Trustee
A commercial bank or trust company with trust powers which acts in a fiduciary capacity for and on behalf of the bondholders by entering into an indenture with the issuer of the bonds.
bond-basics
Trustee’s Counsel
An attorney or firm of attorneys engaged to serve as counsel to the Trustee. Trustee’s Counsel delivers an opinion as to the validity and enforceability as well as the due authorization and execution by the Trustee of the Indenture and other agreements to which the Trustee is party.
Life’s a Party
Learn more about the various parties involved in a municipal securities transaction and their roles.
Related
Form Conduit Indenture (2nd Edition)
The second edition of NABL’s sample form conduit indenture and accompanying commentary.
See Also
Indenture or Trust Indenture/Agreement
A contract between an issuer and a trustee under which the issuer issues bonds and specifies their maturities, interest rates, redemption provisions, form, exchange provisions, security and other terms.
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Hundreds of Terms and Concepts
Municipal Securities Rulemaking Board (“MSRB”)
A self-regulatory organization charged with rulemaking authority over municipal securities dealers and municipal advisors.