Company: MYI
Filing Date: 2025-09-02
Form Type: N-14 8C/A
Source: 0001193125-25-193985
Chunk: 227

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-02
Form: N-14 8C/A
Chunk 227
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 at the time the transaction is entered into and at all times subsequent during the term of the repurchase
agreement in an effort to determine that such value always equals or exceeds the agreed-upon repurchase price. In the event the value of the collateral declines below the repurchase price, the Investment Advisor will demand additional collateral
from the issuer to increase the value of the collateral to at least that of the repurchase price, including interest.

Securities Lending.MVF may lend portfolio securities to certain borrowers determined to be creditworthy by the Investment Advisor, including to borrowers affiliated with the Investment Advisor. The borrowers provide collateral that is maintained in an
amount at least equal to the current market value of the securities loaned. No securities loan will be made on behalf of MVF if, as a result, the aggregate value of all securities loans of MVF exceeds
one-third of the value of MVF’s total assets (including the value of the collateral received). MVF may terminate a loan at

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any time and obtain the return of the securities loaned. MVF receives the value of any interest or cash or non- cash distributions paid on the loaned securities.

With respect to loans that are collateralized by cash, the borrower may be entitled to receive a fee based on the amount of cash collateral.
MVF is compensated by the difference between the amount earned on the reinvestment of cash collateral and the fee paid to the borrower. In the case of collateral other than cash, MVF is compensated by a fee paid by the borrower equal to a percentage
of the market value of the loaned securities. Any cash collateral received by MVF for such loans, and uninvested cash, may be invested, among other things, in a private investment company managed by an affiliate of the Investment Advisor or in
registered money market funds advised by the Investment Advisor or their affiliates; such investments are subject to investment risk.

MVF
conducts its securities lending pursuant to an exemptive order from the SEC permitting it to lend portfolio securities to borrowers affiliated with MVF and to retain an affiliate of MVF as lending agent. To the extent that MVF engages in securities
lending, BlackRock Investment Management, LLC (“BIM”), an affiliate of the Investment Advisor, acts as securities lending agent for MVF, subject to the overall supervision of the Investment Advisor. BIM administers the lending program in
accordance with guidelines approved by the Board.

To the extent that MVF engages in securities lending, MVF