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

  • On each distribution date, the Down Trust will declare a distribution on the Down 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.

  • Each shareholder who is a registered holder of Down MacroShares on the “record date,” which is the last business day of March, June, September and December of each year, commencing in June of 2009, will be entitled to receive the quarterly distribution.

  • 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.

  • This quarterly distribution will be made out of the income, if any, that the Down Trust holds on deposit after it has deposited the fee deduction amount for the preceding calculation period into the fee payment account, either made or received the quarterly payment under the income distribution agreement, and acquired treasuries with an aggregate purchase price equal to the aggregate par amount of the outstanding Down MacroShares.

  • 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 or the Depositor, as the case may be, shall be reimbursed by the Down Trust for all expenses incurred by it in so protecting and enforcing its rights and the rights of the Holders of the Down MacroShares hereunder and the Trustee shall have a lien on the Trust Assets securing repayment of such expenses.

  • 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.

  • All approvals, authorizations, consents, orders or other actions of any Person or of any Governmental Authority required in connection with the execution and delivery by the Depositor of this Trust Agreement and the Down MacroShares, the performance by the Depositor of the transactions contemplated by this Trust Agreement and its obligations hereunder and the Down MacroShares and the fulfillment by the Depositor of the terms hereof and thereof have been obtained.

  • 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.

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 means the Class M Notes and MAC Notes of the Xxxxxxx Mac STACR® Debt Notes, Series 2015-HQ1, which may be transferred only on the book-entry system operated by DTC or its successor, or under certain limited circumstances, in registered, certificated form, as provided in the Global Agency Agreement.

  • 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 has the meaning ascribed thereto in Section 2.2.

  • 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 (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.