Common use of Establishment of the Distribution Account Clause in Contracts

Establishment of the Distribution Account. (a) The Trustee shall establish and maintain in the name of the Trustee, on behalf of the Up-MACRO Tradeable Trust and for the benefit of the Holders of the Up-MACRO Tradeable Shares, an Eligible Deposit Account bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Holders of the Up-MACRO Tradeable Shares (the "Distribution Account"). (b) The Distribution Account shall initially be established with the Trustee. The Trustee shall possess all right, title and interest in and to all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Holders of the Up-MACRO Tradeable Shares. (c) Except as expressly provided in this Trust Agreement, each of the Depositor, the Administrative Agent and the Trustee agree that it shall have no right of set-off or banker's lien against, and no right to otherwise deduct from, any funds held in the Distribution Account for any amount owed to it by the Up-MACRO Tradeable Trust or any Holder of Up-MACRO Tradeable Shares. If, at any time, the Distribution Account ceases to be an Eligible Deposit Account, the Trustee shall within twenty (20) Business Days establish a new account, transfer any funds on deposit therein to such new account, and from the date such new account is established, it shall be the "Distribution Account" for purposes of this Trust Agreement. (d) Immediately upon receipt thereof, the Trustee shall deposit into the Distribution Account any distribution amount received on the Up-MACRO Holding Shares held by the Up-MACRO Tradeable Trust and shall distribute such amount, on the same Business Day on which such amount is received, to the Holders of the Up-MACRO Tradeable Shares, ratably based on the Aggregate Par Amount of Up-MACRO Tradeable Shares held by each such Holder.

Establishment of the Distribution Account. (a) The Trustee shall establish and maintain in the name of the Trustee, on behalf of the Up-MACRO Tradeable Holding Trust and for the benefit of the Holders of the Up-MACRO Tradeable Holding Shares, an Eligible Deposit Account bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Holders of the Up-MACRO Tradeable Holding Shares (the "Distribution Account"). (b) The Distribution Account shall initially be established with the Trustee. The Trustee shall possess all right, title and interest in and to all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Holders of the Up-MACRO Tradeable Holding Shares. (c) Except as expressly provided in this Trust Agreement, each of the Depositor, the Administrative Agent and the Trustee agree that it shall have no right of set-off or banker's lien against, and no right to otherwise deduct from, any funds held in the Distribution Account for any amount owed to it by the Up-MACRO Tradeable Holding Trust or any Holder of Up-MACRO Tradeable Holding Shares. If, at any time, the Distribution Account ceases to be an Eligible Deposit Account, the Trustee shall within twenty (20) Business Days establish a new account, transfer any funds on deposit therein cash or any investments to such new account, and from the date such new account is established, it shall be the "Distribution Account" for purposes of this Trust Agreement. (d) Immediately upon receipt thereof, the The Trustee shall deposit into the Distribution Account any distribution amount on or prior to each Distribution Date, on each Redemption Date and on each Issuance Date, (i) all maturity proceeds, interest and other income received on the Eligible Treasuries held in the Securities Account during any Calculation Period, (ii) all payments received by the Up-MACRO Holding Shares held Trust under the Income Distribution Agreement, (iii) all payments received by the Up-MACRO Tradeable Holding Trust under the Settlement Contracts, and (iv) funds delivered by Authorized Participants in connection with Paired Issuances or Redemption Cash Components delivered in connection with Paired Optional Redemptions, which are not immediately used to acquire Eligible Treasuries. (e) Not later than the Distribution Payment Date that follows each Distribution Date, including any Distribution Date that is also the Final Scheduled Termination Date or an Early Termination Date, the Trustee shall withdraw all funds on deposit in the Distribution Account and shall distribute apply such amountfunds for the purposes and in accordance with the priorities specified in Section 5.2(a). On each Redemption Date, the Trustee shall withdraw cash on deposit in the same Business Day on which such amount is received, Distribution Account and deliver it to the Holders of Authorized Participant or Authorized Participants who directed the Up-MACRO Tradeable Shares, ratably based on Paired Optional Redemption to the Aggregate Par Amount of Up-MACRO Tradeable Shares held extent directed to do so by each such Holderthe Administrative Agent and in the amount that is determined by the Administrative Agent pursuant to Section 6.4 hereof.

