Notice of Certain Redemptions. In connection with a ----------------------------- redemption of any of the Secured Notes pursuant to Section 3.02, Section 3.03 or Section 3.05, the Owner Trust shall give irrevocable notice of such redemption at least 25 days and not more than 60 days prior to the Redemption Date to each Loan Participant of such Secured Notes to be redeemed, at such Loan Participant's address appearing in the Note Register; provided, however, that if such notice of redemption shall be given in connection with the early termination of the Charter and the proposed sale of the Vessel pursuant to Article 18 of the Charter, and if the Owner Trust does not sell the Vessel on or prior to the Redemption Date, then such notice of redemption may be revoked by the Owner Trust. Any such notice of redemption shall state:
Appears in 4 contracts
Samples: Lease and Security Agreement (Mobil Corp), Lease, and Security Agreement (Mobil Corp), Lease and Security Agreement (Mobil Corp)
Notice of Certain Redemptions. In connection with a ----------------------------- redemption of any of the Secured Notes pursuant to Section 3.02, Section 3.03 or Section 3.05, the Owner Trust shall give irrevocable notice (except as provided herein) of such redemption at least 25 days and not more than 60 days prior to the Redemption Date to each Loan Participant of such Secured Notes to be redeemed, at such Loan Participant's address appearing in the Note Register; provided, however, that if such notice of redemption shall be given in connection with the early termination of the Charter and the proposed sale of the Vessel Interest pursuant to Article 18 of the Charter, and if the Owner Trust does not sell the Vessel Interest on or prior to the Redemption Date, then such notice of redemption may be revoked by the Owner Trust. Any such notice of redemption shall state:
Appears in 2 contracts
Samples: Lease and Security Agreement (Mobil Corp), Lease and Security Agreement (Mobil Corp)
