The Company to Provide Funds for Dividends, Redemptions and Additional Dividends. (a) Not later than noon on 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.
Appears in 26 contracts
Samples: Auction Agent Agreement (Muniholdings Insured Fund Iii Inc), Auction Agent Agreement (Muniholdings New Jersey Insured Fund Inc), Auction Agent Agreement (Muniholdings Fund Ii Inc/Nj)
The Company to Provide Funds for Dividends, Redemptions and Additional Dividends. (a) Not later than noon on 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.day
Appears in 1 contract
Samples: Auction Agent Agreement (Muniyield Michigan Insured Fund Inc)
