|
26
<br />ARTICLE I I.
<br />ST. -, ri�.�� ]. The Company covenants that it will delv-
<br />and punctually pad- the principal and interest of evorY
<br />note issued hereunder and secured hereby-, at the dates
<br />and place and in the manner specified in such note, or
<br />in the coupo>>s thereto belong-ilig", according to the true
<br />intent and meanirl", thereof, n1141 the C.ompnny further
<br />covenants (to the fill] extent that it nlny now lawfully so
<br />covenant) that each such pnp-ment sbnll be made without
<br />deduction from either principal or interest for any- taxes,
<br />assessments or other govormnental chnrges imposed by
<br />the United States, or by aS State, territory-, county,
<br />city, vilinge, to«mship or other municipality or aov-
<br />ernmental subdivision, in(] which the Compau�- may be
<br />required to pad- thereon, or antluwhed to de&wt or retain
<br />therefrom, under or by reason of any present or future
<br />lam- or requirement, the Company hereby- ag•reein, (to
<br />the hdl extent that it may- now NAX -fully so n-rev) to par
<br />nil such tnxcs, assessments and ehar es. The interest on
<br />the note", shall be pnynble only neon presmAntion of flee
<br />several eoupons for such interest ns they- respectivel }-
<br />mature, and, -when paid, such coupon; shall forthwith he
<br />cancelled.
<br />The Company further con-ennnis that on or prior to the
<br />date on which onch instnlhueut of interest on said note",
<br />Neoules due, the Company- mill deposit with the Trost
<br />Company the entire amount necessary to pay the coupons
<br />due on well date on all of said notes then outsttuudin_,.
<br />];hell melt installment of interest money so deposited
<br />Snell be he]d by the Trustee as a special deposit for the
<br />neeoma of the holder or holders of the coupons due oil
<br />x11011 interest date and ",hall he applied by the Trustoo to
<br />27
<br />the payment of such columns upon prescntatioll n11(1 Sur-
<br />render thereof. ]!all suelt deposit of interest moue- so
<br />made by the Company- shall disehnrgc the liability- of the
<br />Conlpan, to pay the eonpons rgWOserttin;; the insUdhneut
<br />of interest on account of which such deposit shall he
<br />made, and thereafter said coupons shall not he entitled
<br />to an_e benefit of or front this Indenture.
<br />Sro�. 2. The ( n pany, at the office of the Trust Com-
<br />pally, in the City- of Chicago, Will. Iwo I register or
<br />registers for the registration ;md transfer of notes is-
<br />sued herejulder, in -which the 'Trust Company- will reg-
<br />ister, subject to such reasonable reulations as it may
<br />prescribe, any netts issued hereunder and secured hereby-.
<br />l'pon presentation to the Trust Company at its ollice
<br />in Chicago, Illinois, of any such re gistered note. accoill-
<br />panied by the deliver- of a written iust.runlent of trans-
<br />fer in the forte approved h'- the Trust Company-, exe-
<br />cuted by the holder, and the payment of the
<br />Trust Amllpnny's reasonable charge, such note may be
<br />trnnaferred upon such resister by the registerc(l holder,
<br />in person or by attorney-, and such transfer shall be noted
<br />by the Trust Company- upon the register and upon the
<br />note. The re"istcred Bolder of ntty- such reg- istered note
<br />shall also have the right to cause the snule to be reg.
<br />istered as payable to hearer, in whiell case trausfcrabil-
<br />it\ 1) - delivery shall he restored, and therenl'tcr the p"In-
<br />cipal of such note, w hell due, shall be pa,—ahle to tale jwl.-
<br />son presenting the cote, but aulY such note, re,istered
<br />as payable to hcnrer may he rvostcred agnthl in the nun e
<br />of the holler, with the same, ci'feet as a first rcgi,tratiou
<br />thereof. Sut cessivo regi.,trations and transfers as nfore-
<br />said stay be made, from time to tinue as desired, and eneli
<br />l vostration of a note shall be noted by the T -rust Coni-
<br />
|