Subsequent Dividend Reset Period definition

Subsequent Dividend Reset Period means the period from, and including, the first day following the Initial Dividend Reset Period to, and including, the next Wednesday (or, if such Wednesday is not a Business Day, the next Business Day) and each subsequent period from, and including, the first day following the end of the previous Subsequent Dividend Reset Period to, and including, the next Wednesday (or, if such Wednesday is not a Business Day, the next Business Day).

Subsequent Dividend Reset Period means, from and including October 1, 2018, the period from and including the first calendar day of the month following the Initial Dividend Reset Period to and including the last calendar day of such month and each subsequent period from and including the first calendar day of the month to and including the last calendar day of the month. Notwithstanding the foregoing, the final Subsequent Dividend Reset Period shall end on and include the earlier of (a) the last calendar day immediately the effective date of a new “Dividend Reset Period,” as established and defined pursuant to Section 2.1(h) of the Supplement and (b) the Mode Termination Date. (k) Section 2.1(a) of the Original Supplement is hereby amended and restated in its entirety as follows: The amount of dividends per share payable on MFP Shares on any Dividend Payment Date shall equal the sum of the dividends accumulated but not yet paid for each Dividend Reset Period (or portion thereof) in the related Dividend Period. The amount of dividends per share accumulated for each such Dividend Reset Period (or portion thereof) shall be computed by (i) multiplying the Dividend Rate in effect for MFP Shares for such Dividend Reset Period (or portion thereof) by a fraction, the numerator of which shall be the actual number of days in such Dividend Reset Period (or portion thereof) and the denominator of which shall be 360 and (ii) multiplying the product determined pursuant to clause (i) by the Liquidation Preference for an MFP Share. The Dividend Rate for the MFP Shares shall be adjusted to the Increased Rate for each Increased Rate Period (or portion of a Dividend Reset Period) as provided in Section 2.1(f) below. For each Dividend Reset Period (or portion thereof) during the Failed Transition Period, if any, the Dividend Rate shall be the Failed Transition Period Dividend Rate. (l) Section 2.1(h)(iv) of the Original Supplement is hereby amended and restated in its entirety as follows: The Fund and the Required Beneficial Owners shall have until the 540th calendar day following the date of delivery of a Rate Adjustment Notice, or such other date as the Fund and the Required Beneficial Owners shall agree, to agree in writing to proposed Adjusted Dividend Rate terms pursuant to the Rate Adjustment Notice (the date of such written agreement, the “Rate Adjustment Agreement Date”). The agreed Adjusted Dividend Rate terms, if any, may be the rate terms proposed in the Rate Adjustment Notice or such other rate t...

Subsequent Dividend Reset Period under the heading “Definitions” in the Original Supplement is hereby amended and restated in its entirety as follows:

Examples of Subsequent Dividend Reset Period in a sentence

• In the event of a Failed Remarketing Condition, the Dividend Rate as of the close of business on the day the Failed Remarketing Condition first occurs will be adjusted to the Maximum Rate (with the Applicable Spread subject to adjustment as set forth in the definition of Applicable Spread) and the Maximum Rate will continue to be the Dividend Rate until the first day of the next succeeding Subsequent Dividend Reset Period after a Failed Remarketing Condition no longer exists.

• The Remarketing Agent shall establish the Dividend Rate by 5:00 p.m., New York City time, on each Rate Determination Date to the nearestone-thousandth (0.001) of one percent per annum for the Subsequent Dividend Reset Period.

• In the event that the Remarketing Agent establishes the Maximum Rate as the Dividend Rate for a Subsequent Dividend Reset Period, the Remarketing Agent shall notify the Fund and the Tender and Paying Agent.

• The Fund will require in the Tender and Paying Agent Agreement that the Tender and Paying Agent will notify the Liquidity Provider and the Holders of MFP Shares by first class mail, postage prepaid (in the case of physical shares outside the book-entry system of the Securities Depository), or Electronic Means (in the case of MFP Shares in the form of global securities), that the Dividend Rate for the Subsequent Dividend Reset Period is the Maximum Rate.

More Definitions of Subsequent Dividend Reset Period

Subsequent Dividend Reset Period means, from and including October 1, 2018, the period from and including the first calendar day of the month following the Initial Dividend Reset Period to and including the last calendar day of such month and each subsequent period from and including the first calendar day of the month to and including the last calendar day of the month. Notwithstanding the foregoing, the final Subsequent Dividend Reset Period shall end on and include the earlier of (a) the last calendar day immediately the effective date of a new “Dividend Reset Period,” as established and defined pursuant to Section 2.1(h) of the Supplement and (b) the Mode Termination Date.