Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (a) The Board of Trustees 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 any Subsequent Rate Period of any series of AMPS for which the Applicable Rate is to be determined by auction. Each periodic implementation of such procedures is hereinafter referred to as an "Auction."
Appears in 3 contracts
Samples: Auction Agency Agreement (Dreman Claymore Dividend & Income Fund), Auction Agency Agreement (Ts&w / Claymore Tax-Advantaged Balanced Fund), Auction Agency Agreement (Advent Claymore Convertible Securities & Income Fund)
Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (a1) The Board of Trustees of the Fund Trust 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 any Subsequent Rate Period of any series of AMPS Preferred Shares for which the Applicable Rate is to be determined by auction. Each periodic implementation operation of such procedures is hereinafter referred to as an "Auction."
Appears in 2 contracts
Samples: Auction Agency Agreement (Blackrock Municipal Bond Trust), Auction Agency Agreement (Blackrock New York Municipal Bond Trust)
Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (a) The Board of Trustees Directors of the Fund has adopted a resolution appointing The Bank of New York Wilmington 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 any Subsequent Rate Period of any series of AMPS for which the Applicable Rate is to be determined by auction. Each periodic implementation operation of such procedures is hereinafter referred to as an "Auction."
Appears in 2 contracts
Samples: Auction Agency Agreement (Flaherty & Crumrine/Claymore Total Return Fund Inc), Auction Agency Agreement (F&c/Claymore Preferred Securities Income Fund Inc)
Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (a1) The Board of Trustees of the Fund Trust 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 any Subsequent Rate Period of any series of AMPS Preferred Shares for which the Applicable Rate is to be determined by auction. Each periodic implementation of such procedures is hereinafter referred to as an "Auction."
Appears in 1 contract
Samples: Auction Agency Agreement (Blackrock Insured Municipal Income Trust)
Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (a) The Board of Trustees of the Fund Trust 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 any Subsequent Rate Period of any series of AMPS for which the Applicable Rate is to be determined by auction. Each periodic implementation of such procedures is hereinafter referred to as an "“Auction."”
Appears in 1 contract
Samples: Auction Agency Agreement (BlackRock Preferred & Equity Advantage Trust)
Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (a) The Board of Trustees of the Fund Trust 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 any Subsequent Rate Period of any series of AMPS for which the Applicable Rate is to be determined by auction. Each periodic implementation of such procedures is hereinafter referred to as an "Auction."
Appears in 1 contract
Samples: Auction Agency Agreement (Blackrock Preferred Opportunity Trust)
Purpose; Incorporation by Reference of Auction Procedures and Settlement Procedures. (a) The Board of Trustees of the Fund Trust 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 any Subsequent Rate Period of any series of AMPS APS for which the Applicable Rate is to be determined by auction. Each periodic implementation of such procedures is hereinafter referred to as an "“Auction."”
Appears in 1 contract
Samples: Auction Agency Agreement (Blackrock Global Floating Rate Income Trust)
