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~ - . 11 -
~ ~ = second Series through the use, directly or indirectly, of funds borrowed
- ~ . by the Company at an effective interest cost to the Company (calculated
~ in accordance ~1~ith acceptable financial pi•actices) of less than 9.079 = ~
_ per annum.
_ ( III ) Bonds of the Tliirty-second Series shall also be redeemable in
~ . whole at any time, or in part from tirne to time, pi•ior to maturity, upon .
like notice, by_ the a~plication either at_ the option_of the Company or _ ~
_ _ -
- ptu~suant to the requirements of the R~ioi•tgage) of cash delivered to or
deposited ~vith the Corpo~ate Trustee pui•suant to the provisions of- - -
Section 39 or Section 64 of the Mortgage or «~ith Proceeds of Released
~ Property, at the following ~special redemption prices; expressed in per- .
. centages of the Urinci~al amount of the bonds to be redeemed :
• ~ - SPECIAL REDE14iPTI0N PRICES
If redeemed during the 12 month period ending Apri130,
~ 1976 . . . . . . 101.00 j~ 1980 . . . . . . 100.G6 J~ ~
1977 : . . . , . 100.93 1981 . . . . . . 100.55 j~ -
1978 . . . . . . _ 100.85 ~'0 1982 . . . . . . 100.43 /o
• - 1979 100.75% 1983 100.3~~~. ~
. - . . _ isa~ . . . . . . _ ioo.oo ~a ~
in each case, together ~;~ith accrued interest to the date fixed for redemp-
- . - t1011.
~ ~I~~; ~`~t thE o~~~i~n of t.he registered o«•ner, any bonds of the Tliirty-
- second Series, upon surrender thereof for cancellation at the office or
~ . agency of the Company in the Borough of 11'Ianhattan, The City of - -
- ~ Ne~i~ York, together with a«~ritten insti•ument of transfei• ~vherever re- - -
quired by the Company, duly executed by the registered o~vner or by his
duly ~»thoi•ized attorney, shall (subject to the provisions of Section 12 - _
_ . of the ~l~Iortgage) be exchangeable for a like aggregate principal amount _ •
of bonds of the same s~~ ies of other authorrized denominations.
Bonds of the Thirty-second Series shall be transferable (subject to
_ the provisions of Section-12 of the ~1Zortgage) at the of~'ice or agency
~ - - - -
of the Com an in the Boi•ou h of Manhattan The Cit of New York.. _ .
P Y . g , Y
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- ' . - , : : ; ~ . BOOK239 P~~E2912 .