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Thereafter and on or before October 31, 1993 ..........................1.~0%
Z'hereafter and on or before Oetober 31, 1994
..........................1.50%
Thereafter and on or before October 31, 1995 ..........................1.20% ~
Thereafter a~cd on or before October 31, 1996 ..........................0.90% ~
Thereafter and on ar before October 31, 1~197 ..........................0.60%
Thereafter and on or before October 31,,1998 ..........................0.30%
~~rovided, however, that, prior to November 1, 1979 the Company sLall
not be permitted to redeem any bond pnrsuant to this Section if snch
redemption is made in connection witL or is a result of any transaction -
~vhich theretofore Las been, or is then being, or is thereafter to be,
made involving, directiy or indirectly, the issuance of securities or
the incnrrence of indebtedness for borrowed money at a cost to the
Companp (calculated in accordance v~~ith accepted financial principl~s) -
of less than the annnal intereat rate borne bp the Series L bonds.
Anytlung contained in Article I% of the Indentnre to the contrary
not~~zthstanding, in case the Company shall elect to redeem Series L
bonds, it shall, at least 15 days before the date npon which the notice
of redemption herein provided for is to be g~iven, notify the Trastee
in writing of snch election and of the aggregate principal amonnt of
~ snch bonds to be redeemed, and there~'pon, if less than all of the ont-
~ ~tanding Series L bonds are to be redeemed, the particnlar bonds to
~ be redeemed in whole or in part shall be designated or selected by lot
~ by the Truetee in accordance with the following provisions : -
~ (i) if all the then ontstanding bonds are fnlly registered bonds
~ registered in the n~mes of not to ezceed 10 bolders, the ag,gregate
principal amonnt of bonds to be redeemed shall be apportioned
~ by the Trastee pro rata, as nearly as practicable, in amoants of
~ $1,000 or anp integral mnltiple thereof, among the registered
~ holders of such bonds, in the proportion that the agg?regate prin-
cipal amonnt of snch bonds held by each snch registered holder
bears to the aggregate principal amonnt of bonds tLen ontstanding;
(ii) if all the then ontstanding bonds are registered in the "
names of more tban 10 holdera or consist of conpan and registered
bonds, but any of snch bonds are fnily registered bond8 regiatered
~ in the name of any of the initial holders in whose names bonds
were first registered, the sggregate principal amount of bonda to
< be redeemed shall be aPportioned by the Trastee pro rata, as
~ nearly as practicable, in amounta of $1,000 or any mnltiple thereof,
between each such initial holder and, collectively, all of the oth~r -
then holders of outstanding bonds in the proportion that the ag- -
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