Common use of Non-Petition Covenant; No Proceedings Clause in Contracts

Non-Petition Covenant; No Proceedings. (a) Notwithstanding any prior termination of this Trust Agreement, the Trustee and the Sponsor shall not, prior to the date which is one year and one day after the termination of this Trust Agreement, acquiesce in, petition for or otherwise invoke or cause the Trust or any Fund to invoke the process of any federal, state, local or foreign court or arbitrator or governmental department, commission, board, bureau, agency, authority, instrumentality or regulatory body for the purpose of (x) commencing or sustaining a case against the Trust or such Fund under any federal or state bankruptcy, insolvency or similar law, (y) appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Trust or such Fund or any substantial part of their respective property or (z) ordering the winding up or liquidation of the affairs of the Trust or such Fund. (b) Each of the Trustee, the Sponsor and each Shareholder, by acceptance of its Shares, hereby agrees that it will not institute against a Shareholder, or join any other Person in instituting against a Shareholder, on account of its ownership of a Share or its obligations hereunder, any bankruptcy, insolvency, liquidation, readjustment of debt, marshaling of assets or any similar proceeding so long as there has not elapsed one year plus one day since the last day on which any Shares of any Fund shall have been issued and outstanding.

Non-Petition Covenant; No Proceedings. (a) Notwithstanding any prior termination of this Trust Agreement, the Trustee Trustee, the Administrative Agent, the Marketing Agents and the Sponsor Depositor shall not, prior to the date which is one year and one day after the termination of this Trust AgreementAgreement with respect to the Down Trust, acquiesce in, petition for or otherwise invoke or cause the Down Trust or any Fund the Depositor to invoke the process of any federal, state, local or foreign court or arbitrator or governmental department, commission, board, bureau, agency, authority, instrumentality or regulatory body Governmental Authority for the purpose of (x) commencing or sustaining a case against the Down Trust or such Fund the Depositor under any federal or state bankruptcy, insolvency or similar law, (y) appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Down Trust or such Fund the Depositor or any substantial part of their respective property or (z) ordering the winding winding-up or liquidation of the affairs of the Down Trust or such Fundthe Depositor. (b) Each of the Trustee, the Sponsor Depositor, the Administrative Agent and the Marketing Agents and each ShareholderHolder, by acceptance of its SharesDown MacroShares, hereby agrees that it will not institute against a ShareholderHolder, or join any other Person in instituting against a ShareholderHolder, on account of its ownership of a Share Down MacroShare or its obligations hereunder, any bankruptcy, insolvency, liquidation, readjustment of debt, marshaling marshalling of assets or any similar proceeding so long as there has not elapsed one year plus one day since the last day on which any Shares of any Fund Down MacroShares shall have been issued and outstandingOutstanding.

Non-Petition Covenant; No Proceedings. (a) Notwithstanding any prior termination of this Trust Agreement, the Trustee Trustee, the Administrative Agent, the Marketing Agents and the Sponsor Depositor shall not, prior to the date which is one year and one day after the termination of this Trust AgreementAgreement with respect to the Up Trust, acquiesce in, petition for or otherwise invoke or cause the Up Trust or any Fund the Depositor to invoke the process of any federal, state, local or foreign court or arbitrator or governmental department, commission, board, bureau, agency, authority, instrumentality or regulatory body Governmental Authority for the purpose of (x) commencing or sustaining a case against the Up Trust or such Fund the Depositor under any federal or state bankruptcy, insolvency or similar law, (y) appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Up Trust or such Fund the Depositor or any substantial part of their respective property or (z) ordering the winding winding-up or liquidation of the affairs of the Up Trust or such Fundthe Depositor. (b) Each of the Trustee, the Sponsor Depositor, the Administrative Agent and the Marketing Agents and each ShareholderHolder, by acceptance of its SharesUp MacroShares, hereby agrees that it will not institute against a ShareholderHolder, or join any other Person in instituting against a ShareholderHolder, on account of its ownership of a Share an Up MacroShares or its obligations hereunder, any bankruptcy, insolvency, liquidation, readjustment of debt, marshaling marshalling of assets or any similar proceeding so long as there has not elapsed one year plus one day since the last day on which any Shares of any Fund Up MacroShares shall have been issued and outstandingOutstanding.