Other Municipal Advisor or Underwriting Relationships. Xxxxxxxx serves a wide variety of other clients that may from time to time have interests that could have a direct or indirect impact on the interests of the District. For example, Xxxxxxxx serves as municipal advisor to other municipal entities and, in such cases, owes a fiduciary duty to such other clients just as it does to the District under this Agreement. These other clients may, from time to time and depending on the specific circumstances, have competing interests, such as accessing the new issue market with the most advantageous timing and with limited competition at the time of the offering. In acting in the interests of its various clients, Xxxxxxxx could potentially face a conflict of interest arising from these competing client interests. In other cases, as a broker-dealer that engages in underwritings of new issuances of municipal securities by other municipal entities, the interests of Xxxxxxxx to achieve a successful and profitable underwriting for its municipal entity underwriting clients could potentially constitute a conflict of interest if, as in the example above, the municipal entities that Xxxxxxxx serves as underwriter or municipal advisor have competing interests in seeking to access the new issue market with the most advantageous timing and with limited competition at the time of the offering. None of these other engagements or relationships would impair Xxxxxxxx’ ability to fulfill its fiduciary duty to the District.
Other Municipal Advisor or Underwriting Relationships. XXxxXX serves a wide variety of other clients that may from time to time have interests that could have a direct or indirect impact on the interests of Client. For example, XXxxXX serves as municipal advisor to other municipal advisory clients and, in such cases, owes a regulatory duty to such other clients just as it does to Client under this Agreement. These other clients may, from time to time and depending on the specific circumstances, have competing interests, such as accessing the new issue market with the most advantageous timing and with limited competition at the time of the offering. In acting in the interests of its various clients, XXxxXX could potentially face a conflict of interest arising from these competing client interests. None of these other engagements or relationships would impair XXxxXX’s ability to fulfill its regulatory duties to Client.
