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~° <br />,a~ <br />~~~~ ~~. , <br />= ~ ~U_ ~ ~~~ mf - <br />~~, <br /> <br />~.__ <br />- <br />2.1.6 At Hospital's request, CCF will work with the Hospital to establish joint In Compliance, <br /> operation of specialty services, which will be consistent. with strategic <br /> plan and budget established by CCF <br />2.1.7 At Hospital's request, CCF and the Hospital will work together to In Compliance <br /> establish medical educational programs with the Hospital as a residency <br /> rotation site <br />2.1.8 At Hospital's request, GCF and Hospital will jointly establish programs to In Compliance. <br /> improve administrative efficiency and cost reduction and. other <br /> clinical/administrative services <br />2.2 insurance -- Hospital will comply with indentures' requirements regarding in Compliance <br /> maintenance of insurance <br /> $OND COVENANT <br /> <br />1. Rate Covenant -Hospital will operate: As of December 31, 2008, the Hospital had not been in <br /> compliance with the debt service coverage requirement. <br /> <br />Net Income + Depreciation + Interest The corrective action required by the trust indenture <br /> <br />Interest + Principal Payments > 1 <br />2 obligates the Hospital to employ a consultant to make <br />' <br /> . recommendations regarding this matter. Management has <br /> engaged a consultant and is reviewing the consultant's <br /> ! recommendations. <br /> 2. Additional Hospital Debt <br /> (a) Long-term debt <br /> Hospital may incur debt if rate covenant test is met and will be <br /> met in the Future N/A <br /> (b) Short-term Hospital Debt <br /> Refinancing indenture permits debt in an amount up to 15% of <br /> operating revenues for working capital needs. The amount is' <br /> required to be reduced to 5.% of #t wing revenues for at least 20 <br />Page 11 <br />