Trust Indenture Act
of 1939, along with certain other amendments to remove provisions of the indenture that no longer apply.
transportation bill that would have rolled back part of a 1939 law known as the Trust Indenture Act
, said the people, who asked not be identified discussing the actions because they haven't been made public.
The Trust Indenture Act
and out-of-court restructurings
On December 23, the United States Court of Appeals for the Second Circuit issued an opinion on an issue of first impression, namely the scope of [section] 304(a)(2) of the Trust Indenture Act
of 1939,15 U.
The complaint included claims for violating the Trust Indenture Act
of 1939, breach of contract, and breach of the implied covenant of good faith and fair dealing.
The act makes it a criminal offense (now punishable, post-Sarbanes-Oxley and, hence, post-Enron, by up to 25 years in prison per count) to willfully violate any provision of the securities statutes (see also the Securities Act of 1933, section 24; the Bank Holding Company Act, section 29; the Trust Indenture Act
, section 325; the Investment Company Act of 1940, section 49; and the Investment Advisers Act of 1940, section 217).
We do, however, advocate removing regulatory barriers created by the Trust Indenture Act
that impede the implementation of the supertrustee proposal.
It is intended that the exchange transaction will close in late March or early April following the qualification of the related indenture under the Trust Indenture Act
This is consistent with the Trust Indenture Act
The exchange offer, which was originally scheduled to expire on November 18, 2009 but was extended to allow time to complete qualification under the Trust Indenture Act
, expired at 5:00 p.
00, to a premium that better reflects current market conditions, the addition of certain redemption rights, the addition of certain provisions required under the US Trust Indenture Act
, as well as other amendments that the Company may determine would be beneficial to the Company and the Debenture holders.
The exchange offer was amended to allow time to complete the qualification of the indenture for the Exchange Notes under the Trust Indenture Act