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redemption of snch bonds not held by any initial holder of bonds
shall be rednced to the egtent of the amount of sach aredit.
If the Company elects to surrender bonds as a credit againet the
sinking fnnd gayment pnrsnant to the foregoing provisiona it shall
deposit snch bonda, ~ with all unmatured interest oonpons pertaining
thereto in the case of conpon bonds, with the Trnstee at least 35 days
and not more than 45 daps prior to thQ date on which the neat Binking
fund payment becomes dne. If the sinking fnnd payment is satisfied
entirely by the surrender of bonds pnrsnant tc? clanse (i) of this 8ec-
tion 5, compliance with Section 2 hereof shall be unnecessarp.
SECTION 6. In the event of the payment of a portion of the prin- -
cipal amonnt of any fullp registered bond registered in the name of
any initial pnrchaser in whose name bonds were first registered, or
registered in the name of any snbseqnent Lolder designated in writing _
by the Company filed with the Trastee and stating that the provisions
of this paragraph ahall be applieable thereto, if there shall be filed
with the Trnst~ee a certificate of the Treasnrer of the Company atatiag -
that the registered holder of such bond (or the person for whom sneh
registered holder is a nominee) and the Company have entered into
a written agreement that payment of any portion of snch bond may .
be made to the regist~red holder thereof withont presentation or snr-
render thereof, that anch registered holder will promptly make nota- -
tion of anp snch payment on snch bond, and that such registsred holder
shall not sell, transfer or otherwise dispose of snch bond nnles$ prior
to delivery thereof anch bond shall have been presented to the Trnstee
for appropriate notation thereon of tha portion of the principal amoant
thereof ~vhich has been paid or snch bond ahall have been snrrendered
in ezchange for a new bond or bonds of the same serie;, and matnritp,
for the unpaid balance of the principal amonnt thereof, then, in that
event, the Trnstee, in lien af reqniring the presentation or snrrender
of such bond for notation by the Trastee of snch payment thereon,
~ shall transmit snch payment to snch bondholder and instrnct snch
~ bondholder to endorse such payment on snch bond.
SECriox 7. Fnllp regi.stered bonds withont coupons of $eries L
upon surrender thereof at the office or agency of the Company in the
City of Chicago, Illinois, map be e~changed for the same aggregate _
principal amount of fnll~ registered bonds withont conpons of that
series andjor for coupon bonds of that series; conpon bonds so re-
ceived in egchange to have caupans attached representing interest
from tl~e date to v?hich iiiterest shall liave been paid on the surrendered
bonds.
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