The Fund to Provide Funds for Dividends, Redemptions and Additional Dividends. (a) Not later than noon on each Dividend Payment Date, the Fund 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 9 contracts
Samples: Auction Agent Agreement (Muniholdings Florida Insured Fund V), Auction Agent Agreement (Muniholdings Florida Insured Fund Ii), Auction Agent Agreement (Dreyfus Municipal Income Inc)
