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hich «ith the Trustee is to be mt~de the Uasis for the ~uthenti-
cfltion and delivery of bonds, the ~vithdra~~ al of cash constitut-
ing a pArt of tue trust estate or the releASe of property or
securities subject to the lien of this Indenture; if the fair
value to the Company of such seeurities and of t~ll other such -
securities made the basis of any such authentication and
delivery, withdra~val, or release since the commencement of
the then current calendar pear, as set forth in the certificates -
or opinions required by this Subdivision (1) is ten per cent.
(10%a ) or more of the aggregate principal amount of bonds at
the time outstanding, snch certificate or opinion shall be made
by an independent engineer, appraiser, or other espert and,
iu the case of the authentication and delivery af bonds, shall
cover the fair ~alue to the Company, as determined above, of
- all other such securities so deposited sincc the commencement -
of the then current calendar year as to which a certificate or
opinion of an independent engineer, appraiser, or other egpert _
has not previousl3~ been furnished; but such a certificate of an
i independent engineer, appraiser, or other egpert shall not be
` required with respect to any securities so deposited if the f~ir
~ ~•alue thereof to the Companp as set forth in the certificate or
~ opinion required by this Subdivision (1) is less than Tn~enty-
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five thousand Dollars ($25,000) or less than one per cent.
(1 ~o ) of the aggregate principal amount of bonds at the time
outstanding; and
(2) A cer~i6cate or opinion, dated as of a ciate not more
thAn 90 days prior to the date of deliverv thereof, of an engi-
neer, appraiser or other ezpert as to the fair value to the
Company, determined within such 90 dap period, of anp prop- -
erty the subjection of which to the lien of this Indenture is to
be made the basis for the anthentication and delivery of bonds,
~ the withdrawal of cash constituting a part of the trust estate, _
~ ot the release of property or secarities subject to the lien of
~ this Indenture; and requiring further that if _
(A) ~'Vithin siz months prior to the d~te of acquisi-
~ tion of such property by the Company, such property has
y been used or operated, by a person or persons other than t
~ the Company, in a business similar to that :n which it has :
~ been or is to be used or operated by the Company, and
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