Company: NMZ
Filing Date: 2025-11-18
Form Type: N-14 8C/A
Source: 0001999371-25-018025
Chunk: 270

Company: NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND
Filing Date: 2025-11-18
Form: N-14 8C/A
Chunk 270
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 from incurring        
 borrowings if, immediately thereafter, the aggregate amount of its borrowings exceeds        
 33 1/3% of its total assets. The Funds have obtained exemptive relief to make loans pursuant 
 to the inter-fund lending facility.                                                          |

| (4) | For                                                                                        
 purposes of this restriction, governments and their political subdivisions are not members 
 of any industry.                                                                           |

| (5) | Section                                                                                   
 21 of the 1940 Act makes it unlawful for a registered investment company, like the Funds, 
 to lend money or other property if (i) the investment company’s policies set forth        
 in its registration statement do not permit such a loan or (ii) the borrower controls     
 or is under common control with the investment company. The Funds have obtained exemptive 
 relief to make loans pursuant to the inter-fund lending facility.                         |

For the purpose of applying the limitation set forth in subparagraph (8) above for the each Fund, an issuer shall be deemed the sole issuer of a security when its assets and revenues are separate from other governmental entities and its securities are backed only by its assets and revenues. Similarly, in the case of a non-governmental issuer, such as an industrial corporation or a privately owned or operated hospital, if the security is backed only by the assets and revenues of the non-governmental issuer, then such non-governmental issuer would be deemed to be the sole issuer. Where a security is also backed by the enforceable obligation of a superior or unrelated governmental or other entity (other than a bond insurer), it shall also be included in the computation of securities owned that are issued by such governmental or other entity. Where a security is guaranteed by a governmental entity or some other facility, such as a bank guarantee or letter of credit, such a guarantee or letter of credit would be considered a separate security and would be treated as an issue of such government, other entity or bank. When a municipal security is insured by bond insurance, it shall not be considered a security that is issued or guaranteed by the insurer; instead, the issuer of such municipal security will be determined in accordance with the principles set forth above. The foregoing restrictions do not limit the percentage of the Fund’s assets that may be invested in municipal securities insured by any given insurer.

Each Fund is diversified for purposes of the 1940 Act. Consequently, as to 75% of each Fund’s total assets, a Fund may not (1) purchase the securities of any one issuer (other than cash, securities