indenture security holder

As used in this subsection, the term “default” means any failure to make payment in full of principal or interest, when and as the same becomes due and payable, under any indenture which has been qualified under this subchapter, and under which the indenture trustee is trustee and the person of whom the indenture trustee is directly or indirectly a creditor is an obligor; and the term “indenture security holder” means all holders of securities outstanding under any such indenture under which any such default exists. In any case commenced under the Bankruptcy Act of July 1, 1898 , or any amendment thereto enacted prior to November 6, 1978 , all references to periods of three months shall be deemed to be references to periods of four months.


15 USC § 77kkk(a)

Scoping language

As used in this subsection
Is this correct? or