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ARTICLE 3 ~
CovsxexTS oF Tss Co~sxy
~ 3.01, dgai+~st payrKent of divide~ds or certai+t other distribw-
t~ioMS, euept ~c~der ce~tai~ co~detio~.s. So long as any BondB of the
1991 Series are Ontstanding, the Company ~ill not declare any divi-
denda on any of its capital stock unless auch dividends are declared
~ to be payable not more than 90 days after tbe date of declaration, and
will not deciare or pap any dividend or ma~e any otLer distribntion
(whether by purc~ase, redemption or otLerwise) on, or pnrchaae or
redeem or otherwise acquire for a consideration, any capital Stoa~ of
tLe Company (ezeinding fmm aneh restriction and from all calc:nla
tions under this ~ 3.01 dividends paid in any snch capital stoc~ and
anr snch capital atock pnrchased, redPemed or otherwise aoqnired to
the eatent tLat it was so acqnired in eachange for, or from the cash pro- '
ceeds of the snbstantially cnncnrrent sale of, other sneh capital atock ~
or ont of snbstantially conenrrent cash contribntions to the capital of '
the Companp) if, after giving effect to snch dividend, distribnfion,
pnrchase, redemption or aoqnisition,
(a) the ontstanding Fnnded Debt (inclnding for thia pnr-
pose Bonds whieh are not Ontstanding solely by reason of the ~
provisions of clause (d) of the definition of tlie term ~~Ontstand-
ing") wonld ezceed 75% of the Total Capitalization of tbe Com-
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' pany;or ~
; (b) from December 3I, 1968, the aggregate of
~
~ (i) all dividends and distributions declared or paid on
E any capital stock of the Company, plns
~
; (u) the eacess, if any, of the aggregate amonnt of all
~ payments for the pnrchase, redemption or acqnisition of any
capital stoch of the Company over the aggregate amonnt of
the net c~sh pror,eeda to the Company from salea of capital -
; etock of the Company,
wonld euoeed the algebraic snm of (a) $10,000,000 plna (y) Net
Earnings of the Company Available for Interest since Decem- .
ber 31, 1968, after dedncting from such Net Earnings tLe pro- _
vision for taaeB based on or measnred by income or profif,s,
after dedne.ting the~refrom interest paid or ac~crned by the Com-
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