Company: MYI
Filing Date: 2025-08-08
Form Type: PRE 14A
Source: 0001193125-25-176952
Chunk: 250

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-08-08
Form: PRE 14A
Chunk 250
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 commission. For      
 the Acquiring Fund and MVT, participants that request a sale of shares are subject to a $2.50 sales fee and a $0.15 per share sold brokerage commission fee. See “Automatic Dividend Reinvestment Plan” for additional information.]             |

| (3) | Each of MVT, MIY, MVF and the Acquiring Fund currently pays the Investment Advisor a monthly fee at an                                                                                                                                                    
 annual contractual investment management fee rate of 0.50% of its average weekly managed assets. For purposes of calculating these fees, “managed assets” are determined as total assets of the Fund (including any assets attributable to                
 money borrowed for investment purposes) less the sum of its accrued liabilities (other than money borrowed for investment purposes). It is understood that the liquidation preference of any outstanding preferred shares (other than accumulated         
 dividends) and TOB Trusts is not considered a liability in determining the relevant Fund’s NAV. If the Reorganizations are consummated, the annual contractual investment management fee rate of the Acquiring Fund will be the annual contractual        
 investment management fee rate of the Combined Fund, which will be 0.50% of the average daily net assets of the Combined Fund. The Combined Fund will have the same annual contractual investment management fee rate as MIY, MVF and the Acquiring Fund. |

| (4) | Each Fund and the Investment Advisor have entered into the Fee Waiver Agreement, pursuant to which the                                                                                                                                                    
 Investment Advisor has contractually agreed to waive the management fee with respect to any portion of each Fund’s assets attributable to investments in any equity and fixed-income mutual funds and exchange-traded funds managed by the                
 Investment Advisor or its affiliates and other exchange-traded products sponsored by the Investment Advisor or its affiliates, in each case that have a contractual fee, through June 30, 2027. In addition, pursuant to the Fee Waiver Agreement,        
 the Investment Advisor has contractually agreed to waive its management fees by the amount of investment advisory fees each Fund pays to the Investment Advisor indirectly through its investment in money market funds managed by the Investment Advisor 
 or its affiliates, through June 30, 2027. The Fee Waiver Agreement may be terminated at any time, without the payment of any penalty, only by the Funds (upon the vote of a majority of the Independent Board Members or a majority of the                
 outstanding voting securities of each Fund), upon 90 days’ written notice by each Fund to the Investment Advisor.                                                                                                                                         |

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