Company: MYI
Filing Date: 2025-07-16
Form Type: N-14 8C
Source: 0001193125-25-159991
Chunk: 209

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-07-16
Form: N-14 8C
Chunk 209
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 cash or high-grade securities as a reserve against interest or principal payments and expenses. MIY expects that any credit facility would have customary covenant, negative covenant and default provisions. There can be no
assurance that MIY will enter into an agreement for a credit facility, or one on terms and conditions representative of the foregoing, or that additional material terms

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will not apply. In addition, if entered into, a credit facility may in the future be
replaced or refinanced by one or more credit facilities having substantially different terms or by the issuance of preferred shares.

Derivatives.MIY may enter into derivative transactions that have leverage embedded in them. Derivative transactions that MIY may enter
into and the risks associated with them are described elsewhere and are also referred to as “.” MIY cannot assure you that investments in derivative transactions that have leverage embedded in them will result
in a higher return on its common shares. Under Rule 18f-4 under the 1940 Act, among other things, MIY must either use derivatives in a limited manner or comply with an outer limit on fund leverage risk based
on value-at-risk.

Temporary Borrowings.MIY may also borrow money
as a temporary measure for extraordinary or emergency purposes, including the payment of dividends and the settlement of securities transactions which otherwise might require untimely dispositions of MIY securities.

MVF’s Investment Objective and Policies

MVF’s investment objective is to provide stockholders with as high a level of current income exempt from federal income taxes as is consistent with its
investment policies and prudent investment management. MVF’s investment policies provide that it seeks to achieve its investment objective by investing, as a fundamental policy, at least 80% of an aggregate of MVF’s net assets (including
proceeds from the issuance of preferred stock), and the proceeds of any borrowings for investment purposes, in a portfolio of municipal obligations issued by or on behalf of states, territories and possessions of the United States and their
political subdivisions, agencies or instrumentalities, each of which pays interest that, in the opinion of bond counsel to the issuer, is excludable from gross income for federal income tax purposes (except that the interest may be includable in
taxable income for purposes of the Federal alternative minimum tax) (“”). MVF may invest directly in securities or synthetically through the use of derivatives. There can be no assurance that MVF’s investment
objective will be realized.

MVF may invest up to 20% of