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
Cost of Issuance
Expenses paid by or on behalf of the Issuer or a conduit borrower which are directly related to the issuance and sale of the bonds.