08-83 Hospital Improvement revenue bonds

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"Prior Indenture" means the Trust Indenture, dated as of August 1, 1970, between the Issuer and The Ohio National Bank of Columbus, as Trustee, as amended and supplemented by the First Supple- mental Trust Indenture, dated as of February 1, 1982, between the Issuer and BancOhio National Bank, as Trustee. "Prior Revenue Bonds" means, collectively, the Issuer's out- standing Hospital Improvement Revenue Bonds, dated August 1, 1'970, and the I.ssuer's outstanding Hospital Improvement Revenue Bonds - Series 1982, dated February 1, 1982. "Project" means, as used in any Series Bond Legislation autho- rizing the issuance of a Series of Bonds to pay Costs of Hospital Facil- ities, the acquisition, construction, remodeling, renovation, improve- ment, enlargement, equipping or furnishing of the Hospital Facilities to be financed in whole or in part with the proceeds of Bonds of such Series. "Projected Annual Requirements" means the aggregate amount re- quired to be paid (other than from proceeds of Bonds) for the payment of Bond Service Charges, ~ncluding that amount to be required to be paid on any Additional Bonds proposed to be issued, in any applicable complete Fiscal Year following the completion of the construction, acquisition, or improvement to be financed from the proceeds of the Additional Bonds proposed to be issued. "Projected Earnings Test" means that (i) one-half of the aggregate Projected Net Annual Income for the two complete Fiscal Years following the completion of the construction, acquisition, or improve- ment to be financed from the proceeds of the Additional Bonds proposed to be issued is at least 120 percent of the maximum Projected Annual Requirements in any subsequent Fiscal Year; and (ii) the Projected Net Annual Income for each of the two complete Fiscal Years following the completion of the construction, acquisition or improvement to be financed from the proceeds of the Additional Bonds proposed to be issued is at least 100 percent of the maximum Projected Annual Requirements in any subsequent Fiscal Year; provided, however, that if a Hospital Con- sultant certifies (and in so certifying, states that, in the opinion of the Hospital Consultant, such assumptions are reasonable) that the Issuer cannot satisfy the 120 percent Test set forth in (i) above be- cause of any governmental or third-party reimbursement agency regu- lations hereafter adopted or promulgated, then the 120 percent Test set forth in (i) above shall no~ apply, but the 100 percent Test set forth in (ii) above shall continue to apply. "Projected Net Annual Income" means the difference resulting by (1) aggregating the projected total annual Hospital Receipts, as determined by the Auditor in accordance with generally accepted account- ing principles consistently applied, plus the Net Proceeds from use and occupancy insurance (but excluding any profit on the sale or other disposition, not in the ordinary course of business, of investments or fixed or capital assets, and also excluding proceeds from life insurance -11-