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. Only Authorized Participants may direct Paired Issuances. Up-MACRO Holding Shares will be issued at the Per Share Underlying Value of the existing Up-MACRO Holding Shares on the Issuance Order Date on which the related Creation Order was delivered; provided that in the case of any Creation Order placed on a Distribution Date or on the Business Day succeeding a Distribution Date, the Authorized Participant submitting the Creation Order will be required to deliver, in addition to cash in the amount of the aggregate per share Underlying Value of the Up-MACRO Holding Shares being created, an amount equal to the Up-MACRO and Down-MACRO Earned Income Accruals for each intervening day between the Issuance Order Date and the Issuance Date, calculated on the basis of the Applicable Reference Price of Crude Oil on the Issuance Order Date.

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. Only Authorized Participants may direct Paired Issuances. UpDown-MACRO Holding Shares will be issued at the Per Share Underlying Value of the existing UpDown-MACRO Holding Shares on the Issuance Order Date on which the related Creation Order was delivered; provided that in the case of any Creation Order placed on a Distribution Date or on the Business Day succeeding a Distribution Date, the Authorized Participant submitting the Creation Order will be required to deliver, in addition to cash in the amount of the aggregate per share Underlying Value of the UpDown-MACRO Holding Shares being created, an amount equal to the UpDown-MACRO and DownUp-MACRO Earned Income Accruals for each intervening day between the Issuance Order Date and the Issuance Date, calculated on the basis of the Applicable Reference Price of Crude Oil on the Issuance Order Date.

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. Only Authorized Participants may direct Paired Issuances. Up-MACRO Holding Shares will be issued at the Per Share Underlying Value of the existing Up-MACRO Holding Shares on the Issuance Order Date on which the related Creation Order was delivered; provided that in the case of any Creation Order placed on a Distribution Date or on the Business Day succeeding a Distribution Date, the Authorized Participant submitting the Creation Order will be required to deliver, in addition to cash in the amount of the aggregate per share Underlying Value of the Up-MACRO Holding Shares being created, an amount equal to the Up-MACRO and Down-MACRO Earned Income Accruals for each intervening day between the Issuance Order Date and the Issuance Date, calculated on the basis of the Applicable Reference Price of Crude Oil on the Issuance Order Date.