Trust Indenture Act of 1939


Also found in: Acronyms, Wikipedia.

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 ?
has filed an application with the Securities and Exchange Commission seeking qualification under the Trust Indenture Act of 1939, as amended, of the indenture governing its 9 percent Sinking Fund Uncertificated Debentures, due 2012, which would be issued in connection with transactions related to the proposal.
The proposed amendments would eliminate from the Indenture substantially all of the covenants other than with respect to payments of principal, premium, if any, and interest on the Notes and covenants required by the Trust Indenture Act of 1939, and would eliminate certain significant events of default.
Consummation of these transactions remains contingent upon a variety of conditions including the qualification of an Indenture under the Trust Indenture Act of 1939 administered by the Securities and Exchange Commission; approval by the Superior Court of Providence County, Rhode Island, after notice of and a hearing on the fairness of the transactions involving the receivership; and final satisfaction of the Office of Thrift Supervision and the Federal Deposit Insurance Corporation as to various aspects of the transactions.
Consummation of these transactions is subject to, among other things, the qualification of the indenture for the new 15% Debentures under the Trust Indenture Act of 1939.
Consummation of these transactions remains contingent upon a variety of conditions including the receipt of a private letter ruling from the Internal Revenue Service; the qualification of an Indenture under the Trust Indenture Act of 1939 administered by the Securities and Exchange Commission; approval by the Superior Court of Providence County, Rhode Island, after notice of and a hearing on the fairness of the transactions involving the receivership; and receipt of the written approval and evaluation of any conditions to repurchase the stock held by the FSLIC Resolution Fund administered by the FDIC.
Consummation of the transactions remains contingent upon a variety of conditions and uncertainties including action by the Office of Thrift Supervision, the receipt of a private letter ruling from the Internal Revenue Service, the qualification of an Indenture under the Trust Indenture Act of 1939 administered by the Securities and Exchange Commission, and approval by the Superior Court of Providence County, Rhode Island after notice of and a hearing on the fairness of the transactions involving the receiverships.