Common use of Mandatory Redemptions of Secured Certificates Clause in Contracts

Mandatory Redemptions of Secured Certificates. (a) On the date on which Lessee is required pursuant to Section 10(a)(i) of the Lease to make payment for an Event of Loss with respect to the Aircraft, all of the Secured Certificates shall be redeemed in whole at a redemption price equal to 100% of the unpaid Principal Amount thereof, together with all accrued interest thereon to the date of redemption and all other amounts payable hereunder or under the Participation Agreement to the Certificate Holders but without Make-Whole Amount. (b) If the Lease is terminated with respect to the Aircraft by Lessee pursuant to Section 9 or Section 19(d) thereof and Lessee shall not have assumed all of the obligations of the Owner Trustee hereunder pursuant to Section 2.13 and to Section 8(x) of the Participation Agreement, on the date the Lease is so terminated all the Secured Certificates shall be redeemed in whole at a redemption price equal to 100% of the unpaid Principal Amount thereof, together with accrued interest thereon to the date of redemption and all other amounts payable hereunder or under the Participation Agreement to the Certificate Holders plus Make-Whole Amount, if any. (c) If the Manufacturer Delivery has not occurred on or prior to the Prepayment Date, all of the Secured Certificates shall be redeemed in whole at a redemption price equal to 100% of the unpaid Principal Amount thereof, together with all accrued interest thereon to the date of redemption and all other amounts payable hereunder or under the Participation Agreement to the Certificate Holders but without Make-Whole Amount, as contemplated by Section 2.19 and Section 18(c) of the Participation Agreement. (d) If (i) the Manufacturer Delivery shall have occurred, (ii) the Delivery Date shall not have occurred on or prior to the Cut-Off Date and (iii) Lessee shall not have assumed the Secured Certificates by the Determination Date, all of the Secured Certificates shall be redeemed in whole at a redemption price equal to 100% of the unpaid Principal Amount thereof, together with all accrued interest thereon to the date of redemption and all other amounts payable hereunder or under the Participation Agreement to the Certificate Holders but without Make-Whole Amount, as contemplated by Section 2.19 and Section 18(d) of the Participation Agreement. (e) If (i) a Triggering Event shall have occurred on or prior to the Prepayment Date, (ii) the Delivery Date shall not have occurred and (iii) Lessee shall not have assumed the Secured Certificates, all of the Secured Certificates shall be redeemed in whole at a redemption price equal to 100% of the unpaid Principal Amount thereof, together with all accrued interest thereon to the date of redemption and all other amounts payable hereunder or under the Participation Agreement to the Certificate Holders but without Make-Whole Amount, as contemplated by Section 2.19 and Section 18(e) of the Participation Agreement. (f) With respect to Series C Secured Certificates only, the Series C Secured Certificates shall be redeemed in part at a redemption price equal to 100% of the unpaid Principal Amount thereof, together with all accrued interest thereon to the date of redemption and all other amounts payable hereunder or under the Participation Agreement to the Certificate Holders but without Make-Whole Amount, as provided in Section 1(c)(ii) of the Participation Agreement.