Common use of Credit Quality Clause in Contracts

Credit Quality. As of the Amendment and Restatement Date, the Issuer (i) has invested at least 70% of its Managed Assets in municipal securities that, at the time of investment, were rated within the four highest grades (rated Baa3 or better by ▇▇▇▇▇'▇ or BBB- or better by S&P or Fitch) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Adviser; and (ii) has invested no more than 30% of its Managed Assets in municipal securities that at the time of investment were rated below investment grade (rated Ba1 or lower by ▇▇▇▇▇'▇ or BB+ or lower by S&P or Fitch) or were unrated but judged to be of comparable quality by the Adviser.

Credit Quality. As of the Amendment and Restatement Date, the The Issuer (i) has invested will invest at least 70% of its Managed Assets in municipal securities that, at the time of investment, were rated within the four highest grades (rated Baa3 or better by ▇▇▇▇▇'▇ or BBB- or better by S&P or Fitch) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Adviser; and (ii) has invested no more than may invest up to 30% of its Managed Assets in municipal securities that at the time of investment were rated below investment grade (rated Ba1 or lower by ▇▇▇▇▇'▇ or BB+ or lower by S&P or Fitch) or were unrated but judged to be of comparable quality by the Adviser.

Credit Quality. As of the Amendment and Restatement Effective Date, the Issuer (i1) has invested at least 7080% of its Managed Assets in municipal securities that, at the time of investment, were rated within the four highest grades (rated Baa3 or better by ▇▇▇▇▇'’▇ or BBB- or better by S&P or Fitch) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Adviser; and (ii2) has invested no more than 30up to 20% of its Managed Assets in municipal securities that that, at the time of investment investment, were rated below investment grade (rated Ba1 or lower by ▇▇▇▇▇'’▇ or BB+ or lower by S&P or Fitch) or were unrated but judged to be of comparable quality by the Adviser.

Credit Quality. As of the Amendment and Restatement Date, the The Issuer (i) has invested will invest at least 70% of its Managed Assets in municipal securities that, at the time of investment, were rated within the four highest grades (rated Baa3 or better by ▇M▇▇▇▇'▇ or BBB- or better by S&P or Fitch) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Adviser; and (ii) has invested no more than may invest up to 30% of its Managed Assets in municipal securities that at the time of investment were rated below investment grade (rated Ba1 or lower by ▇M▇▇▇▇'▇ or BB+ or lower by S&P or Fitch) or were unrated but judged to be of comparable quality by the Adviser.

Credit Quality. As of the Amendment and Restatement Date, the Issuer (i) has invested at least 70% of its Managed Assets in municipal securities that, at the time of investment, were rated within the four highest grades (rated Baa3 or better by ▇M▇▇▇▇'▇ or BBB- or better by S&P or Fitch) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Adviser; and (ii) has invested no more than 30% of its Managed Assets in municipal securities that at the time of investment were rated below investment grade (rated Ba1 or lower by ▇M▇▇▇▇'▇ or BB+ or lower by S&P or Fitch) or were unrated but judged to be of comparable quality by the Adviser.

Credit Quality. As of the Amendment and Restatement Date, the Issuer (i) has invested at least 70% of its Managed Assets in municipal securities that, at the time of investment, were rated within the four highest grades (rated Baa3 or better by ▇▇▇▇▇'’▇ or BBB- or better by S&P or Fitch) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Adviser; and (ii) has invested no more than 30% of its Managed Assets in municipal securities that at the time of investment were rated below investment grade (rated Ba1 or lower by ▇▇▇▇▇'’▇ or BB+ or lower by S&P or Fitch) or were unrated but judged to be of comparable quality by the Adviser.

Credit Quality. As of the Amendment and Restatement Date, the The Issuer (i) has invested will invest at least 70% of its Managed Assets in municipal securities that, at the time of investment, were rated within the four highest grades (rated Baa3 or better by ▇▇▇▇▇'’▇ or BBB- or better by S&P or Fitch) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Adviser; and (ii) has invested no more than may invest up to 30% of its Managed Assets in municipal securities that at the time of investment were rated below investment grade (rated Ba1 or lower by ▇▇▇▇▇'’▇ or BB+ or lower by S&P or Fitch) or were unrated but judged to be of comparable quality by the Adviser.

Credit Quality. As of the Amendment and Restatement Effective Date, the Issuer (i1) has invested at least 7080% of its Managed Assets in municipal securities that, at the time of investment, were rated within the four highest grades (rated Baa3 or better by Moo▇▇’▇ ▇▇▇'▇ or BBB- or better by S&P or Fitch) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Adviser; and (ii2) has invested no more than 30up to 20% of its Managed Assets in municipal securities that that, at the time of investment investment, were rated below investment grade (rated Ba1 or lower by Moo▇▇’▇ ▇▇▇'▇ or BB+ or lower by S&P or Fitch) or were unrated but judged to be of comparable quality by the Adviser.