Cleveland Clinic Health System Obligated Group - FMSbonds.com

Cleveland Clinic Health SystemNotes to Consolidating Financial StatementsYears Ended December 31, 2007 and 20061. PresentationThe accompanying financial statement information presents certain data for the Obligated Group(as defined herein) and certain controlled affiliates of The Cleveland Clinic Foundation(collectively referred to as the Non-Obligated Group), which have no liability under the MasterTrust Indenture (Indenture), dated June 1, 1987 and amended and restated April 1, 2003, assupplemented, between the Foundation and The Huntington National Bank, as successor MasterTrustee. The Foundation, Meridia Health System, Fairview Hospital, Lutheran Hospital,Marymount Hospital, Inc., Cleveland Clinic Florida and Cleveland Clinic Florida Health System(formerly known as Cleveland Clinic Florida Hospital Naples), which withdrew from theObligated Group effective May 1, 2006, excluding certain organizations with which they areaffiliated, either by membership, equity interest or contract were the sole members of theObligated Group under that Indenture.The following real property (Excluded Property) is not integral to the Obligated Group’soperational activities and is not subject to the Master Trust Indenture and, therefore, is exceptedfrom covenants otherwise applicable to property of the Obligated Group: the former TRW worldheadquarters building and the former Parker Hannifin world headquarters building, theFoundation House, and various other properties located in the Cleveland area outside theFoundation’s main campus that are either undeveloped or have structures on them that theFoundation expects to raze or that otherwise meet the Master Trust Indenture requirements forexclusion. The accompanying financial statement information is presented by legal entity and noadjustment has been made for these Excluded Properties.Certain 2006 amounts have been reclassified to conform with the current year presentation.47