Delta Airlines 2003 Annual Report Download - page 180

disposition to the Company. The Company may not issue new Notes to replace Notes
that it has paid or repurchased or that have been delivered to the Trustee for
cancellation or that any Holder has (i) converted pursuant to Articles 11 and 12
hereof or (ii) submitted for repurchase pursuant to Article 4 hereof (unless
such submission is withdrawn in accordance with the terms of this Indenture).
SECTION 2.12 Defaulted Interest.
(a) If the Company fails to make a payment of interest on the Notes, it
shall pay such defaulted interest plus, to the extent lawful, any interest
payable on the defaulted interest. It may pay such defaulted interest, plus any
such interest payable on it, to the persons who are Holders on a subsequent
special record date. The Company shall fix any such record date.
(b) The Company may elect to make payment of any defaulted interest to
the persons in whose names the Notes are registered at the close of business on
a special record date for the payment of such defaulted interest, which shall be
fixed in the following manner. The Company shall notify the Trustee in writing
of the amount of defaulted interest proposed to be paid on each Note and the
date of the proposed payment (which shall not be less than 20 days after such
notice is received by the Trustee), and at the same time the Company shall
deposit with the Trustee an amount of money equal to the aggregate amount
proposed to be paid in respect of such defaulted interest or shall make
arrangements satisfactory to the Trustee for such deposit on or prior to the
date of the proposed payment, such money when deposited to be held in trust for
the benefit of the persons entitled to such defaulted interest as in this clause
provided. Thereupon the Trustee shall fix a special record date for the payment
of such defaulted interest which shall be not more than 15 days and not less
than 10 days prior to the date of the proposed payment and not less than 10 days
after the receipt by the Trustee of the notice of the proposed payment (the
"Special Record Date"). The Trustee shall promptly notify the Company of such
Special Record Date and, in the name and at the expense of the Company, shall
cause notice of the proposed payment of such defaulted interest and the Special
Record Date therefor to be mailed, first-class postage prepaid, to each Holder
of Notes at his address as it appears on the list of Securityholders maintained
pursuant to Section 2.05 not less than 10 days prior to such Special Record
Date. Notice of the proposed payment of such defaulted interest and the Special
Record Date therefor having been mailed as aforesaid, such defaulted interest
shall be paid to the persons in whose names the Notes are registered at the
close of business on such Special Record Date and shall no longer be payable
pursuant to the following paragraph (c).
(c) The Company may make payment of any defaulted interest on the Notes
in any other lawful manner not inconsistent with the requirements of any
securities exchange on which such Notes may be listed, and upon such notice as
may be required by such exchange, if, after notice given by the Company to the
Trustee of the proposed payment pursuant to this clause, such manner of payment
shall be deemed practicable by the Trustee.
SECTION 2.13 CUSIP Number.
The Company in issuing the Notes may use a "CUSIP" number and, if so,
such CUSIP number shall be included in notices of repurchase or exchange as a
convenience to Holders; provided, however, that any such notice may state that
no representation is made as to the
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