Daily Fee Accrual definition

Daily Fee Accrual means, for each day occurring during any Calculation Period for the Down or Up Trust, (1) the Down or Up Asset Amount, as applicable, multiplied by the Daily Fee Accrual Rate on that day plus (2) an estimated fixed annual expense amount divided by 365 or 366, depending upon the number of days in each calendar year or, in the case of partial period, the number of days during which the Paired Shares are anticipated to be outstanding during that partial period. Partial periods consist of (i) 2009, the year of the initial issuance, and (ii) either (x) 2014, the year during which the Final Scheduled Termination Date will occur or (y) any year during which an Early Termination Date occurs on any Distribution Date other than the Distribution Date in December of that year. The sum of the Daily Fee Accruals for the Down Trust or the Up Trust for an entire Calculation Period will be equal to the Fee Deduction Amount for that Calculation Period and that trust. The fixed annual expense amount is expected to equal approximately $600,000, as adjusted periodically based upon actual fees and expenses incurred or expected to be incurred by the Down Trust, including the fees and expenses expected to be incurred or avoided during any partial period.
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Daily Fee Accrual means, for each day occurring during any Calculation Period for the Down or Up Trust, (1) the Down or Up Asset Amount, as applicable, multiplied by the Daily Fee Accrual Rate on that day plus (2) an estimated fixed annual expense amount divided by 365 or 366, depending upon the number of days in the current year. The sum of the Daily Fee Accruals for the Down Trust or the Up Trust for an entire Calculation Period will be equal to the Fee Deduction Amount for that Calculation Period and that trust. The fixed annual expense amount is expected to equal approximately $600,000, as adjusted periodically based upon actual fees and expenses incurred or expected to be incurred by the Down Trust.
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Daily Fee Accrual means, for any date of determination occurring during any Calculation Period for the Up-MACRO or Down-MACRO holding trust, the Up-MACRO or Down-MACRO Asset Amount, as applicable, multiplied by the Daily Fee Accrual Rate on that date. The sum of the Daily Fee Accruals for the Up-MACRO holding trust or the Down-MACRO holding trust for an entire Calculation Period will be equal to the Fee Deduction Amount for that Calculation Period and that trust.
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Examples of Daily Fee Accrual in a sentence

  • On (or as soon as reasonably practicable after) each Business Day, the Portfolio Administrator shall calculate the Daily Fee Accrual in respect of such Business Day and on (or as soon as reasonably practicable after) each Combined Fees Calculation Date, the Portfolio Administrator shall calculate the Combined Fees in respect of the relevant Combined Fees Calculation Period.

  • On (or as soon as reasonably practicable after) each Business Day, the Administrator shall calculate the Daily Fee Accrual in respect of such BusinessDay and on (or as soon as reasonably practicable after) each Combined Fees Calculation Date, the Administrator shall calculate the Combined Fees in respect of the relevant Combined Fees Calculation Period.

  • On (or as soon as reasonably practicable after) each Business Day, the Administrator shall calculate the Daily Fee Accrual in respect of such Business Day and on (or as soon as reasonably practicable after) each Combined Fees Calculation Date, the Administrator shall calculate the Combined Fees in respect of the relevant Combined Fees Calculation Period.

  • In respect of any Series of Bullion Notes, on (or as soon as reasonably practicable after) each Business Day, the Calculation Agent shall calculate the Daily Fee Accrual in respect of such Business Day and on (or as soon as reasonably practicable after) each Combined Fees Calculation Date, the Calculation Agent shall calculate the Combined Fees in respect of the relevant Combined Fees Calculation Period and shall notify the Collateral Manager of such calculations.

  • On (or as soon as reasonably practicable after) eac h Business Day, the Portfolio Administrator shall calculate the Daily Fee Accrual in respect of such Business Day and on (or as soon as reasonably practicable after) each Combined Fees Calculation Date, the Portfolio Administrator shall calculate the Combined Fees in respect of the relevant Combined Fees Calculation Period.


More Definitions of Daily Fee Accrual

Daily Fee Accrual means, on each Business Day an amount of cryptocurrency (rounded to the Rounding Amount) as determined by the Administrator equal to the amount of the Underlying Cryptoassets by which the Per Certificate Entitlement to such Underlying Cryptoassets has reduced since the immediately preceding Business Day multiplied by the number of Certificates outstanding in the Series as at such Business Day;
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Daily Fee Accrual means, on each Business Day:
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Related to Daily Fee Accrual

  • Interest Accrual Period means the period beginning on (and including) the Interest Commencement Date and ending on (but excluding) the first Interest Period Date and each successive period beginning on (and including) an Interest Period Date and ending on (but excluding) the next succeeding Interest Period Date.

  • Compounded Daily €STR means, with respect to any Interest Period, the rate of return of a daily compound interest investment (with the daily euro short-term rate as reference rate for the calculation of interest) as calculated by the Calculation Agent as at the relevant Interest Determination Date in accordance with the following formula (and the resulting percentage will be rounded if necessary to the nearest fifth decimal place, with 0.000005 being rounded upwards):