Common use of Amendment; Waiver of Past Defaults and Termination Clause in Contracts

Amendment; Waiver of Past Defaults and Termination. (a) This Trust Agreement shall not in any circumstances be amended (i) to modify the definition of "Down-MACRO Underlying Value," "Up-MACRO Underlying Value," "Down-MACRO Income Distribution Payment," "Up-MACRO Income Distribution Payment," "Down-MACRO Settlement Payment," "Up-MACRO Settlement Payment" or any constituent defined terms that are a part of the foregoing defined terms; or (ii) to modify the number of Paired Holding Shares that constitute a MACRO Unit. In addition, no amendments shall be voted upon or declared effective and no consents with respect to any matter under this Trust Agreement shall be sought during any period when less than a Majority of the Outstanding Down-MACRO Holding Shares are held by the Down-MACRO Tradeable Trust.

Amendment; Waiver of Past Defaults and Termination. (a) This Trust Agreement shall not in any circumstances be amended (i) to modify the definition of "Up-MACRO Underlying Value," "Down-MACRO Underlying Value," "Up-MACRO Underlying ValueIncome Distribution Payment," "Down-MACRO Income Distribution Payment," "Up-MACRO Income Distribution Settlement Payment," "Down-MACRO Settlement Payment," "Up-MACRO Settlement Payment" or any constituent defined terms that are a part of the foregoing defined terms; or (ii) to modify the number of Paired Holding Shares that constitute a MACRO Unit. In addition, no amendments shall be voted upon or declared effective and no consents with respect to any matter under this Trust Agreement shall be sought during any period when less than a Majority of the Outstanding DownUp-MACRO Holding Shares are held by the DownUp-MACRO Tradeable Trust.