Cleveland Clinic Health System Obligated Group - FMSbonds.com

provided, however, that Series 2008A Bonds with respect to which provision for payment is made inaccordance with the provisions of the Bond Indenture summarized under the caption “SUMMARY OF BASICDOCUMENTS – THE BOND INDENTURE – DEFEASANCE” in this Appendix C shall be deemed to be outstandingfor the purposes of applying the interest rate setting provisions thereof and the transfer, registration and paymentprovisions of the Bond Indenture.“Paying Agent” means the bank or banks, if any, designated pursuant to the Bond Indenture to receive anddisburse payments of principal of and interest on the Series 2008A Bonds.Person:“Permitted Encumbrances” means, for purposes of the Master Indenture, with respect to any specified(a) any lien securing all Master Notes created by the Master Indenture or any lien created inaccordance with the provisions of the Master Indenture summarized under paragraph (g) under the caption“SUMMARY OF BASIC DOCUMENTS — THE MASTER TRUST INDENTURE — NEGATIVE LIENCOVENANT” in this Appendix C;(b) liens arising by reason of good faith deposits by or with such Person in connection withtenders, leases of real estate, bids or contracts (other than contracts for the payment of money), deposits byany such Person to secure public or statutory obligations, or to secure, or in lieu of, surety, stay or appealbonds and deposits as security for the payment of taxes or assessments or other similar charges;(c) any lien arising by reason of deposits with, or the giving of any form of security to, anygovernmental agency or any body created or approved by law or governmental regulation for any purposeat any time as required by law or governmental regulation (i) as a condition to the transaction of anybusiness or the exercise of any privilege or license in the ordinary course, or (ii) to enable such Person tomaintain self-insurance or to participate in any funds established to cover any insurance risks or inconnection with workers’ compensation, unemployment insurance, pensions or other social security, or toshare in the privileges or benefits required for companies participating in such arrangements;(d) liens created by or existing from any litigation or judicial or administrative proceedingwhich is then being contested in good faith by appropriate proceedings;(e) such defects, irregularities, patent reservations, utility easements, access and othereasements and rights-of-way, rights of possession or use, party walls, rights of lateral support, restrictions,licenses, exceptions, clouds on title or other encumbrance on Property as do not materially impair the valueof such Property or the use of such Property in the operation of the business of such Person and withrespect to which the Person which owns the encumbered Property has delivered an Officer’s Certificate tothe Master Trustee evidencing that the Governing Body of such Person has determined that suchencumbrance will not so impair such value or use;(f) encumbrances arising from grants or loans from, or guarantees of Indebtedness by,federal, state and local governments or agencies thereof;(g) liens for taxes, assessments or other governmental charges or levies to the extent notrequired to be paid pursuant to the provisions of the Master Indenture;(h)liens resulting from governmental regulations on the use of Property;(i) any lease, assignment of lease, sublease, guaranty, sale or similar agreement of which theMaster Trustee is the beneficiary for all Master Noteholders and entered into in connection with theissuance of and providing for or securing the payment of Related Bonds;(j) the Lease and leases made or existing on Property acquired in the ordinary course ofbusiness, any lease, assignment of lease, sublease, lien, charge or encumbrance permitted by the provisionsC-17