VMTP Shares Statement definition

VMTP Shares Statement means the Statement Establishing and Fixing the Rights and Preferences of VMTP Shares, together with the appendices thereto, attached as Exhibit 1 to these Bylaws.

VMTP Shares Statement means the Statement Establishing and Fixing the Rights and Preferences of Variable Rate Municipal Term Preferred Shares, together with the appendices and exhibits thereto, attached as Exhibit 2 to this Statement.

Examples of VMTP Shares Statement in a sentence

• Each such additional series and all such additional VMTP Shares shall be governed by the terms of the VMTP Shares Statement.

• Unless otherwise provided, defined terms used in Article 11 hereto apply only to the APS and defined terms used in the VMTP Shares Statement apply only to the VMTP Shares.

• These Bylaws and the VMTP Shares Statement are intended such that the APS and the VMTP Shares are in parity with each other, such that neither shall have a preference or priority over the other with respect to the payment of dividends and the distribution of assets of the Trust upon dissolution, liquidation, or winding up of the affairs of the Trust, and shall be interpreted accordingly.

• These Bylaws and the VMTP Shares Statement (as defined below) attached as Exhibit 1 hereto are intended such that the APS and the VMTP Shares are in parity with each other, such that neither shall have a preference or priority over the other with respect to the payment of dividends and the distribution of assets of the Trust upon dissolution, liquidation, or winding up of the affairs of the Trust and shall be interpreted accordingly.

• The VMTP Shares Statement is attached to these Bylaws as Exhibit 1, which is hereby incorporated by reference into and made a part of these Bylaws.

• These By-Laws and the VMTP Shares Statement attached as Exhibit 2 are intended such that the Municipal Preferred and VMTP Shares are in parity with each other, such that neither shall have a preference or priority over the other with respect to the payment of dividends and the distribution of assets of the Trust upon dissolution, liquidation, or winding up of the affairs of the Trust, and shall be interpreted accordingly.

• A Statement Establishing and Fixing the Rights and Preferences of one type of such preferred shares, Variable Rate MuniFund Term Preferred Shares (the "VMTP Shares Statement"), is attached to these Bylaws as Exhibit 1, which is hereby incorporated by reference into and made a part of these Bylaws.

• The Board of Trustees of the Trust may, in their discretion, increase the number of shares of Municipal Preferred or VMTP Shares authorized under these By-laws to authorize the issuance of another series of Municipal Preferred or VMTP Shares so long as such issuance is permitted by paragraph 5 of this Part I of this Section 12.1 and by the VMTP Shares Statement.

• This Statement and the VMTP Shares Statement attached as Exhibit 2 are intended such that the Municipal Preferred and VMTP Shares are in parity with each other, such that neither shall have a preference or priority over the other with respect to the payment of dividends and the distribution of assets of the Trust upon dissolution, liquidation, or winding up of the affairs of the Trust, and shall be interpreted accordingly.

• The Board of Trustees of the Trust may, in their discretion, increase the number of shares of Municipal Preferred or VMTP Shares authorized under these By-laws to authorize the issuance of another series of Municipal Preferred or VMTP Shares so long as such issuance is permitted by paragraph 5 of Part I of this Section 12.1 and by the VMTP Shares Statement.