Establishment of the Distribution Account. (a) The Trustee shall establish and maintain in the name of the Trustee, on behalf of the UpDown-MACRO Tradeable Holding Trust and for the benefit of the Holders of the UpDown-MACRO Tradeable Holding Shares, an Eligible Deposit Account bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Holders of the UpDown-MACRO Tradeable Holding Shares (the "Distribution Account"). (b) The Distribution Account shall initially be established with the Trustee. The Trustee shall possess all right, title and interest in and to all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Holders of the UpDown-MACRO Tradeable Holding Shares. (c) Except as expressly provided in this Trust Agreement, each of the Depositor, the Administrative Agent and the Trustee agree that it shall have no right of set-off or banker's lien against, and no right to otherwise deduct from, any funds held in the Distribution Account for any amount owed to it by the UpDown-MACRO Tradeable Holding Trust or any Holder of UpDown-MACRO Tradeable Holding Shares. If, at any time, the Distribution Account ceases to be an Eligible Deposit Account, the Trustee shall within twenty (20) Business Days establish a new account, transfer any funds on deposit therein cash or any investments to such new account, and from the date such new account is established, it shall be the "Distribution Account" for purposes of this Trust Agreement. (d) Immediately upon receipt thereof, the The Trustee shall deposit into the Distribution Account any distribution amount on or prior to each Distribution Date, on each Redemption Date and on each Issuance Date, (i) all maturity proceeds, interest and other income received on the UpEligible Treasuries held in the Securities Account during any Calculation Period, (ii) all payments received by the Down-MACRO Holding Shares held Trust under the Income Distribution Agreement, (iii) all payments received by the UpDown-MACRO Tradeable Holding Trust under the Settlement Contracts, and (iv) funds delivered by Authorized Participants in connection with Paired Issuances or Redemption Cash Components delivered in connection with Paired Optional Redemptions, which are not immediately used to acquire Eligible Treasuries. (e) Not later than the Distribution Payment Date that follows each Distribution Date, including any Distribution Date that is also the Final Scheduled Termination Date or an Early Termination Date, the Trustee shall withdraw all funds on deposit in the Distribution Account and shall distribute apply such amountfunds for the purposes and in accordance with the priorities specified in Section 5.2(a). On each Redemption Date, the Trustee shall withdraw cash on deposit in the same Business Day on which such amount is received, Distribution Account and deliver it to the Holders of Authorized Participant or Authorized Participants who directed the Up-MACRO Tradeable Shares, ratably based on Paired Optional Redemption to the Aggregate Par Amount of Up-MACRO Tradeable Shares held extent directed to do so by each such Holderthe Administrative Agent and in the amount that is determined by the Administrative Agent pursuant to Section 6.4 hereof.

Establishment of the Distribution Account. (a) The Trustee shall establish and maintain in the name of the Trustee, on behalf of the UpDown-MACRO Tradeable Trust and for the benefit of the Holders of the UpDown-MACRO Tradeable Shares, an Eligible Deposit Account bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Holders of the UpDown-MACRO Tradeable Shares (the "Distribution Account"). (b) The Distribution Account shall initially be established with the Trustee. The Trustee shall possess all right, title and interest in and to all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Holders of the UpDown-MACRO Tradeable Shares. (c) Except as expressly provided in this Trust Agreement, each of the Depositor, the Administrative Agent and the Trustee agree that it shall have no right of set-off or banker's lien against, and no right to otherwise deduct from, any funds held in the Distribution Account for any amount owed to it by the UpDown-MACRO Tradeable Trust or any Holder of UpDown-MACRO Tradeable Shares. If, at any time, the Distribution Account ceases to be an Eligible Deposit Account, the Trustee shall within twenty (20) Business Days establish a new account, transfer any funds on deposit therein to such new account, and from the date such new account is established, it shall be the "Distribution Account" for purposes of this Trust Agreement. (d) Immediately upon receipt thereof, the Trustee shall deposit into the Distribution Account any distribution amount received on the UpDown-MACRO Holding Shares held by the UpDown-MACRO Tradeable Trust and shall distribute such amount, on the same Business Day on which such amount is received, to the Holders of the UpDown-MACRO Tradeable Shares, ratably based on the Aggregate Par Amount of UpDown-MACRO Tradeable Shares held by each such Holder.

