Company: GGT-PG
Filing Date: 2025-04-17
Form Type: 424B2
Source: 0001999371-25-004396
Chunk: 38

Company: GABELLI MULTIMEDIA TRUST INC.
Filing Date: 2025-04-17
Form: 424B2
Chunk 38
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 the extent not included in the liquidation preference of such preferred stock) an amount equal to the aggregate accumulated
but unpaid distributions (whether or not earned or declared) in respect of such preferred stock, (ii) the Fund’s other liabilities
(excluding dividends and other distributions payable on the Fund’s common stock), (iii) with respect to auction rate preferred
stock, the amount of any indebtedness or obligations of the Fund ranking senior in priority to the preferred share distributions
and (iv) any other current liabilities of the Fund (including amounts due and payable by the Fund pursuant to reverse repurchase
agreements and payables for assets purchased) less (b) the value of the Fund’s assets if such assets are either cash or evidences
of indebtedness which mature prior to or on the date of redemption or repurchase of preferred stock or payment of another liability
and are either U.S. government securities or evidences of indebtedness rated at least “Aaa,” “P-1”, “VMIG-1”
or “MIG-1” by Moody’s or “AAA”, “SP-1+” or “A-1+” by S&P and are held
by the Fund for distributions, the redemption or repurchase of preferred stock or the Fund’s liabilities.

If the Fund does not
cure in a timely manner a failure to maintain a discounted value of its portfolio equal to the Basic Maintenance Amount in accordance
with the requirements of the applicable rating agency or agencies then rating the preferred stock at the request of the Fund, the
Fund may, and in certain circumstances will be required to, mandatorily redeem preferred stock.

The Fund may, but is
not required to, adopt any modifications to the rating agency guidelines that may hereafter be established by Moody’s and
Fitch (or such other rating agency then rating the preferred stock at the request of the Fund). Failure to adopt any such modifications,
however, may result in a change in the relevant rating agency’s ratings or a withdrawal of such ratings altogether. In addition,
any rating agency providing a rating for the preferred stock at the request of the Fund may, at any time, change or withdraw any
such rating. The Board, without further action by stockholders, may amend, alter, add to or repeal any provision of the Articles
Supplementary adopted pursuant to rating agency guidelines if the Board determines that such amendments or modifications are necessary
to prevent a reduction in, or the withdrawal of, a rating of the preferred stock and