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(g) the United States has become engaged in hostilities which have resulted in a declaration of war or a national emergency or there has occurred any other outbreak of hostilities or a national or international calamity or crisis, or there has occurred any escalation of existing hostilities, calamity or crisis, financial or otherwise, the effect of which on the financial markets of the United States being such as, in the reasonable opinion of the Underwriter, would affect materially and adversely the ability of the Underwriter to market the Bonds or enforce contracts for sale of the Bonds; or (h) any rating of the Bonds shall have been downgraded, suspended or withdrawn by a national rating service, which, in the Underwriter's reasonable opinion, materially adversely affects the marketability or market price of the Bonds; or (i) the commencement of any action, suit or proceeding described in Section 6(1) hereof which, in the judgment of the Underwriter, materially adversely affects the market price of the Bonds; or (j) there shall be in force a general suspension of trading on the New York Stock Exchange, or minimum or maximum prices for trading shall have been fixed and be in force, or maximum ranges for prices for securities shall have been required and be in force on the New York Stock Exchange, whether by virtue of determination by that Exchange or by order of the Securities and Exchange Commission of the United States or any other governmental authority having jurisdiction; or (k) there shall have been any materially adverse change in the affairs of the Agency which in the Underwriter's reasonable judgment materially adversely affects the market for the Bonds. 10. Expenses. The Underwriter shall be under no obligation to pay and the Agency shall pay or cause to be paid the expenses incident to the performance of the obligations of the Agency hereunder including but not limited to (a) the costs of the preparation and printing, or other reproduction (for distribution on or prior to the date hereof) of the Agency Documents and the cost of preparing, printing, issuing and delivering the definitive Bonds, (b) the fees and disbursements of any counsel, financial advisors, accountants or other experts or consultants retained by the Agency; (c) the fees and disbursements of Bond Counsel and Disclosure Counsel; (d) the cost of printing the Preliminary Official Statement and any supplements and amendments thereto and the cost of printing the Official Statement, including the requisite number of copies thereof for distribution by the Underwriter; (e) charges of rating agencies for the rating of the Bonds, if any; and (f) the fees and disbursements of the Trustee, including but not limited to, fee and disbursements of its counsel, travel and other expenses. The Underwriter shall pay all expenses incurred by it in connection with the public offering and distribution of the Bonds, travel, and miscellaneous fees of the California Debt and Investment Advisory Commission, the fees of Underwriter's counsel and the CUSIP Service Bureau charge for the assignment of CUSIP numbers to the Bonds. Such amounts will be billed separately by the Underwriter and will be payable from the proceeds of the Bonds. 11. Notices. Any notice or other communication to be given to the Agency under this Purchase Contract may be given by delivering the same in writing to such entity at the address set -12-