Delta Airlines 2003 Annual Report Download - page 185

(x) that all rights of the Holder will terminate on and
after the Redemption Date (other than the right to receive the
Redemption Price upon delivery or transfer of the Notes called for
redemption).
(b) At the Company's request, the Trustee shall give the notice of
redemption in the Company's name and at the Company's expense, provided that the
Company makes such request at least five business days (unless a shorter period
shall be satisfactory to the Trustee) prior to the date such notice of
redemption must be mailed.
SECTION 4.04 Effect of Notice of Redemption.
Once notice of redemption is given, Notes called for redemption become
due and payable on the Redemption Date and at the Redemption Price stated in the
notice of redemption, except for Notes which are converted in accordance with
the terms of this Indenture. Upon surrender to the Paying Agent, such Notes
shall be paid at the Redemption Price stated in the notice of redemption.
SECTION 4.05 Deposit of Redemption Price.
(a) Prior to 10:00 a.m. (New York City time) on the Redemption
Date, the Company shall deposit with the Paying Agent (or if the Company or a
subsidiary or an Affiliate of either of them is the Paying Agent, shall
segregate and hold in trust) money sufficient to pay the Redemption Price for
all Notes to be redeemed on that date other than Notes or portions of Notes
called for redemption which on or prior thereto have been delivered by the
Company to the Trustee for cancellation or have been converted. The Paying Agent
shall as promptly as practicable return to the Company any money not required
for that purpose because of conversion of Notes pursuant to Articles 11 and 12.
If such money is then held by the Company or its subsidiary or an Affiliate of
either of them, as Paying Agent, in trust and is not required for such purpose
it shall be discharged from such trust.
(b) If as of 10:00 a.m. (New York City time) on any Redemption
Date the Paying Agent holds money sufficient to pay in full the Redemption Price
for all Notes to be redeemed on such Redemption Date, other than Notes or
portions of Notes called for redemption which on or prior thereto have been
delivered by the Company to the Trustee for cancellation or have been converted,
the Notes will cease to be outstanding immediately following the close of
business on the Redemption Date and interest and Liquidated Damages, if any, on
the Notes so purchased will cease to accrue on and after such Redemption Date.
In such event, all rights of the Holder will terminate, other than the right to
receive the Redemption Price upon delivery or transfer of the Notes to be so
purchased.
SECTION 4.06 Notes Redeemed in Part.
Upon surrender of a Note that is redeemed in part, the Company shall
execute and the Trustee shall authenticate and deliver to the Holder a new Note
in an authorized denomination equal in principal amount to the unredeemed
portion of the Notes surrendered.
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