Common use of Auction Schedule Clause in Contracts

Auction Schedule. The Auction Agent shall normally conduct Auctions every 28 days after the first Auction, in the case of the AMPS, in accordance with the schedule set forth below. Such schedule may be changed by the Auction Agent with the consent of the Fund, which consent shall not be withheld unreasonably. The Auction Agent shall give notice of any such change to each Broker-Dealer. Such notice shall be received prior to the first Auction Date on which any such change shall be effective. Time Event ---- ----- By 9:30 am. Auction Agent shall advise the Fund and the Broker-Dealers of Maximum Rate as set forth in Section 2.2(c)(i) hereof. a. m. - 1:00 p.m. Auction Agent shall assemble information communicated to it by Broker-Dealers as provided in Section 3(a) of Part II of the Articles Supplementary. Submission deadline is 1:00 p.m. Not earlier than 1:00 p.m. Auction Agent shall make determinations pursuant to Section 4(a) of Part II of the Articles Supplementary. By approximately 3:30 p.m. Auction Agent shall advise the Fund of the results of the Auction as provided in Section 4(b) of Part II of the Articles Supplementary. Submitted Bid Orders and Submitted Sell Orders will be accepted and rejected in whole or in part and AMPS will be allocated as provided in Section 5 of Part II of the Articles Supplementary. Auction Agent shall give notice of the Auction results as set forth in Section 2.4 hereof. The Auction Agent will follow the Bond Market Association's Market Practice U.S. Holiday Recommendations for shortened trading days for the bond markets (the "BMA Recommendation") unless the Auction Agent is instructed otherwise. In the event of a BMA Recommendation on an Auction Date, the Submission Deadline will be 11:30 a.m., instead of 1:00 p.m., and as a result the notice set forth in Section 2.4 will occur earlier.

Appears in 5 contracts

Samples: Auction Agency Agreement (Cohen & Steers Quality Income Realty Fund Inc), Auction Agency Agreement (Cohen & Steers Advantage Income Realty Fund Inc), Auction Agency Agreement (Cohen & Steers Reit & Utility Income Fund Inc)

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Auction Schedule. The Fund and the Auction Agent shall normally conduct Auctions every 28 days after the first Auction, in the case for each series of the AMPS, Preferred Shares in accordance with the schedule set forth below. Such schedule may be changed by the Auction Agent at the direction of the Fund and with the consent of the FundAuction Agent, which consent shall not be withheld unreasonably. The Auction Agent shall give notice of any such change to each Broker-Dealer. Such notice shall be received prior to the first Auction Date on which any such change shall be effective. Time Event ---- ----- By 9:30 am. Auction Agent shall advise the Fund and the Broker-Dealers of the Maximum Rate as set forth in Section 2.2(c)(i) hereof. a. m. . 9:30 a.m. - 1:00 p.m. Auction Agent shall assemble information communicated to it by Broker-Dealers as provided in Section 3(a) of Part II of the Articles SupplementaryStatement of Preferences. Submission deadline is 1:00 1:30 p.m. Not earlier than 1:00 p.m. Auction Agent shall make determinations pursuant to Section 4(a3(b) of Part II of the Articles Supplementary. By approximately 3:30 p.m. Auction Agent shall advise the Fund Statement of the results of the Auction as provided in Section 4(b) of Part II of the Articles Supplementary. Submitted Bid Orders and Submitted Sell Orders will be accepted and rejected in whole or in part and AMPS will be allocated as provided in Section 5 of Part II of the Articles Supplementary. Auction Agent shall give notice of the Auction results as set forth in Section 2.4 hereofPreferences. The Auction Agent will follow the Bond Market Association's Market Practice U.S. Holiday Recommendations for shortened trading days for the bond markets (the "BMA Recommendation") unless the Auction Agent is instructed otherwise. In the event of a BMA Recommendation on an Auction Date, the Submission Deadline will be 11:30 a.m., instead of 1:00 p.m., and as a result the notice set forth in Section 2.4 will occur earlier.

