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

  • 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").

  • Any recovery of judgment shall, after provision for payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Down MacroShares in respect of which such judgment has been obtained.

  • The Administrative Agent shall, if required to do so under the federal securities laws of the United States, deliver at the time of issuance of any Down MacroShares in any manner permitted by such laws, a copy of the Prospectus, as most recently furnished to the Administrative Agent by the Depositor, to each person submitting a Creation Order.

  • On the Distribution Payment Date that follows each Distribution Date, the Trustee shall distribute to each Person who was a Registered Owner of the Down MacroShares as of the Record Date that preceded such Distribution Payment Date the Quarterly Distribution provided for under priority sixth of clause (a) above in cash, for delivery thereof by the Depository to each Person who was a Beneficial Owner of Down MacroShares on such Record Date.

  • No Event of Bankruptcy with respect to the Depositor has occurred which would materially and adversely affect the validity or enforceability of this Trust Agreement or the Down MacroShares.

  • On any Redemption Date on which a Net Par Amount Decrease occurred, Down MacroShares in an amount equal to such Net Par Amount Decrease shall be cancelled by the Trustee, on behalf of the Down Trust, in accordance with the procedures of the Depository.

  • Each co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility for a successor trustee under Section 13.8 and Section 13.9. No notice to Holders of the Down MacroShares of the appointment of any co-trustee or separate trustee shall be required under this Section 13.11; provided, that the Trustee shall provide notice of each such appointment to the Depositor and the Administrative Agent.

  • If the aggregate amount of recognized capital gain to be so allocated to all Holders who have redeemed Down MacroShares on such day is less than the excess of all such amounts received upon redemption over all such tax basis accounts, then items of ordinary income shall be allocated first to all such Holders up to any excess of all such amounts.

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 has the meaning specified in the Recitals.

  • 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.