Common use of Payments under the Income Distribution Agreement Clause in Contracts

Payments under the Income Distribution Agreement. (a) On each Distribution Payment Date, in accordance with priority fifth of Section 5.2(a) and the terms of the Income Distribution Agreement, the Trustee shall cause the Up Trust to pay to the Down Trust the Up Income Distribution Payment, from amounts on deposit in the Distribution Account, if any such payment is owed by the Up Trust with respect to the related Distribution Date, as calculated pursuant to Section 4.3(a) hereof. If the Up Trust has no Up Available Income on such Distribution Date, then the Up Trust shall not be required to make any payment under the Income Distribution Agreement on such Distribution Date or on any subsequent date and no interest shall accrue on any such unpaid amounts. (b) On each Distribution Payment Date, Trustee shall deposit any Down Income Distribution Payment received from the Down Trust under the Income Distribution Agreement into the Distribution Account for application in accordance with Section 5.2(a) on such Distribution Payment Date.

Appears in 5 contracts

Samples: Macroshares $100 Oil Up Trust Agreement (MacroShares $100 Oil Up Trust), Trust Agreement (MACRO Securities Depositor, LLC), Trust Agreement (MACRO Securities Depositor, LLC)

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Payments under the Income Distribution Agreement. (a) On each Distribution Payment Date, in accordance with priority fifth of Section 5.2(a) and the terms of the Income Distribution Agreement, the Trustee shall cause the Up Down Trust to pay to the Down Up Trust the Up Down Income Distribution Payment, from amounts on deposit in the Distribution Account, if any such payment is owed by the Up Down Trust with respect to the related Distribution Date, as calculated pursuant to Section 4.3(a) hereof. If the Up Down Trust has no Up Down Available Income on such Distribution Date, then the Up Down Trust shall not be required to make any payment under the Income Distribution Agreement on such Distribution Date or on any subsequent date and no interest shall accrue on any such unpaid amounts. (b) On each Distribution Payment Date, Trustee shall deposit any Down Up Income Distribution Payment received from the Down Up Trust under the Income Distribution Agreement into the Distribution Account for application in accordance with Section 5.2(a) on such Distribution Payment Date.

Appears in 4 contracts

Samples: Macroshares Oil Down Trust Agreement (MacroShares $100 Oil Down Trust), Macroshares $100 Oil Down Trust Agreement (MacroShares $100 Oil Down Trust), Trust Agreement (MacroShares $100 Oil Down Trust)

Payments under the Income Distribution Agreement. (a) On each Distribution Payment Date, in accordance with priority fifth of Section 5.2(a) and the terms of the Income Distribution Agreement, the Trustee shall cause the Up Trust to pay to the Down Trust the Up Income Distribution Payment, from amounts on deposit in the Distribution Account, if any such payment is owed by the Up Trust with respect to the related Distribution Date, as calculated pursuant to Section 4.3(a4.2(a) hereof. If the Up Trust has had no Up Available Income on such Distribution Date, then the Up Trust shall not be required to make any payment under the Income Distribution Agreement on such the related Distribution Payment Date or on any subsequent date and no interest shall accrue on any such unpaid amounts. (b) On each Distribution Payment Date, Trustee shall deposit any Down Income Distribution Payment received from the Down Trust under the Income Distribution Agreement into the Distribution Account for application in accordance with Section 5.2(a) on such Distribution Payment Date.

Appears in 2 contracts

Samples: Macroshares Major Metro Housing Up Trust Agreement (MacroShares Housing Depositor, LLC), Macroshares Major Metro Housing Up Trust Agreement (MacroShares Major Metro Housing Up Trust)

Payments under the Income Distribution Agreement. (a) On each Distribution Payment Date, in accordance with priority fifth of Section 5.2(a) and the terms of the Income Distribution Agreement, the Trustee shall cause the Up Trust to pay to the Down Trust the Up Income Distribution Payment, from amounts on deposit in the Distribution Account, if any such payment is owed by the Up Trust with respect to the related Distribution Date, as calculated pursuant to Section 4.3(a) hereof. If the Up Trust has had no Up Available Income on such Distribution Date, then the Up Trust shall not be required to make any payment under the Income Distribution Agreement on such the related Distribution Payment Date or on any subsequent date and no interest shall accrue on any such unpaid amounts. (b) On each Distribution Payment Date, Trustee shall deposit any Down Income Distribution Payment received from the Down Trust under the Income Distribution Agreement into the Distribution Account for application in accordance with Section 5.2(a) on such Distribution Payment Date.

