EFFECTIVE TIME OF THE REORGANIZATION. Delivery of the Limited-Term Tax-Free Assets and the shares of Tax-Free Bond to be issued pursuant to Section 1 and the liquidation of Limited-Term Tax-Free pursuant to Section 2 shall occur at the opening of business on the next business day following the Valuation Time, or on such other date, and at such place and time, as may be determined by the President or any Vice President of ACMT. The date and time at which such actions are taken are referred to herein as the "Effective Time." To the extent any of the Limited-Term Tax-Free Assets are, for any reason, not transferred at the Effective Time, ACMT shall cause such Limited-Term Tax-Free Assets to be transferred in accordance with this Agreement at the earliest practicable date thereafter.
Appears in 3 contracts
Samples: Agreement and Plan of Reorganization (American Century Municipal Trust), Agreement and Plan of Reorganization (American Century California Tax Free & Municipal Funds), Agreement and Plan of Reorganization (American Century Municipal Trust)
EFFECTIVE TIME OF THE REORGANIZATION. Delivery of the LimitedLong-Term Tax-Free Assets and the shares of Tax-Free Bond to be issued pursuant to Section 1 and the liquidation of LimitedLong-Term Tax-Free pursuant to Section 2 shall occur at the opening of business on the next business day following the Valuation Time, or on such other date, and at such place and time, as may be determined by the President or any Vice President of ACMT. The date and time at which such actions are taken are referred to herein as the "Effective Time." To the extent any of the LimitedLong-Term Tax-Free Assets are, for any reason, not transferred at the Effective Time, ACMT shall cause such LimitedLong-Term Tax-Free Assets to be transferred in accordance with this Agreement at the earliest practicable date thereafter.
Appears in 2 contracts
Samples: Agreement and Plan of Reorganization (American Century Municipal Trust), Agreement and Plan of Reorganization (American Century Municipal Trust)
