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_ person or by duly anthorized attorney, at the agency of the -
_ Company for that purpose in ~he Borongh of ~ianbattan, The
City of New York, on boo~a of the Company to be kept for that
pnrpose at said agency, npon snrrender and cancellation of this .
Bond and on presentation of a duly eaecnted written inatrnment
of transfer, and there~on a new Bond or Bonsie of the 1987
Series, of the same aggregate principal amonnt and in
anthorized denominations, will be issned to the transferee or
transfereea in ezcbange Lerefor. This Bond, ~vith or withont ~
other Bonds of the 193? Series, may iu like manner be eYChanged -
. for one or more new Bonds of tLe 198? Series of other
anthorized denominations bnt of the same aggn egate prinaipal
amoun~ The Bonds of the 1987 Series are issnable only as -
reg?istered Bonds witho~ conpons in denominations of $1,000
and any integral mnitiple thereof.
AIIy transfer or eachange of this Bond shall be made with-
ont payment (other than any~t~ or other governmental charge) -
and shall be subject to the terms and conditions set forth in the
Indentnre.
The Company, said Trustees, any paying agent, and any
registrar may deem and treat the person in whose name this ~
Bond is registered as tLe absolnte owner hereof for the pnrpose
of receiving payment of or on acconnt of the principal hereof
and interest (ezcept as stated in the first paragraph hereof) and
premium, if any, dne hereon, and for all other pnrposes, t?nd
neither the Company, the Trnstees, anp paping agent nor any
registrar shall be affected by any notice to the contrary.
~To reconrse shall be had for the payment of the princupal of,
or the interest (or premi~in, if any) on, this Bond, or for anp
claim based hereon or on the Indentare or any indentnre anpple-
mental thereto, against any incorporator, or against any atoc~- ~
holder, direetor or off'icer, past, present or fntnre, of the Com-
pany, or of any predecessor or snccessor corporation, as anch,
either directly or tLrongh the Company or any such predecesaor
or snecessor corporation, whether by virtae of any conatitntion,
statute or rnle of law, or by the enforcement of any assessment
or penalty or otherwiae, all snch liability, whether at common
law, in equity, by any constitntion, statate or otherwise, of incor-
porators, stockholdera, directors or officers being released by .
every owner hereof by the acceptance of this Bond and as part
of the consideration for the issne hereof and being likewise
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