Common use of Calculation of Income Distribution Payments and Settlement Payments Clause in Contracts

Calculation of Income Distribution Payments and Settlement Payments. (a) On the last Price Determination Day preceding each Distribution Date, within the time period agreed upon by the Trustee and the Administrative Agent, the Trustee shall calculate the Down-MACRO Income Distribution Payment, if any, that the Down-MACRO Holding Trust is required to make to the Up-MACRO Holding Trust on the related Distribution Payment Date or the Up-MACRO Income Distribution Payment, if any, that the Up-MACRO Holding Trust is required to make to the Down-MACRO Holding Trust on the related Distribution Payment Date pursuant to the Income Distribution Agreement. The Trustee shall perform the calculations described in this Section 4.3(a) (including, without limitation, with respect to an Early Termination Date) by assuming that the Applicable Reference Price of Crude Oil for any Price Determination Day on which such price was not available or on which the Down-MACRO Holding Trust was no longer permitted to use such price was the same as the Applicable Reference Price of Crude Oil on the last preceding Price Determination Day on which such price was available or permitted to be used by the Down-MACRO Holding Trust. (b) The Trustee shall calculate and provide to the Administrative Agent, within the time period agreed upon by the Trustee and the Administrative Agent on the last Price Determination Day preceding the Final Scheduled Termination Date or any Early Termination Date and on each Redemption Date, (i) the Down-MACRO Settlement Payment, if any, required to be made by the Down-MACRO Holding Trust to the Up-MACRO Holding Trust under the Settlement Contracts that are being settled in connection with such Final Scheduled Termination Date, Early Termination Date or Redemption Date or (ii) the Up-MACRO Settlement Payment, if any, required to be made by the Up-MACRO Holding Trust to the Down-MACRO Holding Trust under the Settlement Contracts that are being settled in connection with such Final Scheduled Termination Date, Early Termination Date or Redemption Date. The Trustee shall perform the calculations described in this Section 4.3(b) (including, without limitation, with respect to an Early Termination Date) by assuming that the Applicable Reference Price of Crude Oil for any Price Determination Day on which such price was not available or on which the Down-MACRO Holding Trust was no longer permitted to use such price was the same as the Applicable Reference Price of Crude Oil on the last preceding Price Determination Day on which such price was available or permitted to be used by the Down-MACRO Holding Trust. (c) The Trustee shall confirm the Administrative Agent's determination of the Redemption Cash Component, if any, that must be delivered by the redeeming Authorized Participants in connection with a Paired Optional Redemption not later than the Redemption Order Date for such Paired Optional Redemption.

Calculation of Income Distribution Payments and Settlement Payments. (a) On the last Price Determination Day preceding each Distribution Date, within the time period agreed upon by the Trustee and the Administrative Agent, the Trustee shall calculate the Up-MACRO Income Distribution Payment, if any, that the Up-MACRO Holding Trust is required to make to the Down-MACRO Holding Trust on the related Distribution Payment Date or the Down-MACRO Income Distribution Payment, if any, that the Down-MACRO Holding Trust is required to make to the Up-MACRO Holding Trust on the related Distribution Payment Date or the Up-MACRO Income Distribution Payment, if any, that the Up-MACRO Holding Trust is required to make to the Down-MACRO Holding Trust on the related Distribution Payment Date pursuant to the Income Distribution Agreement. The Trustee shall perform the calculations described in this Section 4.3(a) (including, without limitation, with respect to an Early Termination Date) by assuming that the Applicable Reference Price of Crude Oil for any Price Determination Day on which such price was not available or on which the DownUp-MACRO Holding Trust was no longer permitted to use such price was the same as the Applicable Reference Price of Crude Oil on the last preceding Price Determination Day on which such price was available or permitted to be used by the DownUp-MACRO Holding Trust. (b) The Trustee shall calculate and provide to the Administrative Agent, within the time period agreed upon by the Trustee and the Administrative Agent on the last Price Determination Day preceding the Final Scheduled Termination Date or any Early Termination Date and on each Redemption Date, (i) the DownUp-MACRO Settlement Payment, if any, required to be made by the DownUp-MACRO Holding Trust to the UpDown-MACRO Holding Trust under the Settlement Contracts that are being settled in connection with such Final Scheduled Termination Date, Early Termination Date or Redemption Date or (ii) the UpDown-MACRO Settlement Payment, if any, required to be made by the UpDown-MACRO Holding Trust to the DownUp-MACRO Holding Trust under the Settlement Contracts that are being settled in connection with such Final Scheduled Termination Date, Early Termination Date or Redemption Date. The Trustee shall perform the calculations described in this Section 4.3(b) (including, without limitation, with respect to an Early Termination Date) by assuming that the Applicable Reference Price of Crude Oil for any Price Determination Day on which such price was not available or on which the DownUp-MACRO Holding Trust was no longer permitted to use such price was the same as the Applicable Reference Price of Crude Oil on the last preceding Price Determination Day on which such price was available or permitted to be used by the DownUp-MACRO Holding Trust. (c) The Trustee shall confirm the Administrative Agent's determination of the Redemption Cash Component, if any, that must be delivered by the redeeming Authorized Participants in connection with a Paired Optional Redemption not later than the Redemption Order Date for such Paired Optional Redemption.

