Information Concerning Rates. (a) The Rate Multiple on the date of the Agreement is set forth in the Request and Acceptance Letter. If there is any change in the credit rating of MuniPreferred by either of the rating agencies (or substitute or successor rating agencies) referred to in the definition of "Rate Multiple" resulting in any change in the Rate Multiple for MuniPreferred after the date of the Request and Acceptance Letter, the Fund shall notify the Auction Agent in writing of such change in the Rate Multiple prior to 12:00 Noon on the Business Day prior to the next Auction Date for any series of MuniPreferred succeeding such change. If the Fund designates all or a portion of any dividend on shares of any series of MuniPreferred to consist of net capital gains or other income taxable for Federal income tax purposes, it will indicate, in its notice in the form of Exhibit I hereto to the Auction Agent pursuant to Section 2.6 hereof, the Rate Multiple for such series to be in effect for the Auction Date on which the dividend rate for such dividend is to be fixed. In determining the Maximum Rate for any series of MuniPreferred on any Auction Date as set forth in Section 2.3(b)(i) hereof, the Auction Agent shall be entitled to rely on the last Rate Multiple for MuniPreferred of which it has most recently received notice from the Fund (or, in the absence of such notice, the percentage set forth in the Request and Acceptance Letter), except that if the Fund shall have notified the Auction Agent of a Rate Multiple to be in effect for an Auction Date in accordance with the preceding sentence, the Rate Multiple in effect for the next succeeding Auction Date of any series of MuniPreferred shall be, unless the Fund notifies the Auction Agent of a change in the Rate Multiple for such succeeding Auction Date pursuant to this Section 2.3(a), the Rate Multiple that was in effect on the first preceding Auction Date for MuniPreferred with respect to which the dividend, the rate for which was fixed on such Auction Date, did not include any net capital gains or other income taxable for Federal income tax purposes.
(i) On each Auction Date for any series of MuniPreferred, the Auction Agent shall determine the Maximum Rate for such series. The Maximum Rate for any series of MuniPreferred on any Auction Date shall be:
(A) in the case of any Auction Date which is not the Auction Date immediately prior to the first day of any proposed Special Rate Period designated by the Fund pursuant to Section 4 of ...
Information Concerning Rates. (a) On each Auction Date, the Auction Agent shall determine the AA Composite Commercial Paper Rate or the Treasury Index Rate, as the case may be, and the Minimum Rate and Maximum Rate. If the AA Composite Commercial Paper Rate or the Treasury Index Rate, as the case may be, is not quoted on an interest basis, if the rate obtained by the Auction Agent is quoted on a discount basis, or if the rate obtained by the Auction Agent is quoted on another basis the Auction Agent shall convert the quoted rate to an interest rate after consultation with the Fund as to the method of such conversion. Not later than 9:30 A.M. on each Auction Date the Auction Agent shall notify the Fund and the Broker-Dealers of the Minimum Rate and Maximum Rate so determined and the AA Composite Commercial Paper Rate or the Treasury Index Rate, as the case may be, used to make such determination.
(b) If any AA Composite Commercial Paper Rate is to be based on rates supplied by Commercial Paper Dealers and one or more of the Commercial Paper Dealers shall not provide a quotation for the determination of such AA Composite Commercial Paper Rate, the Auction Agent shall promptly notify the Fund so that the Fund can determine whether to select a substitute Commercial Paper Dealer or substitute Commercial Paper Dealers to provide the quotation or quotations not being supplied by any Commercial Paper Dealer or Commercial Paper Dealers. The Fund shall promptly advise the Auction Agent of any such selection.
(c) If any Treasury Index Rate is to be based on rates supplied by U.S. Government Securities Dealers and one or more of the U.S. Government Securities Dealers shall not provide a quotation for the determination of such Treasury Rate, the Auction Agent shall promptly notify the Fund so that the Fund can determine whether to select a Substitute U.S. Government Securities Dealer or Substitute U.S. Government Securities Dealers to provide the quotation or quotations not being supplied by any U.S.
