Amendment No. 1 to the Third Amended and Restated Securities Lending Agency Agreement
Exhibit 8(e)
Amendment No. 1 to the Third Amended and Restated
Securities Lending Agency Agreement
This Amendment No. 1 to the Third Amended and Restated Securities Lending Agency Agreement dated as of January 19, 2017 (the “Amendment”) is entered into between each investment company severally and not jointly, identified on Schedule A (each, a “Client”), acting on behalf of itself or the funds listed on Schedule A and any future series of a Client (each, a “Fund”), by and through BlackRock Advisors, LLC (“BlackRock”), not in its individual capacity but as agent and investment advisor, and BlackRock Investment Management, LLC (the “Lending Agent”), a Delaware limited liability company. Capitalized terms used herein and not otherwise defined shall have the meaning or meanings as set forth in the Securities Lending Agency Agreement (as defined below).
WHEREAS, each Client, acting on behalf of itself or its Funds, by and through BlackRock, and the Lending Agent have entered into a Third Amended and Restated Securities Lending Agency Agreement dated January 1, 2015 (the “Securities Lending Agency Agreement”) pursuant to which the Lending Agent acts as the agent for each Client and its corresponding Funds, as applicable, for the purpose of lending securities; and
WHEREAS, the parties to the Securities Lending Agency Agreement desire to amend the Securities Lending Agency Agreement as set forth herein.
NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows:
1. | The eighth sentence of Section 18 of the Securities Lending Agency Agreement is hereby deleted in its entirety and replaced with the following: |
“The Lending Agent Fee Percentage for each Fund is set forth in Appendix A hereto, as such Appendix may be amended from time to time.” |
2. | Section 2 of Appendix A to the Securities Lending Agency Agreement is hereby deleted in its entirety and replaced with the following: |
“2. | For the Funds in the Closed-End Complex, notwithstanding paragraph 1 above, if at any point during a calendar year, the aggregate gross revenues earned by such Funds and any other funds in such Lending Complex (and any future fund in such Lending Complex) prior to payment of compensation to the Lending Agent exceed $325,000 (the “CE Breakpoint”), the Lending Agent Fee Percentage set forth above shall be reduced to fifteen percent (15%) in allocating net income after gross revenues for the calendar year equal the CE Breakpoint. The adjusted allocation shall become effective on incremental gross income starting on the next business day after the CE Breakpoint is reached.” |
3. | Schedule A to the Securities Lending Agency Agreement is hereby replaced with Schedule A attached hereto. |
4. | Appendix B to the Securities Lending Agency Agreement is hereby replaced with Appendix B attached hereto. |
5. | Counterparts. This Amendment may be executed in two or more counterparts, each of which shall be an original and all of which together shall constitute one instrument. |
6. | Miscellaneous. Except to the extent supplemented, amended or consented to hereby, the Securities Lending Agency Agreement shall remain unchanged and in full force and effect, and is hereby ratified and confirmed in all respects as supplemented, amended or consented to hereby. |
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IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment No. 1 to the Securities Lending Agency Agreement to be executed in its name and behalf as of the day and year first set forth above.
BLACKROCK ADVISORS, LLC, on behalf of the investment companies indicated on Schedule A | ||||
By: | /s/ Xxxx Xxxxxxxxx | |||
Name: | Xxxx Xxxxxxxxx | |||
Title: | Managing Director | |||
BLACKROCK INVESTMENT MANAGEMENT, LLC, as Lending Agent | ||||
By: | /s/ Xxxxxxx Xxxxxxxxxx | |||
Name: | Xxxxxxx Xxxxxxxxxx | |||
Title: | Managing Director |
Exhibit 1
Schedule A: Clients and Funds
Closed-End Complex
BlackRock 2022 Global Income Opportunities Trust1
BlackRock Enhanced Capital and Income Fund, Inc.
BlackRock California Municipal 2018 Term Trust
BlackRock California Municipal Income Trust
Blackrock Core Bond Trust
BlackRock Corporate High Yield Fund, Inc.
BlackRock Credit Allocation Income Trust
BlackRock Debt Strategies Fund, Inc.
BlackRock Defined Opportunity Credit Trust
BlackRock Energy and Resources Trust
BlackRock Enhanced Equity Dividend Trust
BlackRock Enhanced Government Fund, Inc.
BlackRock Floating Rate Income Strategies Fund, Inc.
BlackRock Floating Rate Income Trust
BlackRock Florida Municipal 2020 Term Trust
BlackRock Global Opportunities Equity Trust
BlackRock Health Sciences Trust
BlackRock Income Trust, Inc.