Establishment of the Distribution Account. (a) The Trustee shall establish and maintain in the name of the Trustee, on behalf of the Up-MACRO Tradeable Up Trust and for the benefit of the Holders of the Up-MACRO Tradeable SharesUp MacroShares, an Eligible Deposit Account bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Holders of the Up-MACRO Tradeable Shares Up MacroShares (the "Distribution Account"). (b) The Distribution Account shall initially be established with the Trustee. The Trustee shall possess all right, title and interest in and to all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Holders of the Up-MACRO Tradeable SharesUp MacroShares. (c) Except as expressly provided in this Trust Agreement, each of the Depositor, the Administrative Agent and the Trustee agree that it shall have no right of set-off or banker's lien against, and no right to otherwise deduct from, any funds held in the Distribution Account for any amount owed to it by the Up-MACRO Tradeable Up Trust or any Holder of Up-MACRO Tradeable SharesUp MacroShares. If, at any time, the Distribution Account ceases to be an Eligible Deposit Account, the Trustee shall within twenty (20) Business Days establish a new account, transfer any funds on deposit therein cash or any investments to such new account, and from the date such new account is established, it shall be the "Distribution Account" for purposes of this Trust Agreement. (d) Immediately upon receipt thereof, the The Trustee shall deposit into the Distribution Account any distribution amount on or prior to each Distribution Date, on each Redemption Date and on each Issuance Date, as applicable, (i) all maturity proceeds, interest and other income received on the Up-MACRO Holding Shares Eligible Treasuries held in the Securities Account during any Calculation Period, (ii) all payments received by the Up-MACRO Tradeable Up Trust under the Income Distribution Agreement, (iii) all payments received by the Up Trust under the Settlement Contracts, and (iv) funds delivered by Authorized Participants in connection with Paired Issuances and Redemption Cash Components delivered in connection with Paired Optional Redemptions, which are not immediately used to acquire Eligible Treasuries. (e) Not later than the Distribution Payment Date that follows each Distribution Date, including any Distribution Date that is also the Final Scheduled Termination Date or an Early Termination Date, the Trustee shall withdraw all funds on deposit in the Distribution Account and shall distribute apply such amountfunds for the purposes and in accordance with the priorities specified in Section 5.2(a). On each Redemption Date, the Trustee shall withdraw cash on deposit in the same Business Day on which such amount is received, Distribution Account and deliver it to the Holders of Authorized Participant or Authorized Participants who directed the Up-MACRO Tradeable Shares, ratably based on Paired Optional Redemption to the Aggregate Par Amount of Up-MACRO Tradeable Shares held extent directed to do so by each such Holderthe Administrative Agent and in the amount that is determined by the Administrative Agent pursuant to Section 6.4 hereof.

Establishment of the Distribution Account. (a) The Trustee Trustee, for the benefit of the Holders of the Up-MACRO Holding Shares, shall establish and maintain in the name of the Trustee, on behalf of the Up-MACRO Tradeable Trust and for the benefit of the Holders of the Up-MACRO Tradeable SharesHolding Trust, an Eligible Deposit Account bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Holders of the Up-MACRO Tradeable Holding Shares (the "Distribution Account"). (b) The Distribution Account shall initially be established with the Trustee. The Trustee shall possess all right, title and interest in and to all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Holders of the Up-MACRO Tradeable Holding Shares. (c) Except as expressly provided in this Trust Agreement, each of the Depositor, the Administrative Agent and the Trustee agree that it shall have no right of set-off or banker's lien against, and no right to otherwise deduct from, any funds held in the Distribution Account for any amount owed to it by the Up-MACRO Tradeable Holding Trust or any Holder of Up-MACRO Tradeable Holding Shares. If, at any time, the Distribution Account ceases to be an Eligible Deposit Account, the Trustee shall within twenty (20) Business Days establish a new account, transfer any funds on deposit therein cash or any investments to such new account, and from the date such new account is established, it shall be the "Distribution Account" for purposes of this Trust Agreement. (d) Immediately upon receipt thereof, the The Trustee shall deposit into the Distribution Account on or prior to each Distribution Date, (i) all interest and other income on the Treasuries held in the Securities Account that is received within one Business Day preceding any distribution amount Distribution Date, (ii) all payments received on by the Up-MACRO Holding Shares held by Trust under the Up-MACRO Tradeable Trust Income Distribution Agreement and the Settlement Contracts, and, (iii) pursuant to Section 3.5(e), all proceeds of the Treasuries remaining on deposit in the Securities Account on any Distribution Date. (e) Not later than the Distribution Payment Date that follows each Distribution Date, including any Distribution Date that is also the Final Scheduled Termination Date, an Early Termination Date or a Redemption Date, the Trustee shall withdraw all funds on deposit in the Distribution Account and shall distribute apply such amount, on funds for the same Business Day on which such amount is received, to purposes and in accordance with the Holders of the Up-MACRO Tradeable Shares, ratably based on the Aggregate Par Amount of Up-MACRO Tradeable Shares held by each such Holderpriorities specified in Section 5.2(a).

