Common use of Up MacroShares Nonassessable and Fully Paid Clause in Contracts

Up MacroShares Nonassessable and Fully Paid. It is the intention of the parties to this Trust Agreement that the Holders of the Up MacroShares shall not be personally liable for obligations of the Up Trust, that the interests in the Up Trust represented by the Up MacroShares shall be nonassessable for any losses or expenses of the Up Trust or for any reason whatsoever and that the Up MacroShares upon authentication thereof by the Trustee pursuant to Section 2.5 are and shall be deemed fully paid.