An accounting estimate of the number of years it is likely for an asset to remain in service for the purpose of cost-effective revenue generation. The Internal Revenue Service (IRS) employs Useful Life for various purposes applicable to Tax-Exempt Bonds.
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The amount, if any, required to be paid to the issuer by the underwriter at the time the bonds are sold, which serves as the amount retained by the Issuer as compensation for any damages caused to the issuer by the underwriter failing to purchase the bonds at the closing.
