Common use of CURING A FAILURE TO DEPOSIT Clause in Contracts

CURING A FAILURE TO DEPOSIT. A Failure to Deposit with respect to shares of a series of Municipal Preferred shall have been cured (if such Failure to Deposit is not solely due to the willful failure of the Trust to make the required payments to the Auction Agent) with respect to any Rate Period of shares of such series if, within the respective time periods described in subparagraph (e)(i) of this paragraph 2, the Trust shall have paid to the Auction Agent (A) all accumulated and unpaid dividends on shares of such series and (B) without duplication, the Redemption Price for shares, if any, of such series for which Notice of Redemption has been mailed by the Trust pursuant to paragraph 11(c) of Part I of this Section 12.1; provided, however, that the foregoing clause (B) shall not apply to the Trust's failure to pay the Redemption Price in respect of shares of Municipal Preferred when the related Redemption Notice provides that redemption of such shares is subject to one or more conditions precedent and any such condition precedent shall not have been satisfied at the time or times and in the manner specified in such Notice of Redemption.

CURING A FAILURE TO DEPOSIT. A Failure to Deposit with respect to shares of a series of Municipal Preferred Shares shall have been cured (if such Failure to Deposit is not solely due to the willful failure of the Trust to make the required payments payment to the Auction Agent) with respect to any Rate Period of shares of such series the Series if, within the respective time periods described in subparagraph (e)(i) of this paragraph Section 2, the Trust shall have paid to the Auction Agent (A) all accumulated and unpaid dividends distributions on shares of such series the Series and (B) without duplication, the Redemption Price for shares, if any, of such series the Series for which Notice of Redemption has been mailed by the Trust pursuant to paragraph 11(c(c) of Section 11 of Part I of this Section 12.1Article X of these Bylaws; providedPROVIDED, howeverHOWEVER, that the foregoing clause (B) shall not apply to the Trust's failure to pay the Redemption Price in respect of shares of Municipal Preferred Shares when the related Redemption Notice provides that redemption of such shares Preferred Shares is subject to one or more conditions precedent and any such condition precedent shall not have been satisfied at the time or times and in the manner specified in such Notice of Redemption.

CURING A FAILURE TO DEPOSIT. A Failure to Deposit with respect to shares of a series of Municipal Preferred Shares shall have been cured (if such Failure to Deposit is not solely due to the willful failure of the Trust to make the required payments payment to the Auction Agent) with respect to any Rate Period of shares of such series the Series if, within the respective time periods described in subparagraph (e)(i) of this paragraph Section 2, the Trust shall have paid to the Auction Agent (A) all accumulated and unpaid dividends distributions on shares of such series the Series and (B) without duplication, the Redemption Price for shares, if any, of such series the Series for which Notice of Redemption has been mailed by the Trust pursuant to paragraph 11(c(c) of Section 11 of Part I of this Section 12.1Article X of these Bylaws; provided, however, that the foregoing clause (B) shall not apply to the Trust's failure to pay the Redemption Price in respect of shares of Municipal Preferred Shares when the related Redemption Notice provides that redemption of such shares Preferred Shares is subject to one or more conditions precedent and any such condition precedent shall not have been satisfied at the time or times and in the manner specified in such Notice of Redemption.

CURING A FAILURE TO DEPOSIT. A Failure to Deposit with respect to shares of a series of Municipal Preferred Shares shall have been cured (if such Failure to Deposit is not solely due to the willful failure of the Trust to make the required payments payment to the Auction Agent) with respect to any Rate Period of shares of such series the Series if, within the respective time periods described in subparagraph (e)(i) of this paragraph Section 2, the Trust shall have paid to the Auction Agent (A) all accumulated and unpaid dividends distributions on shares of such series the Series and (B) without duplication, the Redemption Price for shares, if any, of such series the Series for which Notice of Redemption has been mailed by the Trust pursuant to paragraph 11(c(c) of Section 11 of Part I of this Section 12.1Article X of these Bylaws; providedPROVIDED, howeverHOWEVER, that the foregoing clause (B) shall not apply to the Trust's failure to pay the Redemption Price in respect -40- of shares of Municipal Preferred Shares when the related Redemption Notice provides that redemption of such shares Preferred Shares is subject to one or more conditions precedent and any such condition precedent shall not have been satisfied at the time or times and in the manner specified in such Notice of Redemption.

