Redemption of Founders' Shares Sample Clauses

Redemption of Founders' Shares. Concurrently with the first Paired Issuance of Paired Holding Shares in accordance with the terms of this Trust Agreement and the terms of the Down-MACRO Holding Trust Agreement, the portion of the Initial Deposit made into the Up-MACRO Holding Trust by the Depositor and the Administrative Agent shall be transferred to each of them in redemption of their respective Founder's Shares and such Founders' Shares shall thereafter be cancelled and shall not be reissued. At no time shall the Initial Deposit be included in the calculation of the Up-MACRO Asset Amount or any other calculation performed at any time pursuant to Article 4 or Article 8 of this Trust Agreement. The Securities Account and the Eligible Treasuries on deposit therein, from time to time, the Distribution Account, the Fee Payment Account and the Netting Account and all monies and any other assets on deposit from time to time therein, the Up-MACRO Holding Trust's rights under the Master Agreement and related schedule thereto, the Income Distribution Agreement, the Settlement Contracts, the SNIR Service Agreement, the MACRO Licensing Agreement, and the NYMEX Sublicensing Agreement (or any Substitute Reference Price Licensing Agreement), shall collectively constitute the assets of the Up-MACRO Holding Trust (the "Trust Assets").
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Redemption of Founders' Shares. Concurrently with the first issuance of Up-MACRO Tradeable Shares in accordance with the terms of the Up-MACRO Tradeable Trust Agreement, the portion of the Initial Deposit made into the Up-MACRO Tradeable Trust by the Depositor and the Administrative Agent shall be transferred to each of them in redemption of their respective Founder's Shares and such Founders' Shares shall thereafter be cancelled and shall not be reissued. At no time shall the Initial Deposit be included in the calculation of the Per Share Underlying Value of the Up-MACRO Tradeable Shares or any other calculation performed at any time pursuant to Article 4 or Article 8 of this Trust Agreement. The Up-MACRO Holding Shares on deposit from time to time in the Securities Account, all monies on deposit from time to time in the Distribution Account and the Netting Account and the Up-MACRO Holding Trust's rights under the MACRO Licensing Agreement and the NYMEX Sublicensing Agreement (or any Substitute Reference Price Licensing Agreement), shall collectively constitute the assets of the Up-MACRO Tradeable Trust (the "Trust Assets").
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Redemption of Founders' Shares. Concurrently with the first Paired Issuance of Paired Shares in accordance with the terms of this Trust Agreement and the terms of the Up Trust Agreement, the portion of the Initial Deposit made into the Down Trust by the Depositor and the Administrative Agent shall be transferred to each of them in redemption of their respective Founders’ Shares and such Founders' Shares shall thereafter be cancelled and shall not be reissued. At no time shall the Initial Deposit be included in the calculation of the Down Asset Amount or any other calculation performed at any time pursuant to Article 4 or Article 8 of this Trust Agreement. The Securities Account and the Eligible Treasuries on deposit therein from time to time, the Distribution Account, the Fee Payment Account and the Netting Account and all monies and any other assets on deposit from time to time therein, the Down Trust's rights under the Master Agreement, the schedule related thereto and the confirmations thereto constituting the Income Distribution Agreement and the Settlement Contracts, the SNIR Service Agreement, the MacroShares Licensing Agreement, the Standard & Poor's Sublicensing Agreement and the Listing Agency Agreement, shall collectively constitute the assets of the Down Trust (the "Trust Assets").
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Related to Redemption of Founders' Shares

  • Redemption of Units If the underwriters (the “Underwriters”) in the Company’s initial public offering (the “IPO”) do not exercise in full their over-allotment option to be granted by the Company pursuant to an underwriting agreement by and among the Underwriters and the Company, then either (i) the Company shall redeem from Purchaser, at a redemption price equal to $0.01 per Unit, or (ii) the Purchaser shall forfeit, a number of Units equal to 6,000 multiplied by the percentage of the Underwriters’ over-allotment option that remains unexercised as of the expiration date thereof.

  • Redemption of Shares In connection with the Fund's redemption of its Shares, the Fund hereby authorizes the Distributor to repurchase, upon the terms and conditions hereinafter set forth, as the Fund's agent and for the Fund's account, such Shares as may be offered for sale to the Fund from time to time by holders of such Shares or their agents.

  • Redemption of Fund Shares On receipt of instructions to redeem shares in accordance with the terms of the Fund's prospectus, the Transfer Agent will record the redemption of shares of the Fund, prepare and present the necessary report to the Custodian and pay the proceeds of the redemption to the shareholder, an authorized agent or legal representative upon the receipt of the monies from the Custodian.

  • SALE AND REDEMPTION OF SHARES 1. Whenever the Fund shall sell any shares issued by the Fund ("Shares") it shall deliver to Custodian a Certificate or Instructions specifying the amount of money and/or Securities to be received by Custodian for the sale of such Shares and specifically allocated to an Account for such Series.

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