Common use of Designation of Special Dividend Period Clause in Contracts

Designation of Special Dividend Period. (a) The APS Provisions will provide that, subject to the Fund's option to designate a Special Dividend Period as referred to in paragraph (b) of this Section 2.5, (i) each Rate Period will consist of 6 months for APS Series A and APS Series B and (ii) each Rate Period following a Rate Period of any series of APS that is other than a Minimum Dividend Period will be 6 months for APS Series A and APS Series B. Not less than 10 nor more than 20 days prior to the last day of any such Rate Period that is not a Minimum Dividend Period, (i) the Fund shall deliver to the Auction Agent a notice of the Auction Date of the next succeeding Auction for such series in the form of Exhibit E hereto and (ii) the Auction Agent shall deliver such notice by first-class mail, postage prepaid, to each Existing Holder of shares of such series at the address specified in such Existing Holder's Master Purchaser's Letter and to the Broker-Dealers for such series as promptly as practicable after its receipt of such notice from the Fund. (b) Pursuant to the APS Provisions, the Fund may, at its option, designate a Special Dividend Period for any series of APS in the manner described in Section 4 of Part I of the APS Provisions. (i) If the Fund proposes to designate any succeeding Subsequent Dividend Period of any series of APS as a Special Dividend Period of more than 28 Rate Period Days, (A) the Fund shall deliver to the Auction Agent a notice of such proposed Special Dividend Period in the form of Exhibit F hereto not less than 20 nor more than 30 days prior to the first day of such proposed Special Dividend Period and (B) the Auction Agent on behalf of the Fund shall deliver such notice by first-class mail, postage prepaid, to each Existing Holder of shares of such series of APS at the address specified in such Existing Holder's Master Purchaser's Letter and to the Broker-Dealers for such series as promptly as practicable after its receipt of such notice from the Fund. (ii) If the Board of Trustees determines to designate such succeeding Subsequent Dividend Period as a Special Dividend Period, (A) the Fund shall deliver to the Auction Agent a notice of such determination in the form of Exhibit G hereto no later than

Designation of Special Dividend Period. (a) The APS Provisions will provide that, subject to the Fund's option to designate a Special Dividend Period as referred to in paragraph (b) of this Section 2.5, (i) each Rate Period of any series of APS will consist be a Minimum Dividend Period (a duration of 6 months for 28 Rate Period Days, subject to certain exceptions with respect to APS Series A A, APS Series B, APS Series C and APS Series B D and (ii) each Rate Period following a Rate Period of any series of APS that is other than a Minimum Dividend Period will be 6 months for APS Series A and APS Series B. a Minimum Dividend Period. Not less than 10 nor more than 20 days prior to the last day of any such Rate Period that is not a Minimum Dividend Period, (i) the Fund shall deliver to the Auction Agent a notice of the Auction Date of the next succeeding Auction for such series in the form of Exhibit E hereto and (ii) the Auction Agent shall deliver such notice by first-class mail, postage prepaid, to each Existing Holder of shares of such series at the address specified in such Existing Holder's Master Purchaser's Letter and to the Broker-Dealers for such series as promptly as practicable after its receipt of such notice from the Fund. (b) Pursuant to the APS Provisions, the Fund may, at its option, designate a Special Dividend Period for any series of APS in the manner described in Section 4 of Part I of the APS Provisions. (i) If if the Fund proposes to designate any succeeding Subsequent Dividend Period of any series of APS as a Special Dividend Period of more than 28 Rate Period Days, (A) the Fund shall deliver to the Auction Agent a notice of such proposed Special Dividend Period in the form of Exhibit F hereto not less than 20 nor more than 30 days prior to the first day of such proposed Special Dividend Period and (B) the Auction Agent on behalf of the Fund shall deliver such notice by first-class mail, postage prepaid, to each Existing Holder of shares of such series of APS at the address specified in such Existing Holder's Master Purchaser's Letter and to the Broker-Dealers for such series as promptly as practicable practi- Draft February 24, 1992 __:__ PM cable after its receipt of such notice from the Fund. (ii) If the Board of Trustees determines to designate such succeeding Subsequent Dividend Period as a Special Dividend Period, (A) the Fund shall deliver to the Auction Agent a notice of such determination in the form of Exhibit G hereto no not later thanthan 11:00 A.M. on the second Business Day next preceding the first day of such proposed Special Dividend Period and (B) the Auction Agent shall deliver such notice to the Broker-Dealers for such series not later than 3:00 P.M. on such second Business Day. (iii) If the Fund shall deliver to the Auction Agent a notice stating that the Fund has determined not to exercise its option to designate such succeeding Subsequent Dividend Period as a Special Dividend Period with respect to which it has delivered a notice in the form of Exhibit F hereto not later than 11:00 A.M. on the second Business Day next preceding the first day of such proposed Special Dividend Period, or shall fail to timely deliver either such notice or a notice in the form of Exhibit G hereto, the Auction Agent shall deliver a notice in the form of Exhibit H hereto to the Broker-Dealers for such series not later than 3:00 P.M. on such second Business Day. A change in the length of a Rate Period to a Rate Period of more than 28 Rate Period Days shall not occur if (a)- on the Auction Date next preceding the first day of such Special Dividend Period Sufficient Clearing Bids shall not exist or (b) a Failure to Deposit shall have occurred prior to such change with respect to shares of such series of APS and shall not have been cured in accordance with the APS Provisions.

