Common use of Control Share Acquisitions Clause in Contracts

Control Share Acquisitions. The Trust shall be subject to Sections 3-701 through 3-707 (the “Control Share Act”) of the Maryland General Corporation Law to the same extent as if the Trust were a Maryland corporation registered under the 1940 Act as a closed-end investment company that had elected to be subject to the Control Share Act by resolution of its board of directors and, accordingly, the Control Share Act shall apply to any acquisition or proposed acquisition of Shares to the extent provided therein. Notwithstanding the foregoing sentence, (1) the Control Share Act shall not apply to the voting rights of the holders of any preferred shares issued by the Trust (but only with respect to such preferred shares);

Appears in 5 contracts

Sources: Agreement and Declaration of Trust (BlackRock Science & Technology Trust III), Agreement and Declaration of Trust (BlackRock ESG Capital Allocation Trust), Agreement and Declaration of Trust (BlackRock ESG Capital Allocation Trust)

Control Share Acquisitions. The Trust shall be subject to Sections 3-701 through 3-707 (the “Control Share Act”) of the Maryland General Corporation Law to the same extent as if the Trust were a Maryland corporation registered under the 1940 Act as a closed-closed end investment company that had elected to be subject to the Control Share Act by resolution of its board of directors and, accordingly, the Control Share Act shall apply to any acquisition or proposed acquisition of Shares to the extent provided therein. Notwithstanding the foregoing sentence, (1) the Control Share Act shall not apply to the voting rights of the holders of any preferred shares issued by the Trust (but only with respect to such preferred shares);

Appears in 2 contracts

Sources: Trust Agreement (BlackRock 2038 Municipal Target Term Trust), Amended and Restated Agreement and Declaration of Trust (BlackRock 2037 Municipal Target Term Trust)