Calculation of Income Distribution Payments and Settlement Payments. (a) On the last Price Determination Day preceding each Distribution Date, within the time period agreed upon by the Trustee and the Administrative Agent, the Trustee shall calculate the Down-MACRO Up Income Distribution Payment, if any, that the Down-MACRO Holding Up Trust is required to make to the Up-MACRO Holding Down Trust on the related Distribution Payment Date or the Up-MACRO Down Income Distribution Payment, if any, that the Up-MACRO Holding Down Trust is required to make to the Down-MACRO Holding Up Trust on the related Distribution Payment Date pursuant to the Income Distribution Agreement. The Trustee shall perform the calculations described in this Section 4.3(a) (including, without limitation, with respect to an Early Termination Date) by assuming that the Applicable Reference Price of Crude Oil for any Price Determination Day on which such price was not available or on which the Down-MACRO Holding Up Trust was no longer permitted to use such price was the same as the Applicable Reference Price of Crude Oil on the last preceding Price Determination Day on which such price was available or permitted to be used by the Down-MACRO Holding Up Trust. (b) The Trustee shall calculate and provide to the Administrative Agent, within the time period agreed upon by the Trustee and the Administrative Agent on the last Price Determination Day preceding the Final Scheduled Termination Date or any Early Termination Date and on the Redemption Order Date preceding each Redemption Date, (i) the Down-MACRO Up Settlement Payment, if any, required to be made by the Down-MACRO Holding Up Trust to the Up-MACRO Holding Down Trust under the Settlement Contracts that are being settled in connection with such Final Scheduled Termination Date, Early Termination Date or Redemption Date or (ii) the Up-MACRO Down Settlement Payment, if any, required to be made by the Up-MACRO Holding Down Trust to the Down-MACRO Holding Up Trust under the Settlement Contracts that are being settled in connection with such Final Scheduled Termination Date, Early Termination Date or Redemption Date. The Trustee shall perform the calculations described in this Section 4.3(b) (including, without limitation, with respect to an Early Termination Date) by assuming that the Applicable Reference Price of Crude Oil for any Price Determination Day on which such price was not available or on which the Down-MACRO Holding Up Trust was no longer permitted to use such price was the same as the Applicable Reference Price of Crude Oil on the last preceding Price Determination Day on which such price was available or permitted to be used by the Down-MACRO Holding Up Trust. (c) The Trustee shall confirm the Administrative Agent's determination of the Redemption Cash Component, if any, that must be delivered by the redeeming Authorized Participants in connection with a Paired Optional Redemption not later than the Redemption Order Date for such Paired Optional Redemption. (d) The Trustee shall perform the calculations specified in Section 5.2(d) if such calculations are required to be performed in accordance with the terms of Section 5.2.

