Down MacroShares definition

Down MacroShares shall have the meaning set forth in the Recitals to this Trust Agreement.
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Down MacroShares has the meaning set forth in the Cover Page.
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Examples of Down MacroShares in a sentence

  • If the amount actually invested on the last Distribution Date was less than the Down Aggregate Par Amount, then the “Down Investment Amount” for each day of the ensuing Calculation Period will equal the amount that was actually invested divided by the number of Down MacroShares outstanding on that Distribution Date, multiplied by the number of Down MacroShares that are outstanding on the date of measurement.

  • The “Down Investment Amount” on any other day occurring during any Calculation Period will equal the aggregate par amount of the Down MacroShares that are outstanding on that day if the amount actually invested on the preceding Distribution Date was equal to the Down Aggregate Par Amount on that day.

  • This Trust Agreement will inure to the benefit of and be binding upon the parties hereto, the Holders of the Up MacroShares, the Holders of the Down MacroShares and their respective successors and permitted assigns.

  • The Trustee shall not, for so long as it acts as Trustee hereunder, acquire any Up MacroShares or Down MacroShares for its own account.

  • Each MacroShares Trust will either be an "Up Trust" which will issue "Up MacroShares" or a "Down Trust" which will issue "Down MacroShares" (together with the Up MacroShares, the "MacroShares").

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

  • The Administrative Agent shall not be under any obligation to appear in, prosecute or defend any legal action which is not incidental to its duties as Administrative Agent in accordance with this Trust Agreement and which in its reasonable judgment may involve it in any expense or liability unless the Administrative Agent has obtained an indemnity from the Holders of the Down MacroShares sufficient to hold it harmless from such liability.

  • All rights of action and claims under this Trust Agreement or the Down MacroShares may be prosecuted and enforced by the Trustee without the possession of any of the Down MacroShares or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee.

  • If the aggregate amount of recognized capital loss to be so allocated to all Holders who have redeemed any Down MacroShares on such day is less than the aggregate excess of all such tax basis accounts over all such amounts received upon redemption, the entire amount of loss for such day shall be allocated among all such Holders in the ratio that each such Holder's excess bears to the aggregate excess of all such Holders who redeemed any of their Down MacroShares on such day.

  • This Trust Agreement will inure to the benefit of and be binding upon the parties hereto, the Holders of the Down MacroShares, the Holders of the Up MacroShares and their respective successors and permitted assigns.

Related to Down MacroShares

  • DTC Notes means Notes cleared, settled and maintained on the DTC System, registered in the name of a nominee of DTC. All of the Notes will be DTC Notes at issuance.

  • Trust Preferred Securities any preferred securities issued by a Trust Preferred Securities Subsidiary, where such preferred securities have the following characteristics:

  • Preferred Security Beneficial Owner means, with respect to a Book Entry Interest, a Person who is the beneficial owner of such Book Entry Interest, as reflected on the books of the Clearing Agency, or on the books of a Person maintaining an account with such Clearing Agency (directly as a Clearing Agency Participant or as an indirect participant, in each case in accordance with the rules of such Clearing Agency).

  • Depositary Shares means the depositary shares, each representing a 1/1,000th interest in one share of the Preferred Stock, evidenced by a Receipt.

  • Book-Entry Preferred Securities Certificates means a beneficial interest in the Preferred Securities Certificates, ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 5.11.

  • Covered Securities means any note, stock, treasury stock, security future, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security (including a certificate of deposit) or on any group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a "security", or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase any of the foregoing.

  • MAC Notes The Classes of Modifiable And Combinable STACR® Notes shown on

  • Trust Securities means the Common Securities and the Capital Securities.

  • Exchangeable Notes The Class M-2A and Class M-2B Notes.

  • Non Book-Entry Preferred Securities shall have the meaning set forth in Section 2.4.

  • Trust Certificates means the asset backed certificates issued pursuant to the Trust Agreement, substantially in the form of Exhibit A to the Trust Agreement.

  • Definitive Trust Certificates shall have the meaning set forth in Section 3.10.

  • Investor Certificates means the Class A Certificates, the Class B Certificates and the Collateral Interest.

  • Capital Security Beneficial Owner means, with respect to a Book Entry Interest, a Person who is the beneficial owner of such Book Entry Interest, as reflected on the books of the Clearing Agency, or on the books of a Person maintaining an account with such Clearing Agency (directly as a Clearing Agency Participant or as an indirect participant, in each case in accordance with the rules of such Clearing Agency).

  • Grantor Trust Certificates Any class of commercial mortgage pass-through certificates issued under this Agreement that is designated as evidencing an interest in the Grantor Trust. The Class S Certificates and the Class VRR Certificates shall be the only Classes of Grantor Trust Certificates issued under this Agreement.

  • Series D Notes is defined in Section 1.

  • The Certificates The Offered Certificates shall be issued as follows:

  • Class B Preferred Shares means class B preferred shares of Pembina;

  • Trust Shares has the meaning ascribed thereto in Section 2.2.

  • Old Notes shall have the meaning set forth in the preamble hereto.

  • Trust Notes As defined in the Introductory Statement.

  • Preferred Securities has the meaning specified in the first recital of this Indenture.

  • Definitive Capital Securities Certificates means either or both (as the context requires) of (i) Capital Securities Certificates issued as Book-Entry Capital Securities Certificates as provided in Section 5.11, and (ii) Capital Securities Certificates issued in certificated, fully registered form as provided in Section 5.13.

  • Offered Securities shall have the meaning specified in Section 5.03(b)(ii)(B).

  • Residual Interest Certificate means any of the Class R-I Certificates, the Class R-II Certificates, the Class R-III Certificates or, if issued in accordance with Section 2.06, the Class R-LR Certificates.

  • NIM Securities As defined in the tenth Recital to this Agreement.