Limited Recourse........................21 Section 5.02. No Defense...................................................................................................23 Section 5.03. Waiver of...
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