|
13� - .
<br /> .
<br /> by the Tru�tee and surrendersd to the Railroad. Company..
<br /> aeetion 6. Neither the principal or the �.ntere$t oY any �old boad $t a�np time so held by he
<br /> �rustee shall be collectod or required to be paid, unless or unt3.l proceedinga �hall �have been in- ,
<br /> -�s��tu�ed to enforce .the mortgage securing the old bonds , e3thar bp- eat�ry or by ge�le•, but� then and �.�
<br /> thereupon, all of �the o1,d bonds then so held-by the Tru.stee , and all it��erest thereon maturing oa
<br /> or subsequent to the date upon Rhich the da�ault was mac�e,�or which such prot�aed�ng$ �shall have be n
<br /> inatitu�Led, ehali be entitled to p$pment; arui payment thereof shall be enforeed ratabl3r and equall
<br /> �f�'.a11 oP the �ther old bonds not deposite8 with the Txustee; but al3 i�tere�t maturing upon aap
<br /> such ,depos3ted old bond� prior to any default under this mort�age, or under the mortgage aeauriag
<br /> the old bonde, �hall be desmed to have been paid and satie�ied; arut, upon request of the Ra3lroad
<br /> Companp therefor, the eoupflns or intexeet warrants repregenting ��uch interegt_ shall be canceled bp
<br /> the Tru�tea and-delivered to the Ra3.lroad Company.
<br /> Section 7. T$e a�gregate amount of all bonds arhich ma� be t�sued �and out�tanding und�r t is
<br /> indenturm e�all never, at any one t3me, eaceed the pr3.ncipal �um of '�if�y �tillion Dol.lar,� (�50,00 ,
<br /> 000) , u�].e6e and until the lines of rai7.road, �ith their franchises and app�rtenances, deecribed i
<br /> �ection 2 of thie Art3cle , aha11 have beea aub�ected to �he lien of this �iadenture in the manner a
<br /> by the conveyanee prescribed in Qaid section; and theraafter sha11 nev+er at any one t3me e=ceed th �
<br /> principal sum of Two Hundred Million Doilars (�a00,Q00,000j.
<br /> Section 8. In ease any c,f said bonds ehall be issued pa�able in sterling monep, one po
<br /> sterling shall be taken to be the equivalent of �ive dollarB. t�nited 8tates go].d coin, for the pur
<br /> -pose of de�termining ths aggregate principal amount Qf anp bonds �so iBaued�, or to be issued, for a
<br /> purpcse uncler the. prov3sione of this Articie:. - `
<br /> ARTIOI� THIRD. �
<br /> POS8E8$ION UNTIL DEFAIIl�T-D�FEASANC�. �
<br /> �eatiQn 1. Qntil some default shall h�ve bean made in the due and pnr�atual papment of th
<br /> �.nt.ereet or of the principal of. the bor�ds. hereby secured, cr of some- par� of �uah intere�t or pri '
<br /> -cipal, or in the due and punctual performance and observence of some covenant or aondit i�on hereof
<br /> obligatory upon the Rail�coad Company, and s�ch defa�lt ehall have continued beyond t�e per3od of g ce
<br />� i� anp, herein,provided in reepeet thereof; the Railroad Companp, ite aucce�aeors and aasigns� shai
<br />�
<br /> ib� suffered and permitted to reta�a actual pesaession cf the mortgaged properties,� ancl to mana,ge�
<br /> operate and u�e thv sams and every par� thereo�, and to colleapt , receive and take the tolle, earn
<br />� -ings, rente�� issues, profits, and other inco��. t�iereof; but the Railroad t3ompany hereby �covenant+�
<br /> and agree� to pa� f3rat from such income, after paping the eap�MSes of opere.ting and ma3nta3ning s d
<br />� propertiea and t�e taae$ thereon, the interest. acc=u�:�►g�~and maturing upon the bcndB issued hereund ;
<br /> nnd such income, after paping the expenses of maintain3ng and aperatin,g the railroads sub3ect to t
<br /> lien her�cf, ehall, either �before or after. defat�]:� , and whether 8aid railrosds are oparated by the
<br /> ailr4adt:Company, or by the Trustee under the power of entry her�inaf�er reserved, or by �a reaeiver
<br /> . . _ � . � � �i�:- . .
<br /> � r�ceivers appointed by an� court at tha instance •vf thg Ra3lroad Company or of anq creditor, sto k-. .
<br /> holder or other person, inte.reated in +�aid Ra3looad Compa�r, or havir�g the right �o. applp for euch � -
<br /> ppoin�ment, be primarily pledged and applied to the payment of the 3nterest and pr3ncipal of said
<br /> onde in the order of prioritp declared in 8ection 1 of ,Art3cle Fifth hereof:
<br /> Section 2. If, when �he bonds herabq sec.n�ted Bhall become due and gayablet� the Rs�ilroad
<br /> Comgany shall well and truly pay or eause to be paid the whole amount o� the principal and intere�
<br /> due or accrued upon all of the bonde herebq secured and �hen outstanding, vr shall provide for aua
<br /> papment by depositing with the Trustee hereutader, for the payment o� suoh bo�d8� the en�ire amount �
<br /> due and to bacome ..dus thereon for princigal and. intere�t , and ahall also pap or cauee to ba paid a 1
<br /> othsr sums payable hereunder, and eha�.l Well ar�d tru�p keep, perform and observe all t�ngs here3n -
<br /> required to be kept, perfromed and observed bp it according to the true intent and meaning of i�his
<br /> indenture, then and in that case all the railroads and other property, rights and intereet� �erebg
<br />�
<br />
|