BlackRock International Growth and Income Trust
BlackRock Investment Quality Municipal Trust, Inc.
BlackRock Limited Duration Income Trust
BlackRock Long-Term Municipal Advantage Trust
BlackRock Maryland Municipal Bond Trust
BlackRock Massachusetts Tax-Exempt Trust
BlackRock Multi-Sector Income Trust
BlackRock Muni Intermediate Duration Fund, Inc.
BlackRock Muni New York Intermediate Duration Fund, Inc.
BlackRock MuniAssets Fund, Inc.
BlackRock Municipal 2018 Term Trust
BlackRock Municipal 2020 Term Trust
BlackRock Municipal 2030 Target Term Trust
BlackRock Municipal Bond Trust
BlackRock Municipal Income Investment Quality Trust
BlackRock Municipal Income Investment Trust
BlackRock Municipal Income Quality Trust
BlackRock Municipal Income Trust
BlackRock Municipal Income Trust II
BlackRock MuniEnhanced Fund, Inc.
BlackRock MuniHoldings California Quality Fund, Inc.
BlackRock MuniHoldings Fund II, Inc.
BlackRock MuniHoldings Fund, Inc.
BlackRock MuniHoldings Investment Quality Fund
BlackRock MuniHoldings New Jersey Quality Fund, Inc.
Sched X-0
Xxxxxxx 0
XxxxxXxxx XxxxXxxxxxxx Xxx Xxxx Quality Fund, Inc.
BlackRock MuniHoldings Quality Fund II, Inc.
BlackRock MuniHoldings Quality Fund, Inc.
BlackRock MuniVest Fund II, Inc.
BlackRock MuniVest Fund, Inc.
BlackRock MuniYield Arizona Fund, Inc.
BlackRock MuniYield California Fund, Inc.
BlackRock MuniYield California Quality Fund, Inc.
BlackRock MuniYield Fund, Inc.
BlackRock MuniYield Investment Fund
BlackRock MuniYield Investment Quality Fund
BlackRock MuniYield Michigan Quality Fund, Inc.
BlackRock MuniYield New Jersey Fund, Inc.
BlackRock MuniYield New York Quality Fund, Inc.
BlackRock MuniYield Pennsylvania Quality Fund
BlackRock MuniYield Quality Fund II, Inc.
BlackRock MuniYield Quality Fund III, Inc.
BlackRock MuniYield Quality Fund, Inc.
BlackRock New Jersey Municipal Bond Trust
BlackRock New Jersey Municipal Income Trust
BlackRock New York Municipal 2018 Term Trust
BlackRock New York Municipal Bond Trust
BlackRock New York Municipal Income Quality Trust
BlackRock New York Municipal Income Trust
BlackRock New York Municipal Income Trust II
BlackRock Preferred Partners LLC
BlackRock Resources & Commodities Strategy Trust
BlackRock Science and Technology Trust
BlackRock Taxable Municipal Bond Trust
BlackRock Utility and Infrastructure Trust
BlackRock Virginia Municipal Bond Trust
The BlackRock Strategic Municipal Trust
1 | Initial public offering scheduled to close in February 2017. |
Equity-Liquidity Complex
BBIF Money Fund
BBIF Treasury Fund
BIF Money Fund
BIF Treasury Fund
BlackRock Emerging Markets Fund, Inc.
