Bond Purchase Agreement (“BPA”)
Contract in which the Issuer and/or borrower agrees to sell bonds to the underwriter.
bond-basics
Standby Bond Purchase Agreement
An agreement, usually between an Issuer (or in the case of a Conduit Financing, a Conduit Issuer and a Conduit Borrower), a Trustee (as tender agent) and a commercial bank, used to guarantee repurchase of Bonds that are subject to short Call Provisions (e.g., daily, weekly or monthly) if such Bonds are tendered for purchase by the bondholders and not simultaneously remarketed to and purchased by new bondholders.
See Also
Start with the Bond Basics
Hundreds of Terms and Concepts
Securities and Exchange Commission (SEC)
Federal agency that oversees and regulates the securities industry and aims “to protect investors, maintain fair, orderly and efficient markets and facilitate capital formation.”