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1G
<br />11V- Its ter!' Id�'llt, or V Ice- Prosldellt, ill smell dl,no1 hill L-
<br />tions as ma' he speeified in such order, to a principal
<br />aluount or anoints not exceedin,_;
<br />(a) The par value of ally of the undedying bonds
<br />hereafter purchased or redeemed or deliv, red to the
<br />Trust Onnpnny in exchan, Or notes hert,by secured: or
<br />(b) _ ily cash sums mill, shall have been paid b),- the ('01"Pally for sinkin o, fund paylllellts aecrniu,' after April
<br />1 -, 1914, under the luderlyin' ruort�gage, inclndin the
<br />mnounts paid by the Company for any of the underlying,
<br />honds whicli it nmy hereafter wellase and turn in in
<br />satisfaction of any such sinking, fund payment unless
<br />such undorlyin,' bonds shall Ave been previously- made
<br />the basis for the certification of notes undt,r the pro -
<br />� isions of this Suction. Provided that
<br />(1)
<br />Any of said underlying bonds Well. may be ac_
<br />quire( hy l,nr(,hnse or exellunge shall be delivered to the
<br />Trust ('onlpally uncancelled, with all unmatured coupons
<br />tlwreto k4oll--ing and he held I Y it under and snbjeet to
<br />the provisions' of this Section; alld
<br />(2) That in the case of ally underlyin�, bonds re-
<br />deeuled or paid in accordance «-ith their terms, there ,hall
<br />he prt�selited to the 'Trust Company the uuderlying, bonds
<br />so paid or the certificate of the Trustee under the mort-
<br />ag-4, securing such nndt,rlVill'. bonds Showing that there
<br />hart, bee -.0 d,i)usifod rm. the full final lulyllieut m. re-
<br />deulption of such undeli ill, bonds the necessary 1'1111(;
<br />for that purpose; and,
<br />(;) That in each ease of a I"Inost for the certifrca-
<br />tioll 'Ind delivery of Wilds under tli,. �t,c °boll. there shall
<br />be presented to the Trust ('oulpnlln a certificate executed
<br />in the manner required by s; ubdivision (.1) of . \niche
<br />of this Flit] euture to the efi'cct that
<br />17
<br />(a) 'I'll(' underlying, bonds ill respect of which such
<br />request is made IlavP not linen paid, purchaser) or re-
<br />deemed out of funds applicable to the payment, purchase
<br />or redemption of said bonds by Nirtne of any iusurnmc
<br />or partial release provisions of this Indenture or of the
<br />underlying mortgage, nlvl have not been acquired for
<br />the sinking fund under the underlying, mortgage, or by
<br />the use of any moneys in such sinking; fund; or
<br />(b) Thnt any bonds turned in by the C'onipany to the
<br />sinking fund under the underlying- mortgage, and for the
<br />purchase price of m-llich notes are requested under this
<br />Section, have not been previously made the basis for the
<br />x certification of notes under this Section.
<br />I
<br />Any- such underlying hoods m hich ruay be delivered to
<br />the Trust Compauv uncmlcelled shall be held by the 'Trust
<br />(Anpany subject to the terms and proMsions of this
<br />Section as pert of the mort "*nged property- as fnlly and
<br />completer- in all respects as thou "ll such bonds had been
<br />specifiealr- transferred and deuce ooh to the Tnmt Omi-
<br />pany at the date of the execution of this lndcuture;
<br />Provided, however, that the 'Trust C'ompinly ,hall at
<br />any- time, upon the "vritterl request of the Colnp lily,
<br />signed 1) its President or Vice- President, deliver any
<br />such bands to the Trustee under the underlying, rnortg"Zign.
<br />ill of towards sntusfactlon of nllY sinking fluid payment
<br />due thereunder. So long as tilt, Compare'- shall not, to
<br />the knowledge of the 'Trust Company, be in dt,fnult in the
<br />paynwnt of principal or interest of the note= issued ;Ind
<br />outstanding hereunder, the 'Trust Company shall pad- to
<br />tit(, Trensurer of the Gonlpany, or upon Iris Nv6tterl order,
<br />the moneys received for interest or principal of such nu-
<br />derl }-ink, honds so held by the Trust Company, unless such
<br />bonds shall have been redeellied. or pnil1 out of insurance.
<br />
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