Optional Redemptions Sample Clauses

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. 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. 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. 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. (a) The Secured Notes will be redeemable, at the Issuer's option, in whole or from time to time in part upon not less than 30 and not more than 60 days' prior notice mailed by first class mail to each Holder's registered address appearing in the Securities Register on any date prior to Maturity at a price equal to 100% of the principal amount thereof plus accrued and unpaid interest (including Special Interest, if any, and Additional Amounts, if any), to the Redemption Date (subject to the right of Holders of record on the relevant Record Date to receive interest due on an Interest Payment Date that is on or prior to the Redemption Date), plus the Make-Whole Premium. In no event will the Redemption Price ever be less than 100% of the principal amount of the Secured Notes to be redeemed plus accrued and unpaid interest (including Special Interest, if any, and Additional Amounts, if any), to the Redemption Date. The amount of the Make-Whole Premium with respect to any Secured Notes (or portion thereof) to be redeemed will be equal to the excess, if any, of: (i) the sum of the present values, calculated as of the Redemption Date, of: (1) each interest payment that, but for such redemption, would have been payable on the Secured Notes (or portion thereof) being redeemed on each Interest Payment Date occurring after the Redemption Date (excluding any accrued and unpaid interest for the period prior to the Redemption Date); and (2) the principal amount that, but for such redemption, would have been payable at the final maturity of the Secured Notes (or portion thereof) being redeemed, over (ii) the principal amount of the Secured Notes (or portion thereof) being redeemed. The present values of interest and principal payments referred to in clause (i) above will be determined in accordance with generally accepted principles of financial analysis. Such present values will be calculated by discounting the amount of each payment of interest or principal from the date that each such payment would have been payable, but for the redemption, to the Redemption Date at a discount rate equal to the Treasury Rate (as defined below) plus 50 basis points. The Make-Whole Premium will be calculated by the Independent Investment Banker. For purposes of this Section 3.07 and Section 3.09, the following definitions apply:

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. (a) At any time prior to August 19, 2023, upon not less than 30 nor more than 60 days’ prior notice, the Company may, on any one or more occasions, redeem up to 40% of the aggregate principal amount of Notes issued under this Indenture at a redemption price of 103.575% of the principal amount of the Notes redeemed, plus accrued and unpaid interest, if any, to (but not including) the applicable redemption date, subject to the rights of Holders on the relevant Record Date to receive interest due on the relevant Interest Payment Date, with the net cash proceeds of one or more Equity Offerings; provided that: (1) at least 60% of the aggregate principal amount of Notes issued on the Original Issue Date (excluding Notes held by the Parent or its Subsidiaries) remains outstanding immediately after the occurrence of such redemption; and (2) the redemption occurs within 90 days of the date of the closing of such Equity Offering. (b) At any time prior to August 19, 2023, upon not less than 30 nor more than 60 days’ prior notice, the Company may, on any one or more occasions, redeem all or any portion of the Notes at a redemption price equal to 100% of the principal amount of the Notes redeemed, plus the Applicable Premium as of, and accrued and unpaid interest, if any, to (but not including), the applicable redemption date, subject to the rights of Holders on the relevant Record Date to receive interest due on the relevant Interest Payment Date. Neither the Trustee nor any of the Agents shall be responsible for verifying or calculating the Applicable Premium. (c) At any time on or after August 19, 2023, upon not less than 30 nor more than 60 days’ prior notice, the Company may, on any one or more occasions, redeem all or any portion of the Notes at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, on the Notes redeemed, to (but not including) the applicable redemption date, if redeemed during the periods indicated below, subject to the rights of Holders on the relevant Record Date to receive interest on the relevant Interest Payment Date: From August 19, 2023 to August 18, 2024 101.7875 % From August 19, 2024 to August 18, 2025 100.89375 % On or after August 19, 2025 100.000 % Unless the Company defaults in the payment of the applicable redemption price, interest will cease to accrue on the Notes or portions thereof called for redemption on the applicable redemption date. Any redemption pu...

Optional Redemptions. In addition to the redemption of the Notes required under sub-Section 2.5.1, Borrower may, at any time upon the prior written approval of each of a majority of the members of Borrower's board of directors and a majority of the independent members of Borrower's board of directors, 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, including a redemption pursuant to sub-Section 2.5.4, occurs on or prior to the first 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, including a redemption pursuant to sub-Section 2.5.4, occurs after the first anniversary of this Agreement but on or prior to the second 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, including a redemption pursuant to sub-Section 2.5.4, occurs after the second anniversary of this Agreement but on or prior to the third anniversary of this Agreement, one hundred four percent (104%) of the sum of the principal amount to be redeemed plus any accrued but unpaid interest thereon; (d) if such voluntary redemption, including a redemption pursuant to sub-Section 2.5.4, occurs after the third anniversary of such Agreement but on or prior to the fourth anniversary of this Agreement, one hundred three percent (103%) of the sum of the principal amount to be redeemed plus any accrued but unpaid interest thereon; (e) if such voluntary redemption, including a redemption pursuant to sub-Section 2.5.4, occurs after the fourth anniversary of this Agreement but on or prior to the fifth anniversary of this Agreement, one hundred two percent (102%) of the sum of the principal amount to be redeemed plus any accrued but unpaid interest thereon; or (f) if such voluntary redemption, including a redemption pursuant to sub-Section 2.5.4, occurs after the fifth anniversary but prior to the sixth 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.

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%