Purpose; Incorporation by Reference of Auction Procedures. (a) On each Auction Date, the provisions of the Auction Procedures will be followed by the Auction Agent for the purpose of determining the Applicable Rate for each series of Preferred Shares, for each Dividend Period. Each periodic operation of such procedures is hereinafter referred to as an "Auction."
Purpose; Incorporation by Reference of Auction Procedures. (a) The Articles Supplementary provides that the Applicable Rate on the AMPS for each Dividend Period therefor after the initial Dividend Period shall be the rate per annum that a commercial bank, trust company or other financial institution appointed by the Fund advises results from the implementation of the Auction Procedures. The Board of Directors of the Fund has adopted a resolution appointing The Bank of New York as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for the AMPS for the next Dividend Period. Each periodic operation of such procedures is hereinafter referred to as an "Auction."
Purpose; Incorporation by Reference of Auction Procedures. (a) On each Auction Date, the provisions of the Auction Procedures will be followed by the Auction Agent for the purpose of determining the Applicable Rate for the Tortoise Notes for the next Rate Period. Each periodic operation of such procedures is hereinafter referred to as an "Auction."
Purpose; Incorporation by Reference of Auction Procedures. (a) The Articles Supplementary provides that the Applicable Dividend Rate on the APS for each Dividend Period therefor after the initial Dividend Period shall be the rate per annum that a commercial bank, trust company or other financial institution appointed by the Fund advises results from the implementation of the Auction Procedures. The Board of Directors of the Fund has adopted a resolution appointing The Bank of New York as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section II and the Auction Procedures for the purpose of determining the Applicable Dividend Rate for the APS for the next Dividend Period. Each periodic operation of such procedures is hereinafter referred to as an "Auction."
Purpose; Incorporation by Reference of Auction Procedures. (a) On each Auction Date, the provisions of the Auction Procedures will be followed by the Auction Agent for the purpose of determining the Applicable Dividend Rate for the APS, for each Dividend Period. Each periodic operation of such procedures is hereinafter referred to as an "Auction."
Purpose; Incorporation by Reference of Auction Procedures. Settlement Procedures;
Purpose; Incorporation by Reference of Auction Procedures. (a) The Certificate provides that the Applicable Rate on shares of each series of Preferred Shares, as the case may be, for each Dividend Period therefor after the initial Dividend Period shall be the rate per annum that a commercial bank, trust company or other financial institution appointed by the Trust advises results from the implementation of the Auction Procedures. The Board of Trustees of the Trust has adopted a resolution appointing Bankers Trust Company as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for the Preferred Shares for the next Dividend Period. Each periodic operation of such procedures is hereinafter referred to as an "Auction."
Purpose; Incorporation by Reference of Auction Procedures. (a) The Statement provides that the Applicable Rate on each Series of Preferred Shares for each Series' respective Dividend Period after the initial Dividend Period shall be the rate per annum that a commercial bank, trust company or other financial institution appointed by the Fund advises results from the implementation of the Auction Procedures. The Board of Trustees of the Fund has adopted a resolution appointing Deutsche Bank as Auction Agent for purposes of the Auction Procedures. The Auction Agent hereby accepts such appointment and agrees that, on each Auction Date, it shall follow the procedures set forth in this Section 2 and the Auction Procedures for the purpose of determining the Applicable Rate for each Series of the Preferred Shares for such Series' next Dividend Period. Each periodic operation of such procedures is hereinafter referred to as an "Auction."
Purpose; Incorporation by Reference of Auction Procedures. 2.2 Preparation for Each Auction; Maintenance of Registry of Existing Owners; and Redemptions.
Purpose; Incorporation by Reference of Auction Procedures. (a) The Indenture provides that the interest rate on the Bonds for each Auction Period after the Initial Period, except as provided in Section 2.04 of the Auction Procedures, shall equal the Auction Rate that an Auction Agent appointed by the Trustee determines to have resulted from implementation of the Auction Procedures. The Trustee, at the written direction of the Issuer, hereby appoints The Bank of New York as Auction Agent for purposes of the Auction Procedures and to perform such other obligations and duties as are set forth herein and in each Broker-Dealer Agreement, in each case, specified to be performed by the Auction Agent. The Auction Agent hereby accepts such appointment as Auction Agent and agrees that, on each Auction Date after the Initial Period, it shall follow the procedures set forth in the Auction Procedures for the purpose of, among other things, determining the Auction Period Rate for each Auction Period.
