Investor consent for debt restructuring: trustees must obtain specified consents before enforcing security or entering inter creditor agreements. Prescribes Debenture Trustee(s)' obligations on default of listed debt securities: treat default at the ISIN level; send investor notice promptly with proof, including options for negative consent on enforcement and positive consent for signing an ICA; allow 15 days for consent and convene a meeting within 30 days unless default is cured; act according to majority decisions at the ISIN level; form a representative committee if needed; and sign ICA only if the resolution plan complies with applicable laws and contains exit and protection clauses, with prescribed timelines for finalisation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Investor consent for debt restructuring: trustees must obtain specified consents before enforcing security or entering inter creditor agreements.
Prescribes Debenture Trustee(s)' obligations on default of listed debt securities: treat default at the ISIN level; send investor notice promptly with proof, including options for negative consent on enforcement and positive consent for signing an ICA; allow 15 days for consent and convene a meeting within 30 days unless default is cured; act according to majority decisions at the ISIN level; form a representative committee if needed; and sign ICA only if the resolution plan complies with applicable laws and contains exit and protection clauses, with prescribed timelines for finalisation.
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