Designation of Special Dividend Period. (a) The APS Provisions will provide that, subject to the Fund's option to designate No designation is necessary for a Special Dividend Period as referred to in paragraph (b) of this Section 2.5, (i) each Rate Period will consist of 6 months for APS Series A and APS Series B and (ii) each Rate Period following a Rate Period of any series of APS that is other than a Minimum Dividend Period will be 6 months for APS Series A and APS Series B. Not less than 10 nor more than 20 days prior to the last day of any such Rate Period that is not a Minimum Standard Dividend Period, (i) the Fund which shall deliver to the Auction Agent a notice of the Auction Date of the next succeeding Auction for such series in the form of Exhibit E hereto and (ii) the Auction Agent shall deliver such notice by first-class mail, postage prepaid, to each Existing Holder of shares of such series at the address specified in such Existing Holder's Master Purchaser's Letter and to the Broker-Dealers for such series as promptly as practicable after its receipt of such notice from the Fundlast seven calendar days. (b) Pursuant to the APS ProvisionsStatement of Preferences, the Fund Trust may, at its option, designate a Special Dividend Period for any series of APS the Preferred Shares in the manner described in Section 4 of Part I of the APS ProvisionsStatement of Preferences. (i) If the Fund Board of Trustees proposes to designate any succeeding Subsequent Dividend Period of any series of APS as a Special Dividend Period of more than 28 Rate Period DaysPeriod, (A) the Fund Trust shall deliver to the Auction Agent a notice of such proposed Special Dividend Period in the form of Exhibit F C hereto not less than 20 seven Business Days (or two Business Days in the event the duration of the Dividend Period prior to the Special Dividend Period is less than eight Business Days) nor more than 30 days Business Days prior to the first day of such proposed the Special Dividend Period and (B) the Auction Agent on behalf of the Fund Trust shall deliver such notice by first-class mail, postage prepaid, to each Existing Holder of shares of such series of APS Preferred Shares at the address specified in set forth for such Existing Holder's Master Purchaser's Letter Holder in the records of the Auction Agent and to the Broker-Dealers for such series as promptly as practicable after its receipt of such notice from the FundTrust. (ii) If the Board of Trustees Trust determines to designate such succeeding Subsequent Dividend Period as a Special Dividend Period, (A) the Fund Trust shall deliver to the Auction Agent a notice of such determination in the form of Exhibit G D hereto no not later thanthan 3:00 P.M. on the second Business Day immediately preceding the first day of such proposed Special Dividend Period and (B) the Auction Agent shall deliver such notice to the Broker-Dealers promptly on such second Business Day. (iii) If the Trust shall deliver to the Auction Agent a notice not later than 3:00 P.M. on the second Business Day immediately preceding the first day of such proposed Special Dividend Period stating that the Trust has determined not to exercise its option to designate such Dividend Period as a Special Dividend Period, in the form of Exhibit E hereto, or shall fail to timely deliver either such notice or a notice in the form of Exhibit D hereto, the Auction Agent shall deliver a notice in the form of Exhibit E hereto to the Broker-Dealers promptly on such second Business Day. If the Trust fails to deliver either such notice provided in this Section 2.7(b) hereof by 3:00 P.M., the Trust shall be deemed to have delivered a notice to the Auction Agent with respect to such Dividend Period to the effect set forth in this Section 2.7(b)(iii), thereby resulting in a Standard Dividend Period. Such change in the length of any Dividend Period shall not occur if (1) an Auction for Preferred Shares shall not be held on such Auction Date for any reason or (2) an Auction for Preferred Shares shall be held on such Auction Date but Sufficient Clearing Bids for Preferred Shares shall not exist in such Auction.