Appears in 1 contract

Samples: Auction Agency Agreement (Franklin Templeton Limited Duration Income Trust)

Auction Schedule. The Auction Agent shall normally conduct Auctions Auctions, in the case of the Series M7 AMPS, Series T7 AMPS, Series W7 AMPS and Series F7 AMPS every seven (7) days after the first Auction and, in the case of the Series TH28 AMPS every 28 days after the first Auction, in the case of the AMPS, in accordance with the schedule set forth below. Such schedule may be changed by the Auction Agent with the consent of the Fund, which consent shall not be withheld unreasonably. The Auction Agent shall give notice of any such change to each Broker-Dealer. Such notice shall be received prior to the first Auction Date on which any such change shall be effective. Time Event ---- ----- By 9:30 am. Auction Agent shall advise the Fund and the Broker-Dealers of Maximum Rate as set forth in Section 2.2(c)(i) hereof. a. m. - 1:00 p.m. Auction Agent shall assemble information communicated to it by Broker-Dealers as provided in Section 3(a) of Part II of the Articles Supplementary. Submission deadline is 1:00 p.m. Not earlier than 1:00 p.m. Auction Agent shall make determinations pursuant to Section 4(a) of Part II of the Articles Supplementary. By approximately 3:30 p.m. Auction Agent shall advise the Fund of the results of the Auction as provided in Section 4(b) of Part II of the Articles Supplementary. Submitted Bid Orders and Submitted Sell Orders will be accepted and rejected in whole or in part and AMPS will be allocated as provided in Section 5 of Part II of the Articles Supplementary. Auction Agent shall give notice of the Auction results as set forth in Section 2.4 hereof. The Auction Agent will follow the Bond Market Association's Market Practice U.S. Holiday Recommendations for shortened trading days for the bond markets (the "BMA Recommendation") unless the Auction Agent is instructed otherwise. In the event of a BMA Recommendation on an Auction Date, the Submission Deadline will be 11:30 a.m., instead of 1:00 p.m., and as a result the notice set forth in Section 2.4 will occur earlier.

Appears in 1 contract

Samples: Auction Agency Agreement (Cohen & Steers Select Utility Fund Inc)

Auction Schedule. The Auction Agent shall normally conduct Auctions Auctions, in the case of the Series M7 AMPS, and Series F7 AMPS every seven (7) days after the first Auction and, in the case of the Series W28 AMPS every 28 days after the first Auction, in the case of the AMPS, in accordance with the schedule set forth below. Such schedule may be changed by the Auction Agent with the consent of the Fund, which consent shall not be withheld unreasonably. The Auction Agent shall give notice of any such change to each Broker-Dealer. Such notice shall be received prior to the first Auction Date on which any such change shall be effective. Time Event ---- ----- By 9:30 am. a.m. Auction Agent shall advise the Fund and the Broker-Dealers of Maximum Rate as set forth in Section 2.2(c)(i) hereof. a. m. . 9:30 a.m. - 1:00 p.m. Auction Agent shall assemble information communicated to it by Broker-Dealers as provided in Section 3(a2(a) of Part II of the Articles SupplementaryStatement of Preferences. Submission deadline is 1:00 p.m. Not earlier than 1:00 p.m. Auction Agent shall make determinations pursuant to Section 4(a3(a) of Part II of the Articles SupplementaryStatement of Preferences. By approximately 3:30 p.m. Auction Agent shall advise the Fund of the results of the Auction as provided in Section 4(b3(b) of Part II of the Articles SupplementaryStatement of Preferences. Submitted Bid Orders and Submitted Sell Orders will be accepted and rejected in whole or in part and AMPS will be allocated as provided in Section 5 4 of Part II of the Articles SupplementaryStatement of Preferences. Auction Agent shall give notice of the Auction results as set forth in Section 2.4 hereof. The Auction Agent will follow the Bond Market Association's Market Practice U.S. Holiday Recommendations for shortened trading days for the bond markets (the "BMA Recommendation") unless the Auction Agent is instructed otherwise. In the event of a BMA Recommendation on an Auction Date, the Submission Deadline will be 11:30 a.m., instead of 1:00 p.m., and as a result the notice set forth in Section 2.4 will occur earlier.

Appears in 1 contract

Samples: Auction Agency Agreement (Reaves Utility Income Fund)

