Common use of Establishment of Issue Price Clause in Contracts

Establishment of Issue Price. (a) The Underwriter agrees to assist the Authority in establishing the issue price of the Bonds and shall execute and deliver to the Authority at Closing an “issue price” or similar certificate, substantially in the form attached as an exhibit to the Non-Arbitrage Certificate of the Authority and the City, together with the supporting pricing wires or equivalent communications, with modifications to such certificate as may be deemed appropriate or necessary, in the reasonable judgment of the Authority and Bond Counsel, to accurately reflect, as applicable, the sales price or prices or the initial offering price or prices to the public of the Bonds. (b) The Authority will treat the first price at which 10% of each maturity of the Bonds (the “10% test”) is sold to the public as the issue price of that maturity (if different interest rates apply within a maturity, each separate CUSIP number within that maturity will be subject to the 10% test). (c) The Underwriter has offered the Bonds to the public on or before the date of this Bond Purchase Agreement at the offering price or prices (the “initial offering price”), or at the corresponding yield or yields, set forth in the final official statement. As of the sale date, the 10% test has been satisfied for all maturities of the Bonds.] (d) The Underwriter acknowledges that sales of any Bonds to any person that is a related party to the Underwriter shall not constitute sales to the public for purposes of this section. Further, for purposes of this section:

Establishment of Issue Price. (a) The Underwriter agrees to assist the Authority Issuer in establishing the issue price of the Bonds and shall execute and deliver to the Authority Issuer at the Closing Time an “issue price” or similar certificate, substantially in the form attached hereto as an exhibit to the Non-Arbitrage Certificate of the Authority and the CityExhibit E, together with the supporting pricing wires or equivalent communicationscommunication, with modifications to such certificate as may be deemed appropriate or necessary, in the reasonable judgment of the Authority Underwriter, the Issuer, and Bond Counsel, to accurately reflect, as applicable, the sales price or prices or the initial offering price or prices to the public of the Bonds. (b) The Authority Issuer will treat the first price at which 10% of each maturity of the Bonds (the “10% test”) is sold to the public as the issue price of that maturity. At or promptly after the execution of this Bond Purchase Agreement, the Underwriter shall report to the Issuer the price or prices at which it has sold to the public each maturity (of Bonds. For purposes of this Section, if Bonds mature on the same date but have different interest rates apply within a maturityrates, each separate CUSIP number within that maturity will be subject to treated as a separate maturity of the 10% test)Bonds. (c) The Underwriter confirms that it has offered the Bonds to the public on or before the date of this Bond Purchase Agreement at the offering price or prices (the “initial offering price”), or at the corresponding yield or yields, set forth in the final official statement. As of the sale date, the 10% test has been satisfied for all maturities of the BondsSchedule 1 attached hereto.] (d) The Underwriter acknowledges that sales of any Bonds to any person that is a related party to an underwriter participating in the Underwriter initial sale of the Bonds to the public (each such term being used as defined below) shall not constitute sales to the public for purposes of this section. Further, for purposes of this section: