Common use of Delegation of Duties by Marketing Agents; Assignment of Fees Clause in Contracts

Delegation of Duties by Marketing Agents; Assignment of Fees. In the ordinary course of business, each Marketing Agent may at any time delegate any duties hereunder to any Person who agrees to conduct such duties in accordance with this Trust Agreement. Any such delegations shall not relieve such Marketing Agent of its liability and responsibility with respect to such duties and shall not constitute a resignation, and such Marketing Agent will remain jointly and severally liable with such Person for any amounts which would otherwise be payable pursuant to this Article 10 as if such Marketing Agent had performed such duty; provided, however, that in the case of any significant delegation to a Person other than an Affiliate of such Marketing Agent, (1) at least thirty (30) days' prior written notice shall be given to the Trustee and the Depositor of such delegation to any entity that is not an Affiliate of such Marketing Agent and (2) the prior written consent of the Depositor must be obtained. Furthermore, any delegation of duties by either Marketing Agent with respect to the Up-MACRO Holding Trust shall be accompanied by the delegation of such similar duties to the same entity with respect to the Down-MACRO Holding Trust, unless the prior written consent of the Depositor is obtained. Notwithstanding anything herein to the contrary, neither Marketing Agent shall assign any of its duties and responsibilities as a Marketing Agent; provided, that, each Marketing Agent shall be entitled to assign or pledge its right to receive its fee hereunder to any third party.

Delegation of Duties by Marketing Agents; Assignment of Fees. In the ordinary course of business, each Marketing Agent may at any time delegate any duties hereunder to any Person who agrees to conduct such duties in accordance with this Trust Agreement. Any such delegations shall not relieve such Marketing Agent of its liability and responsibility with respect to such duties and shall not constitute a resignation, and such Marketing Agent will remain jointly and severally liable with such Person for any amounts which would otherwise be payable pursuant to this Article ARTICLE 10 as if such Marketing Agent had performed such duty; provided, however, that in the case of any significant delegation to a Person other than an Affiliate of such Marketing Agent, (1) at least thirty (30) days' prior written notice shall be given to the Trustee and the Depositor of such delegation to any entity that is not an Affiliate of such Marketing Agent and (2) the prior written consent of the Depositor must be obtained. Furthermore, any delegation of duties by either Marketing Agent with respect to the UpDown-MACRO Holding Trust shall be accompanied by the delegation of such similar duties to the same entity with respect to the DownUp-MACRO Holding Trust, unless the prior written consent of the Depositor is obtained. Notwithstanding anything herein to the contrary, neither Marketing Agent shall assign any of its duties and responsibilities as a Marketing Agent; provided, that, each Marketing Agent shall be entitled to assign or pledge its right to receive its fee hereunder to any third party.

Delegation of Duties by Marketing Agents; Assignment of Fees. In the ordinary course of business, each of the Marketing Agent may at any time delegate any duties hereunder to any Person who agrees to conduct such duties in accordance with this Trust Agreement. Any such delegations shall not relieve such the Marketing Agent Agents of its their liability and responsibility with respect to such duties and shall not constitute a resignation, and such each of the Marketing Agent Agents will remain jointly and severally liable with such Person for any amounts which would otherwise be payable pursuant to this Article 10 as if such the Marketing Agent Agents had performed such duty; provided, however, that in the case of any significant delegation to a Person other than an Affiliate of such any of the Marketing AgentAgents, (1) at least thirty (30) days' prior written notice shall be given to the Trustee and the Depositor of such delegation to any entity that is not an Affiliate of such any of the Marketing Agent Agents and (2) the prior written consent of the Depositor must be obtained. Furthermore, any delegation of duties by either the Marketing Agent Agents with respect to the Up-MACRO Holding Up Trust shall be accompanied by the delegation of such similar duties to the same entity with respect to the Down-MACRO Holding Down Trust, unless the prior written consent of the Depositor is obtained. Notwithstanding anything herein to the contrary, neither the Marketing Agent Agents shall not assign any of its their duties and responsibilities as a Marketing AgentAgents; provided, that, each the Marketing Agent Agents shall be entitled to assign or pledge its their right to receive its fee their fees hereunder to any third party.