Debenture trustees must monitor security created, submit asset cover certificates and publish timely disclosure of defaults and compliance. Debenture trustees must independently and periodically assess issuer compliance with issue covenants, with focused monitoring of the security created and asset charges. Trustees shall embed monitoring terms in trust deeds, obtain issuer documents, and submit prescribed reports (quarterly Asset Cover Certificates, guarantor net worth, valuations) to exchanges within specified timelines; amend existing trust deeds within 120 days; follow prescribed breach response procedures; furnish revised half yearly reports to the regulator; and publish defined disclosures on trustee websites within stated timelines.
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.
Debenture trustees must monitor security created, submit asset cover certificates and publish timely disclosure of defaults and compliance.
Debenture trustees must independently and periodically assess issuer compliance with issue covenants, with focused monitoring of the security created and asset charges. Trustees shall embed monitoring terms in trust deeds, obtain issuer documents, and submit prescribed reports (quarterly Asset Cover Certificates, guarantor net worth, valuations) to exchanges within specified timelines; amend existing trust deeds within 120 days; follow prescribed breach response procedures; furnish revised half yearly reports to the regulator; and publish defined disclosures on trustee websites within stated timelines.
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