Common use of Redemption/Defeasance Account Clause in Contracts

Redemption/Defeasance Account. (a) Upon the sending of a Redemption Notice in respect of any Series of Equipment Notes or Class thereof, or an election by Issuer to effect a legal defeasance or covenant defeasance of any Series of Equipment Notes or Class thereof pursuant to Article XII hereof, the Indenture Trustee will establish a Redemption/Defeasance Account to retain the proceeds to be used in order to redeem or defease such Series or Class.

Redemption/Defeasance Account. (a) Upon the sending of a Redemption Notice in respect of any Series of the Equipment Notes or Class thereofNotes, or an election by the Issuer to effect a legal defeasance or covenant defeasance of any Series of the Equipment Notes or Class thereof pursuant to Article XII hereof, the Indenture Trustee will establish a Redemption/Defeasance Account to retain the proceeds to be used in order to redeem or defease such Series or Classthe Equipment Notes.

Redemption/Defeasance Account. (a) Upon the sending of a Redemption Notice in respect of any Series of the Equipment Notes or any Class thereof, or an election by the Issuer to effect a legal defeasance or covenant defeasance of any Series of the Equipment Notes or any Class thereof pursuant to Article XII hereof, the Indenture Trustee will establish a Redemption/Defeasance Account to retain the proceeds to be used in order to redeem or defease such Series or Class.

Redemption/Defeasance Account. (a) Upon the sending of a Redemption Notice in respect of any Series of Equipment the Notes or any Class thereof, or an election by the Issuer to effect a legal defeasance or covenant defeasance of any Series of Equipment the Notes or any Class thereof pursuant to Article XII hereofXII, the Indenture Trustee will establish a Redemption/Defeasance Account to retain the proceeds to be used in order to redeem or defease such Series or Class.