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HomeMy WebLinkAbout2146 u ARTICI~E I ' S~s N Boxns . S~cnorr 1. There shall be and is hereby created a series of boands en- tltled "First Mortgage Bonds, Series N" (I~reinafter sometimes refen+ed to as "Series N bonds" or "bonils of Series N'). Saries N bonds s6a1I be ~ fully registered bonds with~t coupons of the denomination of ~1000 and multiples thereof, T'he bonds of Series N isseied purauant ~ SecHon 9 of .this Article I shall be dated D~ecember 1, 1970. Other bonds of Series N shall be dated as of the dafie of tLeir suthentication. All series N bonds shall bear interest fmm the first day of june ar December, as tbe case may be, nezt parec~eding the date of such bond to which interest has been paid, unless the date of such bond is the date to which interest has been paid, in which c~ase fro~n the datie of , such bo~d, ot unless thc date of such bond is prior bo tbe first payment . of interest, in whicL case from December 10, 1970. Notwithstandi~ng the foregaing, wLen there is no ezisting defauh in the payuient o~ inberest a~ the Series N bands, all Seriss N bonds sutLeatic:afied by th~e Tnutee afLe~r tbe close o~ bosiness an any reoord date (l~ceby fuoed as May 15 or Novcmber 15, ss the case may be) nert prior to any interest payment - d+t~e (jume 1. ac D~ecember 1, as tLe case may be) and parZosr to sach ~ iatereat payinent date shall be dated as of and aball bear inta~st fmm such interest ~ayment date; provided, lwwever, that i# and to tLe eubm~t tLat the Company shall default in the interest due on such infie~+est pay ~?ta,~~~y~~s~~N~a~n~~e~~~j~ Ist a~ D~ecember lat as t~e caae may be, nest p~+eoeding the date of sueb Se~ries N bo~d to wLich interest has been paid, unless suc~ interest psy meat date is june 1, 197I, in wLich c~se from December 10, 1970. The petsa~n in whase name any Sesies N bond ia regtatered at tha e1o~e o~ busiaess on any rec:ord date with respect M any interest paymeat dabe shall be eatitled to reoeive the interest payabie an such intenst payment dabe notwithstanding the cancellation of sucL Seriea N bo~ci upou aay traasfa~r or ezchange subsequent to the record date and p:ior to aucb interest payment date; pmvided, however, that if and to the eitent that ~ the Company shall default in the payment of the interest due on such ~ . ' ~ ; . t ~ •~r ~ t.'l~ • ° , . ' ~ - 188 _ _ . _ _ . . . v.~+e-1~-a~=.a+4-_~~uS~::L•4~.~ . _ _ ~-_i.~~:ti::#d~ .~~..~~..~c-.eT.r~'~.-~i}~+= . _ . ~ ~ ~ ~ ~ . . . ..._.z. . ; . ~ ytu :.s~~ ...~x~,., _ -=~i:. ~ ~ati . - :~_._.""-^r^ _ ~ 1r~~9 -.s; .