Reduction of Available Commitment. As of the opening of business on the day following the Liquidity Provider's receipt of written notice (which the Tender and Paying Agent will provide within two (2) Business Days of receipt of notice from the Fund) of any redemption or other repurchase of VRDP Shares consummated by the Fund, the Available Commitment shall automatically be reduced by the amount applicable to the VRDP Shares so redeemed or otherwise repurchased; and the Available Commitment in respect of such VRDP Shares shall be extinguished and shall not thereafter be revived, except with the prior written consent of the Liquidity Provider.
Appears in 12 contracts
Samples: VRDP Shares Purchase Agreement (Bank of America Corp /De/), VRDP Shares Purchase Agreement (Bank of America Corp /De/), VRDP Shares Purchase Agreement (Bank of America Corp /De/)
Reduction of Available Commitment. As of the opening of business on the day following the Liquidity Provider's ’s receipt of written notice (which the Tender and Paying Agent will provide within two (2) Business Days of receipt of notice from the Fund) of any redemption or other repurchase of VRDP Shares consummated by the Fund, the Available Commitment shall automatically be reduced by the amount applicable to the VRDP Shares so redeemed or otherwise repurchased; and the Available Commitment in respect of such VRDP Shares shall be extinguished and shall not thereafter be revived, except with the prior written consent of the Liquidity Provider. Notwithstanding the foregoing, nothing herein is intended to expand the terms of the Purchase Obligation.
Appears in 9 contracts
Samples: VRDP Shares Purchase Agreement (Toronto Dominion Investments, Inc.), VRDP Shares Purchase Agreement (Toronto Dominion Investments, Inc.), Purchase Agreement (Toronto Dominion Investments, Inc.)
Reduction of Available Commitment. As of the opening of business on the day following the Liquidity Provider's ’s receipt of written notice (which the Tender and Paying Agent will provide within two (2) Business Days of receipt of notice from the Fund) of any redemption or other repurchase of VRDP Shares consummated by the Fund, the Available Commitment shall automatically be reduced by the amount applicable to the VRDP Shares so redeemed or otherwise repurchased; and the Available Commitment in respect of such VRDP Shares shall be extinguished and shall not thereafter be revived, except with the prior written consent of the Liquidity Provider.
Appears in 4 contracts
Samples: VRDP Shares Purchase Agreement (Bank of America Corp /De/), VRDP Shares Purchase Agreement (Bank of America Corp /De/), VRDP Shares Purchase Agreement (Bank of America Corp /De/)
Reduction of Available Commitment. As of the opening of business on the day following the Liquidity Provider's receipt of written notice (which the Tender and Paying Agent will shall provide within two (2) Business Days of receipt of notice from the Fund) of any redemption or other repurchase of VRDP Shares consummated by the Fund, the Available Commitment shall automatically be reduced by the amount applicable to the VRDP Shares so redeemed or otherwise repurchased; and the Available Commitment in respect of such VRDP Shares shall be extinguished and shall not thereafter be revived, except with the prior written consent of the Liquidity Provider. Notwithstanding the foregoing, nothing herein is intended to expand the terms of the Purchase Obligation.
Appears in 2 contracts
Samples: Administrative Services Agreement (Blackrock Municipal Income Investment Trust), Administrative Services Agreement (Blackrock Municipal Income Investment Trust)
Reduction of Available Commitment. As of the opening of business on the day following the Liquidity Provider's ’s receipt of written notice (which the Tender and Paying Agent will provide within two (2) Business Days of receipt of notice from the FundTrust) of any redemption or other repurchase of VRDP Shares consummated by the FundTrust, the Available Commitment shall automatically be reduced by the amount applicable to the VRDP Shares so redeemed or otherwise repurchased; and the Available Commitment in respect of such VRDP Shares shall be extinguished and shall not thereafter be revived, except with the prior written consent of the Liquidity Provider.
Appears in 1 contract
Samples: VRDP Shares Purchase Agreement (Bank of America Corp /De/)
