Company: MYI
Filing Date: 2025-09-02
Form Type: N-14 8C/A
Source: 0001193125-25-193985
Chunk: 103

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-02
Form: N-14 8C/A
Chunk 103
---
 of a 1940 Act Majority of MIY VRDP Shares voting as a separate
class and (iii) with respect to Proposal 1(H), the affirmative vote of the holders of a 1940 Act Majority of Acquiring Fund VRDP Shares voting as a separate class

Shareholder approval of the MVF Reorganization Agreement requires (i) with respect to Proposal 1(E), the affirmative vote of a the
holders of a majority of the outstanding MVF common shares and MVF VMTP Shares voting as a single class, (ii) with respect to Proposal 1(F), the affirmative vote of the holders of a 1940 Act Majority of MVF VMTP Shares voting as a separate
class and (iii) with respect to Proposal 1(I), the affirmative vote of the holders of a 1940 Act Majority of Acquiring Fund VRDP Shares voting as a separate class

Each Issuance contemplated by Proposal 2(A), Proposal 2(B) and Proposal 2(C) requires the affirmative vote of the holders of a majority of the
Acquiring Fund common shares and Acquiring Fund VRDP Shares entitled to be cast voting as a single class.

A “1940 Act
Majority” means the affirmative vote of either (i) 67% or more of the voting securities present at the Special Meeting, if the holders of more than 50% of the outstanding voting securities of the Fund are present or represented by proxy or
(ii) more than 50% of the outstanding voting securities of the Fund, whichever is less.

In order for each Reorganization to occur,
each Fund must obtain all requisite shareholder approvals with respect to its Reorganization, as well as certain consents, confirmations and/or waivers from various third parties, including the liquidity providers with respect to the outstanding
Acquiring Fund and MIY VRDP Shares. Because the closing of each Reorganization with respect to MVT, MIY and MVF is contingent upon such Fund and the Acquiring Fund obtaining the requisite shareholder approvals and third-party consents and satisfying
(or obtaining the waiver of) other closing conditions for such Reorganization, it is possible that a Reorganization will not occur, even if shareholders of a Fund entitled to vote on such Reorganization approve the Reorganization and such Fund
satisfies all of its closing conditions, if the other Fund in the Reorganization does not obtain its requisite shareholder approvals or satisfy its closing conditions.

45

Each Reorganization is not contingent upon the approval of any other Reorganization