A more thorough explanation:

An indenture is a formal contract or deed made between two or more parties. It was first used in medieval England and is still used today. An indenture is a specific agreement within a contract that is noted with a specific duration or significance.

For example, in the past, indentures were used to convey land and for service contracts of seven years. Today, indentures are used for some apprenticeship contracts in the U.S. Bond indentures are also used to delineate various interests when companies issue bonds in financing agreements. These create assurances for the bonds. A corporate indenture would be a deed describing terms and conditions for debt securities issuance.

Overall, an indenture is a formal agreement that outlines specific terms and conditions between two or more parties. It is a legally binding document that is used to ensure that all parties involved understand their obligations and responsibilities.