HomeMy WebLinkAbout0224- `.
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charged and properly chargeable to property accounts of the
Company; and ~
(B) the Company may, after the Initial Completion Date,
pay interest on the dotes accruing during the period ending
February 1, 1961; and
- (C) the Company may Pay interest on tho Notes accruing
subsequent to February 1, 19nQland iamount of Subordinate i
the $3,500,000 aggregate p Pa
Indebtedness incucr~r h ~rrowi gs from gonaton Corporat~o -
and representing
equal to the principal amount of such Subordinated Indebted-
ness, if the total of
(i) the aggregate amount (of itetua (i), (ii), (iii) and
excluding _
(iv)) referred to above in this subdivision (b),
therefrom any portion thereof incursnant to(nlause (D)
clause (C) or any payment made p
below, and ent and all prior pay-
(ii) the aggregate of such paym
menu made pursuant to this clause (C)
shall not ezceed the algebraic sum of Available for
(iii) the Net Earnings of the Company
Interest, after deanctions ahd additions made as provided
above in this subdivision (b), and
subject to the proviso in clause (D) below with the sam~ of e~
as though such proviso were s~~th~e (nth ~ O) ~ ~
principal payments made p of say computation made
ezclnded, ezcept for the purposes
pnrsaaat to the proviso which includes these clauses (A)
through (E), ~ computing the e-88'z'o8'at8 amo~t [of items
(i), (h), (~) and (iv)] referred to above in this subdivision
(b))' ana rinci on the Notes and,
(D) the Company may PaY P ~
suer the payment of the Notes in full, on any or all other Sub-
ordinated Indebtedness (except the $3,500,000 aggregate prin-
cipal amount of Subordinated Indebtedness refeent a d ail
Manse (C) above), if the aggre8~-te of snap paym
ments made pursuant to this clause (D) shall not
prior pay
ezceed ~3,~,~, ana ii the total of
(i) the aggregate amount (of items (i), (ii), (iii)
and (iv)) referred to above in ".his subdivision (b), eaclud-
_ tt Lt~° k. ~.
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