234 TIMBER BONDS 



AETICLE V. 



In order to prevent any accumulation of 

 bonds or coupons after their maturity, the 

 Company covenants and agrees that it will not 

 directly or indirectly extend or assent to the 

 extension of the time for payment of any of 

 the bonds or of any coupons of any of the 

 bonds secured hereby, by purchase or funding 

 of such bonds or coupons or by any other ar- 

 rangement unless and except such extension 

 shall be subject to the terms of this article. In 

 case the time for payment of any such bond 

 or coupon shall be so extended, whether or not 

 such extension be with or by the consent of the 

 Company, such bond or coupon shall not be 

 entitled, in case of any default hereunder, to 

 the benefit or security of this mortgage, ex- 

 cept subject to the prior payment in full of the 

 principal of all bonds issued hereunder then 

 outstanding, and of all matured coupons and 

 accrued interest thereon, and of all other ac- 

 crued interest on such bonds the payment of 

 which has not been so extended. 



ARTICLE VI. 



The number first having been selected by 

 lot by the Corporation Trustee, any outstand- 

 ing bond issued hereunder may be redeemed 

 and paid by the Company at the place of pay- 

 ment of said bonds on any interest payment 

 date, upon pajonent of the principal of said 



