Delta Airlines 2003 Annual Report Download - page 245

In accordance with the terms of the Registration Rights Agreement,
during any period in which a Registration Default (as defined in the
Registration Rights Agreement) has occurred and is continuing, the Company will
pay Liquidated Damages in an amount equal .25% (or 25 basis points) per annum
per $1,000 principal amount of notes or $2.50 per annum per 73.6106 shares of
Common Stock (subject to adjustment from time to time in the event of a stock
split, stock recombination, stock dividend and similar events) constituting
Transfer Restricted Securities (as defined in the Registration Rights
Agreement), in accordance with the terms of the Registration Rights Agreement.
Liquidated Damages in respect of the Notes, if any, will be payable in
cash semiannually, in arrears, on each Interest Payment Date to the person in
whose name each Note is registered at the close of business on the Regular
Record Date immediately preceding the relevant Interest Payment Date, and will
cease to accrue on the date the Registration Default is cured. The above
description of certain provisions of the Registration Rights Agreement is
qualified by reference to, and is subject in its entirety to, the more complete
description thereof contained in the Registration Rights Agreement.
The Company will furnish to any Holder upon written request and without
charge a copy of the Indenture and the Registration Rights Agreement. Requests
may be made to: Delta Air Lines, Inc., P.O. Box 20706, Atlanta, Georgia 30320,
Attention: Investor Relations, Department No. 829, Telephone No.: (404)
715-2600.
16. SINKING FUND. The Notes do not have the benefit of any sinking fund
obligations.
A-13