CUSIP 63166UAP6
- ISIN: US63166UAP66
- Entity Name: Nassau County Industrial Development Agency
- Sector: Municipal Agency
- Announcement Date: *****
- Effective Date: *****
- Issue Date: *****
- Maturity Date: *****
- Country of Issuer: *****
- Region: N.Amer
- Issue Currency: *****
- CA Type: Covenant Waiver
- News: THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE SERIES 2014 BONDS. IF YOU RECEIVE THIS NOTICE AND ARE ACTING FOR A BENEFICIAL OWNER, PLEASE SEND THIS NOTICE TO THE BENEFICIAL OWNER(S) IMMEDIATELY. UMB Bank, N.A. serves as trustee (the Trustee) with respect to those certain Series 2014 Bonds issued under that certain Indenture of Trust, dated as of November 1, 2014 (the 2014 Indenture) between the Nassau County Industrial Development Agency and the Trustee. The proceeds of the Series 2014 Bonds were used to refinance a continuing care retirement community known as The Amsterdam at Harborside located in North Hempstead, Nassau County, New York (the Community). 1 No representation is made as to the correctness of the CUSIP Numbers which are included solely for the convenience of the holders of the Series 2014 Bonds. Holders of the Nassau County Industrial Development Authority Continuing Care Retirement Community Revenue Bonds (Amsterdam at Harborside Project) Series 2007A, B and C Page 2 The purpose of the notice is to advise holders of the Series 2014 Bonds that the Trustee has waived certain covenants applicable to the Series 2014 Bonds, with the direction of holders of a majority in principal amount of the Series 2014 Bonds, as follows: (a) The requirement to meet the AL Occupancy Target for the fiscal quarters ending December 31, 2017 and March 31, 2018; (b) The requirement for delivery of a Management Consultants report and plan based on the failure to meet the AL Occupancy Target, as described in (a) above; and (c) The Event of Default resulting from the failure to meet the AL Occupancy Target for the two consecutive quarters ended March 31, 2018. Except as described in this notice, no other provisions of the documents relating to the Series 2014 Bonds have been waived.
- Description: *****
- Bond Document: https://www.bondpdf.com/
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US63166UAP66
