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.
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Start with the Bond Basics
Hundreds of Terms and Concepts
Exempt Facility Bonds
Type of private activity bond (PAB) permitted to be issued as a tax-exempt bond under Section 142 of the code for the purpose of funding many categories of exempt facilities.