Auction Schedule. The Auction Agent shall normally conduct Auctions Auctions, in the case of the Series APS every seven (7) days after the first Auction and, in the case of the Series APS every 28 days after the first Auction, in the case of the AMPS, in accordance with the schedule set forth below. Such schedule may be changed by the Auction Agent with the consent of the Fund, which consent shall not be withheld unreasonably. The Auction Agent shall give notice of any such change to each Broker-Dealer. Such notice shall be received prior to the first Auction Date on which any such change shall be effective. Time Event ---- ----- By 9:30 am. Auction Agent shall advise the Fund and the Broker-Dealers of Maximum Rate as set forth in Section 2.2(c)(i) hereof. a. m. - 1:00 p.m. Auction Agent shall assemble information communicated to it by Broker-Dealers as provided in Section 3(a) of Part II of the Articles Supplementary. Submission deadline is 1:00 p.m. Not earlier than 1:00 p.m. Auction Agent shall make determinations pursuant to Section 4(a) of Part II of the Articles Supplementary. By approximately 3:30 p.m. Auction Agent shall advise the Fund of the results of the Auction as provided in Section 4(b) of Part II of the Articles Supplementary. Submitted Bid Orders and Submitted Sell Orders will be accepted and rejected in whole or in part and AMPS APS will be allocated as provided in Section 5 of Part II of the Articles Supplementary. Auction Agent shall give notice of the Auction results as set forth in Section 2.4 hereof. The Auction Agent will follow the Bond Market Association's Market Practice U.S. Holiday Recommendations for shortened trading days for the bond markets (the "BMA Recommendation") unless the Auction Agent is instructed otherwise. In the event of a BMA Recommendation on an Auction Date, the Submission Deadline will be 11:30 a.m., instead of 1:00 p.m., and as a result the notice set forth in Section 2.4 will occur earlier.

Appears in 1 contract

Samples: Auction Agency Agreement (Cohen & Steers Worldwide Realty Income Fund, Inc.)

Auction Schedule. The Auction Agent shall normally conduct Auctions every 28 7 days after the first Auction, in the case of the AMPS, in accordance with the schedule set forth below. Such schedule may be changed by the Auction Agent with the consent of the Fund, which consent shall not be withheld unreasonably. The Auction Agent shall give notice of any such change to each Broker-Dealer. Such notice shall be received prior to the first Auction Date on which any such change shall be effective. Time Event ---- ----- By 9:30 am. Auction Agent shall advise the Fund and the Broker-Dealers of Maximum Rate as set forth in Section 2.2(c)(i) hereof. a. m. - 1:00 p.m. Auction Agent shall assemble information communicated to it by Broker-Dealers as provided in Section 3(a) of Part II of the Articles Supplementary. Submission deadline is 1:00 p.m. Not earlier than 1:00 p.m. Auction Agent shall make determinations pursuant to Section 4(a) of Part II of the Articles Supplementary. By approximately 3:30 p.m. Auction Agent shall advise the Fund of the results of the Auction as provided in Section 4(b) of Part II of the Articles Supplementary. Submitted Bid Orders and Submitted Sell Orders will be accepted and rejected in whole or in part and AMPS will be allocated as provided in Section 5 of Part II of the Articles Supplementary. Auction Agent shall give notice of the Auction results as set forth in Section 2.4 hereof. The Auction Agent will follow the Bond Market Association's Market Practice U.S. Holiday Recommendations for shortened trading days for the bond markets (the "BMA Recommendation") unless the Auction Agent is instructed otherwise. In the event of a BMA Recommendation on an Auction Date, the Submission Deadline will be 11:30 a.m., instead of 1:00 p.m., and as a result the notice set forth in Section 2.4 will occur earlier.

Appears in 1 contract

Samples: Auction Agency Agreement (Cohen & Steers Select Utility Fund Inc)

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Auction Schedule. The Auction Agent shall normally conduct Auctions every 28 days after the first Auction, in the case of the AMPS, in accordance with the schedule set forth below. Such schedule may be changed by the Auction Agent with the consent of the Fund, which consent shall not be withheld unreasonably. The Auction Agent shall give notice of any such change to each Broker-Dealer. Such notice shall be received prior to the first Auction Date on which any such change shall be effective. Time Event ---- ----- By 9:30 am. a.m. Auction Agent shall advise the Fund and the Broker-Dealers of Maximum Rate as set forth in Section 2.2(c)(i) hereof. a. m. . 9:30 a.m. - 1:00 1:30 p.m. Auction Agent shall assemble information communicated to it by Broker-Dealers as provided in Section 3(a2(a) of Part II of the Articles SupplementaryStatement of Preferences. Submission deadline is 1:00 1:30 p.m. Not earlier than 1:00 1:30 p.m. Auction Agent shall make determinations pursuant to Section 4(a3(a) of Part II of the Articles SupplementaryStatement of Preferences. By approximately 3:30 p.m. Auction Agent shall advise the Fund of the results of the Auction as provided in Section 4(b3(b) of Part II of the Articles SupplementaryStatement of Preferences. Submitted Bid Orders and Submitted Sell Orders will be accepted and rejected in whole or in part and AMPS will be allocated as provided in Section 5 4 of Part II of the Articles SupplementaryStatement of Preferences. Auction Agent shall give notice of the Auction results as set forth in Section 2.4 hereof. The Auction Agent will follow the Bond Market Association's Market Practice U.S. Holiday Recommendations for shortened trading days for the bond markets (the "BMA Recommendation") unless the Auction Agent is instructed otherwise. In the event of a BMA Recommendation on an Auction Date, the Submission Deadline will be 11:30 a.m., instead of 1:00 1:30 p.m., and as a result the notice set forth in Section 2.4 will occur earlier.

