The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1915-09-21

A.
aled with she depositary. Such publ.
,ation and mailing Of notice where mail
ing Of notice Is required hereby, shall
constitute conclusive notice to All de.
posting bondholders Of the udoption Of
such new plan or modified plan by the
committed. as. ta
Dissenting Bondholder May Withdraw
"Any depositing bondholder may,
within thirty days after the frst pub.
lication of such notice, upon surrender
10 the depositary Of his, her. their or
its certificate Of deposit, properly en-.
dorsed, and upon payment Of such sum
ms the committee may Ak as a fair
contribution to the disbursements and
cxpenses Of the committee, and for their
indebtedness, obligations and iiabili-
ties then incurred [but In no event 10
exceed 80 per bond Of $1,000 and at the
same rate for bonds of less nmount)
Withdraw from this agreement, AMI
thereupon he, she,Ithey or IL, shall To
Itntitled to receive from the depositary
the bonds and coupons specified in and
represented by his, her, their or its GER.
tihcate of deposit. s...
silence Gives Consent
"Depositihg bondholders 40 with.
drawing, shall, by such withdrawal
and without further act, be fully re-
lieved from the obligations Of this
agfeement and shall cease to have any
rights hereunder. Depositing boa1-
holders who do not so withdraw with.
in said period of thirty days shah be
deemed TO have waived the right Of
withdrawal and to have assented to and
authorized said new plan or modified
| plan MS the case may be, in all it's terms.
whether they have received actual no
tice or not, and the committee shall be
fully authorized by them TO carry out
such new plan or modified plan as the
case may be and shall have full power
and authority to use, transfer, or deliy-
or, under and in accordance with such
new plan or modified plan, the bonds
and coupons not so withdrawn, as fully
as IL such new plan or modified plan
we're a part thereof, and had been ex-
pressly assented to by the depositing
bondholders not so Withdrawing. and
the right Of the depositing .bondholders
not so withdrawing, shah be subject
70 compliance with such terms and con-
ditions as said new or modified plan
may impose as conditions of participa-
ton in lis benefits" -
The agreement, besides specifying
the forms for certificates Of deposits,
etc, says in conclusion: #
cit is hereby mutually agreed by
and between the committee and the de,
posting bondholders as follows;
A. That this agreement shall not
90 into effect unless and until the hold
ers of not less than go per cent of all
Of the bonds issued by the Hilo Rail.
road Company, shall subscribe this
agreement, and deposit their bonds with
the depositary;
How Agreement Terminates
"B. That If the committee or
the owners of two-thirds of all Of
the bonds so deposited shall
determine at any time hereafter that
il is not advisable that this agreement
should continue in force for a longer
time, and of such determination shall
give notice in writing to the other par
ties to this agreement, or if the com
mittee shall not in the case Of the sale
of the property of the Hilo Railroad
Company purchase the same, then anil
in such case the depositary shall re-
turn to each Of the depositing bon,t,
holders the bonds and coupons so de-
posted by him, her, them or it with
the depositary, except coupons surren-
dered on payment of the same, upon
payment by each of the depositing bond
holders of his, her, their or its share
of all Of the costs, charges and expenses
hereinbefore mentioned and shall ae-
count to each depositing bondholder for
all interest collected by 1t in respect
of his, her, their or its bonds (if any);
and upon the return of all of the bonds
and coupons so deposited and the pay
ment of such interest (if any, this
agreement shall cease and determine,
except as to anything lawfully done or
suffered in pursuance thereof;
&C. That all of the powers hereby
reserved by or vested in the depositing
bondholders shall be exercisable by the
holders of two-thirds Of all of the bonds
so deposited;
How Bondholders Become Parties
I'D. That any persons, firms or cor
porations holding bonds of tn g Hilo
Railroad Company of either of the said
two issues by signing this agreement
and depositing his, her, their or its
said bonds with the depository at any
time before the first day of October.
1915, and at any time thereafter with
the consent of the committee may be-
come a party thereto; u....A =
"E. That the words "Depositing
BOndholders" wherever the same are
used in this agreement, shall include
and be binding on and enure to the
benefit of the persons, firms and cor
porations subscribing this agreement,
and also the owners for the time being
Of the bonds deposited by them pursu-
ant to this agreement; and Nhat the
word Committee wherever it is used
in this agreement shall include and be
binding on and euure to the benefit OF
the parties of the first part and all
other person or persons appointed put'
suant to this agreement, TO act with the
parties of the first part or any Of them
or in place of or in succession to them
or any of them, or any person SO ap'
pointed; g. ~..,
"F. That holders of any of the
bonds of the Hilo Railroad Company
may with the consent of the committee
become parties to this agreement at
any time by depositing their bonds and
coupons with the depositary and obtain.
ing the certificate of the depositary