Delta Airlines 2012 Annual Report Download - page 259

specific instance and for the specific purpose for which made or given. No notice to or demand upon the Pledgors in any
instance hereunder shall entitle the Pledgors to any other or further notice or demand in similar or other circumstances.
Section 15. Termination; Release .
(a) After the Discharge of Priority Lien Obligations, this Agreement shall terminate (provided that all indemnities
set forth herein shall survive) and the Collateral Trustee, at the request and expense of the Pledgors, will promptly execute
and deliver to the Pledgors a proper instrument or instruments acknowledging the satisfaction and termination of this
Agreement, and, subject to the terms of the Collateral Trust Agreement, will duly assign, transfer and deliver to the Pledgors
(without recourse and without any representation or warranty) such of its Collateral as may be in the possession of the
Collateral Trustee and as has not theretofore been sold or otherwise applied or released pursuant to this Agreement. As used
in this Agreement, “ Termination Date ” shall mean the date upon which the Discharge of Priority Lien Obligations shall
have occurred.
(b) In the event that any part of the Collateral is sold, the Liens on such Collateral created by this Agreement shall
be released in accordance with and to the extent contemplated by the terms of the Collateral Trust Agreement.
(c) As to any Collateral, the Liens on such Collateral created by this Agreement shall be released in accordance
with Section 4.1(a) of the Collateral Trust Agreement, including but not limited to Section 4.1(a)(7) of the Collateral Trust
Agreement.
(d) At any time that the Pledgors desire that Collateral be released as provided in the foregoing Section 15(a), (b)
or (c), it shall deliver to the Collateral Trustee a certificate signed by its chief financial officer or another authorized senior
officer stating that the release of the respective Collateral is permitted pursuant to Section 15(a), (b) or (c). If requested by
the Collateral Trustee (although the Collateral Trustee shall have no obligation to make any such request), such Pledgor
shall furnish appropriate legal opinions (from counsel, which may be in-house counsel, acceptable to the Collateral Trustee)
to the effect set forth in the immediately preceding sentence. The Collateral Trustee shall have no liability whatsoever to any
Priority Lien Secured Party as the result of any release of Collateral by it as permitted by this Section 15. In the event of any
release pursuant to this Section 15, the Collateral Trustee shall use commercially reasonable efforts, at such Pledgor's
request and expense, to deliver such documents or other evidence as may be reasonably requested to evidence such release
Section 16. Definitions . The following terms shall have the following meanings. Such definitions shall be equally
applicable to the singular and plural forms of the terms defined. Except as otherwise defined herein, terms used herein and
defined in the Collateral Trust Agreement shall be used herein as therein defined.
“ Agreement ” has the meaning provided in the preamble hereto.
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