Establishment of the Distribution Account. (a) The Trustee shall establish and maintain in the name of the Trustee, on behalf of the Up-MACRO Tradeable Down Trust and for the benefit of the Holders of the Up-MACRO Tradeable SharesDown MacroShares, an Eligible Deposit Account bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Holders of the Up-MACRO Tradeable Shares Down MacroShares (the "Distribution Account"). (b) The Distribution Account shall initially be established with the Trustee. The Trustee shall possess all right, title and interest in and to all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Holders of the Up-MACRO Tradeable SharesDown MacroShares. (c) Except as expressly provided in this Trust Agreement, each of the Depositor, the Administrative Agent and the Trustee agree that it shall have no right of set-off or banker's lien against, and no right to otherwise deduct from, any funds held in the Distribution Account for any amount owed to it by the Up-MACRO Tradeable Down Trust or any Holder of Up-MACRO Tradeable SharesDown MacroShares. If, at any time, the Distribution Account ceases to be an Eligible Deposit Account, the Trustee shall within twenty (20) Business Days establish a new account, transfer any funds on deposit therein cash or any investments to such new account, and from the date such new account is established, it shall be the "Distribution Account" for purposes of this Trust Agreement. (d) Immediately upon receipt thereof, the The Trustee shall deposit into the Distribution Account any distribution amount on or prior to each Distribution Date, on each Redemption Date and on each Issuance Date, as applicable, (i) all maturity proceeds, interest and other income received on the Up-MACRO Holding Shares Eligible Treasuries held in the Securities Account during any Calculation Period, (ii) all payments received by the Up-MACRO Tradeable Down Trust under the Income Distribution Agreement, (iii) all payments received by the Down Trust under the Settlement Contracts and (iv) funds delivered by Authorized Participants in connection with Paired Issuances and Redemption Cash Components delivered in connection with Paired Optional Redemptions, which are not immediately used to acquire Eligible Treasuries. (e) Not later than the Distribution Payment Date that follows each Distribution Date, including any Distribution Date that is also the Final Scheduled Termination Date or an Early Termination Date, the Trustee shall withdraw all funds on deposit in the Distribution Account and shall distribute apply such amountfunds for the purposes and in accordance with the priorities specified in Section 5.2(a). On each Redemption Date, the Trustee shall withdraw cash on deposit in the same Business Day on which such amount is received, Distribution Account and deliver it to the Holders of Authorized Participant or Authorized Participants who directed the Up-MACRO Tradeable Shares, ratably based on Paired Optional Redemption to the Aggregate Par Amount of Up-MACRO Tradeable Shares held extent directed to do so by each such Holderthe Administrative Agent and in the amount that is determined by the Administrative Agent pursuant to Section 6.4 hereof.

