Common use of Actions or Notices by Holders of the Down MacroShares Clause in Contracts

Actions or Notices by Holders of the Down MacroShares. (a) Wherever a provision in this Trust Agreement states that an action may be taken or a Notice given by Holders of the Down MacroShares, such action or Notice may be taken or given by any Holder, unless such provision requires a specific percentage of Holders of the Down MacroShares. (b) Any Notice, request, authorization, direction, consent, waiver or other act by the Holder of a Down MacroShare shall bind such Holder and every subsequent Holder of such share and of any share issued upon the registration of transfer thereof, in exchange therefor or in lieu thereof in respect of anything done or omitted to be done by the Trustee in reliance thereon, whether or not notation of such action is made upon such share.