HomeMy WebLinkAbout00910. R:
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ST. LUCif COl!MT1. flA.
Sec. 7.4
(6) That Competent Governmental Authority has authorized The
Company to abandon such Property, or that ownership, possession or
operation of such Property to be released has been divested by a final
judgment or decree of a court of competent jurisdiction in an action or
proceedings to which the Trustee was a party, if such be the case;
accompanied, in each such case, by an Opinion of counsel for The Company
that The Company is legally authorized to take the action proposed to be
taken,
DisMsldN Sec. ?.6 Except and to the extent that some other disposition thereof
of Pnaeds is required by an instrument securing a Prior Obligation, the cash com-
pensation or other proceeds of any and all sales, or other disposition of
Property of The Company, shall be deposited with the Trustee. If at any
time within five years after any such deposit, The Company delivers to
the Trustee its Certificate that it has acquired, free and clear of all Prior
Liens, Additions or Betterments described in said Certificate, at a cost
not greater than the fair market value thereof, which Certificate is ac-
companied by the Certificate of The Company's chief engineer and/or
chief accounting officer as *_^ *_hs flc±,~w~ set cos± of such Additions and
Betterments, the Trustee shall repay to The Company out of the Deposited
Moneys the net cost of said Additions and Betterments.
Prrelasu Sec. 7.6 In no event shall any purchaser of any Property disposed of
under any provision of this Article be required to see to the application
of the purchase price.
AliMatb~; Sec. 7.7 The Company may, subject to the lien hereof, sell, assign,
SreussNs convey, transfer or lease any or all of the Dortgaged Properties, or may
Combine with any Corporation, or may re-incorporate or re-organize, but
any purchaser, assignee, grantee, transferee, or lessee (including any
Successor Corporation) of all or the greater part of the Mortgaged
Properties shall be conclusively presumed as a condition thereof, to have
assumed all of the obligations of The Company under this Indenture, and
All g~ip~lPmPnta hereto; and shall succeed to ail right, title, power and
interest of The Company hereunder and shall be deemed to be substituted
fnr Thg f`rmpany with tl,P same effect a.4 if it had been ori¢inally nAmed
herein as the party of the first part, all of which upon demand of the Trus-
tee shall be expressly incorporated in a Supplemental Indenture executed
by any Successor of The Company.
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