Common use of Calculations on Each Business Day Clause in Contracts

Calculations on Each Business Day. (a) With respect to each calendar day, the Trustee shall calculate the following data and shall provide it to the Administrative Agent, on the last Business Day that preceded such calendar day at such time on such Business Day as has been mutually agreed upon by the Trustee and the Administrative Agent: (i) the sum of the Down Earned Income Accruals for each day that has elapsed during the current Calculation Period; (ii) the Down Investment Amount for that day; and (iii) the estimated Down Available Income Accrual for that calendar day and for any intervening non-Business Days between the Business Day on which such amounts are provided to the Administrative Agent and the next succeeding Business Day. (b) At the close of each Business Day, the Trustee shall calculate and provide to the Administrative Agent for posting on the MacroShares Website, the Per Share Underlying Value of one Down MacroShare on that Business Day or, if that Business Day is followed by one or more intervening non-business days, for the last calendar day preceding the next Business Day, based in each case upon (i) the Reference Value of the Index for such Business Day or such last calendar day, as applicable, and (ii) the calculations of the Up Trustee pursuant to Section 8.1 of the Up Trust Agreement. For purposes of calculating the foregoing amounts on any Business Day, any Paired Optional Redemptions or Paired Issuances scheduled to settle on such Business Day shall be taken into account. (c) The Trustee's calculations, pursuant to clauses (a) and (b) of this Section 4.1 shall be conclusive and binding upon the Holders of the Down MacroShares, the Holders of the Up MacroShares and all other Persons, absent manifest error.

Calculations on Each Business Day. (a) With respect to each calendar day, the Trustee shall calculate the following data and shall provide it to the Administrative Agent, on the last Business Day that preceded such calendar day at such time on such Business Day as has been mutually agreed upon by the Trustee and the Administrative Agent: (i) the sum of the Down Up Earned Income Accruals for each day that has elapsed during the current Calculation Period; (ii) the Down Up Investment Amount for that day; and (iii) the estimated Down Up Available Income Accrual for that calendar day and for any intervening non-Business Days between the Business Day on which such amounts are provided to the Administrative Agent and the next succeeding Business Day. (b) At the close of each Business Day, the Trustee shall calculate and provide to the Administrative Agent for posting on the MacroShares Website, the Per Share Underlying Value of one Down Up MacroShare on that Business Day or, if that Business Day is followed by one or more intervening non-business days, for the last calendar day preceding the next Business Day, based in each case upon (i) the Reference Value of the Index for such Business Day or such last calendar day, as applicable, and (ii) the calculations of the Up Down Trustee pursuant to Section 8.1 of the Up Down Trust Agreement. For purposes of calculating the foregoing amounts on any Business Day, any Paired Optional Redemptions or Paired Issuances scheduled to settle on such Business Day shall be taken into account. (c) The Trustee's calculations, pursuant to clauses (a) and (b) of this Section 4.1 shall be conclusive and binding upon the Holders of the Down Up MacroShares, the Holders of the Up Down MacroShares and all other Persons, absent manifest error.