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ST: lUClE COUNTY, FLA. ARTICLE oxE
DEFIHITIONS OF WORDS AND PHRASES
Whenever used in this Indenture, and in the Bonds secured hereby,
unless the context requires otherwise, the words and phrases defined in
this Article, where the initial letter of the word or of each word of the
phrase is capitalised, shall be deemed and construed to have the meanings
herein set forth:
Sec. 1.1 All words used in the singular or plural number include both
the plural and the singular number. A :+ord of n~ gender includes all
genders.
Sec. 1.2 "Accounting Rnlee" means the Uniform System of Accounts
applicable to the accounts of The Company, promulgated by the Interstate
Commerce Commission in effect at trz time in question, or the statutes,
orders, rules or regulations of Competent Governmental Authority appli-
cable to The Company's accounts, or, in the absence thereof, sound princi-
ples of accounting.
Sec. 1.3 "Account" means a general or primary account prescribed by
Accounting Rules.
Sec. 1.4 "Acquire" or "Acquisition" means to obtain any Property
by any means whatsoever.
Sec. l.b "AddItion" or "Betterment" means any Acquisition of Prop-
erty subsequent to date hereof by The Company, the net cost of which is
includable in its Capital Accounts.
Sec. 1.6 "Available Net Income" means the net income of The Com-
pany for each Semi-annual Accounting Period, determined on the July 31
or January 31 immediately following the close of such Period, as follows
(1) By first determining the income of The Company available for
fixed charges, as the Accounts are stated on the books of The Company
when closed for such Period, without adjustments, except that-
(a) Any adjustments necessary to correct the income Accounts
of any prior Period shall be made by appropriate entries, either in the
Accounts of the current Period, or, in the discretion of the Board of
Directors and subject to the approval of Competent Governmental
Authority, in whole or in part, in the Accounts of any subsequent Per-
iod or Periods, and any such adjustments made in the Accounts of
any Period to adjust entries in the income Accounts of prior Periods
shall be treated as income items for the Period in which entered on
the hooka, whether cleared through income or profit and loss A:~-
counts; and
(b) No amount shall be deducted for retirement of non-depreci-
sble Property ;
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