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<br /> �,n:.��`` �� �` ' ' �• ` � t�lS��H.E III � _
<br /> -- � ' 4+ � , 1�DLR�P'TION . �e��� �,�� . _.
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<br /> _ '—' ' �Ssction 1. .The Ideer.I�iortgage Bonds af th��SO%Series sha]l,�poa tt��not�ce�d ' '
<br /> ��� yn the m�ntt�r aztd with the effect providecl in �rticle Fi�+e of the Original Indentt�re,a� _.
<br /> ,�____ �`—�-�:-.-.=;- -,. _� �n�is,t-E�**.:�2 of�A�9�-Ln,-la�redeem�bl�_at.a�r iime and frnm time_tatime-____.__. . .. �
<br /> , .�::���, — — _
<br /> .. -- - - prior to matnrity, at t�e option of the Company,as a whole,upon gayment of the Y'ieId _
<br /> . � � Maintenanoe Price (as heremafter definedj foi each of the i�iew 1Vfortgage Bonds of.ttze . -
<br /> � - .�:;,:,u`.',�.:...`�*Y , 8.90'J'a SeYies to be redeemed, together witit accrued inter�est to the redemption date; -
<br /> `'�``��.: �. : , prrov�ed hozvever,the,Company sha12 not redeem any New Mortgage Bonds of the 8 98% -
<br /> , :._ .4.J4.�1. .. •
<br /> � '�`,- . . �'��.' • Seri�s�n a principal amount less than$200,aQ0 or a multiple thereo£ _
<br />_ �.=�t�S#_ '�"'4C'� ��;� � 1 ' _
<br />. �["���.ft.. ��.r � � . ..
<br /> -- :.�-::•'� ;���.� If tite notice of redemption shall have been given try tiae Compa�r as pra�+ided an the �
<br /> ��'.'��� • ''f�- Iadenture.,the Computi�Holder s��deliver writ4en notic�to tfie Campany��.i�e�fth•. . , ';.
<br /> �z'� '�,r,,;J����•i� , busa�zess day priog��u�em�tsc�.�'te,of tk�amoua�a���e Ya��i'��►..�inte.a�c��'ri�
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<br /> ;i� :��_�� ���tatio�s�z�£ �The�eld� r���'i��nce P,fice set f�n��e�i such natice sha��i��-��
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<br /> -"`t ���'`� �� ;s.;` an the Comgar�absent manifest en�si: . ` ``��:
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<br /> �;;;.;���� � ���" - Tiie Cor�ij��ny shaA deIiver ta each hoIder of the�Ne�e Mortgage�bnds of the�.903'0 =
<br />- ` �`�� `��''�°`r��,� �Series to be red�meal an or before suah redemption date a cerqficate signed by a priacipal -
<br /> �;. ,. � . . x;�.,-�-.:
<br /> � �E"`�'�`� financial officer of the Com an settin forth the Yield I�/Iaintenance Price of the ritt ' al
<br /> �.,.:�rr,.:;,;:+,:.. P Y � P �P -
<br /> ?���'��' � - amount of the New Mortgage Bonds of the $.90% Series'held by such holder su to be
<br /> �:.,, .. ,.�:
<br /> ��'�� '�� ���;�:: � - rcdeeYUed,and setpng forih in reasonab3e deta�7 the calculatioA therepf accotnpanfed by a . � � �
<br /> "Y �..,,1�:' �
<br /> •::' y.. cogry of the writ�es�a�otice�iven by the Compnting Holder whicfi sets fort�the computa�on : • -
<br /> - .a..-=�-� . � of the Yield Maintenance Frice of t�e New 1Vlortsa�e Bonds of the 8.90%S$rles held by
<br /> `' ;i!�r,•�d� � •
<br /> - � '�'f� tlas C flmputing Ho l der. �'I te C ompa�r coveaants en d agrees t hat it wi l l on suc l�r e deriep t�an � .
<br />,� ����> date redeem the New 1VIort a e Bonds of the 8:90% SerIes held b eaah holder o0 7o be�� �� -
<br /> - . �,..::�.,�.•, 8 � Y �
<br /> - -- ��_.���f � . redeemed by paymaent to such holder the Yi�Id 1Vlaintenance Price therefor,Wgether with
<br /> — � ?�'�,�`. �"�� interest accrued thereon tp ttae date�aed for redemption.
<br />=i .�`
<br /> As used�n th�s Sectcon 1:
<br /> .. "Computing Holder" shall mean the holder who holds bonds of tiie New Martgage �.
<br /> ---- � � Bonds Af the 8.90%Sesies with an a�regate principal amount outstanding Iugher tban that
<br /> -� - og New Mortgage Bonds of the 8.913%Se�ies held by any oth�r holder,ar in the event two .
<br /> ., � or more holders hold an eyuaYamount which constitutes the highest principal amount o�tiie
<br /> New Mortgage Bonds of the 8.90%a Series,any holder designated by th�other halders. Far
<br />�- purposes.of det�rminin� the Computing Holder, the New Mortgage Bonds of the 8.90%
<br /> Serles then held Mettopolitan Life Insurance Campany and.its,subsidiaries shall be
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<br /> •;' � aggregated. � , , _
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<br />-:� � � "Weighted Average Life to Final MaturityJ"of any of the New Mortgage Bonds of the
<br /> �°��. �� 8.9(3%Series to be redeemed,shall mean the nu�her of years(rounded to the nearest one-. �'
<br /> :� ' �'h .
<br /> _�� _ .,�.: ta►elfth of e year)wIucb w�'ll elapse between the scheduted date of redemption thereaf and � -
<br /> ��� �'� "''�i th�schednled date of maturity of the New Mortgage Bonds of the 8.90% Series. °_.
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