(1) Bidder ("Bidder") submitting winning bid ("Winning Bid") is irrevocably obligated to purchase Notes at rates and/or prices submitted, if acceptable to the Issuer, as set forth in related Notice. Winning Bids are not officially awarded to Winning Bidders until formally accepted by Issuer.
(2) TRANTexas is not responsible for technical difficulties that result in loss of Bidder's internet connection with TRANTexas, slowness in transmission of bids, or other technical problems.
(3) If for any reason Bidder is disconnected from Auction Page during an auction after having submitted a Winning Bid, bid is valid and binding upon Bidder, unless Issuer exercises its right to reject bids, as set forth in related Notice.
(4) Bids which generate error messages are not accepted until error is corrected and bid is resubmitted.
(5) Bidders accept and agree to abide by all terms and conditions specified in Notice (including Amendments, if any) related to each auction.
(6) Texas Comptroller of Public Accounts is not responsible for any defect or inaccuracy in the Notice, Amendments, and Preliminary Official Statement, as applicable, as they appear on TRANTexas.
(7) Only Bidders who receive admission to an auction may submit bids. Texas Comptroller of Public Accounts reserves right to deny access to TRANTexas website to any Bidder, whether registered or not, at any time and for any reason whatsoever, in its sole and absolute discretion.
(8) Neither Texas Comptroller of Public Accounts nor Auction Administrator is responsible for protecting the confidentiality of a Bidders TRANTexas password.
(9) In the event one or more Bids specify the same net interest cost % and the award to such Bidders would exceed the aggregate principal amount of the Notes offered for sale after award of Bids specifying lower net interest costs, then selection for award of such tied Bids will be made pursuant to the terms described in the Notice.
(10) Bidders must compare their final bids to those shown on the Observation Pages immediately after the auction ends, and if they disagree with final results shown on Observation Pages they must report them to Issuer within 15 minutes after the auction ends. Regardless of the final results reported by TRANTexas, Notes are definitively awarded to winning bidders only upon official award by the Issuer. If, for any reason, the Issuer fails to: i) award to the winner(s) reported by TRANTexas or ii) deliver Notes to winning bidder(s) at settlement, Grant Street Group will not be liable for damages.
(11) Bidders who submit a bid on the Auction Page by clicking the 'Submit Bid' button must confirm that bid by clicking the 'Yes, Submit Bid' button on the Confirmation Page.

"Bid" - any confirmed purchase offer received by TRANTexas on or before the auction deadline.
"Bidder" - any firm registered with TRANTexas and approved for participation in auctions.
"Issuer" - Texas Comptroller of Public Accounts.
"Notes" - includes bonds, notes, and any other debt instrument.
"Notice" - Issuer's Notice of Sale, the official solicitation to Bidders which sets forth the terms and conditions Bidders agree to abide by.
"Net Interest Cost" - Shall be determined in accordance with the Notice.
"Winning Bid" - any offer made by a Bidder by clicking the "Submit Bid" button which, at the end of the auction, results in the lowest net interest cost as set out in Notice.

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