Page:Federal Reporter, 1st Series, Volume 10.djvu/436

 421 FEDERAL REPORTER. �sion of the properties, and all moneys thereafter acquired by it from the oper- ation o£ them, after the payment of operating expenses, and of all lawful taxes and assessments against either of the parties or its property, and before paying the sums mentioned in clause 3, shall pay: (1) io the New York all suius of money due and owing to it, under the ternis of the lease from it, on the flrst of July, 1881. (2) To the Metropolitan in the same manner, and ont of Siiid moneys, the interest due on its bonds, as provided in the lease from it, from thefirstof January, 1881. �Third. After making the payments provided for by clause 2, all moneys received by the Manhattan from the operation of the properties shall be used by the Manhattan: (1) Por the payment of operating expenses and main- tenance of structures and equipment. (2) For the payment of all taxes and assessments lawfully imposed upon either of the parties, or its properties, or the income therefrom. (3) For the payment of the interest on the bonds of the New York and Metropolitan. (4) For the payment to each of them of the rental of $10,000 per annum, as set forth in the leases. (5) ihe Manhat- tan shall pay to the New York annually, during the continuance of the leases, a sum of money equal to 6 per cent, per annum on the amount of the present capital stock, to-wit, $6,500,000 of the New York, in equal quarterly payments of $97,500, on the flrst days of January, April, July, and October; the flrst to be made January 1, 1882. (6) The Manhattan shall pay to the Metropolitan annually, during the continuance of the leases, a sum of money equal to 6 per cent, per annum on the amount of the capital stock of the Metropolitan, in equal quarter-yearly payments, on the flrst days of January, April, .Tuly, and October; the flrst to be made January 1, 1882. (7) The several payments enumerated in the foregoing six subdivisions of clause 3 shall be made, and shall have preference over one another, in the order so enumerated, and all moneys received by the Manhattan from the operation of the properties, after making said payments, shall bethe property of the Manhattan, and shall be retained by it for its own use and beneflt, subject to the covenants " herein " contained, and to unraodifled covenants of the leases. (8) The sums pro- vided to be paid by subdivisions 5 and 6 of clause 3 shall only be payable out of the moneys received by the Manhattan from the operation of the proper- ties prior to the dates respectively at which said payments by the terms of the agreement become due. �Fourth. The provisions of the tripartite agreement and the leases are mod- ifled so as to conform to "the provisions of this agreement," and the New York and the Metropolitan release the Manhattan from all agreements to pay to the New York and the Metropolitan, or either of them, "the sum or sums of money as is particularly provided in " article 14 of the tripartite agreement and article 2 of the leases. �There is also a clause whereby each of the parties releases the others, and each of them, "of and from all and all manner of action and actions, cause and causes of action, suits, debts, dues, sums of money, claims, and demanda whatever, whether in law or in equity, against either of the other parties hereto, except such as are em- ��� �