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.

  • 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").

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

  • 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.

  • Following the settlement of the Settlement Contracts on the Early Termination Date, the Trustee shall then make a Final Distribution on all Outstanding Down MacroShares, as set forth in Section 5.2. Upon receipt of this Final Distribution, all Outstanding Down MacroShares shall be deemed to be redeemed in full.

  • 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.

  • Beneficial Owners are expected to receive from or through the broker or bank that maintains the account through which the Beneficial Owner has purchased Down MacroShares a written confirmation relating to their purchase of Down MacroShares.

  • The Marketing Agent is duly qualified to do business and is in good standing as a foreign corporation (or is exempt from such requirements), and has obtained all necessary licenses and approvals in each jurisdiction in which failure to so qualify or to obtain such licenses and approvals would have a material adverse effect on the interests of the Holders of the Down MacroShares hereunder.

  • The Depository may discontinue providing its services with respect to the Down MacroShares by giving notice to the Trustee, the Administrative Agent and the Depositor pursuant to and in conformity with the provisions of the Depository Agreement and discharging its responsibilities with respect thereto under applicable law.

Related to Down MacroShares

  • DTC Notes means the Notes cleared, settled and maintained on the DTC System, registered in the name of a nominee of DTC and substantially in the form of Exhibit B hereto. 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 Depositary Shares, each representing 1/1,000 of a share of Stock and 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.

  • Redemption Securities means any debt or equity securities of the Corporation, any Subsidiary or any other corporation or other entity, or any combination thereof, having such terms and conditions as shall be approved by the Board of Directors and which, together with any cash to be paid as part of the redemption price, in the opinion of any nationally recognized investment banking firm selected by the Board of Directors (which may be a firm which provides other investment banking, brokerage or other services to the Corporation), has a value, at the time notice of redemption is given pursuant to paragraph (d) of this Section 5, at least equal to the Fair Market Value of the shares to be redeemed pursuant to this Section 5 (assuming, in the case of Redemption Securities to be publicly traded, such Redemption Securities were fully distributed and subject only to normal trading activity).

  • 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:

  • Trust Shares means the common shares of beneficial interest in the Trust, par value $.01 per share, or any shares of beneficial interest in the Trust into which such common shares may be changed.

  • Conversion Securities has the meaning set forth in Section 4.08(b).

  • 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 (a) Capital Securities Certificates issued as Book-Entry Capital Securities Certificates as provided in Section 5.11(a) and (b) Capital Securities Certificates issued in certificated, fully registered form as provided in Section 5.13.

  • Offered Securities has the meaning set forth in Section 3.1(a).

  • 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.