Calculation of Income Distribution Payments and Settlement Payments. (a) On the last Price Determination Day preceding Prior to each Distribution Date, within the time period agreed upon by the Trustee and the Administrative Agent, the Trustee shall calculate the Up-MACRO Income Distribution Payment, if any, that the Up-MACRO Holding Trust is required to make to the Down-MACRO Holding Trust on such Distribution Date or the Down-MACRO Income Distribution Payment, if any, that the Down-MACRO Holding Trust is required to make to the Up-MACRO Holding Trust on the related such Distribution Payment Date or the Up-MACRO Income Distribution Payment, if any, that the Up-MACRO Holding Trust is required to make to the Down-MACRO Holding Trust on the related Distribution Payment Date pursuant to the Income Distribution Agreement. The Trustee shall perform . (b) On the calculations described in this Section 4.3(a) (includingBusiness Day preceding the Final Scheduled Termination Date, without limitation, with respect to an any Early Termination Date) by Date and the New York Business Day on which a Paired Optional Redemption settles, assuming that the Applicable Reference Price of Crude Oil for any has been established by the NYMEX or the applicable Substitute Oil Price Provider on the last Price Determination Day on which preceding such price was not available Final Scheduled Termination Date or Early Termination Date or on which the Down-MACRO Holding Trust was no longer permitted to use such price was applicable Redemption Date, the same as the Applicable Reference Price of Crude Oil on the last preceding Price Determination Day on which such price was available or permitted to be used by the Down-MACRO Holding Trust. (b) The Trustee shall calculate and provide to the Administrative AgentAgent (i) the Up-MACRO Settlement Payment, within the time period agreed upon if any, required to be made by the Trustee and Up-MACRO Holding Trust to the Administrative Agent on Down-MACRO Holding Trust under the last Price Determination Day preceding the Settlement Contracts that are being settled in connection with such Final Scheduled Termination Date or any Date, Early Termination Date or Redemption Date and on each Redemption Date, (iii) the Down-MACRO Settlement Payment, if any, required to be made by the Down-MACRO Holding Trust to the Up-MACRO Holding Trust under the Settlement Contracts that are being settled in connection with such Final Scheduled Termination Date, Early Termination Date or Redemption Date or (ii) the Up-MACRO Settlement Payment, if any, required to be made by the Up-MACRO Holding Trust to the Down-MACRO Holding Trust under the Settlement Contracts that are being settled in connection with such Final Scheduled Termination Date, Early Termination Date or Redemption Date. The Trustee shall perform the calculations described in this Section 4.3(b) (including, without limitation, with respect to an Early Termination Date) by assuming that the Applicable Reference Price of Crude Oil for any Price Determination Day on which such price was not available or on which the Down-MACRO Holding Trust was no longer permitted to use such price was the same as the Applicable Reference Price of Crude Oil on the last preceding Price Determination Day on which such price was available or permitted to be used by the Down-MACRO Holding Trust. (c) The Trustee shall confirm the Administrative Agent's determination of the Redemption Cash Component, if any, that must be delivered by the redeeming Authorized Participants in connection with a Paired Optional Redemption not later than the Redemption Order Date for such Paired Optional Redemption.

Calculation of Income Distribution Payments and Settlement Payments. (a) On the last Price Determination Day preceding Prior to each Distribution Date, within the time period agreed upon by the Trustee and the Administrative Agent, the Trustee shall calculate the Down-MACRO Income Distribution Payment, if any, that the Down-MACRO Holding Trust is required to make to the Up-MACRO Holding Trust on the related such Distribution Payment Date or the Up-MACRO Income Distribution Payment, if any, that the Up-MACRO Holding Trust is required to make to the Down-MACRO Holding Trust on the related such Distribution Payment Date pursuant to the Income Distribution Agreement. The Trustee shall perform . (b) On the calculations described in this Section 4.3(a) (includingBusiness Day preceding the Final Scheduled Termination Date, without limitation, with respect to an any Early Termination Date) by Date and the New York Business Day on which a Paired Optional Redemption settles, assuming that the Applicable Reference Price of Crude Oil for any has been established by the NYMEX or the applicable Substitute Oil Price Provider on the last Price Determination Day on which preceding such price was not available Final Scheduled Termination Date or Early Termination Date or on which the Down-MACRO Holding Trust was no longer permitted to use such price was applicable Redemption Date, the same as the Applicable Reference Price of Crude Oil on the last preceding Price Determination Day on which such price was available or permitted to be used by the Down-MACRO Holding Trust. (b) The Trustee shall calculate and provide to the Administrative Agent, within the time period agreed upon by the Trustee and the Administrative Agent on the last Price Determination Day preceding the Final Scheduled Termination Date or any Early Termination Date and on each Redemption Date, (i) the Down-MACRO Settlement Payment, if any, required to be made by the Down-MACRO Holding Trust to the Up-MACRO Holding Trust under the Settlement Contracts that are being settled in connection with such Final Scheduled Termination Date, Early Termination Date or Redemption Date or and (ii) the Up-MACRO Settlement Payment, if any, required to be made by the Up-MACRO Holding Trust to the Down-MACRO Holding Trust under the Settlement Contracts that are being settled in connection with such Final Scheduled Termination Date, Early Termination Date or Redemption Date. The Trustee shall perform the calculations described in this Section 4.3(b) (including, without limitation, with respect to an Early Termination Date) by assuming that the Applicable Reference Price of Crude Oil for any Price Determination Day on which such price was not available or on which the Down-MACRO Holding Trust was no longer permitted to use such price was the same as the Applicable Reference Price of Crude Oil on the last preceding Price Determination Day on which such price was available or permitted to be used by the Down-MACRO Holding Trust. (c) The Trustee shall confirm the Administrative Agent's determination of the Redemption Cash Component, if any, that must be delivered by the redeeming Authorized Participants in connection with a Paired Optional Redemption not later than the Redemption Order Date for such Paired Optional Redemption.

