Delta Airlines 2003 Annual Report Download - page 237

(Back of Security)
DELTA AIR LINES, INC.
2 7/8% CONVERTIBLE SENIOR NOTES DUE 2024
1. INTEREST. Delta Air Lines, Inc., a Delaware corporation (the
"Company"), promises to pay interest on the principal amount of this Note at the
rate per annum shown above. The Company will pay interest (and Liquidated
Damages, if any) semiannually in arrears on February 18 and August 18 of each
year, beginning August 18, 2004. Interest on the Notes will accrue from the most
recent Interest Payment Date to which interest has been paid or, if no interest
has been paid, from February 6, 2004. Interest (and any Liquidated Damages) will
be computed on the basis of a 360-day year composed of twelve 30-day months.
2. METHOD OF PAYMENT. The Company will pay interest (and Liquidated
Damages, if any) on the Notes (except defaulted interest) to the person in whose
name each Note is registered at the close of business on the February 3 or
August 3 (each, a "Regular Record Date") immediately preceding the relevant
Interest Payment Date (other than with respect to a Note or portion thereof (i)
with respect to which a notice of redemption shall have been mailed by the
Company in accordance with Section 4.03 of the Indenture, which notice of
redemption shall specify a Redemption Date that is after the close of business
on a Regular Record Date and prior to the next Interest Payment Date, or (ii)
repurchased in connection with a Designated Event on a Designated Event
Repurchase Date that is after the close of business on a Regular Record Date and
prior to the next Interest Payment Date, in which case accrued interest (and
Liquidated Damages, if any) shall be payable (unless such Note or portion
thereof is converted) to the Holder of the Note or portion thereof redeemed or
repurchased in accordance with the applicable provisions of the Indenture).
The Holder must surrender Notes to a Paying Agent to collect principal
payments. The Company will pay the principal and interest (including Liquidated
Damages, if any, and Redemption Price, Purchase Price and Designated Event
Repurchase Price, as applicable) on the Notes at the office or agency of the
Company maintained for such purpose, in money of the United States that at the
time of payment is legal tender for payment of public and private debts. Until
otherwise designated by the Company, the Company's office or agency maintained
for such purpose will be the principal Corporate Trust Office of the Trustee. If
the Notes are held in global form, principal and interest (including Liquidated
Damages, if any, Redemption Price, Purchase Price and Designated Event
Repurchase Price, as applicable) on the Notes shall be paid by wire transfer in
immediately available funds in accordance with the written wire transfer
instruction supplied by such Holder from time to time to the Trustee and Paying
Agent (if different from the Trustee) at least two days prior to the applicable
Regular Record Date; provided that any payment to the Depositary or its nominee
shall be paid by wire transfer in immediately available funds in accordance with
the wire transfer instruction supplied by the Depositary or its nominee from
time to time to the Trustee and Paying Agent (if different from Trustee) at
least two days prior to the applicable Regular Record Date. With respect to
Notes held other than in global form, the Company will make payments by wire
transfer of immediately available funds to the account specified by the Holders
thereof or, if no such account is specified with respect to a Holder, by mailing
a check to the Holder's registered address.
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