Delta Airlines 2003 Annual Report Download - page 183

may affect the Company's obligation to pay the Notes; and the Company (to the
extent that it may lawfully do so) hereby expressly waives all benefit or
advantage of any such law insofar as such law applies to the Notes, and
covenants that it shall not, by resort to any such law, hinder, delay or impede
the execution of any power herein granted to the Trustee, but will suffer and
permit the execution of every such power as though no such law has been enacted.
SECTION 3.08 Taxes.
The Company shall, and shall cause each of its subsidiaries to, pay
prior to delinquency all taxes, assessments and government levies; provided,
however, that the Company shall not be required to pay or cause to be paid any
such tax, assessment or levy (a) if the failure to do so will not, in the
aggregate, have a material adverse impact on the Company and its subsidiaries
taken as a whole, or (b) if the amount, applicability or validity is being
contested in good faith by appropriate proceedings.
SECTION 3.09 Investment Company Act.
As long as any Notes are outstanding, the Company will conduct its
business and operations so as not to become an "investment company" within the
meaning of the Investment Company Act of 1940, as amended (the "Investment
Company Act"), and will take all steps required in order for it to continue not
to be an "investment company" and not to be required to be registered under the
Investment Company Act, including, if necessary, redeployment of the assets of
the Company.
ARTICLE 4
REDEMPTION AND PURCHASE
SECTION 4.01 Right to Redeem; Notices to Trustee.
(a) The Company, at its option, may redeem all or a portion of the
Notes on or after February 21, 2009 at a redemption price in cash ("Redemption
Price") equal to 100% of the principal amount thereof, plus any accrued and
unpaid interest to, but excluding, the Redemption Date.
(b) If the Company elects to redeem Notes pursuant to the terms of the
Notes and this Indenture, it shall notify the Trustee in writing of the
Redemption Date, the principal amount of Notes to be redeemed and the Redemption
Price payable on the Redemption Date. The Company shall deliver to the Trustee
the notice of redemption provided for in this Section 4.01 by means of a written
request or order signed in the name of the Company by any two Officers at least
45 days before the Redemption Date (unless a shorter notice shall be
satisfactory to the Trustee).
SECTION 4.02 Selection of Notes to Be Redeemed.
(a) If less than all the Notes are to be redeemed, the Trustee shall
select the Notes to be redeemed pro rata or by lot or by any other method the
Trustee considers fair and appropriate (so long as such method is not prohibited
by the rules of any stock exchange on which the Notes are
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