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cipal ainount of Fifteen ~iillion Dollars ($15,000,000) ; such bonds to be
issued against unfunded net property additions as provided iu Article ~
IV of the Origi.nai Indenture, as amended.
g, m~,, r,,..,.,~„~ A~.,.,~R thAt it tivill at all times Illfllri-
_
' tain, preserve and keep the mortgaged and pledged property, with the
appurtenanees and every part and parcel thereof, in good repair, work- •
ing order and condition and equipped with suitable equipment and ap-
f pliances and in accordance with the accepted standards and require-
~ ments of the Publia Service Commission of Florida.
E ~
! Sscrio~r 9. The Company covenants and agrees that, so long as
, any bonds of Series P shall remain ontstanding, no dividend shall be
t paid on any shares of any class of capital stock of the Company, egcept
; di~~idends payable solely in stock of tLe Company, nor sball any shares
; of anp capital stock of the Company be purchased, retired, or o~herwise
acquired by the Company, unless after giving effect to snch payment or
; acquisition, Lhe aggregate of all such dividends subsequent to Decem-
; ber 31, 1972, plus the egcess, if any, of the amount applied to or set
apart for the pnrchase or other acqnisition of any shares of capital
stock of any class, subsequent to December 31, 1972, over the sum of
(z) sucL amouuts as shall have been receired by the Company as tlie
net cash proceeds of sales of shares of its capital atock, of any class,
subseqnent to the initial issuance of bonds of Series P and (y) amonnts
received as contributions to the capital or snrplus of the Company
subsequent to the initial isauance of bonds of Series P, shall not eaceed
the total of
(i) the income of the Company, earned after DecemUer 31,
1972, available for dividends upon capital stock; plus
(ii} all other proper net credits to surplus made after tl~e
initial issuance of bonds of Series P(egcept amounts inclnded
in (g) and/or (y) above) ; plns
(iii) the sum of $7,000,000;
provided, however, that nota ithstauding the foregoing limitations,
the Company (a) ma3, for any year, bnt not ezceeding two }•ears iii
the aggregate, pay dividends from income of the Company earued
~ooK22Q PAGf2348
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