32-89 Hospital Improvement Revenue Bonds $36 mil

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"Historical Earnings Test" means,, with respec~ to the Operator, that: (i) one-half of the aggregate Net Annual Income for the two most recent complete Fiscal Years of the Operator, for which audited financial statements are available prior to the issuance of additional Hospital Debt proposed to be issued is at least 120 percent of one-half of the aggregate Annual Requirements for said two Fiscal Years; and (ii) the Net Annual Income for each of the two most recent complete Fiscal Years for which audited financial sta:ements are available prior to the issuance of the additional Hospital Debt proposed to be issued is at least 100 percent of the respective Annual Requirements for each such Fiscal Year; provided, however, that if a Hospital Consultant certifies (and so certifying, states the assumptions upon which such certificate is based and further states that, in the opinion of the Hospital Consul- tant, such assumptions are reasonable) that the Operator did not satisfy the 120 percent Test set forth in (i) above because of any governmental or third-party reimbursement agency regulations hereafter adopted or promulgated, then the 120 percent Test set forth in (i) above shall not apply, but the 100 percent Test set forth in (ii) above shall continue to apply. "Holder" or "Holder of Bonds" or "Bondholder'' means any person in whose name any Bond of any Series of Bonds is registered pursuant to the Indenture. "Hospital Debt" means, with respec: to the Issuer, "Hospital Debt" as defined in the Original Indenture and, with respect to the Lessee, "Indebtedness" as ~efined in the Lease. "Hospital Facilities" means Hospital Facilities as defined in Section 140.01, Ohio Revised Code, and where the context indicates, Hospital Facilities means the Leased Premises. "Indenture" means the Original Indenture, including the Bond Legislation as part thereof, as the same is duly amended and supplement- ed by the First Supplemental Indenture, including the First Supplemental Bond Legislation as part thereof, and as may further be duly amended, modified or supplemented in accordance with the provisions thereof. "Interim Hospital Debt" means Hospital Debt incurred or assumed in anticipation of being refinanced or refunded within one to seven years after its issuance. "Lease" means the Lease dated as of June 26, 1987, between the Issuer and the Lessee by which the Issuer leases the Leased Premises (being generally the Hospital Facilities constituting Lakewood Hospital) to the Lessee, as the same may be duly amended or supplemented from time to time in accordance with the Original Indenture. Lease. "Leased Premises" means the Leased Premises as defined in the "Legal Officer" means the legal officer of the Operator. -6-