Which of the following is NOT typically included in the bond indenture?

The correct response identifies the aspect of bond documentation that is typically not included in the bond indenture. A bond indenture is a legal contract between the bond issuer and bondholders that delineates the rights and obligations of both parties.

Included in a bond indenture are important details such as the interest payment schedule, which outlines the timing and amount of interest payments to bondholders. Additionally, redemption provisions specify the terms under which a bond issuer can redeem or pay off the bonds before maturity, ensuring that bondholders understand any potential early repayment scenarios. Covenant agreements are also a crucial part of the bond indenture, as they set forth the promises made by the issuer, such as maintaining certain financial ratios or restrictions on additional debt, which protect the interests of bondholders.

In contrast, the underwriter's fees, which pertain to the compensation paid to underwriting firms for facilitating the bond issuance, are usually covered in a separate document related to the issuance process rather than the bond indenture itself. This delineation makes it clear that while the bond indenture is focused on the terms of the bond and the issuer-bondholder relationship, underwriter fees are part of the overall deal structure and financial arrangement for the bond sale.