Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 325

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 325
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 conducting any audit or other proceeding in respect of taxes. The Acquiring Fund agrees to retain for a period of ten (10) years following the Closing Date all returns, schedules and work papers and all material records or other documents relating to tax matters of the Target Fund for each of such Fund’s taxable periods ending on or before the Closing Date. (v) The Acquiring Fund VRDP Shares to be transferred to the Target Fund for distribution to the Target Fund [VRDP] 24[VMTP] 25Holders on the Closing Date shall only be distributed to the Target Fund [VRDP] 26[VMTP] 27Holders in accordance with an available exemption from registration under the 1933 Act, in a manner not involving any public offering within the meaning of Section 4(a)(2) of the 1933 Act. (vi) Each Fund shall use reasonable efforts to obtain all requisite consents and approvals necessary to consummate the Reorganization. (b) COVENANTS OF THE ACQUIRING FUND. (i) The Acquiring Fund will file the N-14Registration Statement and the Preferred Shares Proxy Statement with the SEC and will use its best efforts to provide that the N-14Registration Statement becomes effective as promptly as practicable. Each Fund agrees to cooperate fully with the other, and each will furnish to the other the information relating to itself to be set forth in the N-14Registration Statement and the Preferred Shares Proxy Statement as required by the 1933 Act, the 1934 Act and the 1940 Act, and the rules and regulations thereunder and the state securities laws.

| 24 | [Applies to MIY.] |

| 25 | [Applies to MVF and MVT.] |

| 26 | [Applies to MIY.] |

| 27 | [Applies to MVF and MVT.] |

A-12

(ii) The Acquiring Fund has no plan or intention to sell or otherwise dispose of the Target Fund Investments, except for dispositions made in the ordinary course of business. (iii) Following the consummation of the Reorganization, the Acquiring Fund will continue its business as a diversified, closed-endmanagement investment company registered under the 1940 Act. (iv) The Acquiring Fund shall use reasonable efforts to cause the Acquiring Fund Common Shares to be issued in the Reorganization to be approved for listing on the New York Stock Exchange prior to the Closing Date. (v) The Acquiring Fund