Common use of Paired Issuances Clause in Contracts

Paired Issuances. (a) On any Price Determination Day that occurs after the Closing Date but prior to the Final Scheduled Termination Date or an Early Termination Date, the Up-MACRO Holding Trust shall issue additional Up-MACRO Holding Shares contemporaneously with the issuance of additional Down-MACRO Holding Shares in the form of MACRO Units (such an issuance, a "Paired Issuance") and, if applicable, concurrently exchange such MACRO Units to their related Tradeable Shares following the receipt of, and in accordance with, a Creation Order delivered by an Authorized Participant and forwarded to the Trustee by the Administrative Agent. Any Authorized Participant who directs a Paired Issuance pursuant to Section 6.2 of the Up-MACRO Holding Trust Agreement shall be deemed (unless it has specifically directed that Paired Holding Shares be delivered to it) to direct the deposit of the Paired Holding Shares created in such Paired Issuance into the Up-MACRO Tradeable Trust and the issuance in exchange therefor of Up-MACRO Tradeable Shares which shall be delivered to the Authorized Participant pursuant to and in accordance with the procedures specified in the Participants Agreement.

Paired Issuances. (a) On any Price Determination Day that occurs after the Closing Date but prior to the Final Scheduled Termination Date or an Early Termination Date, the UpDown-MACRO Holding Trust shall issue additional UpDown-MACRO Holding Shares contemporaneously with the issuance of additional DownUp-MACRO Holding Shares in the form of MACRO Units (such an issuance, a "Paired Issuance") and, if applicable, concurrently exchange such MACRO Units to their related Tradeable Shares following the receipt of, and in accordance with, a Creation Order delivered by an Authorized Participant and forwarded to the Trustee by the Administrative Agent. Any Authorized Participant who directs a Paired Issuance pursuant to Section 6.2 of the UpDown-MACRO Holding Trust Agreement shall be deemed (unless it has specifically directed that Paired Holding Shares be delivered to it) to direct the deposit of the Paired Holding Shares created in such Paired Issuance into the UpDown-MACRO Tradeable Trust and the issuance in exchange therefor of UpDown-MACRO Tradeable Shares which shall be delivered to the Authorized Participant pursuant to and in accordance with the procedures specified in the Participants Agreement.