Information Concerning Rates. If there is any change in the credit rating of MMP Shares by a Rating Agency (or substitute or successor Rating Agencies) then rating the MMP Shares that results in any change in the applicable percentage of the Reference Rate used to determine the Maximum Rate for MMP Shares (the "Rate Multiple"), the Company shall notify the Auction Agent of such change in the Rate Multiple by no later than the Business Day immediately preceding the next Auction Date. In determining the Maximum Rate on any Auction Date, the Auction Agent shall be entitled to rely on the last Rate Multiple for MMP Shares of which it has most recently received notice from the Company.
Information Concerning Rates. If there is any change in the credit rating of Tortoise Notes by a rating agency (or substitute or successor rating agencies) then rating the Tortoise Notes that results in any change in the applicable percentage of the "AA" Composite Commercial Paper Rate used to determine the Maximum Rate for Tortoise Notes (the "Rate Multiple"), the Company shall notify the Auction Agent of such change in the Rate Multiple by no later than the Business Day immediately preceding such Auction Date. In determining the Maximum Rate on any Auction Date, the Auction Agent shall be entitled to rely on the last Rate Multiple for Tortoise Notes of which it has most recently received notice from the Company.
Information Concerning Rates. If there is any change in the credit rating of ARP Shares by a rating agency (or substitute or successor rating agencies) then rating the ARP Shares that results in any change in the Maximum Rate for ARP Shares (the “Rate Multiple”), the Company shall notify the Auction Agent of such change in the Rate Multiple prior to the Auction Date. In determining the Maximum Rate on any Auction Date, the Auction Agent shall be entitled to rely on the last Rate Multiple for ARP Shares of which it has most recently received notice from the Company .
Information Concerning Rates. If there is any change in the credit rating of Preferred Shares by the Rating Agency (or substitute or successor rating agencies) that results in any change in the applicable percentage of the "AA" Financial Composite Commercial Paper Rate used to determine the Maximum Applicable Rate for Preferred Shares (the "Rate Multiple"), the Fund shall notify the Auction Agent of such change in the Rate Multiple prior to the Auction Date. In determining the Maximum Applicable Rate on any Auction Date, the Auction Agent shall be entitled to rely on the last Rate Multiple for Preferred Shares of which it has most recently received notice from the Fund .
Information Concerning Rates. If there is any change in the credit rating of Energy Notes by a rating agency (or substitute or successor rating agencies) then rating the Energy Notes that results in any change in the applicable percentage of the "AA" Composite Commercial Paper Rate used to determine the Maximum Rate for Energy Notes (the "Rate Multiple"), the Fund shall notify the Auction Agent of such change in the Rate Multiple prior to the Auction Date. In determining the Maximum Rate on any Auction Date, the Auction Agent shall be entitled to rely on the last Rate Multiple for Energy Notes of which it has most recently received notice from the Fund.
Information Concerning Rates. If there is any change in the credit rating of Preferred Shares by the Rating Agency (or substitute or successor rating agencies) that results in any change in the Maximum Rate, the Fund shall notify the Auction Agent in writing of such change prior to the Auction Date so affected. In determining the Maximum Rate on any Auction Date, the Auction Agent shall be entitled to rely on the credit rating of the Preferred Shares for which it last received notice of from the Fund.
Information Concerning Rates. If there is any change in the credit rating of AMPS by a rating agency (or substitute or successor rating agencies) then rating the AMPS that results in any change in the applicable percentage of the Reference Rate for AMPS (the "Rate Multiple"), the Fund shall notify the Auction Agent of such change in the Rate Multiple prior to the Auction Date. In determining the Maximum Rate on any Auction Date, the Auction Agent shall be entitled to rely on the last Rate Multiple for AMPS of which it has most recently received notice from the Fund.
Information Concerning Rates. If there is any change in the credit rating of Series ___Notes by a rating agency (or substitute or successor rating agencies) then rating the Series ___Notes that results in any change in the Maximum Rate for Series ___Notes (the “Rate Multiple”), the Company shall notify the Auction Agent of such change in the Rate Multiple prior to the Auction Date. In determining the Maximum Rate on any Auction Date, the Auction Agent shall be entitled to rely on the last Rate Multiple for Series ___Notes of which it has most recently received notice from the Company.
