Class Value and Class Value per Share Sample Clauses

Class Value and Class Value per Share. (a) The Class Value of each Class of each Initial Fund shall be calculated by the Sponsor or the Custodian for the Fund appointed pursuant to Section 10.1 hereof by determining the value of the Eligible Assets held by such Fund attributable to such Class pursuant to such Class’ Participation Factor. Changes in the Class Value of each Class shall be based on changes in the Fund’s Underlying Index and Net Investment Income and, in the case of the AccuShares Spot CBOE VIX Fund, the VIX Fund Daily Amount, and limited by the Class Value per Share Limitation. The Class Value per Share of each Share of a Fund will be calculated by the Sponsor or the Custodian for the Fund appointed pursuant to Section 10.1 hereof by taking its Class’ Class Value and dividing it by the number of Shares of such Class outstanding at the time of determination. Class Values and Class Values per Share for each Initial Fund shall be disseminated in such manner and at such time as the Sponsor shall determine in its sole and absolute discretion. (b) The Class Value per Share of each Class of each Initial Fund, as calculated pursuant to Section 4.4(a) hereof, shall be in accordance with the following formulas: (i) The Class Value per Share for the Up Shares of each Initial Fund, other than the AccuShares Spot CBOE VIX Fund, at any time is determined as follows: UPt = UPt-1 + UPSIFt x (UILt – UILt-1) + UPNIAt (ii) The Class Value per Share for the AccuShares Spot CBOE VIX Up Shares will be determined at any time as follows: UPt = UPt-1 + UPSIFt x (UILt – UILt-1) + UPNIAt – DAt (iii) The Class Value per Share for the Down Shares of each Initial Fund, other than the AccuShares Spot CBOE VIX Fund, at any time is determined as follows: DNt = DNt-1 + DNSIFt x (UILt – UILt-1) + DNNIAt (iv) The Class Value per Share for the AccuShares Spot CBOE VIX Down Shares at any time is determined as follows: DNt = DNt-1 + DNSIFt x (UILt – UILt-1) + DNNIAt+ DAt For purposes of clauses (i) through (iv) above, for any single Measuring Period, UILt is subject to (i) a maximum value equal to the product of 1.9 and UILt-1, and (ii) a minimum value equal to the product of 0.1 and UILt-1. (c) On a Distribution Date, immediately following the determination of the amount of the Regular Distribution, Special Distribution or Corrective Distribution to be made to the Shares of an Initial Fund and the resetting of such Fund’s Share Index Factors in accordance with Section 4.7(b) hereof, the Class Values per Share for the ...