Laserfiche WebLink
13068487v2 <br /> <br /> <br /> 5 <br /> <br />“Operating Revenues” means, in any fiscal year, total operating revenue of the Corporation <br />(less contractual allowances and free care), as determined by generally accepted accounting <br />principles and the Corporation’s audited financial statements, but excluding extraordinary or non- <br />recurring items (such as any gain resulting from the sale of assets not made in the ordinary course <br />of business). <br />“Opinion of Counsel” means a written opinion of counsel (who need not be Independent <br />Counsel unless so specified) appointed by the Corporation or Issuer. If and to the extent required <br />by the provisions of Section 1.02 hereof, each Opinion of Counsel shall include the statements <br />provided for in said Section 1.02. <br />“Optional Redemption Fund” means the Optional Redemption Fund established under <br />Section 5.02 of the Indenture. <br />“Original Purchaser” means Northland Securities, Inc. <br />“Outstanding” when used as of any particular time with reference to Bonds means (subject <br />to the provisions of Section 9.03 of the Indenture pertaining to Bonds held by the Issuer and the <br />Corporation) all Bonds theretofore authenticated and delivered by the Trustee under the Indenture <br />except: (i) Bonds theretofore cancelled by the Trustee or surrendered to the Trustee for <br />cancellation; (ii) Bonds for the payment or redemption of which funds or direct obligations of or <br />obligations fully guaranteed by the United States of America in the necessary amount shall have <br />theretofore been deposited with the Trustee (whether upon or prior to the maturity or the <br />redemption date of such Bonds), provided that if such Bonds are to be redeemed prior to the <br />maturity thereof, notice of such redemption shall have been given pursuant to Article III of the <br />Indenture, or provision satisfactory to the Trustee shall have been made for the giving of such <br />notice; and (iii) Bonds in lieu of or in substitution for which other Bonds shall have been <br />authenticated and delivered by the Trustee pursuant to the terms of Section 2.07 of the Indenture <br />pertaining to replacement of Bonds. <br />“Permitted Encumbrances” means, as of any particular time, (i) liens for ad valorem taxes <br />and special assessments not then delinquent, (ii) utility, access and other easements and rights-of- <br />way, mineral rights, restrictions and exceptions that an Independent Engineer certifies will not <br />interfere with or impair the use of or operations being conducted in the Project Buildings, such <br />minor defects, irregularities, encumbrances, easements, rights-of-way and clouds on title as <br />normally exist with respect to properties similar in character to the Project Facilities and as do not <br />in the aggregate, in the opinion of Independent Counsel, materially impair the property affected <br />thereby for the purposes for which it was acquired or is held by the Corporation, (iv) the Mortgage, <br />any mortgage lien subordinate to the lien of the Mortgage to be granted by the Corporation after <br />the date of issuance of the Bonds in connection with any indebtedness for borrowed money, <br />provided, however, that the terms of any such indebtedness shall require notice of any default <br />thereunder to be provided to the Trustee and shall provide the Trustee with an opportunity to cure <br />any such default, and (vi) those additional encumbrances identified in Exhibit B to the Mortgage. <br />“Project” means the Project described in Section 1.03 hereof.