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~ (4) certified copiee of all ordera of regulatory bodiee referred to in the foregoing opinion of oouneel;
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~ -(5} eu~ Officere' CertiHcate atating that all Pmperty Additions (excepting any land that niay be a part
of such Property Addltione) are subjeot to amort'~sation bq annuai depreciation chargea dednotible from
e~?rninp of the Company in determining i4,e ini;ome subjeat to federal incom~ tax, e?txi ~ting whether,
~ and if ea~in what respect and to what eistent, a~? d'efault existe hereunder o~ will'exist iriimed{ately after ~
~ the issu~nce of such bonds in accordanes with tha re~olutione of the Board of ~irectora•authori~ing the
. eame~. . _ . ,
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! (b) in ease of bonde to be iesued agaiASt Property Additaona: .
(1) a cettificate purauant to Seotion 12.05(m) aereof evidenaing a Net Amount of Pr~operty Additione
; equal In vnlua to at least 168~% of the aggregate prinaipal amount af such bonda; ;
(2) a certifica~te eigned by the Tr~eut'er of the Company and reviewed by the comptmller of the ~
' Compeqy, demonatrating that Net Eaminge Av~?ilable for Interest for the calende?r y~ear immediately ;
~ preoeciin~ the date for such propoeed iesue, have been at least equal to 230°yo of the intereat requirementa ~
for period of 1~ months of all bonds (including Prior I~ien Bonde) to be outstanding immediately there- ~
! after, which certific~?te ahall eet forth in summary form the calculation of auch Net Earninga Available ~
; ~ for InterEet; . . ~
' (3) in caee any Property Additiona shall ooneist of any operating aystem acquired a8 an entirety, ~
~ or eubetantially aa an entirety, (
(A) the certi6cate pursuant to Section 12.05(m) hereof ehall eeparately describe such acquired ~
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eystem and state the principal amoun~ of all Prior Lien Bonde, if any, secured by a lien thereon;
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; (B) there ehall be filed with the Trustee a cerEifiuate of an Independent Engineer Btating (i) Fruch i
~ property conetitutea Progerty Additions a8 her~in defined, (ii) the fair value to the Compaay of ~
8uch property at the date of such certificate, which determination of fair. value shall be ooncluaive ~
s' ~ for purposes of this indenture; and (iu) that in the opinion of euch Ind~g~nden~ ~n~eer f,~e acqui-
sition of such pmperty ie desirable fmm the standpoint of the Company and of the holdets af t~e ;
t
s ' ~ bonde iesued hereunder; and . ~ . . . ~
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~ (C) there ehall be depomted with the Truates csa~ eufficient to eatiafy and diec~arge all Paior ;
~ Lien Bonde, if any, diealv6ed by the afor~id s~art~ificate, t~ogether with in+evocable inst~ruation~ t~o i
; apply eaid aash for aaid purpoae, and such evidenoe aa the '1'rustee may require to eetabl.i~h t~e
. ' eufficienay of au.ch csah for such purpoee; • • .
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- (4) an UPini+~n of CQUnsel to t~he effeat eet forth in the certa.ficats delivered purauant to Sectima '
~ ; I2.05(m) het~eof; . . . . - i
~ ; (o) in caee of bonde to be ieeued againat caeh, caeh in an annount equal to the aggregate prinaipal amount ~
! of euch bonde; ~
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° . (d) in ease of bonds ta be iesued for refundin8 Purpoeea: ~ '
E (1) a certificate eigned by ~he Treaeurer of the Company establi~hing an amo~nt of refundable boade i
j ual ia aggregate princi amount to the bonde ropoe~i to be iasued: ~ I
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` ~ ~A) ~ in the ca~'of lionda woluntsrily, rettred .b~! the _Coaipany by.pu.rchaee, bY: BP~ifYing :the !
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, psrticulat bonda s~_tetired_and:tite s~gt+8gate amd~n; tbei+eof; : ~ .
(B) in the c~ee of bonde voluntan'ly..reti~+ed by the Company hy redem}~t~n, bY ~JP~Y~S ~
aggregate amount af one or more seriee of bonde eo redeemed and the date or. dstee of redemptioa, ,
~nd etatin6 further thst none of aueh bonda r,?as rdieemed tb~mugh the oper~t~ion ot e?ny eiating fuAd ,
~ het+e~ttnder, or pureuant to Section 3.17 or 7.0~4 hereaf (relating ta inaueanoe e?nd emfn~t d~nsin
~d rele~e mo~7~, - . ~ ;
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