Calculation of Income Distribution Payments and Settlement Payments. (a) On Within four (4) hours of the time when the Applicable Reference Price Provider has published the Applicable Reference Price of Crude Oil on its website or by means of another applicable medium (i) on the last Price Determination Day preceding each Distribution Date, within the time period agreed upon by the Trustee and the Administrative Agent, the Trustee shall calculate the Up-MACRO Income Distribution Payment, if any, that the Up-MACRO Holding Trust is required to make to the Down-MACRO Holding Trust on the related Distribution Payment Date or the Down-MACRO Income Distribution Payment, if any, that the Down-MACRO Holding Trust is required to make to the Up-MACRO Holding Trust on the related Distribution Payment Date or the Up-MACRO Income Distribution Payment, if any, that the Up-MACRO Holding Trust is required to make to the Down-MACRO Holding Trust on the related Distribution Payment Date pursuant to the Income Distribution Agreement. The Trustee shall perform the calculations described in this Section 4.3(a) (including, without limitation, with respect to an Early Termination Date) by assuming that the Applicable Reference Price of Crude Oil for any Price Determination Day on which such price was not available or on which the DownUp-MACRO Holding Trust was no longer permitted to use such price was the same as the Applicable Reference Price of Crude Oil on the last preceding Price Determination Day on which such price was available or permitted to be used by the DownUp-MACRO Holding Trust. (b) The Trustee shall calculate and provide to the Administrative Agent, within Within four (4) hours of the time period agreed upon when the Applicable Reference Price Provider has published the Applicable Reference Price of Crude Oil on its website or by the Trustee and the Administrative Agent means of another applicable medium (i) on the last Price Determination Day preceding the Final Scheduled Termination Date or any Early Termination Date or (ii) on the Price Determination Day on which a Paired Optional Redemption settles, the Trustee shall calculate and on each Redemption Date, provide to the Administrative Agent (i) the DownUp-MACRO Settlement Payment, if any, required to be made by the DownUp-MACRO Holding Trust to the UpDown-MACRO Holding Trust under the Settlement Contracts that are being settled in connection with such Final Scheduled Termination Date, Early Termination Date or Redemption Date or (ii) the UpDown-MACRO Settlement Payment, if any, required to be made by the UpDown-MACRO Holding Trust to the DownUp-MACRO Holding Trust under the Settlement Contracts that are being settled in connection with such Final Scheduled Termination Date, Early Termination Date or Redemption Date. The Trustee shall perform the calculations described in this Section 4.3(b) (including, without limitation, with respect to an Early Termination Date) by assuming that the Applicable Reference Price of Crude Oil for any Price Determination Day on which such price was not available or on which the DownUp-MACRO Holding Trust was no longer permitted to use such price was the same as the Applicable Reference Price of Crude Oil on the last preceding Price Determination Day on which such price was available or permitted to be used by the DownUp-MACRO Holding Trust. (c) The Trustee shall confirm the Administrative Agent's determination of the Redemption Cash Component, if any, that must be delivered by the redeeming Authorized Participants in connection with a Paired Optional Redemption not later than the Redemption Order Date for such Paired Optional Redemption.

