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= regnlstory body t~at may fmm time to time have jarisdiction in ;
' reageat thereof, snd so long ae e?ny boada oi any series iesned
i her~eander are ontatanding it Wi71 not spply any ~am to the
' ~ redemption, retirement or pnrah~ee of any sbsre ot ita eommon
~ etock nor to the peyment oi any dividead or other diabnrse~ent
t,Lereon (ezdnsive o! dividen+dg payable in itg oommon stoe~) if,
a~ter snch ~pplication ahall have been made, the aggregate oi
~ 1 anch snm and all eums so applied sinoe ~egtember 30, 1949, -
together with the aggregate of all snma ~vhiah einoe smid de~te
_ have been or concurrently are being applied to the redemption,
retirement_ or pnrehase of ~hhares of its pretera~ed stock, or to
; tLe paym~nt of dividends thereon (exclnsive of dividenda pay-
~ able in its c:apitel gtACk), would ezcseed the Company's net xncome
since gaid date (treated as one ~ecaunting periai) ; provided,
however, that there ahall be ezeluded in making the oal~salstions
a4oresaid ao much nf the aggregaLe of ezpenditnres, inalnding .
the reasonable valne of prnperty or seeuritiee, made by the Com-
pany for the redsmption or pnmhase of ita cspital etoclc as daee
not exceed the aggregate oi all amonnta, including the reasonable ~
vslne ai property or seauritiea, reoeived by i~ throngh the •
disposaY eince September 30, 1949 of additional capital stock.
Net income aball be compnted in accor~l~?nce with good asoount-
~ ing practice and in accordance with the lawe oi the 8tate o! .
Florida. ~ In compnting net income, cspital gaine and eapital .
Iosees as thoae terma are need in the Internal Revenne Code at
the ti~me applicable sball be disregarded or eliminated se ~ha~l
. any income taaes pQid or payable on any capital gaina." .
A$'1'IGLE ffi.
~ AnDrrioxsi. Paov~sYO~a.
~soriox 11. The Origi.nal Indenture aa heretoiore enpplemented
and ~aiifled i~ in all respeat~ rati~ied and con~rmed by thig TwelftL
~ Bnpplemental Iadentnre, and a11 the provisions herein oont~e?ined. eLa~
; b~e deemed part oi the Original Iadentnre in t~?e mwuner and to the -
. ~ . eztent herein p~rovided.
~ B~cn~oa 12. VVherever referenee is herei.n in this'1`welith Bnpple- : .
• mental Indentare made ta a Seetion or Article of tbe Original Indea- -
tnre and auch 8ection or ~rticle hae been amended by any one or
more eupplemental indentures, then snch reierence ahall be ta .~h
Section or Artiale ae so amended.
? { . ,
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. g~115 . .72 .
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