Common use of Broker-Dealers Clause in Contracts

Broker-Dealers. (a) Not later than 12:00 noon on each Auction Date, the Fund shall pay to the Auction Agent in federal funds or similar same-day funds an amount in cash equal to the aggregate fees payable to Broker-Dealers pursuant to Section 3.5 of the Broker-Dealer Agreements. The Auction Agent shall apply such moneys as set forth in Section 3.5 of the Broker-Dealer Agreements and shall thereafter remit to the Fund any remaining funds paid to the Auction Agent pursuant to this Section 2.5(a). (b) The Auction Agent shall terminate any Broker-Dealer Agreement as set forth therein if so directed in writing by the Fund. (c) The Auction Agent from time to time shall enter into such Broker-Dealer Agreements as the Fund shall request in writing.