HomeMy WebLinkAbout1873 ~~r~~~ _ .
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~ property additions inclnded in the facilities to be constracted
i or acynired in snah ezpansion or conatrnction program during
i the firat 12 Calendar Months after the completion of snch pro-
i gram, as shown pnrsnant to paragraph (5) of subdivision (a)
of this ~ 4.01, in anch O~cera' Certificate.
i For the pnrposes of this ~ 4.01, the amount of tbe '~pro forma net
i earnings of the Company available for interest" for any particular
~ period shall be the amount of \~et Earnings of the Company Available
i for Interest for such period as defined in ~rticle 1 of the Indentnre,
~ plns the sum of the amonnts determined pnrsuant to clauses (i) and
i (ii) of the preceding pflragraph for snch period.
' If, less than 16 months following the completion of an eagansion
! or constrnetion program (herein called the `~prior program") that has
been made the basis for the authentication of Additional Bonds, appli-
cation is made for the anthentication of Additional Bonds on the basis
of an ezpansion or constraction program (herein called the '•snb-
seqnent program") not previonsly made the basis for the anthentica-
tion of Additional Bonds, in each case pnrsuant to tlus 4 4.01, with the
result that the earnings attribntable to the facilities constrncted ander
the prior program shall not be reflected for the whoie of the period .
_ of 12 consecntive Calendar Months specified pnrsnant to s~ubdivision
(a) of this ~ 4.01 in the 4fficers' Certificate aa~ompanying the applica-
tion for authentication of Additional Bonds on the basis of the snbse-
qnent program, then appropriate adjnstment shall be made in the com-
pntations in snch Oflicers' Certificate pnrsnant to the two preceding
paragraphs of this ~ 4.oi to inclnde the eamings attribntable to the
facilitiea constrncted nnder tLe prior program, as nearly as may be
practicable, as if snch facilities had been in service dnring the entire
period of 12 conaecntive Calendar ~onths ao specified.
~ 4.02. Other requirements for authentication of ~dditianal Bonds.
~ So long as anp Bonda of the 1991 Series shall be ontatanding, the pra
viaiona of ~ 4.os of the Indentnre shall be applicable to any application
for the antbentication of Additional Bonds pnrsnant to ~ 4.03, ~ 4.04
or ~ 4.05 of the Indenture eacept as otherwise provided in ~ 4.01 of tlus
Article 4 and eacept that the nnmber '~3~" shall be eabstitated for
the nnmber "4" in clause (iii) of subdivasion (b) of ~~.OS of the
Indentnre (bnt, so Iong as any Bonde of ~he 1979 Series, Bonda of
the 1982 8eries, Bonda of the 1986 4eries, or Bonds of any other
~~,$~9
600K
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