Common use of Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures Clause in Contracts

Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (1) The Board of Trustees of the Trust has adopted a resolution appointing Bank of New York as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for any Subsequent Rate Period of any series of Preferred Shares for which the Applicable Rate is to be determined by auction. Each periodic operation of such procedures is hereinafter referred to as an "Auction." (2) All of the provisions contained in the Auction Procedures and the Settlement Procedures are incorporated herein by reference in their entirety and shall be deemed to be a part hereof to the same extent as if such provisions were fully set forth herein.

Appears in 8 contracts

Samples: Auction Agency Agreement (Blackrock Municipal Bond Trust), Auction Agency Agreement (Blackrock Virginia Municipal Bond Trust), Auction Agency Agreement (Blackrock Maryland Municipal Bond Trust)

AutoNDA by SimpleDocs

Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (1a) The Board of Trustees of the Trust has adopted a resolution appointing Deutsche Bank of New York Trust Company Americas as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction DateDate for a series of APS, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for any Subsequent Rate Period of any series of Preferred Shares APS for which the Applicable Rate is to be determined by such auction. Each periodic operation of such procedures is hereinafter referred to as an "Auction." (2b) All of the provisions contained in the Auction Procedures and the Settlement Procedures are incorporated herein by reference in their entirety and shall be deemed to be a part hereof to the same extent as if such provisions were fully set forth herein.

Appears in 6 contracts

Samples: Auction Agency Agreement (John Hancock Preferred Income Fund), Auction Agency Agreement (Hancock John Income Securities Trust /Ma), Auction Agency Agreement (John Hancock Preferred Income Fund Ii)

Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (1a) The Board of Trustees of the Trust has adopted a resolution appointing Deutsche Bank of New York Trust Company Americas as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for any Subsequent Rate Period of any series of Preferred Shares the AMPS for which the Applicable Rate is to be determined by auction. Each periodic operation of such procedures is hereinafter referred to as an "Auction." (2b) All of the provisions contained in the Auction Procedures and the Settlement Procedures are incorporated herein by reference in their entirety and shall be deemed to be a part hereof to the same extent as if such provisions were fully set forth herein.

Appears in 4 contracts

Samples: Auction Agency Agreement, Auction Agency Agreement (Federated Premier Municipal Income Fund), Auction Agency Agreement (Federated Premier Municipal Income Fund)

Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (1a) The Board of Trustees of the Trust has adopted a resolution appointing Bank of New York as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for any Subsequent Rate Period of any series of Preferred Shares for which the Applicable Rate is to be determined by auction. Each periodic operation implementation of such procedures is hereinafter referred to as an "Auction." (2b) All of the provisions contained in the Auction Procedures and the Settlement Procedures are incorporated herein by reference in their entirety and shall be deemed to be a part hereof to the same extent as if such provisions were fully set forth herein.

Appears in 3 contracts

Samples: Auction Agency Agreement (Blackrock Florida Insured Municipal Income Trust), Auction Agency Agreement (Blackrock California Insured Municipal Income Trust), Auction Agency Agreement (Blackrock New York Insured Municipal Income Trust)

Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (1a) The Board of Trustees of the Trust Fund has adopted a resolution appointing The Bank of New York as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for any Subsequent Rate Period of any series of Preferred Shares AMPS for which the Applicable Rate is to be determined by auction. Each periodic operation implementation of such procedures is hereinafter referred to as an "Auction." (2b) All of the provisions contained in the Auction Procedures and the Settlement Procedures are incorporated herein by reference in their entirety and shall be deemed to be a part hereof to the same extent as if such provisions were fully set forth herein.

Appears in 3 contracts

Samples: Auction Agency Agreement (Ts&w / Claymore Tax-Advantaged Balanced Fund), Auction Agency Agreement (Advent Claymore Convertible Securities & Income Fund), Auction Agency Agreement (Dreman Claymore Dividend & Income Fund)

Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (1a) The Board of Trustees of the Trust has adopted a resolution appointing The Bank of New York as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for any Subsequent Rate Period of any series of Preferred Shares AMPS for which the Applicable Rate is to be determined by auction. Each periodic operation of such procedures is hereinafter referred to as an "Auction." (2b) All of the provisions contained in the Auction Procedures and the Settlement Procedures are incorporated herein by reference in their entirety and shall be deemed to be a part hereof to the same extent as if such provisions were fully set forth herein.

Appears in 3 contracts

Samples: Auction Agency Agreement (Blackrock New York Municipal 2018 Term Trust), Auction Agency Agreement (Blackrock California Municipal 2018 Term Trust), Auction Agency Agreement (Blackrock Municipal 2018 Term Trust)

Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (1a) The Board of Trustees of the Trust has adopted a resolution appointing Deutsche Bank of New York Trust Company Americas as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for any Subsequent Rate Period of any series of Preferred Shares AMPS for which the Applicable Rate is to be determined by auction. Each periodic operation of such procedures is hereinafter referred to as an "Auction." (2b) All of the provisions contained in the Auction Procedures and the Settlement Procedures are incorporated herein by reference in their entirety and shall be deemed to be a part hereof to the same extent as if such provisions were fully set forth herein.

