Common use of Paired Optional Redemptions Clause in Contracts

Paired Optional Redemptions. (a) On any Price Determination Day occurring after the Closing Date but prior to the Final Scheduled Termination Date or an Early Termination Date, any Authorized Participant may direct the redemption of Paired Holding Shares by delivering a Redemption Order to the Administrative Agent and satisfying the conditions set forth in this Section 6.1 (such redemption, a "Paired Optional Redemption"). The Authorized Participant directing the Paired Optional Redemption must be the Beneficial Owner of the Paired Holding Shares or the Up-MACRO and Down-MACRO Tradeable Shares which are being tendered for redemption, as shown on the records of the Depository. Only Authorized Participants may direct Paired Optional Redemptions. Up-MACRO Holding Shares will be redeemed at their Per Share Underlying Value, as calculated on the Redemption Order Date on which the related Redemption Order was delivered; provided, that, in the case of any Redemption Order placed on a Distribution Date or on the Business Day succeeding a Distribution Date, such Final Distribution will also include Up-MACRO and Down-MACRO Earned Income Accruals for each intervening day between the Redemption Order Date and the Redemption Date calculated on the basis of the Applicable Reference Price of Crude Oil on the Redemption Order Date.

Paired Optional Redemptions. (a) On any Price Determination Day occurring after the Closing Date but prior to the Final Scheduled Termination Date or an Early Termination Date, any Authorized Participant may direct the redemption of Paired Holding Shares by delivering a Redemption Order to the Administrative Agent and satisfying the conditions set forth in this Section 6.1 (such redemption, a "Paired Optional Redemption"). The Authorized Participant directing the Paired Optional Redemption must be the Beneficial Owner of the Paired Holding Shares or the UpDown-MACRO and DownUp-MACRO Tradeable Shares which are being tendered for redemption, as shown on the records of the Depository. Only Authorized Participants may direct Paired Optional Redemptions. UpDown-MACRO Holding Shares will be redeemed at their Per Share Underlying Value, as calculated on the Redemption Order Date on which the related Redemption Order was delivered; provided, that, in the case of any Redemption Order placed on a Distribution Date or on the Business Day succeeding a Distribution Date, such Final Distribution will also include UpDown-MACRO and DownUp-MACRO Earned Income Accruals for each intervening day between the Redemption Order Date and the Redemption Date calculated on the basis of the Applicable Reference Price of Crude Oil on the Redemption Order Date.

Paired Optional Redemptions. (a) On any Price Determination Day occurring after the Closing Date but prior to the Final Scheduled Termination Date or an Early Termination Date, any Authorized Participant may direct the redemption of Paired Holding Shares by delivering a Redemption Order to the Administrative Agent and satisfying the conditions set forth in this Section 6.1 (such redemption, a "Paired Optional Redemption"). The Authorized Participant directing the Paired Optional Redemption must be the Beneficial Owner of the Paired Holding Shares or the Up-MACRO and Down-MACRO Tradeable Shares which are being tendered for redemption, as shown on the records of the Depository. Only Authorized Participants may direct Paired Optional Redemptions. Up-MACRO Holding Shares Up MacroShares will be redeemed at their Per Share Underlying Value, as calculated on the Redemption Order Date on which the related Redemption Order was delivered; provided, that, in the case of any Redemption Order placed on a Distribution Date or on the Business Day succeeding a Distribution Date, such Final Distribution will also include Up-MACRO Up and Down-MACRO Down Earned Income Accruals for each intervening day between the Redemption Order Date and the Redemption Date calculated on the basis of the Applicable Reference Price of Crude Oil on the Redemption Order Date.

Paired Optional Redemptions. (a) On any Price Determination Business Day occurring on or after the Closing Date [July 1, 2008] but prior to the Final Scheduled Termination Date or an Early Termination Date, any Authorized Participant may direct the redemption of Paired Holding Shares by delivering a Redemption Order to the Administrative Agent and satisfying the conditions set forth in this Section 6.1 (such redemption, a "Paired Optional Redemption"). The Authorized Participant directing the Paired Optional Redemption must be the Beneficial Owner of the Paired Holding Shares or the Up-MACRO and Down-MACRO Tradeable Shares which are being tendered for redemption, as shown on the records of the Depository. Only Authorized Participants may direct Paired Optional Redemptions. Up-MACRO Holding Shares Up MacroShares will be redeemed at their Per Share Underlying Value, as calculated on the Redemption Order Date on which the related Redemption Order was delivered; provided, that, in the case of any Redemption Order placed on a Distribution Date or on the Business Day succeeding a Distribution Date, such Final Distribution will also include Up-MACRO and Down-MACRO Down Earned Income Accruals for each intervening day between the Redemption Order Date and the Redemption Date calculated on the basis of the Applicable Reference Price Value of Crude Oil Medical Inflation on the Redemption Order Date.