SOUTH ORANGE COUNTY PUBLIC FINANCING AUTHORITY, a joint powers authority. Indenture Reporting Covenants and.Section 314(a) of the Trust Indenture Act. Explore the significance of bond indentures, legal contracts defining issuer obligations and bondholder rights. Learn about bond covenants. Indenture refers to a legal and binding agreement, contract, or document between two or more parties. If an exempt organization has executed a Master Indenture, in almost all instances its covenants are stated in the Master Indenture and not the Loan. Agreement. THIS INDENTURE made this Z'J"-"-day of -r:Ys<:.. .