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

• The Purchaser shall notify the Trustee and the Voting Consultant as soon as possible, and in any event, not later than five Business Days after receipt of notice that a vote of the holders of VMTP Shares has been requested or permitted on any Voting Matter and the Purchaser shall, within such same time frame, forward any information sent to the Purchaser in connection with such vote to the Trustee and the Voting Consultant by Electronic Means.

• On any and each date that the Purchaser sells or otherwise transfers any Subject Shares to another Beneficial Owner, the Purchaser shall promptly notify the Trustee of such occurrence and the number of VMTP Shares that the Purchaser then owns.

• No failure or delay by the Fund or the Shareholder in exercising any right, power or privilege under or in respect of the VMTP Shares shall affect the rights, powers or privileges of the Fund or the Shareholder hereunder or shall operate as a limitation or waiver thereof.

• No failure or delay by the Fund or the Shareholder in exercising any right, power or privilege hereunder or under the VMTP Shares shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege.

• No failure or delay by the Issuer or the Purchaser in exercising any right, power or privilege under or in respect of the VMTP Shares or any other Related Document shall affect the rights, powers or privileges of the Issuer or the Purchaser hereunder or shall operate as a limitation or waiver thereof.

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 Variable Rate MuniFund Term Preferred Shares, Series 2017, 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 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.