Calculation of Income Distribution Payments and Settlement Payments. (a) On the last Price Determination Business Day preceding each Distribution Date, within the time period agreed upon by the Trustee and the Administrative Agent, the Trustee shall calculate the Down-MACRO Up Income Distribution Payment, if any, that the Down-MACRO Holding Up Trust is required to make to the Up-MACRO Holding Down Trust on the related Distribution Payment Date or the Up-MACRO Down Income Distribution Payment, if any, that the Up-MACRO Holding Down Trust is required to make to the Down-MACRO Holding Up Trust on the related Distribution Payment Date pursuant to the Income Distribution Agreement. The Trustee shall perform the calculations described in this Section 4.3(a) (including, without limitation, with respect to an Early Termination Date) by assuming that the Applicable Reference Price Value of Crude Oil Medical Inflation for any Price Determination Day calendar day on which such price was not available or on which the Down-MACRO Holding Trust was no longer permitted to use such price was the same as the Applicable Reference Price Value of Crude Oil Medical Inflation on the last preceding Price Determination Day day on which such price was available or permitted to be used by the Down-MACRO Holding Up Trust. (b) The Trustee shall calculate and provide to the Administrative Agent, within the time period agreed upon by the Trustee and the Administrative Agent on the last Price Determination Business Day preceding the Final Scheduled Termination Date or any Early Termination Date and on each Redemption Date, (i) the Down-MACRO Up Settlement Payment, if any, required to be made by the Down-MACRO Holding Up Trust to the Up-MACRO Holding Down Trust under the Settlement Contracts that are being settled in connection with such Final Scheduled Termination Date, Early Termination Date or Redemption Date or (ii) the Up-MACRO Down Settlement Payment, if any, required to be made by the Up-MACRO Holding Down Trust to the Down-MACRO Holding Up Trust under the Settlement Contracts that are being settled in connection with such Final Scheduled Termination Date, Early Termination Date or Redemption Date. The Trustee shall perform the calculations described in this Section 4.3(b) (including, without limitation, with respect to an Early Termination Date) by assuming that the Applicable Reference Price Value of Crude Oil Medical Inflation for any Price Determination Index Calculation Day on which such price was not available or on which the Down-MACRO Holding Trust was no longer permitted to use such price was the same as the Applicable Reference Price Value of Crude Oil Medical Inflation on the last preceding Price Determination Index Calculation Day on which such price was available or permitted to be used by the Down-MACRO Holding Up Trust. (c) The Trustee shall confirm the Administrative Agent's determination of the Redemption Cash Component, if any, that must be delivered by the redeeming Authorized Participants in connection with a Paired Optional Redemption not later than the Redemption Order Date for such Paired Optional Redemption.

Calculation of Income Distribution Payments and Settlement Payments. (a) On the last Price Determination Day preceding each Distribution Date, within the time period agreed upon by the Trustee and the Administrative Agent, the Trustee shall calculate the Down-MACRO Down Income Distribution Payment, if any, that the Down-MACRO Holding Down Trust is required to make to the Up-MACRO Holding Up Trust on the related Distribution Payment Date or the Up-MACRO Up Income Distribution Payment, if any, that the Up-MACRO Holding Up Trust is required to make to the Down-MACRO Holding Down Trust on the related Distribution Payment Date pursuant to the Income Distribution Agreement. The Trustee shall perform the calculations described in this Section 4.3(a) (including, without limitation, with respect to an Early Termination Date) by assuming that the Applicable Reference Price of Crude Oil for any Price Determination Day on which such price was not available or on which the Down-MACRO Holding Down Trust was no longer permitted to use such price was the same as the Applicable Reference Price of Crude Oil on the last preceding Price Determination Day on which such price was available or permitted to be used by the Down-MACRO Holding Down Trust. (b) The Trustee shall calculate and provide to the Administrative Agent, within the time period agreed upon by the Trustee and the Administrative Agent on the last Price Determination Day preceding the Final Scheduled Termination Date or any Early Termination Date and on the Redemption Order Date preceding each Redemption Date, (i) the Down-MACRO Down Settlement Payment, if any, required to be made by the Down-MACRO Holding Down Trust to the Up-MACRO Holding Up Trust under the Settlement Contracts that are being settled in connection with such Final Scheduled Termination Date, Early Termination Date or Redemption Date or (ii) the Up-MACRO Up Settlement Payment, if any, required to be made by the Up-MACRO Holding Up Trust to the Down-MACRO Holding Down Trust under the Settlement Contracts that are being settled in connection with such Final Scheduled Termination Date, Early Termination Date or Redemption Date. The Trustee shall perform the calculations described in this Section 4.3(b) (including, without limitation, with respect to an Early Termination Date) by assuming that the Applicable Reference Price of Crude Oil for any Price Determination Day on which such price was not available or on which the Down-MACRO Holding Down Trust was no longer permitted to use such price was the same as the Applicable Reference Price of Crude Oil on the last preceding Price Determination Day on which such price was available or permitted to be used by the Down-MACRO Holding Down Trust. (c) The Trustee shall confirm the Administrative Agent's determination of the Redemption Cash Component, if any, that must be delivered by the redeeming Authorized Participants in connection with a Paired Optional Redemption not later than the Redemption Order Date for such Paired Optional Redemption. (d) The Trustee shall perform the calculations specified in Section 5.2(d) if such calculations are required to be performed in accordance with the terms of Section 5.2.