Trust Indenture Act of 1939


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Trust Indenture Act of 1939

A law that requires all corporate bonds and other debt securities to be issued subject to indenture agreements and comply with certain indenture provisions approved by the SEC.

Trust Indenture Act of 1939

Legislation in the United States requiring the appointment of an independent trustee to act on behalf of bondholders in each issue of debt securities. The Act also mandates that bond indentures must conform to certain standards set forth by the SEC and the Act itself, and that issuers must report their financial information periodically. The Trust Indenture Act was designed to increase transparency in the bond market and to protect the rights of bondholders.

Trust Indenture Act of 1939

The legislation that established rights for security holders under indenture agreements. The Act sets standards for trustees, requires financial reports by the issuers to the trustees, and mandates disclosure of owners' rights under the indenture agreements.
References in periodicals archive ?
By tendering their existing notes, holders will also be consenting to certain amendments to the indentures governing the existing ACG Notes and the existing Vertis Notes to eliminate substantially all of the covenants (including, in the case of the ACG Notes, the requirement that ACG offer to redeem the ACG Notes upon the occurrence of a change of control) and events of default that may be removed by majority consent of the holders consistent with the applicable indentures and the requirements of the Trust Indenture Act of 1939, as amended.
He advises clients on matters arising under the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of 1939 as well as the Sarbanes-Oxley Act of 2002 and the Dodd-Frank WallStreet Reform and Consumer Protection Act.
The proposed acquisition may only be completed in accordance with applicable state and federal laws including the Securities Act of 1933, the Securities Exchange Act of 1934 and the Trust Indenture Act of 1939, as amended; however, it is anticipated that exemptions from the registration requirements of the Securities Act and the qualification requirements of the Trust Indenture Act will be available to this transaction.