Credit Quality. As of the Effective Date, the Fund has not invested more than 20% of its Managed Assets in Municipal Securities that at the time of investment were rated Below Investment Grade or were unrated but judged to be of comparable quality by the Investment Adviser, provided that the Fund has no investments in securities that are not Municipal Securities that, at the time of investment, were rated Below Investment Grade.
Appears in 7 contracts
Samples: Exchange Agreement (Bank of America Corp /De/), Initial Series a Munifund Preferred Shares Purchase Agreement (Bank of America Corp /De/), Purchase Agreement (Bank of America Corp /De/)
Credit Quality. As of the Effective Date, the Fund has not invested more than 20% of its Managed Assets in Municipal Securities that at the time of investment were rated Below Investment Grade lower than BBB- (or the equivalent) or were unrated by any NRSRO but judged to be of comparable quality by the Investment Adviser, provided that the Fund has no investments in any securities that are not Municipal Securities that, at the time of investment, were rated Below lower than BBB- (or the equivalent) or were unrated by any NRSRO but judged to be of comparable quality by the Investment GradeAdviser.
Appears in 3 contracts
Samples: Series a Munifund Preferred Shares Purchase and Exchange Agreement (Wells Fargo & Company/Mn), Purchase Agreement (Wells Fargo & Company/Mn), Purchase and Exchange Agreement (Wells Fargo & Company/Mn)
Credit Quality. As of the Effective Date, the Fund has not invested more than 20% of its Managed Assets in Municipal Securities that at the time of investment were rated Below Investment Grade or were unrated by any NRSRO but judged to be of comparable quality by the Investment Adviser, provided that the Fund has no investments in any securities that are not Municipal Securities that, at the time of investment, were rated Below Investment GradeGrade or were unrated by any NRSRO but judged to be of comparable quality by the Investment Adviser.
Appears in 2 contracts
Samples: Series 1 Variable Rate Demand Preferred Shares (Vrdp) Remarketing Purchase Agreement (Toronto Dominion Investments, Inc.), Purchase Agreement (Toronto Dominion Investments, Inc.)
