Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 232

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 232
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 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 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.

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To the extent that MVF engages in securities lending, MVF retains a portion of securities
lending income and remits a remaining portion to BIM as compensation for its services as securities lending agent. Securities lending income is equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral
investment expenses as defined below), and any fees or other payments to