Common use of Deemed Security Holders Clause in Contracts

Deemed Security Holders. The Trustee may treat the Person in whose name any Certificate shall be registered on the books and records of the Trust as the sole Holder of such Certificate and of the Up-MACRO Tradeable Shares represented by such Certificate for purposes of receiving Distributions and for all other purposes whatsoever (other than Section 9.3(b) hereof) and, accordingly, shall not be bound to recognize any equitable or other claim to or interest in such Certificate or in the Up-MACRO Tradeable Shares represented by such Certificate on the part of any Person, whether or not the Trust shall have actual or other notice thereof.

Deemed Security Holders. The Trustee may treat the Person in whose name any Certificate shall be registered on the books and records of the Trust as the sole Holder of such Certificate and of the UpDown-MACRO Tradeable Shares represented by such Certificate for purposes of receiving Distributions and for all other purposes whatsoever (other than Section 9.3(b) hereof) and, accordingly, shall not be bound to recognize any equitable or other claim to or interest in such Certificate or in the UpDown-MACRO Tradeable Shares represented by such Certificate on the part of any Person, whether or not the Trust shall have actual or other notice thereof.