Common use of Redemption of Equipment Notes upon Certain Events Clause in Contracts

Redemption of Equipment Notes upon Certain Events. (a) If there shall be an Event of Loss to the Aircraft or Airframe and the Aircraft or Airframe is not replaced pursuant to Section 10(a)(ii) of the Lease, each outstanding Equipment Note shall be redeemed in whole at a redemption price equal to 100% of the outstanding principal amount of such Equipment Note, the Break Amount, if any, together with accrued and unpaid interest thereon to but excluding the applicable Redemption Date. No Make-Whole Amount shall be payable in connection with a redemption under this Section 6.01(a). (b) If (i) the Lease shall be terminated by the Lessee at its option pursuant to Section 9(b) of the Lease or upon the purchase of the Aircraft by the Lessee at its option on a Special Purchase Option Date or the EBO Date pursuant to Section 19(b) of the Lease (unless the Lessee shall have elected to assume the rights and obligations of the Owner Trustee hereunder to the extent and as provided for in Section 8(r) of the Participation Agreement) or (ii) the Owner Trustee or the Owner Participant shall have given notice of redemption or purchase to the Indenture Trustee pursuant to Section 8.03(e)(ii), each outstanding Equipment Note shall be redeemed or purchased in whole on the Redemption Date and at the Redemption Price determined pursuant to Section 6.02 below. The Redemption Date for Equipment Notes to be redeemed or purchased (X) pursuant to clause (i) of this Section 6.01(b) shall be (A) in the case of a termination of the Lease pursuant to Section 9(b) thereof, the third Business Day following the Lease Termination Date, if any, or, in the case of purchase of the Aircraft by the Lessee pursuant to Section 19(b) of the Lease, the applicable Special Purchase Option Date or EBO Date and (Y) pursuant to clause (ii) of this Section 6.01(b), shall be the date specified in the notice given by the Owner Trustee or the Owner Participant to the Indenture Trustee pursuant to Section 8.03(e)(ii). If the Owner Trustee elects to purchase the Equipment Notes under Section 8.03(e)(ii), nothing herein, including use of the terms "Redemption Date" and "Redemption Price" shall be deemed to result in a redemption of the Equipment Notes. (c) All the outstanding Equipment Notes may be redeemed if the Lessee shall have requested the Owner Trustee and the Owner Participant to effect a redemption thereof pursuant to Section 17 of the Participation Agreement as part of a refunding or refinancing, and if all the conditions to such refunding or refinancing set forth in such Section 17 of the Participation Agreement shall have been satisfied. In such event, each outstanding Equipment Note may be so redeemed at a Redemption Price specified in Section 6.02; provided, however, that the applicable Redemption Date for Equipment Notes to be redeemed pursuant to this Section 6.01(c) shall be the applicable Refinancing Date under Section 17 of the Participation Agreement.

Redemption of Equipment Notes upon Certain Events. (a) If there shall be an Event of Loss to the Aircraft or Airframe and the Aircraft or Airframe is not replaced pursuant to Section 10(a)(ii) of the Lease, each outstanding Equipment Note shall be redeemed in whole at a redemption price equal to 100% of the outstanding principal amount of such Equipment Note, the Break Amount, if any, together with accrued and unpaid interest thereon to but excluding the applicable Redemption Date. No Make-Whole Amount or premium shall be payable in connection with a redemption under this Section 6.01(a). (b) If (i) the Lease shall be terminated by the Lessee at its option pursuant to Section 9(a) or 9(b) of the Lease or upon the purchase of the Aircraft by the Lessee at its option on a Special Purchase Option Date or the EBO Date pursuant to Section 19(b) of the Lease (unless the Lessee shall have elected to assume the rights and obligations of the Owner Trustee hereunder to the extent and as provided for in Section 8(r9(b) of the Participation AgreementLease) or (ii) the Owner Trustee or the Owner Participant shall have given notice of redemption or purchase to the Indenture Trustee pursuant to Section 8.03(e)(ii), each outstanding Equipment Note shall be redeemed or purchased in whole on the Redemption Date and at the Redemption Price determined pursuant to Section 6.02 below. The Redemption Date for Equipment Notes to be redeemed or purchased (X) pursuant to clause (i) of this Section 6.01(b) shall be (A) in the case of a termination of the Lease pursuant to Section 9(a) or 9(b) thereof, the third Business Day following the Lease Termination Date, if any, or, in the case of purchase of the Aircraft by the Lessee pursuant to Section 19(b) of the Lease, the applicable Special Purchase Option Date or EBO Date and (Y) pursuant to clause (ii) of this Section 6.01(b), shall be the date specified in the notice given by the Owner Trustee or the Owner Participant to the Indenture Trustee pursuant to Section 8.03(e)(ii). If the Owner Trustee [First Amended and Restated Trust Indenture and Security Agreement (1989 I)] elects to purchase the Equipment Notes under Section 8.03(e)(ii), nothing herein, including use of the terms "Redemption Date" and "Redemption Price" shall be deemed to result in a redemption of the Equipment Notes. (c) All the outstanding Equipment Notes may be redeemed if the Lessee shall have requested the Owner Trustee and the Owner Participant to effect a redemption thereof pursuant to Section 17 of the Participation Agreement as part of a refunding or refinancing, and if all the conditions to such refunding or refinancing set forth in such Section 17 of the Participation Agreement shall have been satisfied. In such event, each outstanding Equipment Note may be so redeemed at a Redemption Price specified in Section 6.02; provided, however, that the applicable Redemption Date for Equipment Notes to be redeemed pursuant to this Section 6.01(c) shall be the applicable Refinancing Date under Section 17 of the Participation Agreement.