Company: MYI
Filing Date: 2025-08-08
Form Type: PRE 14A
Source: 0001193125-25-176952
Chunk: 72

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-08-08
Form: PRE 14A
Chunk 72
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iquidity Facility”). The Acquiring Fund and MIY each entered into fee agreements with the liquidity provider (each, a “Fee Agreement”) in connection with the applicable Liquidity Facility that requires a monthly liquidity fee payable to the liquidity provider. The Fee Agreements between each of the Acquiring Fund and MIY and the liquidity provider are scheduled to expire, unless renewed or terminated in advance, on July 5, 2026. Each Liquidity Facility requires the liquidity provider to purchase all VRDP Shares tendered for sale that were not successfully remarketed. The applicable Fund is required to redeem its VRDP Shares owned by the liquidity provider after six months of continuous, unsuccessful remarketing. Upon the occurrence of the first unsuccessful remarketing, the Fund is required to segregate liquid assets to fund the redemption. In the event the VRDP Shares Purchase Agreement (the “Purchase Agreement”) for the Acquiring Fund or MIY is not renewed, and the applicable Fund does not arrange for a Purchase Agreement with an alternate liquidity provider, the Fund’s VRDP Shares will be subject to mandatory purchase by the liquidity provider prior to the termination of the Purchase Agreement. There is no assurance the applicable Fund will replace such redeemed VRDP Shares with any other preferred shares or other form of leverage. Except during a special rate period, VRDP Holders have the right to give notice on any business day to tender the Acquiring Fund’s or MIY’s VRDP Shares for remarketing in seven days, the VRDP Shares are subject to a mandatory tender for remarketing upon the occurrence of certain events, and should a remarketing be unsuccessful, the dividend rate for such VRDP Shares will reset to a maximum rate as defined in the governing documents of the VRDP Shares. The VRDP Shares are also subject to certain restrictions on transfer outside of the remarketing process. Except during a special rate period, the applicable Fund may incur remarketing fees at the annual rate set forth below:

| Fund       |     | Remarketing Agent       |     | Remarketing Agent Fee |
| MIY        |     | TD Securities (USA) LLC |     | [●]                   |
| Acquiring  
 Fund (MYI) |     | TD Securities (USA) LLC |     | [●]                   |

The Acquiring Fund and MIY are required to redeem their VRDP Shares on June 1, 2041 and May 1, 2041, respectively, the mandatory redemption date for such VRDP Shares, unless earlier redeemed or repurchased. Six months