Designation of Special Dividend Period. (a) The APS Provisions will provide that, subject to the Fund's option to designate No designation is necessary for a Special Dividend Period as referred to in paragraph (b) of this Section 2.5, (i) each Rate Period will consist of 6 months for APS Series A and APS Series B and (ii) each Rate Period following a Rate Period of any series of APS that is other than a Minimum Dividend Period will be 6 months for APS Series A and APS Series B. Not less than 10 nor more than 20 days prior to the last day of any such Rate Period that is not a Minimum Standard Dividend Period, (i) the Fund which shall deliver to the Auction Agent a notice of the Auction Date of the next succeeding Auction for such series in the form of Exhibit E hereto and (ii) the Auction Agent shall deliver such notice by first-class mail, postage prepaid, to each Existing Holder of shares of such series at the address specified in such Existing Holder's Master Purchaser's Letter and to the Broker-Dealers for such series as promptly as practicable after its receipt of such notice from the Fundlast seven calendar days. (b) Pursuant to the APS ProvisionsStatement of Preferences, the Fund Trust may, at its option, designate a Special Dividend Period for any series of APS the Preferred Shares in the manner described in Section 4 of Part I of the APS ProvisionsStatement of Preferences. (i) If the Fund Board of Trustees proposes to designate any succeeding Subsequent Dividend Period of any series of APS as a Special Dividend Period of more than 28 Rate Period DaysPeriod, (A) the Fund Trust shall deliver to the Auction Agent a notice of such proposed Special Dividend Period in the form of Exhibit F C hereto not less than 20 seven Business Days (or two Business Days in the event the duration of the Dividend Period prior to the Special Dividend Period is less than eight Business Days) nor more than 30 days Business Days prior to the first day of such proposed the Special Dividend Period and (B) the Auction Agent on behalf of the Fund Trust shall deliver such notice by first-class mail, postage prepaid, to each Existing Holder of shares of such series of APS Preferred Shares at the address specified in set forth for such Existing Holder's Master Purchaser's Letter Holder in the records of the Auction Agent and to the Broker-Dealers for such series as promptly as practicable after its receipt of such notice from the FundTrust. (ii) If the Board of Trustees Trust determines to designate such succeeding Subsequent Dividend Period as a Special Dividend Period, (A) the Fund Trust shall deliver to the Auction Agent a notice of such determination in the form of Exhibit G D hereto no not later thanthan 3:00 P.M. on the second Business Day immediately preceding the first day of such proposed Special Dividend Period and (B) the Auction Agent shall deliver such notice to the Broker-Dealers promptly on such second Business Day. (iii) If the Trust shall deliver to the Auction Agent a notice not later than 3:00 P.M. on the second Business Day immediately preceding the first day of such proposed Special Dividend Period stating that the Trust has determined not to exercise its option to designate such Dividend Period as a Special Dividend Period, in the form of Exhibit E hereto, or shall fail to timely deliver either such notice or a notice in the form of Exhibit D hereto, the Auction Agent shall deliver a notice in the form of Exhibit E hereto to the Broker-Dealers promptly on such second Business Day. If the Trust fails to deliver either such notice provided in this Section 2.7(b) hereof by 3:00 P.M., the Trust shall be deemed to have delivered a notice to the Auction Agent with respect to such Dividend Period to the effect set forth in this Section 2.7(b)(iii), thereby resulting in a Standard Dividend Period. Subject to Section 2.7(b) of this Agreement, such change in the length of any Dividend Period shall not occur if (1) an Auction for Preferred Shares shall not be held on such Auction Date for any reason or (2) an Auction for Preferred Shares shall be held on such Auction Date but Sufficient Clearing Bids for Preferred Shares shall not exist in such Auction.

Designation of Special Dividend Period. (a) The APS Provisions will provide that, subject to the Fund's option to designate a Special Dividend Period as referred to in paragraph (b) of this Section 2.5, (i) each Rate Period will consist be a Minimum Dividend Period (a duration of 6 months for APS Series A and APS Series B 28 Rate Period Days, subject to certain exceptions) and (ii) each Rate Period following a Rate Period of any series of APS that is other than a Minimum Dividend Period will be 6 months for APS Series A and APS Series B. a Minimum Dividend Period. Not less than 10 nor more than 20 days prior to the last day of any such Rate Period that is not a Minimum Dividend Period, (i) the Fund shall deliver to the Auction Agent a notice of the Auction Date of the next succeeding Auction for such series APS in the form of Exhibit E hereto and (ii) the Auction Agent shall deliver such notice by first-class mail, postage prepaid, to each Existing Holder of shares of such series APS at the address specified in such Existing Holder's Master Purchaser's Letter and to the Broker-Dealers for such series APS as promptly as practicable after its receipt of such notice from the Fund. (b) Pursuant to the APS Provisions, the Fund may, at its option, designate a Special Dividend Period for any series of APS in the manner described in Section 4 of Part I of the APS Provisions. (i) If the Fund proposes to designate any succeeding Subsequent Dividend Period of any series of APS as a Special Dividend Period of more than 28 Rate Period DaysPeriod, (A) the