Appears in 3 contracts

Samples: Auction Agency Agreement (Pioneer Tax Advantaged Balanced Trust), Auction Agency Agreement (Pioneer High Income Trust), Auction Agency Agreement (Pioneer High Income Trust)

Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (1a) The Board of Trustees Directors of the Trust Fund has adopted a resolution appointing Bank of New York Wilmington Trust Company as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for any Subsequent Rate Period of any series of Preferred Shares AMPS for which the Applicable Rate is to be determined by auction. Each periodic operation of such procedures is hereinafter referred to as an "Auction." (2b) All of the provisions contained in the Auction Procedures and the Settlement Procedures are incorporated herein by reference in their entirety and shall be deemed to be a part hereof to the same extent as if such provisions were fully set forth herein.

Appears in 2 contracts

Samples: Auction Agency Agreement (F&c/Claymore Preferred Securities Income Fund Inc), Auction Agency Agreement (Flaherty & Crumrine/Claymore Total Return Fund Inc)

Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (1a) The Board of Trustees of the Trust has adopted a resolution appointing The Bank of New York as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for any Subsequent Rate Period of any series of Preferred Shares APS for which the Applicable Rate is to be determined by auction. Each periodic operation implementation of such procedures is hereinafter referred to as an "Auction." (2b) All of the provisions contained in the Auction Procedures and the Settlement Procedures are incorporated herein by reference in their entirety and shall be deemed to be a part hereof to the same extent as if such provisions were fully set forth herein.

Appears in 1 contract

Samples: Auction Agency Agreement (Ing Clarion Real Estate Income Fund)

Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (1a) The Board of Trustees of the Trust has adopted a resolution appointing The Bank of New York as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for any Subsequent Rate Period of any series of Preferred Shares APS for which the Applicable Rate is to be determined by auction. Each periodic operation implementation of such procedures is hereinafter referred to as an "Auction." (2b) All of the provisions contained in the Auction Procedures and the Settlement Procedures are incorporated herein by reference in their entirety and shall be deemed to be a part hereof to the same extent as if such provisions were fully set forth herein.

Appears in 1 contract

Samples: Auction Agency Agreement (Blackrock Global Floating Rate Income Trust)

AutoNDA by SimpleDocs

Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (1a) The Board of Trustees of the Trust has adopted a resolution appointing Deutsche Bank of New York as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for any Subsequent Rate Period of any series of Preferred Shares the AMPS for which the Applicable Rate is to be determined by auction. Each periodic operation of such procedures is hereinafter referred to as an "Auction." (2b) All of the provisions contained in the Auction Procedures and the Settlement Procedures are incorporated herein by reference in their entirety and shall be deemed to be a part hereof to the same extent as if such provisions were fully set forth herein.

Appears in 1 contract

Samples: Auction Agency Agreement (Aew Real Estate Income Fund)

Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (1a) The Board of Trustees of the Trust has adopted a resolution appointing The Bank of New York as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for any Subsequent Rate Period of any series of Preferred Shares AMPS for which the Applicable Rate is to be determined by auction. Each periodic operation implementation of such procedures is hereinafter referred to as an "Auction." (2b) All of the provisions contained in the Auction Procedures and the Settlement Procedures are incorporated herein by reference in their entirety and shall be deemed to be a part hereof to the same extent as if such provisions were fully set forth herein.

Appears in 1 contract

Samples: Auction Agency Agreement (BlackRock Preferred & Equity Advantage Trust)

Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (1) The Board of Trustees of the Trust has adopted a resolution appointing Bank of New York as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for any Subsequent Rate Period of any series of Preferred Shares for which the Applicable Rate is to be determined by auction. Each periodic operation implementation of such procedures is hereinafter referred to as an "Auction." (2) All of the provisions contained in the Auction Procedures and the Settlement Procedures are incorporated herein by reference in their entirety and shall be deemed to be a part hereof to the same extent as if such provisions were fully set forth herein.

Appears in 1 contract

Samples: Auction Agency Agreement (Blackrock Insured Municipal Income Trust)

Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (1a) The Board of Trustees of the Trust has adopted a resolution appointing The Bank of New York as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for any Subsequent Rate Period of any series of Preferred Shares AMPS for which the Applicable Rate is to be determined by auction. Each periodic operation implementation of such procedures is hereinafter referred to as an "Auction." (2b) All of the provisions contained in the Auction Procedures and the Settlement Procedures are incorporated herein by reference in their entirety and shall be deemed to be a part hereof to the same extent as if such provisions were fully set forth herein.

Appears in 1 contract

Samples: Auction Agency Agreement (Blackrock Preferred Opportunity Trust)

Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (1a) The Board of Trustees of the Trust has adopted a resolution appointing Deutsche Bank of New York Trust Company Americas as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for any Subsequent Rate Dividend Period of any series of Preferred Shares AMPS for which the Applicable Rate is to be determined by auction. Each periodic operation of such procedures is hereinafter referred to as an "Auction." (2b) All of the provisions contained in the Auction Procedures and the Settlement Procedures are incorporated herein by reference in their entirety and shall be deemed to be a part hereof to the same extent as if such provisions were fully set forth herein.

Appears in 1 contract

Samples: Auction Agency Agreement (Pioneer Floating Rate Trust)

Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (1a) The Board of Trustees of the Trust has adopted a resolution appointing Deutsche Bank of New York Trust Company as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for any Subsequent Rate Period of any series of Preferred Shares AMPS for which the Applicable Rate is to be determined by auction. Each periodic operation of such procedures is hereinafter referred to as an "Auction." (2b) All of the provisions contained in the Auction Procedures and the Settlement Procedures are incorporated herein by reference in their entirety and shall be deemed to be a part hereof to the same extent as if such provisions were fully set forth herein.

Appears in 1 contract

Samples: Auction Agency Agreement (Western Asset Premier Bond Fund)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!