Fee Deduction Amount definition
Fee Deduction Amount means, for each Calculation Period and each Paired Trust, an amount equal to the sum of, for each day during that Calculation Period, (i) the Down Asset Amount or the Up Asset Amount, as applicable, as of that day multiplied by the Daily Fee Accrual Rate plus (ii) an estimated fixed annual expense amount divided by 365 or 366, depending upon the number of days in the current calendar year or, in the case of any partial period, the number of days during which the Paired Shares are anticipated to be outstanding during that partial period. The fixed annual amount for both the Down Trust and the Up Trust is expected to equal approximately $600,000 per trust, but will be adjusted periodically based upon actual expenses incurred or expected to be incurred by each of the trusts.
Fee Deduction Amount means, for each Calculation Period and each Paired Holding Trust, an amount equal to the sum of, for each day during that Calculation Period, the Up-MACRO Asset Amount or the Down-MACRO Asset Amount, as applicable, as of that day multiplied by a daily fee accrual rate equal to an annual rate of 1.60% for the first two years following the Closing Date and an annual rate of 1.50% thereafter, divided by 365 or 366, depending upon the number of days in the current year.
Fee Deduction Amount means an amount equal to, for each Calculation Period, the sum of, for each day during that Calculation Period, the Up-MACRO Asset Amount as of that day multiplied by an annual rate of 1.60% for the first two years following the initial issuance date of the trusts and an annual rate of 1.50% thereafter, divided by 365 or 366, depending upon the number of days in the current year.
Examples of Fee Deduction Amount in a sentence
The Administrative Agent shall not be liable for the transaction costs incurred in connection with the acquisition of the Eligible Treasuries, which shall be payable out of the Fee Deduction Amount.
The Administrative Agent shall not be liable for the transaction costs incurred in connection with the acquisition of the Eligible Treasuries, which shall be payable out of the Fee Deduction Amount and any Additional Deduction Amount.