Fund shall deliver to the Auction Agent a notice of such proposed Special Dividend Period in the form of Exhibit F hereto not less than 20 nor more than 30 days prior to the first day of such proposed Special Dividend Period and (B) the Auction Agent on behalf of the Fund shall deliver such notice by first-class mail, postage prepaid, to each Existing Holder of shares of such series of APS at the address specified in such Existing Holder's Master Purchaser's Letter and to the Broker-Dealers for such series as promptly as practicable after its receipt of such notice from the Fund. (ii) If the Board of Trustees determines to designate such succeeding Subsequent Dividend Period as a Special special Dividend Period, (A) the Fund shall deliver to the Auction Agent a notice of such determination in the form of Exhibit G hereto no not later thanthan 11:00 A.M. on the second Business Day next preceding the first day of such proposed Special Dividend Period and (B) the Auction Agent shall deliver such notice to the Broker-Dealers not later than 3:00 P.M. on such second Business Day. (iii) If the Fund shall deliver to the Auction Agent a notice stating that the Fund has determined not to exercise its option to designate such succeeding Subsequent Dividend Period as a Special Dividend Period with respect to which it has delivered a notice in the form of Exhibit F hereto not later than 11:00 A.M. on the second Business Day next preceding the first day of such proposed Special Dividend Period, or shall fail to timely deliver either such notice or a notice in the form of Exhibit G hereto, the Auction Agent shall deliver a notice in the form of Exhibit H hereto to the Broker-Dealers not later than 3:00 P.M. on such second Business Day. Such change in the length of any Rate Period shall not occur if (a) on the Auction Date next preceding the first day of such Special Dividend Period Sufficient Clearing Bids shall not exist or (b) a Failure to Deposit shall have occurred prior to such change and shall not have been cured in accordance with the APS Provisions.

Designation of Special Dividend Period. (a) The APS Provisions will provide that, subject to the Fund's option to designate a Special Dividend Period as referred to in paragraph (b) of this Section 2.5, (i) each Rate Period (other than the Initial Dividend Period) will consist of 6 months 7 days for each of APS Series A and APS Series B and (ii) each Rate Period following a Rate Period of any series of APS that is other than a Minimum Dividend Period will be 6 months 7 days for each of APS Series A and APS Series B. Not less than 10 nor more than 20 days prior to the last day of any such Rate Period that is not a Minimum Dividend Period, (i) the Fund shall deliver to the Auction Agent a notice of the Auction Date of the next succeeding Auction for such series in the form of Exhibit E hereto and (ii) the Auction Agent shall deliver such notice by first-class mail, postage prepaid, to each Existing Holder of shares of such series at the address specified in such Existing Holder's Master Purchaser's Letter and to the Broker-Dealers for such series as promptly as practicable after its receipt of such notice from the Fund. (b) Pursuant to the APS Provisions, the Fund may, at its option, designate a Special Dividend Period for any series of APS in the manner described in Section 4 of Part I of the APS Provisions. (i) If the Fund proposes to designate any succeeding Subsequent Dividend Period of any series of APS as a Special Dividend Period of more than 28 Rate Period Days, (A) the Fund shall deliver to the Auction Agent a notice of such proposed Special Dividend Period in the form of Exhibit F hereto not less than 20 nor more than 30 days prior to the first day of such proposed Special Dividend Period and (B) the Auction Agent on behalf of the Fund shall deliver such notice by first-class mail, postage prepaid, to each Existing Holder of shares of such series of APS at the address specified in such Existing Holder's Master Purchaser's Letter and to the Broker-Dealers for such series as promptly as practicable after its receipt of such notice from the Fund. (ii) If the Board of Trustees determines to designate such succeeding Subsequent Dividend Period as a Special Dividend Period, (A) the Fund shall deliver to the Auction Agent a notice of such determination in the form of Exhibit G hereto no not later thanthan 11:00 A.M. on the second Business Day next preceding the first day of such proposed Special Dividend Period and (B) the Auction Agent shall deliver such notice to the Broker-Dealers for such series not later than 3:00 P.M. on such second Business Day. (iii) If the Fund shall deliver to the Auction Agent a notice stating that the Fund has determined not to exercise its option to designate such succeeding Subsequent Dividend Period as a Special Dividend Period with respect to which it has delivered a notice in the form of Exhibit F hereto not later than 11:00 A.M. on the second Business Day next preceding the first day of such proposed Special Dividend Period, or shall fail to timely deliver either such notice or a notice in the form of Exhibit G hereto, the Auction Agent shall deliver a notice in the form of Exhibit H hereto to the Broker-Dealers for such series not later than 3:00 P.M. on such second Business Day. A change in the length of a Rate Period to a Rate Period of more than 28 Rate Period Days shall not occur if (a) on the Auction Date next preceding the first day of such Special Dividend Period Sufficient Clearing Bids shall not exist or (b) a Failure to Deposit shall have occurred prior to such change with respect to shares of such series of APS and shall not have been cured in accordance with the APS Provisions.