Optional Redemptions. If the Shipowner shall elect to make any such optional redemptions pursuant to this Article, the Shipowner shall, at least 40 days but not more than 60 days prior to the date fixed for redemption, deliver to the Indenture Trustee
(1) a Request stating that the Shipowner intends to exercise its rights as above set forth to make such optional redemptions and specifying the Redemption Date and the principal amount which the Shipowner intends to redeem on such date, and (2) at least 35 days prior to the date fixed for redemption in the case of the Fixed Rate Notes, deliver to the Indenture Trustee an amount equal to the Make Whole Premium estimated by the Indenture Trustee, based on information received from the Holder or a calculation agent, to be paid on the Redemption Date. The Indenture Trustee, based on information received from the Holder or a calculation agent, shall give an estimate of the Make Whole Premium to the Shipowner within two (2) Business Days of the delivery of the Shipowner's Request. In the event the amount of the Make Whole Premium deposited by the Shipowner with the Indenture Trustee pursuant to this section (and interest, if any, accrued thereon, less any losses incurred on the investment thereof) is insufficient to pay the amount of the Make Whole Premium, the Shipowner shall pay the amount of the shortfall to the Indenture Trustee in immediately available funds upon one (1) day's notice. In the event the amount of the Make Whole Premium deposited by the Shipowner pursuant to this section (and interest, if any, accrued thereon, less any losses incurred on the investment thereof) exceeds the Make Whole Premium, the excess amount shall be refunded to the Shipowner by the Indenture Trustee in immediately available funds on the Redemption Date.
Optional Redemptions. Subject to the provisions of Section 3.12 hereof, the Issuer may elect to redeem any subclass of Notes in a Redemption in whole or in part at the Redemption Price (after giving effect to any payment thereof on such Redemption Date under Section 3.09 hereof) on the Notes to be redeemed upon the payment of the Redemption Price; provided, however, no Redemption Premium is payable with any Optional Redemption (i) utilizing the proceeds of the issuance of Refinancing Notes for a Refinancing of such subclass of Notes on any Payment Date after the fifth anniversary of the Initial Closing Date (each, a “Refinancing Date”), (ii) while a Rapid Amortization Event has occurred and is continuing, (iii) in connection with the Total Loss of an Aircraft, or (iv) in connection with any Aircraft Disposition that occurs after the second anniversary of the Initial Closing Date and prior to the fifth anniversary of the Initial Closing Date so long as the aggregate amount of all such Redemptions prior to the fifth anniversary of the Initial Closing Date does not exceed 25% of the aggregate initial Outstanding Principal Balance of the Notes (it being understood that in connection with any Redemption that is subject to a Redemption Premium pursuant to this clause (iv), Redemption Premium shall only be payable on the portion of the Outstanding Principal Balance of the Notes being so redeemed that exceeds such 25% threshold), in each case provided that after the giving of a Default Notice or the Acceleration of any Note, the Notes may be redeemed only in whole but not in part pursuant to this Section 3.11 and that such Refinancing or Optional Redemption shall be effected as provided in Section 3.12. No optional prepayments of any subclass of Notes shall be permitted except any Refinancing or Optional Redemption in accordance with this Section 3.11(a), provided that prepayments of such subclass of Notes shall be required in connection with Aircraft Dispositions as provided herein, as well as in the circumstances described in this Section 3.11.
Optional Redemptions. In addition to the redemptions of the Notes required under Sections 2.06(a) and (b), the Company may, at any time and from time to time, redeem, without premium or penalty, the Notes, in whole or in part (in integral multiples of $1,000), together with interest due on the amount so redeemed through the date of redemption. Partial redemptions made as provided in this Section 2.06(c) shall, to the extent thereof, be applied first to reduce the principal due at maturity of the Notes and next to reduce the payments required by Section 2.06(a) in inverse order of maturity thereof.
Optional Redemptions. If permitted under the related Series Supplement and if no Event of Default then exists, the Issuer will have the option to prepay, in whole or part, the Outstanding Principal Balance of any Class of the applicable Series of Equipment Notes in an Optional Redemption; provided that:
(a) any Optional Redemption in whole of the Class B Equipment Notes within a Series shall be subject to an Optional Redemption in whole of the Class A Equipment Notes within such Series, and any Optional Redemption in whole of the Class C Equipment Notes within a Series shall be subject to an Optional Redemption in whole of the Class A Equipment Notes and Class B Equipment Notes within such Series;
(b) subject to subsection (c) below, (i) an Optional Redemption in part of the Class B Equipment Notes within a Series shall be subject to an Optional Redemption in part of the Class A Equipment Notes within such Series in the same proportion as the Optional Redemption in part of the Class B Equipment Notes, in each case, based on the ratio of (x) the Outstanding Principal Balance of the Equipment Notes in such Class within such Series subject to such Optional Redemption to (y) the Outstanding Principal Balance of the Equipment Notes in such Class within such Series and (ii) an Optional Redemption in part of the Class C Equipment Notes within a Series shall be subject to an Optional Redemption in part of the Class A Equipment Notes and Class B Equipment Notes within such Series in the same proportion as the Optional Redemption in part of the Class C Equipment Notes, in each case, based on the ratio of (x) the Outstanding Principal Balance of the Equipment Notes in such Class within such Series subject to such Optional Redemption to (y) the Outstanding Principal Balance of the Equipment Notes in such Class within such Series;
(c) if an Early Amortization Event is then continuing, the Issuer (x) shall not be permitted to prepay any Class C Equipment Notes until the Outstanding Principal Balance of all Class A Equipment Notes and Class B Equipment Notes shall have been paid in full, (y) shall not be permitted to prepay any Class B Equipment Notes until the Outstanding Principal Balance of all Class A Equipment Notes shall have been paid in full and (z) shall not be permitted to prepay any Class A Equipment Notes of any Series until the Outstanding Principal Balance of all Class A Equipment Notes in all earlier issued Series shall have been paid in full; and
(d) if an Event of Default the...
