New Mexico Hospital Equipment Loan Council
CUSIP 647370EL5
- Issue Currency: United States of America Dollars
- Announcement Date: 28-Oct-2015
- News: Municipal Name: New Mexico Hospital Equipment Loan Council CUSIP: 647370EL5 Currency: USD New Mexico Hospital Equipment Loan Council announced today that the Standby Bond Purchase Agreement relating to the New Mexico Hospital Equipment Loan Council Hospital System Revenue Series 2008C Bonds was extended to November 23, 2018 on October 26, 2015. For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 18-Oct-2016
- News: As you have been previously informed, the Borrower failed to maintain the required Debt Service Coverage Ratio for Fiscal Year 2014 and failed to maintain the required Days Cash On Hand for Fiscal Year 2014, both as required by the Loan Agreement (the Existing Defaults). Entry into Forbearance Agreement The Trustee and the holder of a majority in aggregate principal amount of the Bonds (the Majority Bondholders) have been in contact with the Borrower regarding the Existing Defaults. The Trustee, at the direction of the Majority Bondholders, entered into a Forbearance Agreement (the Forbearance Agreement) with the Borrower dated as of March 1, 2016. The Forbearance Agreement is effective through the earlier of December 31, 2016 and the occurrence of a Forbearance Termination Event (as that term is defined in the Forbearance Agreement). Pursuant to the Forbearance Agreement, the Trustee has agreed to forbear from the exercise of any rights or remedies under the Indenture or other related bond documents arising by reason of the Existing Defaults or from otherwise taking action with respect to the Existing Defaults through the end of the Forbearance Period For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 18-Oct-2016
- News: As you have been previously informed, the Borrower failed to maintain the required Debt Service Coverage Ratio for Fiscal Year 2014 and failed to maintain the required Days Cash On Hand for Fiscal Year 2014, both as required by the Loan Agreement (the Existing Defaults). Entry into Forbearance Agreement The Trustee and the holder of a majority in aggregate principal amount of the Bonds (the Majority Bondholders) have been in contact with the Borrower regarding the Existing Defaults. The Trustee, at the direction of the Majority Bondholders, entered into a Forbearance Agreement (the Forbearance Agreement) with the Borrower dated as of March 1, 2016. The Forbearance Agreement is effective through the earlier of December 31, 2016 and the occurrence of a Forbearance Termination Event (as that term is defined in the Forbearance Agreement). Pursuant to the Forbearance Agreement, the Trustee has agreed to forbear from the exercise of any rights or remedies under the Indenture or other related bond documents arising by reason of the Existing Defaults or from otherwise taking action with respect to the Existing Defaults through the end of the Forbearance Period For Bond Document please visit www.BondPDF.com
