Restrictions on Sale of Shares. During a period of 180 days from the date of the Prospectus, the Fund will not, without your prior written consent, directly or indirectly (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase or otherwise transfer or dispose of any senior security of the Fund, as defined in Section 18 of the Investment Company Act, or file any registration statement under the 1933 Act with respect to any of the foregoing or (ii) enter into any swap or any other agreement or any transaction that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of senior securities, whether any such swap or transaction described in clause (i) or (ii) above is to be settled by delivery of senior securities, in cash or otherwise. The foregoing sentence shall not apply to (A) the Shares to be sold hereunder or (B) transactions as contemplated in the Registration Statement where the Fund has segregated cash, cash equivalents or liquid securities at the Fund's custodian having a market value at all times at least equal to the amount of such senior securities.
Appears in 18 contracts
Samples: Purchase Agreement (Muniholdings Insured Fund Iii Inc), Purchase Agreement (Muniholdings Michigan Insured Fund Inc), Purchase Agreement (Muniholdings New Jersey Insured Fund Iii Inc)
