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to si~bditi~ision (d) of the definition of the term "Net Earninge
of the Company Available for Intereat and Property Retirement
Appropriationa" in the Indentnre.
The Company ~vill not make any payment otherwise permitted bp
the provisions of this ~ 3.01 if, immediately after giving effect to snch ~
payment, the Company wonld not have adeqnate working csapital. ~
For the pnrposes of this ~ 3.01, snch Net Earnings Avaiiable for
Interest shall be computed as in this § 3.01 provided for the period _
beginning Jannary 1, 1967 to the end of t,he Calendar Qaarter ending
within 90 daya prior to the decsllaration of the prnposed dividend or ~
the anthorization of the of,her proposed dietribntion or _the date of the
proposed purcbase, redemption or acqnisition, or, if snch Calendar
~ Qnarter shall have ended within 30 days prior to the date of snch
proposed action, then to the end of the neat preceding Calendar
Quarter (the end of the applicable Calendar Qnarter being deemed the
date of compntation). For the pnrposes of ~this ~ 3.01, in compnting I~Tet
~:arnings of the Company Available for Irrterest and earned ~nrplns
for the period beginning Jsnnary 1, 1967 ta the date of any compnta-
~ tion nnder this ~ 3.01, and in oomputing, prior ho Jannary 1,1970, Total
Capitalization of the Company, -
(a) if, as a resn~t of a reversal of any part of the decision
of the United States Conrt of Appeals for the Fifth Oircnit in
Florida Gas Tra~.smissio~~ Conapany v. FPC, 362 F2d 331,
decided Jnne 13,1966,
(i) the Company's prac~ice of aoerning nnpaid Federal
income taxes that wonld have been paid bnt for the flling of a
consolidated retnrn with Florida GFas Qompany and its consoli-
dated ~snbsidiaries shall be disallowed, tlien ~the entire amonnt
of any reversal of accruais, pnrsuant tb order of ~the Federal
Power Commission, for such Federal income tazes (net of all
refnnds ~bo customera attributable to snch reversal of aoeraals
after making appropriate adjustment for the effect on snch ~
refnnds of related Federal and State inoame tages) shall be,
to the egtent of its inclndibility in ~Tet Earnings Available for
~ BOOK~6~ PAGfz673 . . , .
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