The URL can be used to link to this page

Home My WebLink About1812 . , ~l . ~ . ~ • . . ' , ~ " ' . ' • . ' ~ . ~ . . • ; ~ . . . ' ~ . . , . - . • , , ' ' , ~ . • ~ . . . : , . ~ . ' ' • ~ ~ . ~ ~ ~ ~ ' . • ~ ~ ~ . . , • ~ • . . . ~ ~ ~ ' : - . 4 , ~ ` ~ ` c . ~ ' - b . ~ , f ~ ~ ~ ~ ± . ; l~t.~ . ' , . 1 =;ti ~ ~ • . . . ~ ~ 4 • ' ~ bereunder or iinder !he bonde ezoept after the prbr p~?yment of e~ll bonds,~aoupone t~ad olairiie~for iuterest na~ ~ • eo owned; but ~he ~u,stee ma,y presuma oonoluaively that no bond ie ea owned ualeea and until it ah~?11 hseve , ~ reoaived Written evidenoe to tbe oontrary eatiafaotory to it. ~ . . &partox 1,17. No ooupon or ol~?im for intereat whiah in any we?y at or atter its mayw~itty ehall have been ~ transferred or pledged apart from ~he bond to whiuh it appertaine, aud no ooupan or ulaim~for int~erest tbe ~irne _ ~ for the payment of which ahall have b~n extended in any manner wbataoever, sha~ll be en~itled to ~ny of the ~ bene8ts of thi~ indenturo except aiter the prior paymeut in full of all bonds, ooupone snd claims for interest not eo transferr~d, pledged or extsnded; pmvided, however, that the foregoing provieior~ ehall not apply to any ooupon or claim for intere~t transferred, pledge~id or ea~snded pursuant to a plan aacepted by and binding upon the holdere of nQt lesa Lhan 80% in aggregats prinoip~l amount of bonda at tho tixne out~tsnding. • , . ~ , AR.TICLR 2 , € Iesw~nce of Bonda . 8s~orr 2.01. The 8eries A bonds stiall be limited to i4,000,000 in aggregate prinoipal amount. Forthwith L upon the exeoution and delivery of t~his indenture the Company may exeaute snd deliver to the ~T~stee e:?id _ ~eriea A bonds, and ther.eupon and wiLhout further: aotion on the part of the Coanpsny the Trustee ahall ~ certify the same and deliver them to, or on the written order of ~ the President or ~eseurar of the Compauy. ~ • ' . . BECrtox 2.02. Bonde of seriea other than 8eri~ A~ may be iesued hereunder (s} ta a prinui~l e?mount equal ~ to 60% of the Net Amount of Praperty Additiona evide~sced to the ~uatee for the purpoee, provided that Net = Earninge Available for Intereat for the calendar year inamediately preoeding the dste of such propoaed ieaue ~ t . ahall have been at least equal to 230%a of tbe interest requirements for a peripd of twelve monthe of all bonds . (in~luding Prior Lien Bonde) to be outstar,ding immediatsly thereafter, eacept tha~, ~o bng ae any indebtedness ~ F~ af Genera?1 Development Corporation shall be secured by a lien on the property of the Comp~qy? as permitted ; by Section 3.09, bonda of such ot~ier seriee i~suable under this F3e~tion 2.02(a) ahall be limited to =1,ODO,Q00 in ag~regate pri.noipal nmount; (b) to a principal amoun~ equal to the amount of c~sh depoaited with th~ Trustee ~ for the purpose; and (a) to refund bonda of any ~eriea voluntarily retireci by the Cnmp~?ny, by purchsse or a~ redemption, and bonda retired by paymeut at ~heir stated maturity. - ~ - ~rcriox 2.03. T~e Company may, from time to time, exeaute end deliver bonds of eeries other tban i~ 8eriea A, snd the Tnletee $hall certify the same and deliver them to the Company upon Requeet, but only i,: upon pr~or reoeipt of the foUowing: . f ~ ' - : (a) ia eaoh Qaae: . - ~ ~ . , - . i°' (1) if euah bonds are the initial bonds of a eeriea other than ~eries A, a suppleatient~al indenture ~ executed by t6e ComP~Y, setting forth the particular proviatons applicable to s~ch eeriee in aQOOrdanae with Axticle 1~ereof, and~a oertified ~opy of reeolutiona of t~he Board of Direotore sut~6~rking the eana,o; ~ ' ~ (2) a certiSed o~py of r~eolutiona~of the Bourd of Directora aut~orising t6e exeoution aad deliv~ry i.` of euch bonds, epecifying tt~e baeie for their iasuance within the pmvisiona oi 13eot~on 2.02 hereof, and 3, . requesting eertification thereaf by the Tnistee to a epeaified aggregate prinaipa~l auwunt; ~ ~ ~ . : . x (3) ~n Opinion of Counsel to t6e.effe~ th~t t~bs Campany ha$ full oorporate autbority to imue such ~ bonds; t,}u?t ~11 oorporste s+ction neoe~sry to their ieauaaoe bae beeu taken; that the uuthori:atiou.of ~?11 . ~ t+egulatory bodiee baving juri~diatiaa over their iseuanoe hae been obtained; that any supplementsi ~tr- ~ ~ c~nture:to be executed~ia ooaneation t,hei~ewith ~vill be ~?.valid ~bligation of tbe Comp~y is~ aooordaqoe ; t ~~vith it~ terrns; that auch 3e~ue of bouds i~ u? ~coordsnoe with thi~ indenture aa eupplernented or then to be ~ . :~~P~lemented by indentures euppleanent~al thereto; and thut suc~ bonds, when eo iasued, wlll be vatid ~ ~ _ obligations of the Company entitlcd ~o the bene&t •nd eecurity of this indenture equally with all bonds ~ ~ ~ _ . t~hen out~suding; ~ ' ' - . ~ ~ ' . ~ ~ . _ - : . g . y`{ ~ - . . f ~ ~ ~ ~ ~ K~ - _ ' ~ . - . ' _ ~ ~ ~ ~ ~ • , ' . : . ' _ ~ ~ ' . ~ . . ; • . ~ . • . - '