Delta Airlines 2003 Annual Report Download - page 244

maturity of which has been so accelerated, aggregates to $75 million or more and
such payment default is not cured or such acceleration is not annulled within 30
days after written notice to the Company by the Trustee or to the Company and
the Trustee by Holders of not less than 25% in aggregate principal amount of the
Notes then outstanding; and (f) certain events involving bankruptcy, insolvency
or reorganization of the Company.
If an Event of Default occurs and is continuing, the Trustee, by
written notice to the Company, or the Holders of at least 25% in principal
amount of the then outstanding Notes, by written notice to the Company and the
Trustee, may declare the unpaid principal of, and accrued and unpaid interest
and Liquidated Damages, if any, on all Notes then outstanding to be due and
payable immediately, except that in the case of an Event of Default arising from
certain events of bankruptcy, insolvency, or reorganization with respect to the
Company, all outstanding Notes become due and payable without further action or
notice. Holders may not enforce the Indenture or the Notes except as provided in
the Indenture. The Trustee may require an indemnity satisfactory to it before it
enforces the Indenture or the Notes. Subject to certain limitations, Holders of
at least a majority in principal amount of the then outstanding Notes may direct
the Trustee in its exercise of any trust or power. The Trustee may withhold from
Holders notice of any continuing default (except a default in payment of
principal of, or interest or Liquidated Damages, if any, and the Redemption
Price, Purchase Price or Designated Event Repurchase Price, if applicable) if it
determines that withholding notice is in their interests. The Company must
furnish annual compliance certificates to the Trustee in accordance with the
terms of the Indenture.
11. TRUSTEE DEALINGS WITH THE COMPANY. Subject to Section 7.10 of the
Indenture, the Trustee or any of its Affiliates, in their individual or any
other capacities, may make or continue loans to or guaranteed by, accept
deposits from and perform services for the Company or its Affiliates and may
otherwise deal with the Company or its Affiliates as if it were not Trustee.
12. NO RECOURSE AGAINST OTHERS. No director, officer, employee, stockholder
or Affiliate, as such, of the Company shall have any liability for any
obligations of the Company under the Notes or the Indenture or for any claim
based on, in respect of or by reason of such obligations or their creation. Each
Holder by accepting a Note waives and releases all such liability with respect
to each director, officer, employee, stockholder and Affiliate of the Company.
The waiver and release are part of the consideration for the Notes.
13. AUTHENTICATION. This Note shall not be valid until authenticated by the
manual signature of the Trustee or an authenticating agent.
14. ABBREVIATIONS. Customary abbreviations may be used in the name of a
Holder or an assignee, such as: TEN CO = tenants in common, TEN ENT = tenants by
the entireties, JT TEN = joint tenants with right of survivorship and not as
tenants in common, CUST = Custodian and U/G/M/A = Uniform Gifts to Minors Act.
15. REGISTRATION RIGHTS AGREEMENT. The Holder of this Note is entitled to
the benefits of a Registration Rights Agreement, dated February 6, 2004, between
the Company and the Initial Purchaser (the "Registration Rights Agreement").
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