Master (Trust) Indenture

A type of Indenture which permits the issuance from time to time of one or more series of Bonds under the same Indenture in addition to the initial series of Bonds. This document is also called an “Open Indenture.” A Master Indenture is often used in Conduit Financings for multiple Borrowers to combine their credit into a single obligated group.

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Learn more about the various documents involved in a municipal securities transaction.

See Also

Indenture or Trust Indenture/Agreement

A contract between an issuer and a trustee under which the issuer issues bonds and specifies their maturities, interest rates, redemption provisions, form, exchange provisions, security and other terms.

Conduit Financing

Financing in which the Issuer issues the bonds to finance a project to be used primarily by a third party.

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Accredited Investor

An investor satisfying the definition promulgated by the SEC in Rule 501 of Regulation D under the 1933 Act.