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ban~s, the Company shall comply with all applicable prawisions of the Mart-
gage nla.ting to such authentication sad delivery; eacept that the Compazry
~ha1~1 not be required to comply with any earning nqwirements or deliver to
the Corparate Trustee any Resolution, Officers' Certificate, Net Earning
Certificate or Opininn of Counsel such as is described in subdivisions (1),
( 2), ~ 6) and ( 8) of Section 2$ of the Mortgage.
So long as any bonds of the Seventeenth Series shall remain Outstand'ing,
any election by the Company pursuant to clause ( f) of subdivision ( A) of this
Section to make its right to the authentication and delivery af any bond(s)
or fraction of a bond the basis of a credit under this Secticrn shall operate as
a waiver by the Company of its right ta the authenticadon and delivery of
such bond(sl or fraction of a bond, and such bond(s) or fraction of a bond
may aot thereafter be authcnticated and deliver~d under the Mortgage, and
any Property Additions which have been made the basis of any such right
to the authentication and delivery of bond(s) or fracdon of a bond so waived
shall have the status of Funded Property and shall be deemed to have t~n
made the basis of a credit under this Section.
For all purposes of the Mortgage (including all calculations ther~under),
so long as any bonds of the Seventeenth Series remain Outstanding, as defined
ia Secti~a 2 of the Mortgage:
(I) any cash deposited under the provisions of this Section ar
Section 40 of the Mortgage or Section 2 of the First tbrough Fifteenth
Supplemental Indentures shall be deem~d Lo be Funded Cash;
(II) any bonds of the First Series delivered to the Corporate
Trustee pursuant to the provisions of 5ection 40 af the Martgage and
any bonds of the Second throtagh Sixteenth Series defivered to the
Corporate Trustet pursuant to the provisians of Section 2 of the First
. through Fifteenth S~pplemental ~ndentures and any bonds of the
Seventeenth Series delivered to the Corporate Trustee pursuant to the
provisions of this Section shall, after such delivery, be de~med to have
bee~ retired by use of Funded Cash; and
{ III ) with respe~t to a21 credit~ taken tx~der this Section or
Section 40 of the Niortgage or Section 2 of the First through F'ifteenth
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