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hereof of the bene8t of a lien on the mortgaged property, affeat the
ainking fnnd prnvieiona with respeat to Bonds of the 1986 i~eries,
permit the isanance of additional Bonde on the basis of Property
Additions (as de8ned in the Indentnre) in a prinaipsl amonnt
eqnal to a greater percentage of Net Bondable Valne of Property
~dditiona (aa defined in the Indentnre) than the mazimum per-
oentage thereof egpresaed in the Indentnre sa originally ezeauted,
or rednce the percentage of the holders of the Bonds reqnired for
any eaah madi8oation or alteration.
In aase an event of defanlt, as defined in the Indentnre, shall
ocanr, the prinaipal of all the Bonds at any snch time ontatanding
nnder the Indenture may be declared and become dne and payable,
npon the conditions, in the manner and with the effeot prnvided in
the Indentare. The Indentnre providea that snah dealaration may
in certain evente be res~inded by the holdera of not leea tban a
majority in prinaipal amonnt of the Bonds, inalnding a majority in
prinaipsl amonnt of the Bonds of the 1986 $eries, ontatanding.
'1'hie Bond is transferable by the regietered owner hereof, in
person or by dnly anthorized attorney, at tLe agenay of the Com-
pany for that pnrpose in the Bornugh of Msnbattan, The City of
New Yorlc, on books of the Company to be kept for that pnrpose
at said agenc~, upon snrrender and cancellation of this Bond and
on preaentation of a dnly ezecnted written inatrament of tranefer,
and therenpon a new registered Bond or Bonds withsnt conpons
of the same series, of the eame aggregate principal amonnt and in
anthorized denominations, will be issned to the traneferee or
tranafereea in ezchange herefor. Thia Bond, with or withont othera
of like form and series, may in like manner be ezchanged for one
or more new registered Bonds of the same series of other anthor-
ized denominations bnt of the same aggregate principal amount.
The Company, said Trusteee, any paying agent, and any regis-
trar may deem and treat the person in whose name thia Bond is
registsred 8a the absolnte owner hereof for the pnrpose of receiving
payment of or on acconnt of tbe principal hereof and intereat and
premium, if any, dne hereon, and for all other pnrposea, and neither
the Company, the Trnsteea, any paping agent nor anp regiatrar
~ ahall be a$ected by any notice to the contrary. q
Any transfer or ezchange of tbis Bond ahall be npon payment
of aharges and snbject to the terms and conditione eet forth in
the Indentare.
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