53 STAT.]
76TH CONG. , 1 ST SESS.-CH. 411 -AUG. 3, 1939
"(b) The indenture to be qualified shall provide that, notwith-
standing any other provision thereof, the right of any holder of any
indenture security to receive payment of the principal of and interest
on such indenture security, on or after the respective due dates
expressed in such indenture security, or to institute suit for the
enforcement of any such payment on or after such respective dates,
shall not be impaired or affected without the consent of such holder,
except as to a postponement of an interest payment consented to as
provided in paragraph (2) of subsection (a), and except that such
indenture may contain provisions limiting or denying the right of any
such holder to institute any such suit, if and to the extent that the
institution or prosecution thereof or the entry of judgment therein
would, under applicable law, result in the surrender, impairment,
waiver, or loss of the lien of such indenture upon any property
subject to such lien.
" SPECIAL POWERS OF TRUSTEE; DU'LES OF PAYING AGENTS
"SEC. 317. (a) The indenture to be qualified shall contain
provisions-
"(1) authorizing the indenture trustee, in the case of a default
in payment of the principal of any indenture security, when and
as the same shall become due and payable, or in the case of a
default in payment of the interest on any such security, when
and as the same shall become due and payable and the continu-
ance of such default for such period as may be prescribed in such
indenture, to recover judgment, in its own name and as trustee
of an express trust, against the obligor upon the indenture
securities for the whole amount of such principal and interest
remaining unpaid; and
"(2) authorizing such trustee to file such proofs of claim and
other papers or documents as may be necessary or advisable in
order to have the claims of such trustee and of the indenture
security holders allowed in any judicial proceedings relative to
the obligor upon the indenture securities, its creditors, or its
property.
"(b) The indenture to be qualified shall provide that each paying
agent shall hold in trust for the benefit of the indenture security
holders or the indenture trustee all sums held by such paying agent
for the payment of the principal of or interest on the indenture secur-
ities, and shall give to such trustee notice of any default by any
obligor upon the indenture securities in the making of any such
payment.
" 'EF FECT OF PRESCRIBED INDENTURE PROVISIONS
"SEC. 318. (a) The indenture to be qualified shall provide that if
any provision thereof limits, qualifies, or conflicts with another pro-
vision which is required to be included in such indenture by any of
sections 310 to 317, inclusive, such required provision shall control.
"(b) The indenture to be qualified may contain, in addition to
provisions specifically authorized under this title to be included
therein, any other provisions the inclusion of which is not in contra-
vention of any provision of this title.
"R UL ES, REGULATIONS, AND ORDERS
"SEC. 319. (a) The Commission shall have authority from time to
time to make, issue, amend, and rescind such rules and regulations
and such orders as it may deem necessary or appropriate in the
public interest or for the protection of investors to carry out the pro-
1173
Designated rights
not impaired.
Indenture to con-
tain designated pro-
visions.
Power of trustee to
recover judgment for
principal and interest
unpaid.
To file proofs of
claim, etc., in judicial
proceedings on behalf
of security holders.
Payments to he
held in trust.
Effect of prescribed
indenture provisions.
Inclusion of other
provisions.
Authority of Com-
mission.
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