of the Bylaws. If the Board of Trustees proposes to designate any succeeding Subsequent Rate Period of any series of Municipal Preferred as a Special Rate Period, (A) the Trust shall deliver to the Auction Agent a notice of such proposed Special Rate Period in the form of Exhibit D hereto not less than 20 (or such lesser number of days as may be agreed to from time to time by the Auction Agent) nor more than 30 days prior to the first day of such proposed Special Rate Period and (B) the Auction Agent on behalf of the Trust shall deliver such notice by first-class mail, postage prepaid, to each Existing Holder of shares of such series of Municipal Preferred at the address set forth for such Existing 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 Trust.
Appears in 6 contracts
Samples: Auction Agency Agreement (Colonial California Insured Municipal Fund), Auction Agency Agreement (Colonial High Income Municipal Trust), Auction Agency Agreement (Colonial New York Insured Municipal Fund)
