Page:United States Statutes at Large Volume 104 Part 4.djvu/414

 104 STAT. 2730 PUBLIC LAW 101-550 —NOV. 15, 1990 regard to any period of grace or requirement of notice provided under the indenture."; (7) by striking "such indenture shall contain provisions requiring" in suteection (b); (8) by striking "securities to furnish" in subsection (b) and inserting "securities shall furnish"; (9) by striking "The indenture to be qualified shall contain provisions requiring the obligor" in subsection (c) and inserting "The obligor"; (10) by striking "securities to furnish" in subsection (c) and inserting "securities shall furnish"; (11) by striking "such indenture shall contain provisions" in subsection (d) and inserting "the obligor upon the indenture securities shall furnish to the indenture trustee a certificate or opinion of an engineer, appraiser, or other expert as to the fair value"; (12) by striking "requiring the obligor upon the indenture securities to furnish to the indenture trustee a certificate or opinion of an engineer, appraiser or other expert as to the fair value" in paragraphs (1), (2) and (3) of subsection (d); (13) by striking "If the indenture to be qualified so provides," at the beginning of the penultimate sentence of subsection (d) and inserting "The indenture to be qualified shall automatically be deemed (unless it is expressly provided therein that such provision is excluded) to provide that"; (14) by striking "specified in the indenture" in the penultimate sentence of subsection (d) and inserting "duly authorized to make such certificate or opinion by the obligor from time to time"; and (15) by inserting in subsection (e) "(other than certificates provided pursuant to subsection (a)(4) of this section)" after "indenture". SEC. 414. DUTIES AND RESPONSIBILITIES OF THE TRUSTEE. Section 315 of the Trust Indenture Act of 1939 (15 U.S.C. 77ooo) is amended— (1) by striking "The indenture to be qualified may" in subsections (a) and (e) and inserting "The indenture to be qualified shall automatically be deemed (unless it is expressly provided therein that any such provision is excluded) to"; (2) by striking "such indenture shall contain provisions requiring the indenture trustee to examine" in subsection (a) and inserting "the indenture trustee shall examine"; (3) by striking "The indenture to be qualified shall contain provisions requiring the indenture trustee to" in subsections (b) and (c) and inserting "The indenture trustee shall"; (4) by striking "That such indenture may" in the proviso in subsection (b) and inserting "That such indenture shall automatically be deemed (unless it is expressly provided therein that such provision is excluded) to"; and (5) by striking "such indenture may" in paragraphs (1), (2), and (3) of subsection (d) and inserting "such indenture shall automatically be deemed (unless it is expressly provided therein that any such provision is excluded) to".

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