VMTP Shares definition

VMTP Shares has the meaning set forth in the preamble to this Agreement.

VMTP Shares means the variable rate munifund term preferred shares, Series 2019, of the Fund, with a par value of U.S.$.01 per share and a liquidation preference of U.S.$100,000 per share.

VMTP Shares means Variable Rate MuniFund Term Preferred Shares, $0.00001 par value per share, liquidation preference $100,000 per share plus an amount equal to accumulated but unpaid dividends thereon (whether or not earned or declared), of the Trust. The preferences, voting powers, restrictions, limitations as to dividends, qualifications, and terms and conditions of redemption of each series of VMTP Shares are set forth in the VMTP Shares Statement.

Examples of VMTP Shares in a sentence

• In connection with a Benchmark Replacement, the Fund will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary in these Articles or in any other related documents, any amendments implementing such Benchmark Replacement Conforming Changes will become effective only with the consent of the Holders of at least a majority of the 2018 VMTP Shares Outstanding.

• The 2018 VMTP Shares shall have the following terms for the 2023 Special Terms Period: Applicable Spread, Increased Rate, and Optional Redemption Premium.During the term of the 2023 Special Terms Period, the defined terms “Applicable Spread”, “Early Term Redemption Price”, “Increased Rate”, “Initial Rate Period”, “Optional Redemption Premium”, and “Purchaser” shall have the meanings ascribed to such terms herein and as defined, shall supersede the definitions provided for in the Articles.

• Also as further provided in this Section 2.2(i), prior to the Benchmark Transition Event, either the Fund or the Holders of at least a majority of the 2018 VMTP Shares Outstanding may make an Early Opt-In Election.

• Following a Benchmark Holdover Period, the Holders of the 2018 VMTP Shares shall be entitled to receive a special dividend on the 2018 VMTP Shares equal to the Retroactive Benchmark Adjustment when authorized by the Board of Directors and declared by the Fund.

More Definitions of VMTP Shares

VMTP Shares has the meaning set forth in the recitals to this Agreement.

VMTP Shares shall have the meaning as set forth in the Recitals of this Statement.

VMTP Shares means the shares of Series 2015/6-VTN Variable Rate Muni Term Preferred Shares of the Fund, with a liquidation preference of U.S.$100,000 or such lower liquidation preference as contemplated by Section 3.1.

VMTP Shares means the variable rate municipal term preferred shares, Series A, of the Fund, with a par value of U.S.$.0001 per share and a liquidation preference of U.S.$100,000 per share.

VMTP Shares means the Series 2023-1 Variable Rate MuniFund Term Preferred Shares of the Fund, with par value of U.S. $0.001 per share and a liquidation preference of U.S. $25,000 per share.

VMTP Shares means Variable Rate Municipal Term Preferred Shares, without par value, liquidation preference $25,000 per share plus an amount equal to accumulated but unpaid dividends thereon (whether or not earned or declared), of the Trust. The preferences, voting powers, restrictions, limitations as to dividends, qualifications and terms and conditions of redemption of each series of VMTP Shares are set forth in the VMTP Shares Statement.

VMTP Shares means the variable rate munifund term preferred shares, Series 2015/6-VPV, of the Fund, no par value per share and a liquidation preference of U.S.$100,000 per share.