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be rodeemed prior W Juna I, 19~4, if soch rodemption ~ for tha purpo~e, or
in anticipatian, of refiinding such bond of the 1`w~nty-socond Scria through
tha us~, diroctly or ihdirecdjr, of funds borro~wed by tha Campauy ai an eHeo-
tiva interest.cvst to tha CanPwY (cakulatod in aoooc+danoe a?ith aaxptabk
financial practices) of ksa than 7.95~t9b por annum.
(II) Bonds of the Twenty-sevond Scries shall also be redcemable in
whole at anq time, or in pait f~ time to time, ~ priar to maturity, opon ~
notioe, by th~e application'(either at the option of the Company or pursuant
to the requirements of tha Mortgage) of cash delivered to or deposited with
the Corporate Trustoe pursuant w the provisions of Section 39 or Section 64
o~ the Mortgage or with Prooecds of Released Property. at the follaavinig
special redemption prias, e,apressed in percentages of tho principai amount
o~ the bonds tio be redeemed: .
Srac~~L Ran$~rrrox P~[cBa
If radeenned during 12 manths period ending May 31,
1970...... 101.1596 1980...... 101.00% l990...... l00.69%
1971...... 101.149b 1981...... 100.98% 1991...... 100.6496
1972...... 101.1396 1982...... lOQ.96gb 1992...... 100.5996
1973_..... 101.11 R6 1983...... 100.939b 1993...... 100.5396
1974...... 101.109'0 1984...... 100.9096 1994...... 100.489b
1975...... 101.09Rb 1985...... 100.879b 1995...... 100.4196
1976...... 102.074b 1986...... 100.8496 1996...... 100.3496
1977...... 141.069b l987...... 100.8196 1997...... 100.2796
2978...... 101.0496 1988...... l00.7796 1998...... 100.199b
1979...... 101.0296 1989...... 100.7396 1999...... 100.0096
in each case, togett~e~ with accrued interest to thc date 5x0d for redemption.
(III) At the vption o~ the ~red owner, any bonds o~ the Twenty-
second Sexies, upon surrender ther~o~ for caa~xllation, at the o~oe or a~ency _
of the Company in t6e Borough o# Manhattan, Thc City of New York,
together with a written instivmtnt ~ tranafer wherev~x nequind bq tbe
Company duty exocutai by tha regiatered owaer or by bis dnly authorizod
attorncy. ahall (subjoct to the pmvisions of Section 12 0! the Mortga~e) be
eacchangeable fot a L'lce aggngate PrinciPa2 smonnt oi bonds ~ the sam~e
~rka of oth~ authotized denon~inatioaa.
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