Establishment of the Distribution Account. (a) The Trustee Trustee, for the benefit of the Holders of the Down-MACRO Holding Shares, shall establish and maintain in the name of the Trustee, on behalf of the UpDown-MACRO Tradeable Trust and for the benefit of the Holders of the Up-MACRO Tradeable SharesHolding Trust, an Eligible Deposit Account bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Holders of the UpDown-MACRO Tradeable Holding Shares (the "Distribution Account"). (b) The Distribution Account shall initially be established with the Trustee. The Trustee shall possess all right, title and interest in and to all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Holders of the UpDown-MACRO Tradeable Holding Shares. (c) Except as expressly provided in this Trust Agreement, each of the Depositor, the Administrative Agent and the Trustee agree that it shall have no right of set-off or banker's lien against, and no right to otherwise deduct from, any funds held in the Distribution Account for any amount owed to it by the UpDown-MACRO Tradeable Holding Trust or any Holder of UpDown-MACRO Tradeable Holding Shares. If, at any time, the Distribution Account ceases to be an Eligible Deposit Account, the Trustee shall within twenty (20) Business Days establish a new account, transfer any funds on deposit therein cash or any investments to such new account, and from the date such new account is established, it shall be the "Distribution Account" for purposes of this Trust Agreement. (d) Immediately upon receipt thereof, the The Trustee shall deposit into the Distribution Account any distribution amount received on or prior to each Distribution Date, (i) all interest and other income on the UpTreasuries held in the Securities Account that is received within one Business Day preceding any Distribution Date, (ii) all payments received by the Down-MACRO Holding Shares held by Trust under the Up-MACRO Tradeable Trust Income Distribution Agreement and the Settlement Contracts, and, (iii) pursuant to Section 3.5(e), all proceeds of the Treasuries remaining on deposit in the Securities Account on any Distribution Date. (e) Not later than the Distribution Payment Date that follows each Distribution Date, including any Distribution Date that is also the Final Scheduled Termination Date, an Early Termination Date or a Redemption Date, the Trustee shall withdraw all funds on deposit in the Distribution Account and shall distribute apply such amount, on funds for the same Business Day on which such amount is received, to purposes and in accordance with the Holders of the Up-MACRO Tradeable Shares, ratably based on the Aggregate Par Amount of Up-MACRO Tradeable Shares held by each such Holderpriorities specified in Section 5.2(a).

Establishment of the Distribution Account. (a) The Trustee shall establish and maintain in the name of the Trustee, on behalf of the Up-MACRO Tradeable Up Trust and for the benefit of the Holders of the Up-MACRO Tradeable SharesUp MacroShares, an Eligible Deposit Account bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Holders of the Up-MACRO Tradeable Shares Up MacroShares (the "Distribution Account"). (b) The Distribution Account shall initially be established with the Trustee. The Trustee shall possess all right, title and interest in and to all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Holders of the Up-MACRO Tradeable SharesUp MacroShares. (c) Except as expressly provided in this Trust Agreement, each of the Depositor, the Administrative Agent and the Trustee agree that it shall have no right of set-off or banker's lien against, and no right to otherwise deduct from, any funds held in the Distribution Account for any amount owed to it by the Up-MACRO Tradeable Up Trust or any Holder of Up-MACRO Tradeable SharesUp MacroShares. If, at any time, the Distribution Account ceases to be an Eligible Deposit Account, the Trustee shall within twenty (20) Business Days establish a new account, transfer any funds on deposit therein cash or any investments to such new account, and from the date such new account is established, it shall be the "Distribution Account" for purposes of this Trust Agreement. (d) Immediately upon receipt thereof, the The Trustee shall deposit into the Distribution Account any distribution amount on or prior to each Distribution Date, on each Redemption Date and on each Issuance Date, as applicable, (i) all maturity proceeds, interest and other income received on the Up-MACRO Holding Shares Eligible Treasuries held in the Securities Account during any Calculation Period, (ii) all payments received by the Up-MACRO Tradeable Up Trust under the Income Distribution Agreement, (iii) all payments received by the Up Trust under the Settlement Contracts, (iv) funds delivered by Authorized Participants in connection with Paired Issuances and Redemption Cash Components delivered in connection with Paired Optional Redemptions, which are not immediately used to acquire Eligible Treasuries, and (v) funds on deposit in the Fee Payment Account in excess of the amount needed to pay fees and expenses on an Early Termination Date or on the Final Scheduled Termination Date. (e) Not later than the Distribution Payment Date that follows each Distribution Date, including any Distribution Date that is also the Final Scheduled Termination Date or an Early Termination Date, the Trustee shall withdraw all funds on deposit in the Distribution Account and shall distribute apply such amountfunds for the purposes and in accordance with the priorities specified in Section 5.2(a). On each Redemption Date, the Trustee shall withdraw cash on deposit in the same Business Day on which such amount is received, Distribution Account and deliver it to the Holders of Authorized Participant or Authorized Participants who directed the Up-MACRO Tradeable Shares, ratably based on Paired Optional Redemption to the Aggregate Par Amount of Up-MACRO Tradeable Shares held extent directed to do so by each such Holderthe Administrative Agent and in the amount that is determined by the Administrative Agent pursuant to Section 6.4 hereof.