---
title: "Checklist for a note issue that may need a qualified indenture"
url: "https://ailawframework.com/practice/banking-and-finance/draft-bond-or-note-documents-trust-deed-agency-agreement-and-pricing-sup/united-states"
type: "task_jurisdiction_version"
site: "AI Law Framework"
id: "A3-T1-R10-US"
practice_area: "Banking & Finance (Lending, Securities, Project Finance)"
tier: "yellow"
lawyer_review: "required"
jurisdictions: ["US"]
last_reviewed: "2026-10-22"
---

# Checklist for a note issue that may need a qualified indenture

> List whether the file has a registration statement, an indenture and a named trustee, and extract any clause on default, notice of default, authentication, release of property, and discharge. Do not draft the indenture.

Canonical page: https://ailawframework.com/practice/banking-and-finance/draft-bond-or-note-documents-trust-deed-agency-agreement-and-pricing-sup/united-states  
Last reviewed: 2026-10-22

Site index for agents: https://ailawframework.com/llms.txt

## Key facts

| Fact | Value |
| --- | --- |
| Practice area | [Banking & Finance (Lending, Securities, Project Finance)](https://ailawframework.com/practice/banking-and-finance.md) |
| Human involvement | Yellow: Lawyer and AI draft together |
| How AI is used | List whether the file has a registration statement, an indenture and a named trustee, and extract any clause on default, notice of default, authentication, release of property, and discharge. Do not draft the indenture. |
| What the lawyer must review | 15 U.S.C. § 77eee applies to a registration statement for a security required to be registered under the Securities Act, subject to section 77ddd, which was not opened. The statement must include the information the Commission prescribes on whether the designated trustee is eligible under section 77jjj(a), which was not opened, and an analysis of the indenture's default definition and withholding of notice, authentication and application of proceeds, release or substitution of liened property, satisfaction and discharge, and the evidence of compliance the obligor must give the trustee. The Commission shall refuse to let the registration become effective if it finds there is no indenture, or the trustee is not eligible, after notice and a hearing, with the exceptions in the section. You decide whether the section applies. You draft the documents. |
| Written for | United States |
| Applies to | [Draft bond or note documents: trust deed, agency agreement and pricing supplement](https://ailawframework.com/practice/banking-and-finance/draft-bond-or-note-documents-trust-deed-agency-agreement-and-pricing-sup.md) |

## Checking plan

- What the AI does: List whether the file has a registration statement, an indenture and a named trustee, and extract any clause on default, notice of default, authentication, release of property, and discharge. Do not draft the indenture.
- Basis: Checked against the linked sources on 22 October 2026. Confirm the current instrument before reliance.

## Notes

- Open sections 77ddd and 77jjj, and the delayed-offering paragraph, before you treat an issue as outside or inside § 77eee.
- The checklist is not the indenture or the pricing supplement.

## Sources

- [15 U.S.C. § 77eee, Securities required to be registered under the Securities Act](https://www.law.cornell.edu/uscode/text/15/77eee) (checked 2026-10-22)
- [ABA Formal Opinion 512, Generative Artificial Intelligence Tools (29 July 2024)](https://www.americanbar.org/content/dam/aba/administrative/professional_responsibility/ethics-opinions/aba-formal-opinion-512.pdf) (checked 2026-10-22)
- [ABA Model Rule 1.1, Competence](https://www.americanbar.org/groups/professional_responsibility/publications/model_rules_of_professional_conduct/rule_1_1_competence/) (checked 2026-10-22)

*Practice guidance for planning and review. Confirm current primary sources and the requirements of the actual matter. This is general information, not legal advice.*