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2A4 (iii) the proceeds of such Additional Bonds will be used only for the refunding of prior series of Bonds {if then permitted under the Indenture) and/or the acquisition or constnaction of Additional Improvements located within the State; (iv) the Issuer and the Company will enter into an amendment to the Lease, and the Company and the Sublessee will enter into an amendment of the Sublease, providing for additional basic rentals in amounts and over a term sufficient to fully pay all principal and interest requirements upon such Additional Bonds and payment of all additional taxes, assessments, insurance premiums and other fees and expenses incurred by reason of such additional financing; (v) the average annual net income before income taxes (determined in accordance with generally accepted principles of accounting and consistent with those presently applied in preparation of its annual audit) of the Sublessee when averaged for any two of its last three completed quarterly fiscal periods shall have been not less than two (2) times the combined average annual debt service requirements on the Bonds then outstanding, including the Additional Bonds proposed to be issued (but excluding therefrom debt service requirements on bonds being retired}, together with debt service requirements on all funded debt of the Sublessee during such period. The term "Funded Debt" shall mean and include any indebtedness (including all outstanding Industrial Revenue Bonds) with an original maturity exceeding 12 months; (vi) the aggregate principal amount of Funded Debt (including all outstanding Industrial Revenue Bands) then outstanding after giving effect to the issuance of the additional series of Bonds shall not exceed seventy-five percent (?5%) of the net worth and subordinated debt of the Sublessee (determined in accordance with generally accepted principles of accounting and on a basis consistent with those presently applied in preparation of its annual audit}; {vii) the issuance of Additional Bonds will, in all respects, camgly with the Act and the provisions of this Indenture, all prOVislOns neces3ary under the Cpde t0 maintain the exemption from federal income taxation of all interest on each Additional Bond of any series; and (viii) the Issuer and the Trustee will enter into a supplement to this Indenture with respect to the issuance of such Additional Bonds and the mortgaging of any Additional Improvements to the Project acquired out of the proceeds thereof; 31 t~