The United States Court of Appeals for the Second Circuit held in Marblegate Asset Mgmt., LLC v. Educ. Mgmt. Fin. Corp., No. 15-2124-CV(L), 2017 WL 164318 (2d Cir. Jan. 17, 2017) that Section 316(b) of the Trust Indenture Act (“TIA”) prohibits only non-consensual amendments to an indenture’s core payment terms, overturning the decision from the United States District Court for the Southern District of New York, which had taken a more expansive view of the TIA in holding that Section 316(b) prohibited impairing the practical ability to collect payment under an indenture.