REPORTS BY OBLIGOR; EVIDENCE OF COMPLIANCE WITH INDENTURE PROVISIONS.

SEC. 413. REPORTS BY OBLIGOR; EVIDENCE OF COMPLIANCE WITH INDENTURE PROVISIONS. Section 314 of the Trust Indenture Act of 1939 (15 U.S.C. 77nnn) is amended— (1) by striking “The indenture to be qualified shall contain provisions requiring each” in subsection (a) and inserting “Each”; (2) by inserting “shall” after “thereby” in such subsection; (3) by striking “to” after the paragraph designation at the beginning of paragraphs (1), (2), and (3) of subsection (a); (4) by striking “and” at the end of paragraph (2) of subsection (a); (5) by striking the period at the end of paragraph (3) of subsection (a) and inserting “; and”; (6) by adding at the end of subsection (a) the following new paragraph: “(4) furnish to the indenture trustee, not less often than annually, a brief certificate from the principal executive officer, principal financial officer or principal accounting officer as to his or her knowledge of such obligor’s compliance with all conditions and covenants under the indenture. For purposes of this paragraph, such compliance shall be determined without104 STAT. 2730 regard to any period of grace or requirement of notice provided under the indenture.”; (7) by striking “such indenture shall contain provisions requiring” in subsection (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”.