BlackRock Financial Institutions Series Trust
BlackRock Summit Cash Reserves Fund
BlackRock FundsSM
BlackRock All-Cap Energy & Resources Portfolio
Sched A-2
Exhibit 1
BlackRock Advantage Large Cap Core Fund
BlackRock Alternative Capital Strategies Fund
BlackRock Commodity Strategies Fund
BlackRock Developed Real Estate Index Fund
BlackRock Disciplined Small Cap Core Fund1
BlackRock Emerging Markets Dividend Fund
BlackRock Emerging Markets Equity Strategies Fund
BlackRock Emerging Markets Long/Short Equity Fund
BlackRock Energy & Resources Portfolio
BlackRock Exchange Portfolio
BlackRock Flexible Equity Fund
BlackRock Global Long/Short Credit Fund
BlackRock Global Long/Short Equity Fund
BlackRock Global Opportunities Portfolio
BlackRock Health Sciences Opportunities Portfolio
BlackRock Impact Bond Fund
BlackRock Impact U.S. Equity Fund
BlackRock International Aggregate Bond Index Fund
BlackRock International Opportunities Portfolio
BlackRock Mid-Cap Growth Equity Portfolio
BlackRock Midcap Index Fund
BlackRock Min Vol EAFE Index Fund
BlackRock Min Vol USA Index Fund
BlackRock Money Market Portfolio
BlackRock MSCI Asia ex Japan Index Fund
BlackRock MSCI World Index Fund
BlackRock Multifactor International Index Fund
BlackRock Multifactor USA Index Fund
BlackRock Multi-Manager Alternative Strategies Fund
BlackRock Real Estate Securities Fund
BlackRock Science & Technology Opportunities Portfolio
BlackRock Short Obligations Fund
BlackRock Short-Term Inflation-Protected Securities Index Fund
BlackRock Small Cap Growth Equity Portfolio2
BlackRock Small/Mid Cap Index Fund
BlackRock Strategic Risk Allocation Fund3
BlackRock Tactical Opportunities Fund
BlackRock Total Emerging Markets Fund
BlackRock Total Stock Market Index Fund
BlackRock USA Momentum Factor Index Fund
BlackRock USA Quality Factor Index Fund
BlackRock USA Size Factor Index Fund
BlackRock USA Value Factor Index Fund
BlackRock U.S. Opportunities Portfolio
BlackRock Index Funds, Inc.
BlackRock International Index Fund
Sched A-3
Exhibit 1
BlackRock Small Cap Index Fund
BlackRock Large Cap Series Funds, Inc.
BlackRock Event Driven Equity Fund
BlackRock Large Cap Core Fund
BlackRock Large Cap Growth Fund
BlackRock Large Cap Value Fund
BlackRock Large Cap Value Retirement Portfolio
BlackRock Latin America Fund, Inc.
BlackRock Liquidity Funds
California Money Fund
Federal Trust Fund
FedFund
MuniCash
MuniFund
New York Money Fund
TempCash
TempFund
T-Fund
Treasury Trust Fund
BlackRock Master LLC
BlackRock Master International Portfolio
BlackRock Master Small Cap Growth Portfolio
BlackRock Pacific Fund, Inc.
BlackRock Series, Inc.
BlackRock International Fund
BlackRock Small Cap Growth Fund II
Funds For Institutions Series
BlackRock Premier Government Institutional Fund
BlackRock Select Treasury Strategies Institutional Fund
BlackRock Treasury Strategies Institutional Fund
FFI Government Fund
FFI Treasury Fund
Master Institutional Money Market LLC
Master Premier Government Institutional Portfolio
Master Treasury Strategies Institutional Portfolio
Master Large Cap Series LLC
Master Large Cap Core Portfolio
Master Large Cap Growth Portfolio
Master Large Cap Value Portfolio
Master Money LLC
Master Treasury LLC
Quantitative Master Series LLC
Master Extended Market Index Series
Sched A-4
Exhibit 1
Master Small Cap Index Series
Ready Assets Government Liquidity Fund
Ready Assets U.S.A. Government Money Fund
Ready Assets U.S. Treasury Money Fund
Retirement Series Trust
Retirement Reserves Money Fund
1 | Name change to BlackRock Advantage Small Cap Core Fund expected in February 2017. |
2 | Name change to BlackRock Advantage Small Cap Growth Fund expected in February 2017. |
3 | Name change to BlackRock Total Factor Fund expected in February 2017. |
Equity-Bond Complex
BlackRock Allocation Target Shares
BATS: Series A Portfolio
BATS: Series C Portfolio
BATS: Series E Portfolio
BATS: Series M Portfolio
BATS: Series P Portfolio
BATS: Series S Portfolio
BlackRock Balanced Capital Fund, Inc.
BlackRock Basic Value Fund, Inc.
BlackRock Bond Fund, Inc.
BlackRock Total Return Fund
BlackRock California Municipal Series Trust
BlackRock California Municipal Opportunities Fund
BlackRock Capital Appreciation Fund, Inc.
BlackRock XxXX Funds
BlackRock XxXX 2015 Fund
BlackRock XxXX 2017 Fund
BlackRock XxXX 2019 Fund
BlackRock XxXX 2021 Fund
BlackRock XxXX 2023 Fund
BlackRock Equity Dividend Fund
BlackRock EuroFund
BlackRock Focus Growth Fund, Inc.
