Used in formal contexts involving written agreements, often between organizations or between individuals and organizations. The company's merger was finalized with an indenture detailing the terms.
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Binding Terms
Indicates that the parties involved have legal obligations that must be fulfilled as per the agreement. By signing the indenture, they were obligated to complete the construction project on time.
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Technical Language
Often contains specific legal terms; understanding may require legal knowledge. The indenture included a clause on arbitration that was difficult to understand without a lawyer's help.