The Company to Provide Funds for Dividends and Redemptions. (a) Not later than 3:00 p.m. on the Business Day preceding each Dividend Payment Date, the Company shall deposit with the Paying Agent an aggregate amount of federal funds or similar same-day funds equal to the declared dividends to be paid to Holders on such Dividend Payment Date and shall give the Paying Agent irrevocable instructions to apply such funds to the payment of such dividends on such Dividend Payment Date. (b) If the Company shall give a Notice of Redemption, then by 12:00 noon on the date fixed for redemption, the Company shall deposit in trust with the Paying Agent an aggregate amount of federal funds or similar same-day funds sufficient to redeem such MMP Shares called for redemption and shall give the Paying Agent irrevocable instructions and authority to pay the redemption price to the Holders of MMP Shares called for redemption upon surrender of the certificate or certificates therefor.
Appears in 9 contracts
Samples: Auction Agency Agreement (Tortoise Energy Infrastructure Corp), Auction Agency Agreement (Tortoise Energy Infrastructure Corp), Auction Agency Agreement (Tortoise Energy Infrastructure Corp)
The Company to Provide Funds for Dividends and Redemptions. (a) Not later than 3:00 p.m. on the Business Day preceding each Dividend Payment Date, the Company shall deposit with the Paying Agent an aggregate amount of federal Federal funds or similar same-day funds equal to the declared dividends to be paid to Holders on such Dividend Payment Date and shall give the Paying Agent irrevocable instructions to apply such funds to the payment of such dividends on such Dividend Payment Date.
(b) If the Company shall give a Notice of Redemption, then by 12:00 noon on the date fixed for redemption, the Company shall deposit in trust with the Paying Agent an aggregate amount of federal Federal funds or similar same-day funds sufficient to redeem such MMP ARP Shares called for redemption and shall give the Paying Agent irrevocable instructions and authority to pay the redemption price to the Holders of MMP ARP Shares called for redemption upon surrender of the certificate or certificates therefor.
Appears in 3 contracts
Samples: Auction Agency Agreement (Kayne Anderson MLP Investment CO), Auction Agency Agreement (Kayne Anderson Energy Total Return Fund, Inc.), Auction Agency Agreement (Kayne Anderson MLP Investment CO)
The Company to Provide Funds for Dividends and Redemptions. (a) Not later than 3:00 p.m. on the Business Day preceding each Dividend Payment Date, the Company shall deposit with the Paying Agent an aggregate amount of federal Federal funds or similar same-day funds equal to the declared dividends to be paid to Holders on such Dividend Payment Date and shall give the Paying Agent irrevocable instructions to apply such funds to the payment of such dividends on such Dividend Payment Date.
(b) If the Company shall give a Notice of Redemption, then by 12:00 noon on the date fixed for redemption, the Company shall deposit in trust with the Paying Agent an aggregate amount of federal Federal funds or similar same-day funds sufficient to redeem such MMP AMP Shares called for redemption and shall give the Paying Agent irrevocable instructions and authority to pay the redemption price to the Holders of MMP AMP Shares called for redemption upon surrender of the certificate or certificates therefor.
Appears in 1 contract
Samples: Auction Agency Agreement (Boulder Growth & Income Fund)
