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"Long-Term Hospital Debt" means 'all Hospital Debt, other than <br />Short-Term Hospital Debt, included in the following: <br /> <br /> (i) ~ospital Debt with respect to money borrowed for an <br />original term, or renewable at the option of the borrower for <br />a period from the date originally incurred, longer than one <br />year; <br /> <br /> (ii) Hospital Debt with respect to leases which are <br />capitalized in accordance with generally accepted accounting <br />principles having an original term, or renewable at the option <br />of the lessee for a period from the date originally incurred, <br />longer than one year; and <br /> <br /> (iii) Hospital Debt with respect to installment purchase <br />contracts having an original term in excess of one year. <br /> <br /> "Net Annual Income" means, with respect to the Issuer, the <br />difference resulting by (1) aggregating the total annual Hospital <br />Receipts, as determined by the Auditor in accordance with generally <br />accepted accounting principles consistently applied, plus the Net <br />Proceeds from use and occupancy insurance (but excluding any profit on <br />the sale or other disposition, not in the ordinary course of business, <br />of investments or fixed or capital assets, and also excluding proceeds <br />from life insurance policies, any grants, gifts, bequests, contributions <br />and other donations to the extent specifically restricted by the donor <br />or the grantor to a special object or purpose which precludes the use <br />thereof for paying Hospital Debt or operating, maintenance and repair <br />expenses of the Hospital Facilities, and proceeds of any borrowing), <br />during any applicable complete Fiscal Year for which audited financial <br />statements are available, based on the audited financial statements for <br />such Fiscal Year prepared by the Auditor, and (2) subtracting from such <br />amount the total aggregate current operating expenses of the Issuer for <br />the Hospital Facilities, as determined by the Auditor in accordance with <br />generally accepted accounting principles consistently applied, during <br />such Fiscal Year, excluding from any such current operating expenses: <br />(a) any allowance for depreciation and amortization, (b) interest pay- <br />ments on any Hospital Debt, and (c) losses on the sale or disposition, <br />not in the ordinary course of business, of investments or fixed or <br />capital assets. With respect to the Lessee, "Net Annual Income" shall <br />have the meaning set forth in the foregoing sentence, except that the <br />term "Gross Revenues", as defined in the Lease, shall be substituted for <br />"Hospital Receipts" and the term "chief financial officer of the Lessee" <br />shall be substituted for "Auditor". <br /> <br /> "Non-Recourse Hospital Debt" means any Hospital Debt secured <br />by a lien on Property other than Restricted Property, which Hospital <br />Debt is not a general obligation of the Operator, and the liability for <br />which Hospital Debt is effectively limited to the Property subject to <br />such lien. <br /> <br />"Notice Address" means, <br /> <br />-7- <br /> <br /> <br />