Several recent US court decisions interpreting New York law-governed bond indentures have broken new ground, interpreting indentures in a manner that. The Trustee shall keep a complete record of each Series of Bonds and.1. Unless expressly reserved in writing, a transfer of any bond shall vest in the transferee all claims or demands of the transferrer. An indenture is a legal and binding contract usually associated with bond agreements, real estate, or bankruptcy. Facility for such Bonds are legally authorized to close in The City of New York. A trust indenture is an agreement in a bond contract made between a bond issuer and a trustee that represents the bondholder's interests.