Common use of Broker-Dealer and Investment Advisory Business Clause in Contracts

Broker-Dealer and Investment Advisory Business. Municipal Advisor is a broker-dealer and investment advisory firm that engages in a broad range of securities-related activities to serve its clients, in addition to serving as a municipal advisor or underwriter. Such securities-related activities, which may include but are not limited to the buying and selling of new issue and outstanding securities and investment advice in connection with such securities, including securities of Issuer, may be undertaken on behalf of, or as counterparty to, Issuer, personnel of Issuer, and current or potential investors in the securities of Issuer. These other clients may, from time to time and depending on the specific circumstances, have interests in conflict with those of Issuer, such as when their buying or selling of Issuer’s securities may have an adverse effect on the market for Issuer’s securities, and the interests of such other clients could create the incentive for Municipal Advisor to make recommendations to Issuer that could result in more advantageous pricing for the other clients. Furthermore, any potential conflict arising from Municipal Advisor effecting or otherwise assisting such other clients in connection with such transactions is mitigated by means of such activities being engaged in on customary terms through units of the Municipal Advisor that operate independently from Municipal Advisor’s municipal advisory business, thereby reducing the likelihood that the interests of such other clients would have an impact on the services provided by Municipal Advisor to Issuer under this Agreement.

Broker-Dealer and Investment Advisory Business. Municipal Advisor The Firm is dually registered as a broker-broker- dealer and an investment advisory firm advisor that engages in a broad range of securities-related activities to serve service its clients, in addition to serving as a municipal advisor or underwriter. Such securities-related activities, which may include but are not limited to the buying and selling of new issue and outstanding securities and investment advice in connection with such securities, including securities of IssuerClient, may be undertaken on behalf of, or as counterparty to, IssuerClient, personnel of IssuerClient, and current or potential investors in the securities of IssuerClient. These other clients may, from time to time and depending on the specific circumstances, have interests in conflict with those of IssuerClient, such as when their buying or selling of IssuerClient’s securities may have an adverse effect on the market for IssuerClient’s securities, and the interests of such other clients could create the incentive for Municipal Advisor the Firm to make recommendations to Issuer Client that could result in more advantageous pricing for the other clients. Furthermore, any potential conflict arising from Municipal Advisor the firm effecting or otherwise assisting such other clients in connection with such transactions is mitigated by means of such activities being engaged in on customary terms through units of the Municipal Advisor Firm that operate independently from Municipal Advisorthe Firm’s municipal advisory business, thereby reducing the likelihood that the interests of such other clients would have an impact on the services provided by Municipal Advisor the Firm to Issuer under this AgreementClient.

Broker-Dealer and Investment Advisory Business. Municipal Advisor Xxxxxxxx is a broker-dealer and investment advisory firm that engages in a broad range of securities-related activities to serve service its clients, in addition to serving as a municipal advisor or underwriter. Such securities-related activities, which may include but are not limited to the buying and selling of new issue and outstanding securities and investment advice in connection with such securities, including securities of Issuerthe District, may be undertaken on behalf of, or as counterparty to, Issuerthe District, personnel of Issuerthe District, and current or potential investors in the securities of Issuerthe District. These other clients may, from time to time and depending on the specific circumstances, have interests in conflict with those of Issuerthe District, such as when their buying or selling of Issuerthe District’s securities may have an adverse effect on the market for Issuerthe District’s securities, and the interests of such other clients could create the incentive for Municipal Advisor Xxxxxxxx to make recommendations to Issuer the District that could result in more advantageous pricing for the other clients. Furthermore, any Any potential conflict arising from Municipal Advisor Xxxxxxxx effecting or otherwise assisting such other clients in connection with such transactions is mitigated by means of such activities being engaged in on customary terms through units of the Municipal Advisor Xxxxxxxx that operate independently from Municipal Advisor’s Xxxxxxxx’ municipal advisory business, thereby reducing the likelihood that the interests of such other clients would have an impact on the services provided by Municipal Advisor Xxxxxxxx to Issuer the District under this Agreement.