Event of Loss; Optional Redemption. Except as otherwise provided in Sections 3.03 and 3.04 and subject to the following proviso, any payments received by the Loan Trustee with respect to the Aircraft as the result of (a) an Event of Loss (including amounts paid by the Company pursuant to Section 2.10) or (b) an optional redemption of the Equipment Notes pursuant to Section 2.11 shall be applied to redemption of the Equipment Notes pursuant to Section 2.10 or Section 2.11, as applicable, and to payment of all other Secured Obligations by applying such funds in the following order of priority:
Appears in 3 contracts
Samples: Indenture and Security Agreement (Delta Air Lines Inc /De/), Indenture and Security Agreement (American Airlines Inc), Indenture and Security Agreement (Delta Air Lines Inc /De/)
Event of Loss; Optional Redemption. Except as otherwise provided in Sections 3.03 3.03, 3.04 and 3.04 3.05 and subject to the following proviso, any payments received by the Loan Trustee with respect to the Aircraft as the result of (a) an Event of Loss (including amounts paid by the Company pursuant to Section 2.10) or (b) an optional redemption of all of the Equipment Notes pursuant to Section 2.11 2.11(a) shall be applied to redemption of the Equipment Notes pursuant to Section 2.10 or Section 2.112.11(a), as applicable, and to payment of all other Secured Obligations by applying such funds in the following order of priority:
Appears in 2 contracts
Samples: Indenture and Security Agreement (American Airlines Inc), Indenture and Security Agreement (American Airlines Inc)