CURING A FAILURE TO DEPOSIT. A Failure to Deposit with respect to shares of a series of Municipal Preferred Shares shall have been cured (if such Failure to Deposit is not solely due to the willful failure of the Trust to make the required payments payment to the Auction Agent) with respect to any Rate Period of shares of such series any Series if, within the respective time periods described in subparagraph (e)(i) of this paragraph Section 2, the Trust shall have paid to the Auction Agent (A) all accumulated and unpaid dividends distributions on shares of such series Series and (B) without duplication, the Redemption Price for shares, if any, of such series Series for which Notice of Redemption has been mailed by the Trust pursuant to paragraph 11(c(c) of Section 11 of Part I of this Section 12.1Article X; provided, however, that the foregoing clause (B) shall not apply to the Trust's ’s failure to pay the Redemption Price in respect of shares of Municipal Preferred Shares when the related Redemption Notice provides that redemption of such shares Preferred Shares is subject to one or more conditions precedent and any such condition precedent shall not have been satisfied at the time or times and in the manner specified in such Notice of Redemption.

CURING A FAILURE TO DEPOSIT. A Failure to Deposit with respect to shares of a series of Municipal Preferred Shares shall have been cured (if such Failure to Deposit is not solely due to the willful failure of the Trust Fund to make or cause to be made the required payments payment to the Auction AgentDepositary) with respect to any Rate Period of shares of such series if, within the respective time periods period described in subparagraph (e)(iSection 2(e)(2)(B) of Part I of this paragraph 2Statement, the Trust shall have paid Fund has paid, or cause to be paid, to the Auction Agent Depositary (Ai) all accumulated and unpaid dividends on shares of such series and (Bii) without duplication, the Redemption Price for shares, if any, of such series for which Notice of Redemption has been mailed by the Trust Fund pursuant to paragraph 11(cSection 7(c) of Part I of this Section 12.1Statement; provided, however, that the foregoing clause (Bii) shall not apply to the TrustFund's or the Credit Enhancer's failure to pay the Redemption Price in respect of shares of Municipal Preferred Shares when the related Redemption Notice provides that redemption of such shares is subject to one or more conditions precedent and until any such condition precedent precedent(s) shall not have been satisfied at the time or times and in the manner specified in such Notice of Redemption.

CURING A FAILURE TO DEPOSIT. A Failure to Deposit with respect to shares of a series of Municipal Preferred shall have been cured (if such Failure to Deposit is not solely due to the willful failure of the Trust to make the required payments to the Auction Agent) with respect to any Rate Period of shares of such series if, within the respective time periods described in subparagraph (e)(i) of this paragraph 2, the Trust shall have paid to the Auction Agent (A) all accumulated and unpaid dividends on shares of such series and (B) without duplication, the Redemption Price for shares, if any, of such series for which Notice of Redemption has been mailed by the Trust pursuant to paragraph 11(c) of Part I of this Section 12.1; provided, however, that the foregoing clause (B) shall not apply to the Trust's failure to pay the Redemption Price in respect of shares of Municipal Preferred when the related Redemption Notice provides that redemption of such shares is subject to one or more conditions precedent and any such condition precedent shall not have been satisfied at the time or times and in the manner specified in such Notice of Redemption.condition

CURING A FAILURE TO DEPOSIT. A Failure to Deposit with respect to shares of a series of Municipal Preferred Shares shall have been cured (if such Failure to Deposit is not solely due to the willful failure of the Trust to make the required payments payment to the Auction Agent) with respect to any Rate Period of shares of such series the Series if, within the respective time periods described in subparagraph (e)(i) of this paragraph Section 2, the Trust shall have paid to the Auction Agent (A) all accumulated and unpaid dividends distributions on shares of such series the Series and (B) without duplication, the Redemption Price for shares, if any, of such series the Series for which Notice of Redemption has been mailed by the Trust pursuant to paragraph 11(c(c) of Section 11 of Part I of this Section 12.1Article X of these Bylaws; providedPROVIDED, howeverHOWEVER, that the 39 foregoing clause (B) shall not apply to the Trust's failure to pay the Redemption Price in respect of shares of Municipal Preferred Shares when the related Redemption Notice provides that redemption of such shares Preferred Shares is subject to one or more conditions precedent and any such condition precedent shall not have been satisfied at the time or times and in the manner specified in such Notice of Redemption.

