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HomeMy WebLinkAbout1867 . _ _ , _ . , , : _ , : . _ , . _ : 28 panp to the eatent that sucL interest is not charged and properly chargeable to property acconnts of the Companp, and after de- dncting therefrom the net earnings or adding thereto the net losses of any Aoqnired System for any period prior to its aa- ~ quisition by the Company to the eat~ent that snch net earnings or aet losses tironld have been inclnded in the oompntation of Net Earnings of the Companp gvailable for Interest pnrsuant to sub- divisia~x (d) of the definition of the term "Net Earnings of the Company Available for Interest and Property E,etirement Appro- priat~ons" in the Tndentnre. - The Company will not make any payment otherv~ise permitted by the provisions of tLis § 3.oY if, im.mediately after gi~ing effecst to sncL pay- ment, the Company v~ould not have adeqnate working capital. For the pnrposes of this ~ 3.01, snch Net Earninga Available for Interest shall be compnted as in this ~ 3.01 provided for the period beginning January 1, 2969 to the end of the Calendar Qnarter ending R ithin 90 days prior to the declaration of the prnposed dividend or the anthorization of the other prnposed distribution or the date of the proposed pnrchase, redemption or acqnisition, or, if snah Calendar Quarter shall hs~e ended within 30 days prior to the date of snch proposed sction, then to the end of the neat preceding Cslendar Quarter (the ead of tLe applicable Calendar Qaarter being deemed the date of computation). For the pnrposes of tLis ~ 3.01, in compnting Net Earnings of the Gompany Available for Interest and earned snrplus for the period beginning Jannary 1, 1969 to tLe date of any computa- tion nnder this ~ 3.01, and in compnting Total Capitalization of the Company, if the Company shall be reqnired to make refunds to certain enstomers bs a final order of the Federal Povicer Commission in the pending rate proceedinga in Docket Nos. 8P66-4 and RP68-1, then deductions for the amonnt of snch refnnda (adjnsted as appropriate for the effect of related Federal and State income tazes) shall be made only to the eatent applicable to revennea accrued by the Company dnr- in~ the period beginning Jannsrq 1, 1969 to the date of snch compnta- tions under this ~ 3.01. y~ 3.02. Obtaining of all approvals. The Company corenants and ~carrants that it has heretofore obtained all consents and approvals required to be obtained from any governmental or regulatory body or ` , . • : . . a~~gp 18~3 ~ ~ 3 . _ . . - _ _ _ _ a.._... ~ ~ -ti - _ ~ ~ . _ . .