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Title: |
Auction Agency Agreement |
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Entities: |
Cede & Co.; Van Kampen Advantage Municipal Income Trust II; A.G. Edwards & Sons, Inc.; Goldman, Sachs & Co. |
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Date: |
2005 |
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Size: |
Preview shows 12KB of 72KB total |
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Price: |
$39 |
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ID: |
#2359491 |
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AUCTION AGENCY AGREEMENT
between
VAN KAMPEN MERRITT ADVANTAGE MUNICIPAL INCOME TRUST II
and
BANKERS TRUST COMPANY
Dated as of November 10, 1993
Relating to
Auction Preferred Shares
Series A and Series B
of
VAN KAMPEN MERRITT ADVANTAGE MUNICIPAL INCOME TRUST II
{PAGE}
TABLES OF CONTENTS
{TABLE}
{CAPTION}
PAGE
{S} {C}
1. Definitions and Rules of Construction................................................... 1
1.1 Terms Defined by Reference to APS..................................... 1
Provisions............................................................ 1
1.2 Terms Defined Herein.................................................. 1
1.3 Rules of Construction................................................. 3
2. The Auction............................................................................. 4
2.1 Purpose; Incorporation by Reference
of Auction Procedures and Settle-
ment Procedures....................................................... 4
2.2 Preparation of Each Auction; Main-
tenance of Registry of Beneficial
Owners................................................................ 4
2.3 Information Concerning Rates.......................................... 7
2.4 Auction Schedule...................................................... 11
2.5 Designation of Special Dividend
Period................................................................ 12
2.6 Allocation of Taxable Income.......................................... 14
2.7 Failure to Deposit.................................................... 14
2.8 Broker-Dealers........................................................ 17
2.9 Ownership of APS...................................................... 17
2.10 Access to and Maintenance of Auc-
tion Records.......................................................... 18
2.11 Dividend and Redemption Price De-
posit................................................................. 18
3. The Auction Agent as Dividend and
Redemption Price Disbursing Agent....................................................... 18
4. The Auction Agent as Transfer Agent and Registrar....................................... 19
4.1 Issue of Share Certificates........................................... 19
4.2 Registration of Transfer of Shares.................................... 19
4.3 Removal of Legend on Restricted
Shares................................................................ 19
4.4 Lost Share Certificates............................................... 20
4.5 Disposition of Cancelled Certifi-
cates; Record Retention............................................... 20
4.6 Share Transfer Books.................................................. 20
4.7 Return of Funds....................................................... 21
5. Representations and Warranties of the Fund.............................................. 21
{/TABLE}
{PAGE}
{TABLE}
{S} {C}
6. The Auction Agent....................................................................... 22
6.1 Duties and Responsibilities........................................... 22
6.2 Rights of the Auction Agent........................................... 23
6.3 Auction Agent's Disclaimer............................................ 23
6.4 Compensation, Expenses and
Indemnification....................................................... 24
7. Miscellaneous........................................................................... 24
7.1 Term of Agreement..................................................... 25
7.2 Communications........................................................ 25
7.3 Entire Agreement...................................................... 26
7.4 Benefits.............................................................. 26
7.5 Amendment; Waiver..................................................... 26
7.6 Successors and Assigns................................................ 26
7.7 Limitation of Liability............................................... 27
7.8 Severability.......................................................... 27
7.9 Execution in Counterparts............................................. 27
7.10 Governing Law......................................................... 27
{/TABLE}
2
{PAGE}
AUCTION AGENCY AGREEMENT dated as of November 10, 1993 between VAN
KAMPEN MERRITT ADVANTAGE MUNICIPAL INCOME TRUST II, a Massachusetts business
trust (the "Fund"), and BANKERS TRUST COMPANY, a New York banking corporation
(the "Auction Agent").
WHEREAS, the Fund proposes to issue two series of preferred shares of
beneficial interest, par value $.01 per share, liquidation preference $50,000
per share, designated Auction Preferred Shares, Series A ("APS Series A") and
Auction Preferred Shares, Series B ("APS Series B") (together) the APS Series A
and APS Series B are referred to herein as the "APS") pursuant to the APS
Provisions (as hereinafter defined) and desires that the Auction Agent perform
certain duties in connection with the APS upon the terms and subject to the
conditions of this Agreement, and hereby appoints the Auction Agent to act in
the capacities set forth in this Agreement.
NOW, THEREFORE, in consideration of the premises and the mutual
covenants contained herein, the Fund and the Auction Agent agree as follows:
1. Definitions and Rules of Construction.
1.1 Terms Defined by Reference to APS Provisions. Capitalized terms not
defined herein shall have the respective meanings meanings specified in the APS
Provisions.
1.2 Terms Defined Herein. As used herein and in the Settlement
Procedures, the following terms shall have the following meanings, unless the
context otherwise requires:
(a) "Agent Member" of any Person shall mean the member of, or
participant in, the securities Depository that will act on behalf of a Bidder
and is identified as such in such Bidder's Master Purchaser's Letter.
(b) "APS Provisions" shall mean the Certifi-cate of Vote of
the Fund's Board of Trustees establishing the series of shares of APS pursuant
to the Declaration of Trust of the Fund and attached hereto as Exhibit D.
(c) "Auction" shall have the meaning specified in Section 2.1
hereof.
{PAGE}
(d) "Auction Procedures" shall mean the auction procedures
constituting Part II of the form of APS Provisions.
(e) "Authorized Officer" shall mean each Senior Vice
President, Vice President, Assistant Vice President, Assistant Treasurer and
Assistant Secretary of the Auction Agent and every other officer or employee of
the Auction Agent designated as an "Authorized Officer" for purposes hereof in a
communication to the Fund.
(f) "Broker-Dealer" shall mean any broker-dealer, commercial
bank or other entity permitted by law to perform the functions of a
Broker-Dealer that is a member of, or a participant in, the Securities
Depository or is an affiliate of such member or participant, has been selected
by the Fund and has entered into a Broker-Dealer Agreement that remains
effective.
(g) "Broker-Dealer Agreement" shall mean each agreement among
the Fund, the Auction Agent and a Broker-Dealer substantially in the form
attached hereto as Exhibit A.
(h) "Existing Holder," when used with respect to shares of any
series of APS, shall mean a Person who has signed a Master Purchaser's Letter
and is listed as the beneficial owner of such shares of APS in the records of
the Auction Agent.
(i) "Fund Officer" shall mean the Chairman of the Board of
Trustees of the Fund, the President, each Vice President (whether or not
designated by a number or word or words added before or after the title "Vice
President"), the Secretary, the Treasurer, each Assistant Secretary and each
Assistant Treasurer of the Fund and every other officer or employee of the Fund
designated as a "Fund Officer" for purposes hereof in a notice to the Auction
Agent.
(j) "Master Purchaser's Letter" shall mean a letter addressed
to the Fund, the Auction Agent, a Broker-Dealer and an Agent Member,
substantially in the form attached hereto as Exhibit B.
(k) "Potential Holder," when used with respect to shares of
any series of APS, shall mean any
2
{PAGE}
Person, including any Existing Holder of shares of such series of APS, (i) who
shall have executed a Master Purchaser's Letter and (ii) who may be interested
in acquiring shares of such series of APS (or, in the case of an Existing Holder
of shares of such series of APS, additional shares of such series of APS).
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