Common use of Additional Fee for Failure to Comply with Reporting Requirement or Registration Clause in Contracts

Additional Fee for Failure to Comply with Reporting Requirement or Registration. Rights Failure For so long as Banc of America is a Holder or Designated Owner of any Outstanding New VMTP Shares, if the Fund fails to comply with the reporting requirements set forth in Sections 6.1(o) and 6.1(p) (except as a result of a Force Majeure Exception) and such failure is not cured within three (3) Business Days after written notification to the Fund by Banc of America of such failure (a “Reporting Failure”) or a Registration Rights Failure occurs, the Fund shall pay to Banc of America on the Dividend Payment Date occurring in the month immediately following a month in which either such Reporting Failure or Registration Failure (either, a “Failure”) continues a fee, calculated in respect of each Week (or portion thereof) during such month in respect of a Failure and beginning on the date of such Failure, equal to the product of (a) the Fee Rate, times (b) the aggregate average daily Liquidation Preference of the New VMTP Shares held by Banc of America during such Week or portion thereof, times (c) the quotient of the number of days in such Week or portion thereof divided by the number of calendar days in the year in which such Week or portion thereof occurs. If such fee is an “other distribution” pursuant to the Statement, such fee shall be paid pursuant to and in accordance with the Statement, including Section 2.2(c) of the Statement. Notwithstanding the foregoing, in no event shall (i) the fee payable pursuant to this Section 2.5 hereunder for any Week plus the Applicable Spread on the New VMTP Shares for such Week exceed an amount exclusive of any Additional Amount Payment equal to the product of (x) 5.90%, times (y) the aggregate average daily Liquidation Preference of the New VMTP Shares held by Banc of America during such Week or portion thereof, times (z) the quotient of the number of days in such Week or portion thereof divided by the number of calendar days in the year in which such Week or portion thereof occurs; (ii) the fee payable pursuant to this Section 2.5 for any Week plus the amount of dividends payable at the Dividend Rate for the New VMTP Shares for such Week exceed an amount equal to the product of (aa) 15%, times (bb) the aggregate average daily Liquidation Preference of the New VMTP Shares held by Banc of America during such Week or portion thereof, times (cc) the quotient of the number of days in such Week or portion thereof divided by the number of calendar days in the year in which such Week or portion thereof occurs; or (iii) the Fund be required to calculate or pay a fee in respect of more than one Failure in any Week.

Additional Fee for Failure to Comply with Reporting Requirement or Registration. Rights Failure For so long as Banc of America either Purchaser is a Holder or Designated Owner of any Outstanding New VMTP Shares, if the Fund fails to comply with the reporting requirements set forth in Sections 6.1(o) and 6.1(p) (except as a result of a Force Majeure Exception) and such failure is not cured within three (3) Business Days after written notification to the Fund by Banc of America either Purchaser of such failure (a “Reporting Failure”) or a Registration Rights Failure occurs, the Fund shall pay to Banc of America each Purchaser on the Dividend Payment Date occurring in the month immediately following a month in which either such Reporting Failure or Registration Failure (either, a “Failure”) continues a fee, fee calculated in respect of each Week (or portion thereof) during such month in respect of a Failure and beginning on the date of such Failure, equal to the product of (a) the Fee Rate, times (b) the aggregate average daily Liquidation Preference of the New VMTP Shares held by Banc of America such Purchaser during such Week or portion thereof, times (c) the quotient of the number of days in such Week or portion thereof divided by the number of calendar days in the year in which such Week or portion thereof occurs. If such fee is an “other distribution” pursuant to the Statement, such fee shall be paid pursuant to and in accordance with the Statement, including Section 2.2(c) of the Statement. Notwithstanding the foregoing, in no event shall (i) the fee payable pursuant to this Section 2.5 2.4 hereunder for any Week plus the Applicable Spread on the New VMTP Shares for such Week exceed an amount (exclusive of any Additional Amount Payment and any Additional Michigan Amount Payment) equal to the product of (x) 5.905.93%, times (y) the aggregate average daily Liquidation Preference of the New VMTP Shares held by Banc of America such Purchaser during such Week or portion thereof, times (z) the quotient of the number of days in such Week or portion thereof divided by the number of calendar days in the year in which such Week or portion thereof occurs; (ii) the fee payable pursuant to this Section 2.5 2.4 for any Week plus the amount of dividends payable at the Dividend Rate for the New VMTP Shares for such Week exceed an amount equal to the product of (aa) 15%, times (bb) the aggregate average daily Liquidation Preference of the New VMTP Shares held by Banc of America such Purchaser during such Week or portion thereof, times (cc) the quotient of the number of days in such Week or portion thereof divided by the number of calendar days in the year in which such Week or portion thereof occurs; or (iii) the Fund be required to calculate or pay a fee in respect of more than one Failure in any Week.

Additional Fee for Failure to Comply with Reporting Requirement or Registration. Rights Failure (a) For so long as Banc of America the Purchaser is a Holder or Designated Owner of any Outstanding New VMTP Shares, if the Fund Issuer fails to comply with the reporting requirements set forth in Sections 6.1(o) and 6.1(p) (except as a result of a Force Majeure Exception) and such failure is not cured within three seven (37) Business Days after written notification to the Fund Issuer by Banc of America the Purchaser of such failure (a “"Reporting Failure”") or a Registration Rights Failure occurs, and such failure is not cured within seven (7) Business Days after written notification to the Fund Issuer by the Purchaser of such failure, the Issuer shall pay to Banc of America the Purchaser on the Dividend Payment Date occurring in the month immediately following a month in which either such Reporting Failure or Registration Failure (either, a “"Failure”") continues a fee, calculated in respect of each Week (or portion thereof) during such month in respect of a Failure and beginning on the date of such Failure, equal to the product of (ai) the Fee Rate, times (bii) the aggregate average daily Liquidation Preference of the New VMTP Shares held by Banc of America the Purchaser during such Week or portion thereof, times (ciii) the quotient of the number of days in such Week or portion thereof divided by the number of calendar days in the year in which such Week or portion thereof occurs. If such fee is an “other distribution” pursuant to the Statement, such fee shall be paid pursuant to and in accordance with the Statement, including Section 2.2(c) of the Statement. Notwithstanding the foregoing, in no event shall (i) the fee payable pursuant to this Section 2.5 2.4 hereunder for any Week plus the Applicable Spread on the New VMTP Shares for such Week exceed an amount (exclusive of any Additional Amount Payment Gross-Up Payment) equal to the product of (x) 5.9015%, times (y) the aggregate average daily Liquidation Preference of the New VMTP Shares held by Banc of America the Purchaser during such Week or portion thereof, times (z) the quotient of the number of days in such Week or portion thereof divided by the number of calendar days in the year in which such Week or portion thereof occurs; (ii) the fee payable pursuant to this Section 2.5 2.4 for any Week plus the amount of dividends payable at the Dividend Rate for the New VMTP Shares for such Week exceed an amount equal to the product of (aa) 15%, times (bb) the aggregate average daily Liquidation Preference of the New VMTP Shares held by Banc of America the Purchaser during such Week or portion thereof, times (cc) the quotient of the number of days in such Week or portion thereof divided by the number of calendar days in the year in which such Week or portion thereof occurs; or (iii) the Fund Issuer be required to calculate or pay a fee in respect of more than one Failure in any Week.