Indenture \In*den"ture\ (?; 135), n. [OE. endenture, OF. endenture, LL. indentura a deed in duplicate, with indented edges. See the Note below. See {Indent}.] 1. The act of indenting, or state of being indented.
2. (Law) A mutual agreement in writing between two or more parties, whereof each party has usually a counterpart or duplicate, sometimes with the edges indented for purpose of identification; sometimes in the pl., a short form for {indentures of apprenticeship}, the contract by which a youth is bound apprentice to a master.
The law is the best expositor of the gospel; they are like a pair of indentures: they answer in every part. --C. Leslie.
Note: Indentures were originally duplicates, laid together and indented by a notched cut or line, or else written on the same piece of parchment and separated by a notched line so that the two papers or parchments corresponded to each other. But indenting has gradually become a mere form, and is often neglected, while the writings or counterparts retain the name of indentures.
3. Hence: A contract by which anyone is bound to service. [PJC]
Indenture \In*den"ture\, v. t. [imp. & p. p. {Indentured}; p. pr. & vb. n. {Indenturing}.] 1. To indent; to make hollows, notches, or wrinkles in; to furrow.
Though age may creep on, and indenture the brow. --Woty.
2. To bind by indentures or written contract; as, to indenture an apprentice.
Indenture \In*den"ture\, v. i. To run or wind in and out; to be cut or notched; to indent. --Heywood.
Ramada Inc. said it intends to solicit consents from holders of its 11 5/8% subordinated notes due in 1999 to modify the indenture governing the notes in connection with its restructuring program.
Under the pact, that debtholder agreed to accept modified terms of the indenture, after Augustus closes a planned $4 million equity infusion in Diversified.
Armco said it is seeking the consent of its note holders to amend provisions of the indenture relating to the notes that prohibit paying dividends on its common stock.
Foodmaker also is soliciting consent of noteholders to various amendments to the indenture under which the notes were offered.
Pay 'n Save said the proposed amendments would change the indenture "to enhance or increase the company's ability to obtain equity financing and working capital and make future acquisitions."
The Minneapolis computer systems and services concern said the offer is required under the senior note indenture as a result of Control Data's recent sale of its disk drive subsidiary, Imprimis, to Seagate Technology Inc.
Banner said it will resume dividends after it has sufficient profit to satisfy the requirements of the bond indenture, but an official said the company can't predict when that will occur.
As part of the purchase agreement, Columbia Savings consented to amending Fairchild's indenture provisions, deleting restrictions on dividend payments and stock repurchases.
A major factor in the upgrade is a recently adopted debt indenture, restricting intersubsidiary investments, said Stephen Shippie, analyst at the rating concern.