Common use of Notice of Certain Redemptions Clause in Contracts

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: (i) the Redemption Date; (ii) the applicable basis for determining the redemption price pursuant to Section 3.02, 3.03 or Section 3.05 (the "Redemption Price"); ---------------- (iii) that on the Redemption Date, the Redemption Price will become due and payable upon each such Secured Note, and that, if any such Secured Notes are then Outstanding, interest on such Secured Notes shall cease to accrue on and after such Redemption Date; (iv) whether the notice of redemption may be revoked and under what circumstances; and (v) the place or places where such Secured Notes are to be surrendered for payment of the Redemption Price.

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: (i) the Redemption Date; (ii) the applicable basis for determining the redemption price pursuant to Section 3.02, 3.03 or Section 3.05 (the "Redemption Price"); ---------------- (iii) that on the Redemption Date, the Redemption Price will become due and payable upon each such Secured Note, and that, if any such Secured Notes are then Outstanding, interest on such Secured Notes shall cease to accrue on and after such Redemption Date; (iv) whether the notice of redemption may be revoked and under what circumstances; and (v) the place or places where such Secured Notes are to be surrendered for payment of the Redemption Price.

Notice of Certain Redemptions. In connection with a ----------------------------- redemption of any of the Secured Notes pursuant to Section 3.02, Section 3.03 3.02 or Section 3.05, the Owner Trust Grantor Trustee shall give irrevocable (except with respect to redemption notices given pursuant to Section 3.02(b) which may be withdrawn) 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:state (including the CUSIP or CINS number, if any): (i) the Redemption Date (which shall be a Stipulated Loss Value Determination Date; (ii) the applicable basis for determining the redemption price pursuant to Section 3.02, 3.03 3.02 or Section 3.05 (the "Redemption Price"); ----------------; (iii) that on the Redemption Date, the Redemption Price will become due and payable upon each such Secured Note, and that, if any such Secured Notes are then Outstanding, interest on such Secured Notes shall cease to accrue on and after such Redemption Date; (iv) whether the notice of redemption may be revoked and under what circumstances; and (viv) the place or places where such Secured Notes are to be surrendered for payment of the Redemption Price.

Notice of Certain Redemptions. In connection with a ----------------------------- redemption of any of the Secured Notes pursuant to Section 3.02, Section 3.03 3.02 or Section 3.05, the Owner Trust Trustee shall give irrevocable (except with respect to redemption notices given pursuant to Section 3.02(a), Section 3.02(b), Section 3.02(c) (to the extent, in the case of Section 3.02(c), such redemption notice relates to the Lessee's election to exercise a purchase option under Section 6.1(e) or 7.3 of the Lease) or Section 3.05, which may be withdrawn, (a) in the case of such a redemption notice given pursuant to 3.02 (a) following the occurrence of an Event of Loss with respect to the Facility Assets, if the Lessee has elected (or shall be deemed to have elected) the option set forth in Section 12.2(b) of the Lease with respect to such Event of Loss, (b) in the case of such a redemption notice given pursuant to Section 3.02(b) or 3.02(c), if the Lease is not terminated with respect to the Facility Assets, and (c) in the case of such a redemption notice given pursuant to Section 3.05, not less than three Business Days prior to the Redemption Date) 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: (i) the Redemption Date; (ii) the applicable basis for determining the redemption price pursuant to Section 3.02, 3.03 3.02 or Section 3.05 (the "Redemption Price"); ---------------- (iii) that on the Redemption Date, the Redemption Price will become due and payable upon each such Secured Note, and that, if any such Secured Notes are then Outstanding, interest on such Secured Notes shall cease to accrue on and after such Redemption Date; (iv) whether the notice of redemption may be revoked and under what circumstances; and (viv) the place or places where such Secured Notes are to be surrendered for payment of the Redemption Price.

Notice of Certain Redemptions. In connection with a ----------------------------- redemption of any of the Secured Notes pursuant to Section 3.02, Section 3.03 3.02 or Section 3.05, the Owner Trust Trustee shall give irrevocable (except with respect to redemption notices given pursuant to Section 3.02(a), Section 3.02(b), Section 3.02(c) (to the extent, in the case of Section 3.02(c), such redemption notice relates to the Charterer's election to exercise a purchase option under Section 15(a)(iv) or 12(d) of the Charter) or Section 3.05, which may be withdrawn, (a) in the case of such a redemption notice given pursuant to 3.02 (a) following the occurrence of an Event of Loss with respect to the Vessel, if the Charterer has elected (or shall be deemed to have elected) the option set forth in Section 11(b)(ii) of the Charter with respect to such Event of Loss, (b) in the case of such a redemption notice given pursuant to Section 3.02(b) or 3.02(c), if the Charter is not terminated with respect to the Vessel, and (c) in the case of such a redemption notice given pursuant to Section 3.05, not less than three Business Days prior to the Redemption Date) 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: (i) the Redemption Date; (ii) the applicable basis for determining the redemption price pursuant to Section 3.02, 3.03 3.02 or Section 3.05 (the "Redemption Price"); ---------------- (iii) that on the Redemption Date, the Redemption Price will become due and payable upon each such Secured Note, and that, if any such Secured Notes are then Outstanding, interest on such Secured Notes shall cease to accrue on and after such Redemption Date; (iv) whether the notice of redemption may be revoked and under what circumstances; and (viv) the place or places where such Secured Notes are to be surrendered for payment of the Redemption Price.