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Notwithstanding any otfier provisions of this Suteeath Supplemental
Indenture or of the Mortgage, (i) t~ Company shall be permitYed from
time to time to anti~ipate in whole ar in part the requirements of this Section
becoming due og Uxember 1 at tbe then current year or auy subsequent
year or years by depc~siting cash aad/or a principal amaunt of bonds of the
Seventeenth Series with the Corporate Trustee in full satisfaction or in parti~l
satisf actian of the ra~uirements of this Section, and ( ii ) any cash so
deposited, whether in full s~tisfaction ar in parrial satisfaction of the reqwir~
ments of this Section and whether becoming due on December 1 of the then
curnat year ~ of a subsequGnt year, may be from time to time withdrawn,
us~d or applied in the manaer, to the extent, for the purposes and subject to
the conditions pmvided in Section 31 of the Mortgage or in subdivisions ( 3)
and/oar (4) of Section 61 of the Mortgage; provided, however, that the
retirement of nn bon~ls a# any series other than the Seventeenth Series shall
be made the basis of the withdrawal of cash deposited euider this Section and
provided further that no bonds af any series othez t,hau the Seventeenth Series
shall be purchased or redeemed with cash deposited under the provisions
of this Section and that no bonds of the Seventeenth Series shall be purchased
with cash depc~sited under this Section at such price (including acerued
interest and brokerage) that the cost thereof to the Company is in eACess
of the cost of redeem~ing such bonds on a date forty (40) days after the date
of such purchase (including premium, if any, and accrued interest from the
interest date neat preceding the date of purchase to such redemption date
in such cost) ; and pmvided further that the Company may not deposit cash
prior ta D~ecemb~ess 1, 1970 in a~dcipation of the requirements of this S~ection,
i£ the cash would be useti for the redemption of bonds of the Seventeenth
aeries, and if such redemption would be for the purpose, or in anticipation, of
refunding such bonds o€ the Seventcenth 5eries prior to December 1, 1970
through the use, directty or indirectly, of funds borrowed by the Company at
an effective interest cost to the Co~mpany (calculated in accordance with
acceptable financial practices) of less than 4.88% ger annwn.
In case credit under tl~e provisions of Yhis Section is applied for in wbole
or in part upon the b~si~ of the right tn the authentication and delivery of
eoo~ , 5~4~