Appears in 1 contract

Samples: Macroshares Major Metro Housing Up Trust Trust Agreement (MacroShares Major Metro Housing Up Trust)

Payments under the Income Distribution Agreement. (a) On each Distribution Payment Date, in accordance with priority fifth of Section 5.2(a) and the terms of the Income Distribution Agreement, the Trustee shall cause the Up Down Trust to pay to the Down U Trust the Up Down Income Distribution Payment, from amounts on deposit in the Distribution Account, if any such payment is owed by the Up Down Trust with respect to the related Distribution Date, as calculated pursuant to Section 4.3(a) hereof. If the Up Down Trust has had no Up Down Available Income on such Distribution Date, then the Up Down Trust shall not be required to make any payment under the Income Distribution Agreement on such the related Distribution Payment Date or on any subsequent date and no interest shall accrue on any such unpaid amounts. (b) On each Distribution Payment Date, Trustee shall deposit any Down Up Income Distribution Payment received from the Down Up Trust under the Income Distribution Agreement into the Distribution Account for application in accordance with Section 5.2(a) on such Distribution Payment Date.

Appears in 1 contract

Samples: Macroshares Major Metro Housing Down Trust Agreement (MacroShares Major Metro Housing Down Trust)

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Payments under the Income Distribution Agreement. (a) On each Distribution Payment Date, in accordance with priority fifth of Section 5.2(a) and the terms of the Income Distribution Agreement, the Trustee shall cause the Up Down Trust to pay to the Down Up Trust the Up Down Income Distribution Payment, from amounts on deposit in the Distribution Account, if any such payment is owed by the Up Down Trust with respect to the related Distribution Date, as calculated pursuant to Section 4.3(a4.2(b) hereof. If the Up Down Trust has had no Up Down Available Income on such Distribution Date, then the Up Down Trust shall not be required to make any payment under the Income Distribution Agreement on such the related Distribution Payment Date or on any subsequent date and no interest shall accrue on any such unpaid amounts. (b) On each Distribution Payment Date, Trustee shall deposit any Down Up Income Distribution Payment received from the Down Up Trust under the Income Distribution Agreement into the Distribution Account for application in accordance with Section 5.2(a) on such Distribution Payment Date.

Appears in 1 contract

Samples: Macroshares Major Metro Housing Down Trust Agreement (MacroShares Housing Depositor, LLC)

Payments under the Income Distribution Agreement. (a) On each Distribution Payment Date, in accordance with priority fifth of Section 5.2(a) and the terms of the Income Distribution Agreement, the Trustee shall cause the Up Trust to pay to the Down Trust the Up Income Distribution Payment, from amounts on deposit in the Distribution Account, if any such payment is owed by the Up Trust with respect to the related Distribution Date, as calculated pursuant to Section 4.3(a) hereof. If the Up Trust has no Up Available Income on such Distribution Date, then the Up Trust shall not be required to make any payment under the Income Distribution Agreement on such Distribution Date or on any subsequent date and no interest shall accrue on any such unpaid amounts. (b) On each Distribution Payment Date, Trustee shall deposit any Down Income Distribution Payment received from the Down Trust under the Income Distribution Agreement into the Distribution Account for application in accordance with Section 5.2(a) on such Distribution Payment Date.

Appears in 1 contract

Samples: Macroshares Medical Inflation Up Trust Series 2008 1 Trust Agreement (Macro Inflation Depositor, LLC)

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