Common use of Failure to Deposit Clause in Contracts

Failure to Deposit. (a) If: (i) any Failure to Deposit shall have occurred with respect to shares of any series of Preferred Shares of the Trust during any Rate Period thereof (other than any Special Rate Period of Rate Period Days or any Rate Period succeeding any Special Rate Period of more than 364 Rate Period Days during which a Failure to deposit occurred that has not been cured), but, prior to 12:00 Noon, New York City time, on the third Business Day next succeeding the date on which such Failure to Deposit occurred, such Failure to Deposit shall have been cured in accordance with Section 2.8 of the Auction Agency Agreement and the Trust shall have paid to the Auction Agent for such series the applicable Late Charge as described in Section 2.8 of the Auction Agency Agreement, then, if BD is a Broker-Dealer for such series, such Auction Agent shall deliver a notice in the form of Exhibit G to the Auction Agency Agreement by first-class mail, postage prepaid, to BD not later than one Business Day after its receipt of the payment from the Trust curing such Failure to Deposit and such Late Charge.

Appears in 7 contracts

Samples: Broker Dealer Agreement (Blackrock Virginia Municipal Bond Trust), Broker Dealer Agreement (Blackrock Maryland Municipal Bond Trust), Broker Dealer Agreement (Blackrock Municipal Bond Trust)

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Failure to Deposit. (a) If: (i) If any Failure to Deposit shall have occurred with respect to shares of any series of Preferred Shares APS of the Trust during any Rate Period thereof (other than any Special Rate Period of more than 364 Rate Period Days or any Rate Period succeeding any Special Rate Period of more than 364 Rate Period Days during which a Failure to deposit Deposit occurred that has not been cured), but, prior to 12:00 Noon, New York City time, on the third Business Day next succeeding the date on which such Failure to Deposit occurred, such Failure to Deposit shall have been cured in accordance with Section 2.8 2.8(c) of the Auction Agency Agreement and the Trust shall have paid to the Auction Agent for such series the applicable Late Charge as described in Section 2.8 2.8(a) of the Auction Agency Agreement, ; then, if BD is a Broker-Dealer for such series, such Auction Agent shall deliver a notice in the form of Exhibit G to the Auction Agency Agreement by first-class mail, postage prepaid, to BD not later than one Business Day after its receipt of the payment from the Trust curing such Failure to Deposit and such Late Charge.

Appears in 5 contracts

Samples: Broker Dealer Agreement (Ing Clarion Real Estate Income Fund), Broker Dealer Agreement (Ing Clarion Real Estate Income Fund), Broker Dealer Agreement (Ing Clarion Real Estate Income Fund)

Failure to Deposit. (a) If: (i) any Failure to Deposit shall have occurred with respect to shares of any series of Preferred Shares AMPS of the Trust Fund during any Rate Period thereof (other than any Special Rate Period consisting of Rate Period Days more than 364 days or any Rate Period succeeding any Special Rate Period consisting of more than 364 Rate Period Days days during which a Failure to deposit Deposit occurred that has not been cured), but, prior to 12:00 Noon, New York City time, on the third fourth Business Day next succeeding the date on which such Failure to Deposit occurred, such Failure to Deposit shall have been cured in accordance with Section 2.8 2.8(c) of the Auction Agency Agreement and the Trust Fund shall have paid to the Auction Agent for such series the applicable Late Charge as described in Section 2.8 2.8(a) of the Auction Agency Agreement, then, if BD is a Broker-Dealer for such series, such Auction Agent shall deliver a notice in the form of Exhibit G F to the Auction Agency Agreement by first-class mail, postage prepaid, to BD not later than one Business Day after its receipt of the payment from the Trust Fund curing such Failure to Deposit and such Late Charge.

Appears in 2 contracts

Samples: Broker Dealer Agreement (Ts&w / Claymore Tax-Advantaged Balanced Fund), Broker Dealer Agreement (Dreman Claymore Dividend & Income Fund)

Failure to Deposit. (a) If: (i) any Failure to Deposit shall have occurred with respect to shares of any series of Preferred Shares AMPS of the Trust during any Rate Period thereof (other than any Special Rate Period of Rate Period Days or any Rate Period succeeding any Special Rate Period of more than 364 Rate Period Days during which a Failure to deposit occurred that has not been cured), but, prior to 12:00 Noon, New York City time, on the third Business Day next succeeding the date on which such Failure to Deposit occurred, such Failure to Deposit shall have been cured in accordance with Section 2.8 of the Auction Agency Agreement and the Trust shall have paid to the Auction Agent for such series the applicable Late Charge as described in Section 2.8 of the Auction Agency Agreement, then, if BD is a Broker-Dealer for such series, such Auction Agent shall deliver a notice in the form of Exhibit G to the Auction Agency Agreement by first-class mail, postage prepaid, to BD not later than one Business Day after its receipt of the payment from the Trust curing such Failure to Deposit and such Late Charge.