Appears in 1 contract

Samples: Auction Agency Agreement (Clough Global Allocation Fund)

Auction Schedule. The Auction Agent shall normally conduct Auctions every 28 days after on the first Auction, in Business Day immediately prior to the case start of the AMPS, each Dividend Period in accordance with the schedule set forth below. Such schedule may be changed by the Auction Agent with the consent of the FundCompany, which consent shall not be withheld unreasonably. The Auction Agent shall give notice of any such change to each Broker-Dealer. Such notice shall be received prior to the first Auction Date on which any such change shall be effective. Time Event ---- ----- ----------------------------------------------- ------------------------- By 9:30 am. a.m. The Auction Agent shall advise the Fund Company and the Broker-Dealers of the Reference Rate and the Maximum Rate as set forth in Section 2.2(c)(i2.2(d) hereof. a. m. . The Auction Agent shall 9:30 a.m. - 1:00 p.m. Auction Agent shall assemble information communicated to it by Broker-Dealers as provided in Section 3(a) 2 of Part II of the Articles Supplementary. Submission deadline Deadline is 1:00 p.m. Not earlier than 1:00 p.m. The Auction Agent shall make determinations pursuant to Section 4(a) 3 of Part II of the Articles Supplementary. By approximately 3:30 3:00 p.m. The Auction Agent shall advise the Fund Company of the results of the Auction as provided in Section 4(b3(b) of Part II of the Articles Supplementary. Submitted Bid Orders and Submitted Sell Orders will be accepted and rejected in whole or in part and AMPS MMP Shares will be allocated as provided in Section 5 4 of Part II of the Articles Supplementary. The Auction Agent shall give notice of the Auction results as set forth in Section 2.4 hereof. The Auction Agent will follow the Bond Market Association's Market Practice U.S. Holiday Recommendations for shortened trading days for the bond markets (the "BMA Recommendation") unless the Auction Agent is instructed otherwise. In the event of a BMA Recommendation on an Auction Date, the Submission Deadline will be 11:30 a.m., instead of 1:00 p.m., and as a result result, the notice set forth in Section 2.4 will occur earlier.

Appears in 1 contract

Samples: Auction Agency Agreement (Tortoise Energy Capital Corp)

Auction Schedule. The Auction Agent shall normally conduct Auctions Auctions, in the case of the Series M28 AMPS every 28 days after the first AuctionAuction and, in the case of the AMPSSeries F7 AMPS days every seven (7) after the first Auction, in accordance with the schedule set forth below. Such schedule may be changed by the Auction Agent with the consent of the Fund, which consent shall not be withheld unreasonably. The Auction Agent shall give notice of any such change to each Broker-Dealer. Such notice shall be received prior to the first Auction Date on which any such change shall be effective. Time Event ---- ----- By 9:30 am. a.m. Auction Agent shall advise the Fund and the Broker-Dealers of Maximum Rate as set forth in Section 2.2(c)(i) hereof. a. m. - 1:00 . 9:30 a.m.–1:30 p.m. Auction Agent shall assemble information communicated to it by Broker-Dealers as provided in Section 3(a2(a) of Part II of the Articles SupplementaryStatement of Preferences. Submission deadline is 1:00 1:30 p.m. Not earlier than 1:00 1:30 p.m. Auction Agent shall make determinations pursuant to Section 4(a3(a) of Part II of the Articles SupplementaryStatement of Preferences. By approximately 3:30 p.m. Auction Agent shall advise the Fund of the results of the Auction as provided in Section 4(b3(b) of Part II of the Articles SupplementaryStatement of Preferences. Submitted Bid Orders and Submitted Sell Orders will be accepted and rejected in whole or in part and AMPS will be allocated as provided in Section 5 4 of Part II of the Articles SupplementaryStatement of Preferences. Auction Agent shall give notice of the Auction results as set forth in Section 2.4 hereof. The Auction Agent will follow the Bond Market Association's Market Practice U.S. Holiday Recommendations for shortened trading days for the bond markets (the "BMA Recommendation") unless the Auction Agent is instructed otherwise. In the event of a BMA Recommendation on an Auction Date, the Submission Deadline will be 11:30 a.m., instead of 1:00 1:30 p.m., and as a result the notice set forth in Section 2.4 will occur earlier.

Appears in 1 contract

Samples: Auction Agency Agreement (Clough Global Equity Fund)

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