BlackRock Funds II
BlackRock 20/80 Target Allocation Fund
BlackRock 40/60 Target Allocation Fund
BlackRock 60/40 Target Allocation Fund
BlackRock 80/20 Target Allocation Fund
BlackRock Core Bond Portfolio
BlackRock Credit Strategies Income Fund
BlackRock Dynamic High Income Portfolio
BlackRock Emerging Markets Flexible Dynamic Bond Portfolio
BlackRock Floating Rate Income Portfolio
BlackRock Global Dividend Portfolio
Sched A-5
Exhibit 1
BlackRock GNMA Portfolio
BlackRock High Yield Bond Portfolio
BlackRock Inflation Protected Bond Portfolio
BlackRock LifePath® Smart Beta 2020 Fund
BlackRock LifePath® Smart Beta 2025 Fund
BlackRock LifePath® Smart Beta 2030 Fund
BlackRock LifePath® Smart Beta 2035 Fund
BlackRock LifePath® Smart Beta 2040 Fund
BlackRock LifePath® Smart Beta 2045 Fund
BlackRock LifePath® Smart Beta 2050 Fund
BlackRock LifePath® Smart Beta 2055 Fund
BlackRock LifePath® Smart Beta Retirement Fund
BlackRock Low Duration Bond Portfolio
BlackRock Managed Income Fund
BlackRock Multi-Asset Income Portfolio
BlackRock Strategic Income Opportunities Portfolio
BlackRock U.S. Government Bond Portfolio
BlackRock Global Allocation Fund, Inc.
BlackRock Global SmallCap Fund, Inc.
BlackRock Long-Horizon Equity Fund
BlackRock Mid Cap Value Opportunities Series, Inc.
BlackRock Mid Cap Value Opportunities Fund
BlackRock Multi-State Municipal Series Trust
BlackRock New Jersey Municipal Bond Fund
BlackRock New York Municipal Opportunities Fund
BlackRock Pennsylvania Municipal Bond Fund
BlackRock Municipal Bond Fund, Inc.
BlackRock High Yield Municipal Fund
BlackRock National Municipal Fund
BlackRock Short-Term Municipal Fund
BlackRock Municipal Series Trust
BlackRock Strategic Municipal Opportunities Fund
BlackRock Natural Resources Trust
BlackRock Series Fund, Inc.
BlackRock Balanced Capital Portfolio
BlackRock Capital Appreciation Portfolio
BlackRock Global Allocation Portfolio
BlackRock Government Money Market Portfolio
BlackRock High Yield Portfolio
BlackRock Large Cap Core Portfolio
BlackRock Total Return Portfolio
BlackRock U.S. Government Bond Portfolio
BlackRock Strategic Global Bond Fund, Inc.
BlackRock Value Opportunities Fund, Inc.
BlackRock Variable Series Funds, Inc.
BlackRock Basic Value V.I. Fund
Sched A-6
Exhibit 1
BlackRock Capital Appreciation V.I. Fund
BlackRock Equity Dividend V.I. Fund
BlackRock Global Allocation V.I. Fund
BlackRock Global Opportunities V.I. Fund
BlackRock Government Money Market V.I. Fund
BlackRock High Yield V.I. Fund
BlackRock International V.I. Fund
BlackRock iShares® Alternative Strategies V.I. Fund
BlackRock iShares® Dynamic Allocation V.I. Fund
BlackRock iShares® Dynamic Fixed Income V.I. Fund
BlackRock iShares® Equity Appreciation V.I. Fund
BlackRock Large Cap Core V.I. Fund
BlackRock Large Cap Growth V.I. Fund
BlackRock Large Cap Value V.I. Fund
BlackRock Managed Volatility V.I. Fund
BlackRock S&P 500 Index V.I. Fund
BlackRock Total Return V.I. Fund
BlackRock U.S. Government Bond V.I. Fund
BlackRock Value Opportunities V.I. Fund
FDP Series, Inc.
FDP BlackRock Franklin Xxxxxxxxx Total Return Fund1
FDP BlackRock Invesco Value Fund
FDP BlackRock Janus Growth Fund
FDP BlackRock MFS Research International Fund
Managed Account Series
BlackRock U.S. Mortgage Portfolio
Global SmallCap Portfolio
Mid Cap Value Opportunities Portfolio
Master Bond LLC
Master Total Return Portfolio
Master Focus Growth LLC
Master Value Opportunities LLC
1 | Name change to FDP BlackRock CoreAlpha Bond Fund expected in March 2017. |
Amended: January 19, 2017
Sched X-0
Xxxxxxx 0
Xxxxxxxx X
Master Investment Portfolio
CoreAlpha Bond Master Portfolio
Money Market Master Portfolio
Prime Money Market Master Portfolio
Treasury Money Market Master Portfolio
U.S. Total Bond Index Master Portfolio
Amended: January 19, 2017
App B-1