Common use of Auction Schedule; Method of Submission of Orders Clause in Contracts

Auction Schedule; Method of Submission of Orders. (a) Each Fund and the Auction Agent for such Fund shall conduct Auctions for MuniPreferred in accordance with the schedule set forth below. Such schedule with respect to any series of MuniPreferred of any Fund may be changed by the Auction Agent for such series with the consent of such Fund, which consent shall not be unreasonably withheld. Such Auction Agent shall give written notice of any such change to each Broker-Dealer of such series. Such notice shall be given prior to the close of business on the Business Day next preceding the first Auction Date on which such change shall be effective. Time Event ---- ----- By 9:30 A.M. Auction Agent for such series advises such Fund and the Broker-Dealers for such series of the applicable Maximum Rate and the Reference Rate(s) and Treasury Note Rate(s), as the case may be, used in determining such Maximum Rate as set forth in Section 2.2(a) hereof.

Appears in 25 contracts

Samples: Broker Dealer Agreement (Nuveen Premium Income Municipal Fund Inc), Broker Dealer Agreement (Nuveen California Quality Income Municipal Fund Inc), Broker Dealer Agreement (Nuveen Michigan Quality Income Municipal Fund Inc)

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Auction Schedule; Method of Submission of Orders. (a) Each Fund Trust and the Auction Agent for such Fund Trust shall conduct Auctions for MuniPreferred Municipal Preferred in accordance with the schedule set forth below. Such schedule with respect to any series of MuniPreferred Municipal Preferred of any Fund Trust may be changed by the Auction Agent for such series with the consent of such FundTrust, which consent shall not be unreasonably withheld. Such Auction Agent shall give written notice of any such change to each Broker-Dealer of such series. Such notice shall be given prior to the close of business on the Business Day next preceding the first Auction Date on which such change shall be effective. Time Event ---- ----- By 9:30 A.M. Auction Agent for such series advises such Fund Trust and the Broker-Dealers for such series of the applicable Maximum Rate and the Reference Rate(s) and Treasury Note Rate(s), as the case may be, used in determining such Maximum Rate as set forth in Section 2.2(a) hereof.

Appears in 1 contract

Samples: Broker Dealer Agreement (Colonial New York Insured Municipal Fund)

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