Older children and teenagers who break the rules may be grounded, or not allowed to go out with friends. Some of their privileges at home-like TV or telephone use-may also be taken away for a while.
One potential pitfall is that it may mean that some bondholders have more rights than others, a provision that may break "negative pledge clauses" which specifically forbid such a situation.
But biological parents aren't always preferable to adoptive ones, and biological parentage does not convey an absolute ownership that cancels all the rights of children.