NUVEEN CALIFORNIA QUALITY MUNICIPAL INCOME FUND (formerly known as Nuveen California Dividend Advantage Municipal Fund) AMENDMENT to VMTP PURCHASE AGREEMENT
Exhibit 99.6
NUVEEN CALIFORNIA QUALITY MUNICIPAL INCOME FUND (formerly known as Nuveen
California Dividend Advantage Municipal Fund)
AMENDMENT
to
This Amendment to the VMTP Purchase Agreement (the “Amendment”) is effective as of the 19th day of August, 2016 (the “Amendment Date”) between Nuveen California Quality Municipal Income Fund (formerly known as Nuveen California Dividend Advantage Municipal Fund), a closed-end fund organized as a Massachusetts business trust, as issuer (the “Fund”), and Xxxxx Fargo Municipal Capital Strategies, LLC, a wholly-owned subsidiary of Xxxxx Fargo Bank, National Association, organized and existing under the laws of Delaware, including its successors by merger or operation of law (“Xxxxx Fargo”).
WHEREAS, the above-named parties entered into that certain VMTP Purchase Agreement, dated as of June 10, 2016 (the “Purchase Agreement”).
NOW, THEREFORE, the parties desire to amend the Purchase Agreement as set forth below.
1. | Section 4.13 of the Purchase Agreement is hereby deleted and replaced in its entirety with the following text: |
“4.13 | Credit Quality |
As of the Amendment Date, the Fund has invested at least 80% of its Managed Assets in securities that, at the time of investment, were rated Investment Grade, or were unrated but judged to be of comparable quality by the Sub-Adviser, provided that the Fund has not invested in any securities that are not municipal securities and that, at the time of investment, were rated Below Investment Grade.”
2. | Section 6.12 of the Purchase Agreement is hereby deleted and replaced in its entirety with the following text: |
“6.12 | Credit Quality |
Unless the Fund receives the prior written consent of Xxxxx Fargo (such consent to be determined in Xxxxx Fargo’s good faith discretion), the Fund will invest at least 80% of its Managed Assets in securities that, at the time of investment, are rated Investment Grade, or are unrated but judged to be of comparable quality by the Sub-Adviser, provided that the Fund will not invest in any securities that are not municipal securities and that, at the time of investment, are rated Below Investment Grade.”
3. | All references to the Purchase Agreement on and after the date hereof shall be deemed to refer to the Purchase Agreement as amended hereby, and the parties hereto agree that on and after the date hereof, the Purchase Agreement, as amended hereby, remains in full force and effect. |
4. | This Amendment may be executed in counterparts, each of which shall be deemed an original but together shall constitute one and the same instrument. |
5. | Except as otherwise set forth in this Amendment, all other terms and conditions of the Purchase Agreement shall remain the same and in full force and effect. Capitalized terms not otherwise defined in this Amendment shall have the meanings ascribed to them in the Purchase Agreement. |
6. | This Amendment shall be governed by and construed in accordance with the laws of the State of New York. |
7. | A copy of the Declaration of Trust of the Fund is on file with the Secretary of the Commonwealth of Massachusetts, and notice hereby is given that this Amendment is executed on behalf of the Fund by an officer of the Fund in his or her capacity as an officer of the Fund and not individually and that the obligations of the Fund under or arising out of this Amendment are not binding upon any of the Fund’s Trustees, officers or shareholders individually but are binding only upon the assets and properties of the Fund. |
[SIGNATURE PAGE FOLLOWS]
2
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the 28th day of February, 2017 and effective as of the day and year first above written.
NUVEEN CALIFORNIA QUALITY MUNICIPAL INCOME FUND (formerly known as Nuveen California Dividend Advantage Municipal Fund)
By: | /s/ Xxxxxxx X. Xxxxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxxxx | |||
Title: | Vice President and Secretary |
XXXXX FARGO MUNICIPAL CAPITAL STRATEGIES, LLC
By: | /s/ Xxxx Xxxxxx | |
Name: | Xxxx Xxxxxx | |
Title: | Vice President and Secretary |
3