Common use of Payment of Final Dividend on the Old VMTP Shares Clause in Contracts

Payment of Final Dividend on the Old VMTP Shares. The Fund and the Purchaser hereby agree that (i) the final “Dividend Payment Date” (as defined in the Statement Establishing and Fixing the Rights and Preferences of Variable Rate MuniFund Term Preferred Shares for the Old VMTP Shares (the “Old VMTP Statement”)), for payment of the dividends accumulated on the Old VMTP Shares from and including March 1, 2018 through and including March 28, 2018, shall be April 2, 2018 (the “Old VMTP Shares Final Dividend Payment”), (ii) the Old VMTP Shares Final Dividend Payment shall be made to the holders of record of the Old VMTP Shares at the close of business on March 28, 2018 and (iii) the Fund shall make payments of dividends (a) on April 2, 2018 consisting of the Old VMTP Shares Final Dividend Payment, to be made under CUSIP 670657 873 and (b) on May 1, 2018 the initial dividend payment in respect of the MFP Shares, consisting of dividends accumulated on the MFP Shares from and including March 29, 2018 through and including April 30, 2018, to be made under CUSIP 670657 790. The Old VMTP Statement is hereby deemed amended by the Fund to the extent necessary to effect the Old VMTP Shares Final Dividend Payment as stated above, and the Purchaser, as the Holder of 100% of the outstanding Old VMTP Shares, hereby consents to such deemed amendment of the Old VMTP Statement.

Appears in 1 contract

Samples: Series C Munifund Preferred Shares (Wells Fargo & Company/Mn)

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Payment of Final Dividend on the Old VMTP Shares. The Fund and the Purchaser hereby agree that (i) the final “Dividend Payment Date” (as defined in the Statement Establishing and Fixing the Rights and Preferences of Variable Rate MuniFund Term Preferred Shares for the Old VMTP Shares (the “Old VMTP Statement”)), for payment of the dividends accumulated on the Old VMTP Shares from and including March 1, 2018 through and including March 28, 2018, shall be April 2, 2018 (the “Old VMTP Shares Final Dividend Payment”), (ii) the Old VMTP Shares Final Dividend Payment shall be made to the holders of record of the Old VMTP Shares at the close of business on March 28, 2018 and (iii) the Fund shall make payments of dividends (a) on April 2, 2018 consisting of the Old VMTP Shares Final Dividend Payment, to be made under CUSIP 670657 873 840 and (b) on May 1, 2018 the initial dividend payment in respect of the MFP Shares, consisting of dividends accumulated on the MFP Shares from and including March 29, 2018 through and including April 30, 2018, to be made under CUSIP 670657 790816. The Old VMTP Statement is hereby deemed amended by the Fund to the extent necessary to effect the Old VMTP Shares Final Dividend Payment as stated above, and the Purchaser, as the Holder of 100% of the outstanding Old VMTP Shares, hereby consents to such deemed amendment of the Old VMTP Statement.

Appears in 1 contract

Samples: Series B Munifund Preferred Shares (Wells Fargo & Company/Mn)

Payment of Final Dividend on the Old VMTP Shares. The Fund and the Purchaser hereby agree that (i) the final “Dividend Payment Date” (as defined in the Statement Establishing and Fixing the Rights and Preferences of Variable Rate MuniFund Term Preferred Shares for the Old VMTP Shares (the “Old VMTP Statement)), for payment of the dividends accumulated on the Old VMTP Shares from and including March January 1, 2018 through and including March January 28, 2018, shall be April 2February 1, 2018 (the “Old VMTP Shares Final Dividend Payment”), and (ii) the Old VMTP Shares Final Dividend Payment shall be made to the holders of record of the Old VMTP Shares at the close of business on March 28, 2018 and (iii) the Fund shall make payments of dividends (a) on April 2February 1, 2018 consisting of the Old VMTP Shares Final Dividend Payment, to be made under CUSIP 670657 873 67066Y 857 and (b) on May March 1, 2018 the initial dividend payment in respect of the MFP Shares, consisting of dividends accumulated on the MFP Shares from and including March January 29, 2018 through and including April 30February 28, 2018, to be made under CUSIP 670657 79067066Y 824. The Old VMTP Statement is hereby deemed amended by the Fund to the extent necessary to effect the Old VMTP Shares Final Dividend Payment as stated above, and the Purchaser, as the Holder of 100% of the outstanding Old VMTP Shares, hereby consents to such deemed amendment of the Old VMTP Statement.

Appears in 1 contract

Samples: Purchase and Exchange Agreement (Wells Fargo & Company/Mn)

Payment of Final Dividend on the Old VMTP Shares. The Fund and the Purchaser hereby agree that (i) the final “Dividend Payment Date” (as defined in the Statement Establishing and Fixing the Rights and Preferences of Variable Rate MuniFund Term Preferred Shares for the Old VMTP Shares (the “Old VMTP Statement)), for payment of the dividends accumulated on the Old VMTP Shares from and including March January 1, 2018 through and including March January 28, 2018, shall be April 2February 1, 2018 (the “Old VMTP Shares Final Dividend Payment”), and (ii) the Old VMTP Shares Final Dividend Payment shall be made to the holders of record of the Old VMTP Shares at the close of business on March 28, 2018 and (iii) the Fund shall make payments of dividends (a) on April 2February 1, 2018 consisting of the Old VMTP Shares Final Dividend Payment, to be made under CUSIP 670657 873 67066V 838 and (b) on May March 1, 2018 the initial dividend payment in respect of the MFP Shares, consisting of dividends accumulated on the MFP Shares from and including March January 29, 2018 through and including April 30February 28, 2018, to be made under CUSIP 670657 79067066V 812. The Old VMTP Statement is hereby deemed amended by the Fund to the extent necessary to effect the Old VMTP Shares Final Dividend Payment as stated above, and the Purchaser, as the Holder of 100% of the outstanding Old VMTP Shares, hereby consents to such deemed amendment of the Old VMTP Statement.

Appears in 1 contract

Samples: Purchase and Exchange Agreement (Wells Fargo & Company/Mn)

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Payment of Final Dividend on the Old VMTP Shares. The Fund and the Purchaser hereby agree that (i) the final "Dividend Payment Date" (as defined in the Statement Establishing and Fixing the Rights and Preferences of Variable Rate MuniFund Term Preferred Shares for the Old VMTP Shares (the "Old VMTP Statement")), for payment of the dividends accumulated on the Old VMTP Shares from and including March October 1, 2018 2017 through and including March 28October 15, 20182017, shall be April 2November 1, 2018 2017 (the "Old VMTP Shares Final Dividend Payment"), and (ii) the Old VMTP Shares Final Dividend Payment shall be made to the holders of record of the Old VMTP Shares at the close of business on March 28, 2018 and (iii) the Fund shall make payments of dividends on November 1, 2017 consisting of (a) on April 2, 2018 consisting of the Old VMTP Shares Final Dividend Payment, to be made under CUSIP 670657 873 67060Q 405 and (b) on May 1, 2018 the initial dividend payment in respect of the MFP Shares, consisting of dividends accumulated on the MFP Shares from and including March 29October 16, 2018 2017 through and including April 30October 31, 20182017, to be made under CUSIP 670657 79067060Q 504. The Old VMTP Statement is hereby deemed amended by the Fund to the extent necessary to effect the Old VMTP Shares Final Dividend Payment as stated above, and the Purchaser, as the Holder of 100% of the outstanding Old VMTP Shares, Purchaser hereby consents to such deemed amendment of the Old VMTP Statement.

Appears in 1 contract

Samples: Exchange Agreement (Bank of America Corp /De/)

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