Res 1983-028 - Laserfiche WebLink

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assets on the books of the User; provided, however, that if within the above mentioned time period, the aggregate amount of Consolidated Funded Indebtedness is increased above the amount outstanding on January 31, 1983 (less any subsequent scheduled repayments), then an amount corresponding to the aggregate increase or increases in Consolidated Funded Indebt- edness shall be subtracted from $Sl,OOO,OOO, and the resulting amount shall be included in Consolidated Current Assets. Upon the sale of any asset listed below, the stipulated value of the asset sold shall be subtracted from the amount calculated in the preceding sentence. 19S' Towing Supply Vessel S 5,500,000 19S' Towing Supply Vessel 5,SOO,000 Drill barge fFS 12,000,000 150' Jack-Up Rig 28,000,000 "Investments" in any person include all investments, computed in accordance with generally accepted accounting principles (other than Investments in (x) marketable obligations issued or guaranteed by the United States of America or any instru- mentality or agency thereof maturing not more than one year after the date of acquisition thereof, (y) certificates of deposit, bankers t acceptances other obligations maturing or not more than one year after the date of acquisition thereof issued by any bank or trust company incorporated under the laws of the United States of America or a state thereof or Canada or a province thereof and having capital, surplus and undivided profits of at least 550,000,000 and (z) marketable obligations issued by any State of the United States of America or by any political subdivision or pub lic instru- mentality of any such state, and open market commercial paper, in each case with a maturity not in excess of 270 days from the date of acquisition thereof and which, on the date of computation of such Investments, has one of the two highest credit ratings by either Standard & Poor's Corporation or ~100dy 's Investors Service, Inc.); provided, however, that in computing any Investment in any person there shall be disregarded any undistributed earnings of, and interest accrued in respect of indebtedness owing by, such person, any amounts received as earnings (in the form of dividends or interest or otherwise) on the investment in, or as a loan from, such person and any increases or decreases in the book value of investments in such person except to the extent that any loss realized on the investment has been charged against Consolidated Net Earnings; and provided, further, that in computing any Investment in any person there shall be included all notes and accounts receivable from such person which are not Current Assets or did not arise from sales or services to such person as a customer in the ordinary course of business, in the case of any transfers of property or renditions of -4-