Standby Bond Purchase Agreement Msrb

SBPA are very different. Under a typical SBPA, the liquidity provider provides liquidity to the holders` tenders when the VRDO cannot be re-marketed, but does not pay principal or interest on the VRDO. In addition, the liquidity provider may have the right, under a typical AAA, to terminate the liquidity support under certain conditions, which are explained below. Sometimes, when an SBPA is provided, debtors also secure their bonds with local bond insurance in order to further improve vrdo`s long-term rating. The description of vrDO contained therein is of a general and summary nature and should not be considered definitive or used for any particular problem of VRDO. A bond purchase agreement is a document that sets out the terms of a sale between the bond issuer and the songwriter of the bonds. Among the remarketing agent`s tasks are setting the interest rate from time to time and efforts to re-emulate the VRDO, which are offered by the owners of the VRDO under the VRDO`s optional or mandatory tendering rules (subject to the terms of the remarketing agreement). The remarketing agent is appointed by the issuer or debtor and paid by the issuer or debtor for its services. . . . .