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HomeMy WebLinkAbout2680 : i - s ~ ~ ~ issucd Agaiiist wifunded net property additions as provided in ~rticle ~ ~ I~' of the Original Indenture, as amended. ~ ~ Sscriox 8. The Company agrees that it will at all times main- a tain, preserve aud keep the mortgaged and pledged property, with the ~ appnrtenauces and every part and pareel thereof, in good repair, work- ~ e equipment aud a ~ ing order and condition and eqnipp d with snitable p- _ pliances and in acoordance with the accepted standards and reqnire- 3 s i ments of the Pnblia Service Commission of Florida. ~ ~ ~ = S$cTTOx .9. The Company covenants and agrees that, so long as ~ any bonds of Series O shall remain outstanding, uo dividend shall be ~ ~ paid on any sbares of any class of capital stock of tLe Company, eacept ~ ' dividends payable solely ~in stock of the Company, nor shall any shares ~ of any capital stock of the Company be purchased, retir~d, or otherwise ~ acquired by the Company, unless after giving effect to such payment or ~ acqnisition, the aggregate of all such dividends subsequent to Decem- ber 31, 1971, plns the ezcess, if any, of t.he amount appliecl to or set ~ ! apart for the purchase or other acquisition of any shares of capital = ~ stock of any class, subsequent to December 31, 1971, o~ er the sum of ~ ~ (a) such amounts as shall have been received by the Company as the ~ ~ net cash proceeds of sales of shares of its capital stock, of any class, ~ subsequent to the initial issuance of bonds of Series O and (y) amounts ~ received as contributions to the capital or snrplus of the Company ~ ~ subsequent to the initial issnance of bonds of Series O, shnll not egceed ~ ~ ~ the total of ~ 3 (i) the income of the Compan3~, earned after December 31, :3 ~ 1971, available for di~ idends upon capital stock; plus ~ ~ (ii) all other proper net credits to surplus made after the initial issuance of bonds of Series O(escept amonnts included ~ in (a) and/or (y) above) ; plns ~ (iii) the sum of $6,000,000; ~ d r oin limitations pro~~ided, ho~vever, th~t notwitlistancLn~, the fo eg g , tl:e Companv (a) may, for any ~ezr, but not esceeding two-years in ~ tlze aggregate, pa~ dividends from income of the Companp enrned ~ prior to December 31, 1971, on anp shares of an~ preferred stock of - ~ ~ the Company issued for c~sii, and (b) ~n~~~ makc eschanges of stock ~ of the Company solels for other stock of the Company. ~ ~ ~ ~ ~ tO~K~U~7 P~GF~,U~ ~ -i If yi~ ~ ~ 1 ~ 1 ' ~t~T~ J~~`?~` ~ ~ ~ T'i`2 `.3'> ~ 'fi.~~~i~ . . ~ . - ~'...~i:~~~ _ i. . . ~ e.1~..4+"