CURING A FAILURE TO DEPOSIT. A Failure to Deposit with respect to shares of a series of Municipal Preferred Shares shall have been cured (if such Failure to Deposit is not solely due to the willful failure of the Trust to make the required payments payment to the Auction Agent) with respect to any Rate Period of shares of such series the Series if, within the respective time periods described in subparagraph (e)(i) of this paragraph Section 2, the Trust shall have paid to the Auction Agent (A) all accumulated and unpaid dividends distributions on shares of such series the Series and (B) without duplication, the Redemption Price for shares, if any, of such series the Series for which Notice of Redemption has been mailed by the Trust pursuant to paragraph 11(c(c) of Section 11 of Part I of this Section 12.1Article X of these Bylaws; provided, howeverHOWEVER, that the foregoing clause (B) shall not apply to the Trust's failure to pay the Redemption Price in respect of shares of Municipal Preferred Shares when the related Redemption Notice provides that redemption of such shares Preferred Shares is subject to one or more conditions precedent and any such condition precedent shall not have been satisfied at the time or times and in the manner specified in such Notice of Redemption.

CURING A FAILURE TO DEPOSIT. A Failure to Deposit with respect to shares of a series of Municipal Preferred Shares shall have been cured (if such Failure to Deposit is not solely due to the willful failure of the Trust to make the required payments payment to the Auction Agent) with respect to any Rate Period of shares of such series any Series if, within the respective time periods described in subparagraph (e)(i) of this paragraph Section 2, the Trust shall have paid to the Auction Agent (A) all accumulated and unpaid dividends distributions on shares of such series Series and (B) without duplication, the Redemption Price for shares, if any, of such series Series for which Notice of Redemption has been mailed by the Trust pursuant to paragraph 11(c(c) of Section 11 of Part I of this Section 12.1Article X of these Bylaws; provided, however, that the foregoing clause (B) shall not apply to the Trust's failure to pay the Redemption Price in respect of shares of Municipal Preferred Shares when the related Redemption Notice provides that redemption of such shares Preferred Shares is subject to one or more conditions precedent and any such condition precedent shall not have been satisfied at the time or times and in the manner specified in such Notice of Redemption.

CURING A FAILURE TO DEPOSIT. A Failure to Deposit with respect to shares of a series of Municipal Preferred Shares shall have been cured (if such Failure to Deposit is not solely due to the willful failure of the Trust to make the required payments payment to the Auction Agent) with respect to any Rate Period of shares of such series if, within the respective time periods described in subparagraph (e)(i) of this paragraph 22(e)(i), the Trust shall have paid to the Auction Agent (A) all accumulated and unpaid dividends on shares of such series and (B) without duplication, the Redemption Price for shares, if any, of such series for which Notice of Redemption has been mailed by the Trust pursuant to paragraph 11(c) of Part I of this Section 12.1; provided, however, that the foregoing clause (B) shall not apply to the Trust's failure to pay the Redemption Price in respect of shares of Municipal Preferred Shares when the related Notice of Redemption Notice provides that redemption of such shares is subject to one or more conditions precedent and any such condition precedent shall not have been satisfied at the time or times and in the manner specified in such Notice of Redemption.

CURING A FAILURE TO DEPOSIT. A Failure to Deposit with respect to shares of a series of Municipal Preferred MuniPreferred shall have been cured (if such Failure to Deposit is not solely due to the willful failure of the Trust Fund to make the required payments payment to the Auction Agent) with respect to any Rate Period of shares of such series if, within the respective time periods described in subparagraph (e)(i) of this paragraph Section 2, the Trust Fund shall have paid to the Auction Agent (A) all accumulated and unpaid dividends on shares of such series and (B) without duplication, the Redemption Price for shares, if any, of such series for which Notice of Redemption has been mailed by the Trust Fund pursuant to paragraph 11(c(c) of Section 11 of Part I of this Section 12.1Statement; provided, however, that the foregoing clause (B) shall not apply to the Trust's Fund’s failure to pay the Redemption Price in respect of shares of Municipal Preferred MuniPreferred when the related Redemption Notice provides that redemption of such shares is subject to one or more conditions precedent and any such condition precedent shall not have been satisfied at the time or times and in the manner specified in such Notice of Redemption.