Common use of Appointment of Depository Clause in Contracts

Appointment of Depository. The Fund hereby appoints (i) the Trust Company, and the Trust Company hereby accepts such appointment, as depository for the MuniFund Term Preferred Shares of each series deposited hereunder, and (b) the Service Agent, and the Service Agent hereby accepts such appointment, as services agent for the Trust Company, all on the terms and conditions set forth in this Agreement.