Optional Redemptions. Prior to the Maturity Date, the Company at its option shall have the right, but not the obligation, to redeem early a portion or all amounts outstanding under this Note, from time to time, by either making a Cash Repayment (as defined below) in accordance with Section 1(c)(i), or an Advance Redemption (as defined below) in accordance with Section 1(c)(ii).
Optional Redemptions. The Company will not permit an optional redemption or purchase for purposes of cancellation of the Bonds; provided, however, that if the Company has deposited with the Bank or the Trustee an amount equal to the principal amount of the Bonds to be redeemed, the Bank shall consent to such optional redemption to the extent of such amounts.
Optional Redemptions. In addition to the redemption of the Notes required under sub-section 2.5.1, the Borrower may, subject to the subordination provisions contained in Section 2.14 hereof and the restrictions contained in the Senior Credit Agreement, at any time voluntarily redeem the Notes, in whole or in part (in integral multiples of Five Hundred Thousand Dollars ($500,000)), together with all accrued and unpaid interest on the amount so redeemed through the date of redemption, at a redemption price equal to:
(a) if such voluntary redemption occurs on or prior to the first (1st) anniversary of this Agreement, one hundred six percent (106%) of the sum of the principal amount to be redeemed plus any accrued but unpaid interest thereon;
(b) if such voluntary redemption occurs after the first (1st) anniversary of this Agreement but on or prior to the second (2nd) anniversary of this Agreement, one hundred five percent (105%) of the sum of the principal amount to be redeemed plus any accrued but unpaid interest thereon;
(c) if such voluntary redemption occurs after the second (2nd) anniversary of this Agreement but on or prior to the third (3rd) anniversary of this Agreement, one hundred two and one-half percent (102.5%) of the sum of the principal amount to be redeemed plus any accrued but unpaid interest thereon;
(d) if such voluntary redemption occurs after the third (3rd) anniversary of this Agreement but on or prior to the fourth (4th) anniversary of this Agreement, one hundred one percent (101%) of the sum of the principal amount to be redeemed plus any accrued but unpaid interest thereon; or
(e) if such voluntary redemption occurs after the fourth (4th) anniversary of this Agreement, one hundred percent (100%) of the sum of the principal amount to be redeemed plus any accrued but unpaid interest thereon;
Optional Redemptions. In addition to the redemptions of the -------------------- Notes required under subsection 2.06(a) and (b), the Company may, at any time and from time to time, redeem, without premium, the Notes, in whole or in part (in integral multiples of $1,000), together with interest due on the amount so redeemed through the date of redemption. Partial redemptions made as provided in this subsection 2.06(c) shall, to the extent thereof, be applied first to reduce the principal due at maturity of the Notes and next to reduce the payments required by subsection 2.06(a) in inverse order of maturity thereof.
Optional Redemptions. In addition to the redemption of the Convertible Notes or the Notes, as applicable, required under sub-Section 2.6.1, the Company may at any time and from time to time, voluntarily redeem the Convertible Notes or the Notes, as applicable, in whole, or in part (in integral multiples of $500,000), together with all accrued and unpaid interest on the amount so redeemed through the date of redemption, at a redemption price (expressed as a percentage of the sum of the principal amount to be redeemed) equal to the price indicated below corresponding to the period in which any redemption occurs: Period Redemption Price ------ ---------------- Closing Date through September 29, 2004 103.00% September 30, 2004 through September 29, 2005 102.50% September 30, 2005 through September 29, 2006 102.00% September 30, 2006 through September 29, 2009 100.00%
Optional Redemptions. The Corporation may, at any time after 20 years after the first date of issuance of any shares of Series A Preferred Stock, redeem all or any portion of the Series A Preferred Stock then outstanding at a price per Series A Preferred Share equal to the Liquidation Value thereof (plus all accumulated and accrued and unpaid but not yet accumulate dividends thereon); provided, that all optional redemptions pursuant to this Section 3.3(b) are made pro rata among the holders of Series A Preferred Stock based upon the aggregate Liquidation Value (plus all accrued, accumulated and unpaid dividends thereon) of such Series A Preferred Stock held by each such holder.