Appears in 2 contracts

Samples: Broker Dealer Agreement (Blackrock California Municipal 2018 Term Trust), Broker Dealer Agreement (Blackrock New York Municipal 2018 Term Trust)

Failure to Deposit. (a) If: (i) any Failure to Deposit shall have occurred with respect to shares of any series of Preferred Shares APS of the Trust during any Rate Period thereof (other than any Special Rate Period of Rate Period Days or any Rate Period succeeding any Special Rate Period of more than 364 Rate Period Days during which a Failure to deposit Deposit occurred that has not been cured), but, prior to 12:00 Noon, New York City time, on the third Business Day next succeeding the date on which such Failure to Deposit occurred, such Failure to Deposit shall have been cured in accordance with Section 2.8 2.8(c) of the Auction Agency Agreement and the Trust shall have paid to the Auction Agent for such series the applicable Late Charge as described in Section 2.8 2.8(a) of the Auction Agency Agreement, then, if BD is a Broker-Dealer for such series, such Auction Agent shall deliver a notice in the form of Exhibit G to the Auction Agency Agreement by first-class mail, postage prepaid, to BD not later than one Business Day after its receipt of the payment from the Trust curing such Failure to Deposit and such Late Charge.

Appears in 1 contract

Samples: Broker Dealer Agreement (Blackrock Global Floating Rate Income Trust)

Failure to Deposit. (a) If: (i) any Failure to Deposit shall have occurred with respect to shares of any series of Preferred Shares AMPS of the Trust during any Rate Period thereof (other than any Special Rate Period of Rate Period Days or any Rate Period succeeding any Special Rate Period of more than 364 Rate Period Days during which a Failure to deposit occurred that has not been cured), but, prior to 12:00 Noon, New York City time, on the third Business Day next succeeding the date on which such Failure to Deposit occurred, such Failure to Deposit shall have been cured in accordance with Section 2.8 of the Auction Agency Agreement and the Trust shall have paid to the Auction Agent for such series the applicable Late Charge as described in Section 2.8 of the Auction Agency Agreement, then, if BD is a Broker-Dealer for such series, such Auction Agent shall deliver a notice in the form of Exhibit G to the Auction Agency Agreement by first-class mail, postage prepaid, to BD not later than one Business Day after its receipt of the payment from the Trust curing such Failure to Deposit and such Late Charge.

Appears in 1 contract

Samples: Broker Dealer Agreement (Blackrock Municipal 2018 Term Trust)

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Failure to Deposit. (a) If: (i) any Failure to Deposit shall have occurred with respect to shares of any series of Preferred Shares AMPS of the Trust during any Rate rate Period thereof (other than any Special Rate Period of Rate Period Days or any Rate Period succeeding any Special Rate Period of more than 364 Rate Period Days during which a Failure to deposit Deposit occurred that has not been cured), but, prior to 12:00 Noon, New York City time, on the third Business Day next succeeding the date on which such Failure to Deposit occurred, such each Failure to Deposit shall have been cured in accordance with Section 2.8 2.8(c) of the Auction Agency Agreement and the Trust shall have paid to the Auction Agent for such series the applicable Late Charge as described in Section 2.8 2.8(a) of the Auction Agency Agreement, then, if BD is a Broker-Dealer for such series, such Auction Agent shall deliver a notice in the form of Exhibit G to the Auction Agency Agreement by first-class mail, postage prepaid, to BD not later than one Business Day after its receipt of the payment from from, the Trust curing such Failure to Deposit and such Late Charge.

Appears in 1 contract

Samples: Broker Dealer Agreement (BlackRock Preferred & Equity Advantage Trust)

Failure to Deposit. (a) If: (i) any Failure to Deposit shall have occurred with respect to shares of any series of Preferred Shares of the any Trust during any Rate Period thereof (other than any Special Rate Period of Rate Period Days or any Rate Period succeeding any Special Rate Period of more than 364 Rate Period Days during which a Failure to deposit occurred that has not been cured), but, prior to 12:00 Noon, New York City time, on the third Business Day next succeeding the that date on which such Failure to Deposit occurred, such Failure to Deposit shall have been cured in accordance with Section 2.8 of the Auction Agency Agreement and the such Trust shall have paid to the Auction Agent for such series the applicable Late Charge as described in Section 2.8 of the Auction Agency Agreement, then, if BD is a Broker-Dealer for such series, such Auction Agent shall deliver a notice in the form of Exhibit G to the Auction Agency Agreement by first-class mail, postage prepaid, to BD not later than one Business Day after its receipt of the payment from the such Trust curing such Failure to Deposit and such Late Charge.

Appears in 1 contract

Samples: Auction Agent Agreement (Blackrock California Municipal Income Trust)

Failure to Deposit. (a) If: (i) any Failure to Deposit shall have occurred with respect to shares of any series of Preferred Shares AMPS of the Trust during any Rate Period thereof (other than any Special Rate Period of Rate Period Days or any Rate Period succeeding any Special Rate Period of more than 364 Rate Period Days during which a Failure to deposit Deposit occurred that has not been cured), but, prior to 12:00 Noon, New York City time, on the third Business Day next succeeding the date on which such Failure to Deposit occurred, such Failure to Deposit shall have been cured in accordance with Section 2.8 2.8(c) of the Auction Agency Agreement and the Trust shall have paid to the Auction Agent for such series the applicable Late Charge as described in Section 2.8 2.8(a) of the Auction Agency Agreement, then, if BD is a Broker-Dealer for such series, such Auction Agent shall deliver a notice in the form of Exhibit G to the Auction Agency Agreement by first-class mail, postage prepaid, to BD not later than one Business Day after its receipt of the payment from the Trust curing such Failure to Deposit and such Late Charge.

Appears in 1 contract

Samples: Broker Dealer Agreement (Blackrock Preferred Opportunity Trust)

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