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officers of the Company, and also any Series S bonds may be signed
and sealed on behalf of the Company by such persons as at the actual
data of the execution of such Series S bonds shall be the proper officers
of the Company although at the nominal date of such Series S bonds
any such person shall not have been such officer of the Company.
Only such of the Series S bonds as shall bear thereon a certificate
of authentication in the form hereinbefore recited, executed by the
Trustee, shall be or become valid or obligatory for any purpose or en-
titled to the benefit of the Indenture, and such certificate of the Trustee
shall be conclusive .evidence that the Series S bonds so authenticated
have been duly authenticated and delivered.
Sacrlox 2. At the option of the Company and upon notice given
as provided in Article I% of the Original Indenture, the bonds of
Series S shall be redeemable, in whole or in part, at any time, at the
applicable percentages of the principal amount thereof specified in the
form of Series S Bond included. herein, plus interest accrued thereon
j to the date fixed for such redemption, and thereafter and prior to
maturity, without premium, all ou the conditions and in the manner _
~ provided in the .Indenture.
Provided, however, that prior to November 15,1984, bonds of Series
S may not be redeemed as part of, or in anticipation of, any refunding
operation involving the incurring of any indebtedness having an interest
cost (calculated in accordance with generally accepted financial prac-
tice) of less than 121/S% per annum. Anything contained in Article I% of
the Indenture to the contrary notwithstanding, in the case the Company
shall elect to redeem Series S bonds, it shall, at least 15 days before the
date upon which the notice of redemption herein provided for is to be
given, notify the Trustee in writing of such election and of the aggre-
gate principal amount of such bonds to be redeemed, and thereupon,
if less than all of the outstanding Series S bonds are to be redeemed,
the particular bonds to be redeemed in whole or in part shall be desig-
Hated or selected by lot by the Trustee in any manner deemed proper _
by the Trustee.
The Trustee shall within 10 daps after such designation or selection
notify the Company in writing of the numbers and principal amounts
of the bonds so designated or selected by it.
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