Common use of Paired Issuances Clause in Contracts

Paired Issuances. (a) On any Business Day that occurs after the Closing Date but prior to the Final Scheduled Termination Date or an Early Termination Date, the Down Trust shall issue additional Down MacroShares contemporaneously with the issuance of additional Up MacroShares in the form of MacroShares Units (such an issuance, a "Paired Issuance") 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. Down MacroShares will be issued at the Per Share Underlying Value of the existing Down MacroShares on the Issuance Valuation Date preceding the relevant Issuance Date.

Paired Issuances. (a) On any Business Day that occurs after the Closing Date but prior to the Final Scheduled Termination Date or an Early Termination Date, the Down Up Trust shall issue additional Down Up MacroShares contemporaneously with the issuance of additional Up Down MacroShares in the form of MacroShares Units (such an issuance, a "Paired Issuance") 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. Down Up MacroShares will be issued at the Per Share Underlying Value of the existing Down Up MacroShares on the Issuance Valuation Date preceding the relevant Issuance Date.