Common use of Notices to Beneficial Owners Clause in Contracts

Notices to Beneficial Owners. As described above, the Trustee will recognize the Depository or its nominee as the owner of all Down-MACRO Holding Shares for all purposes except as expressly set forth in this Trust Agreement. Conveyance of all notices, statements and other communications required to be delivered to Beneficial Owners will be effected as follows: The Administrative Agent shall inquire of each such DTC Participant as to the number of Beneficial Owners holding Down-MACRO Holding Shares, directly or indirectly, through such DTC Participant. The Administrative Agent shall provide each such DTC Participant with sufficient copies of such notice, statement or other communication, in such form, number and at such place as such DTC Participant may reasonably request, in order that such notice, statement or communication may be transmitted by such DTC Participant, directly or indirectly, to such Beneficial Owners. In addition, the Down-MACRO Holding Trust shall reimburse each such DTC Participant for the expenses attendant to such transmittal, subject to applicable statutory and regulatory requirements.

Notices to Beneficial Owners. As described above, the Trustee will recognize the Depository or its nominee as the owner of all DownUp-MACRO Holding Shares for all purposes except as expressly set forth in this Trust Agreement. Conveyance of all notices, statements and other communications required to be delivered to Beneficial Owners will be effected as follows: The Administrative Agent shall inquire of each such DTC Participant as to the number of Beneficial Owners holding DownUp-MACRO Holding Shares, directly or indirectly, through such DTC Participant. The Administrative Agent shall provide each such DTC Participant with sufficient copies of such notice, statement or other communication, in such form, number and at such place as such DTC Participant may reasonably request, in order that such notice, statement or communication may be transmitted by such DTC Participant, directly or indirectly, to such Beneficial Owners. In addition, the DownUp-MACRO Holding Trust shall reimburse each such DTC Participant for the expenses attendant to such transmittal, subject to applicable statutory and regulatory requirements.

Notices to Beneficial Owners. As described above, the Trustee will recognize the Depository or its nominee as the owner of all DownUp-MACRO Holding Tradeable Shares for all purposes except as expressly set forth in this Trust Agreement. Conveyance of all notices, statements and other communications required to be delivered to Beneficial Owners will be effected as follows: The Administrative Agent shall inquire of each such DTC Participant as to the number of Beneficial Owners holding DownUp-MACRO Holding Tradeable Shares, directly or indirectly, through such DTC Participant. The Administrative Agent shall provide each such DTC Participant with sufficient copies of such notice, statement or other communication, in such form, number and at such place as such DTC Participant may reasonably request, in order that such notice, statement or communication may be transmitted by such DTC Participant, directly or indirectly, to such Beneficial Owners. In addition, the DownUp-MACRO Holding Tradeable Trust shall reimburse each such DTC Participant for the expenses attendant to such transmittal, subject to applicable statutory and regulatory requirements. The Administrative Agent or Depositor will instruct the Trust to pay said expenses.

Notices to Beneficial Owners. As described above, the Trustee will recognize the Depository or its nominee as the owner of all Down-MACRO Holding Tradeable Shares for all purposes except as expressly set forth in this Trust Agreement. Conveyance of all notices, statements and other communications required to be delivered to Beneficial Owners will be effected as follows: The Administrative Agent shall inquire of each such DTC Participant as to the number of Beneficial Owners holding Down-MACRO Holding Tradeable Shares, directly or indirectly, through such DTC Participant. The Administrative Agent shall provide each such DTC Participant with sufficient copies of such notice, statement or other communication, in such form, number and at such place as such DTC Participant may reasonably request, in order that such notice, statement or communication may be transmitted by such DTC Participant, directly or indirectly, to such Beneficial Owners. In addition, the Down-MACRO Holding Tradeable Trust shall reimburse each such DTC Participant for the expenses attendant to such transmittal, subject to applicable statutory and regulatory requirements. The Administrative Agent or Depositor will instruct the Trust to pay said expenses.

Notices to Beneficial Owners. As described above, the Trustee will recognize the Depository or its nominee as the owner of all Down-MACRO Holding Shares Up MacroShares for all purposes except as expressly set forth in this Trust Agreement. Conveyance of all notices, statements and other communications required to be delivered to Beneficial Owners will be effected as follows: The Administrative Agent shall inquire of each such DTC Participant as to the number of Beneficial Owners holding Down-MACRO Holding SharesUp MacroShares, directly or indirectly, through such DTC Participant. The Administrative Agent shall provide each such DTC Participant with sufficient copies of such notice, statement or other communication, in such form, number and at such place as such DTC Participant may reasonably request, in order that such notice, statement or communication may be transmitted by such DTC Participant, directly or indirectly, to such Beneficial Owners. In addition, the Down-MACRO Holding Up Trust shall reimburse each such DTC Participant for the expenses attendant to such transmittal, subject to applicable statutory and regulatory requirements.