Glossary of Municipal Securities Terms

CONTINUING DISCLOSURE AGREEMENT OR UNDERTAKING

The agreement or undertaking by the issuer of municipal securities or an obligated person with respect to such securities to disseminate annual financial information, certain operating information and disclosures concerning certain events to the marketplace as provided for under SEC Rule 15c2-12. A continuing disclosure agreement may also provide for more frequent or additional disclosures beyond those contemplated by Rule 15c2-12. See: ANNUAL FINANCIAL INFORMATION; CONTINUING DISCLOSURE; EVENT DISCLOSURE; OBLIGATED PERSON; RULE 15c2-12; SECONDARY MARKET DISCLOSURE.

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