Examples of Paired Holding Shares in a sentence
Concurrently with the first Paired Issuance of Paired Holding Shares, the Founders' Shares shall be cancelled and shall not thereafter be reissued.
The Administrative Agent shall make commercially reasonable efforts to maintain a sufficient number of Paired Holding Shares registered pursuant to the Securities Act available for the fulfillment of Creation Orders as they are received.
The Authorized Participant directing the Paired Optional Redemption must be the Beneficial Owner of the Paired Holding Shares or the Up-MACRO and Down-MACRO Tradeable Shares which are being tendered for redemption, as shown on the records of the Depository.
Concurrently with the first Paired Issuance of Paired Holding Shares in accordance with the terms of this Trust Agreement and the terms of the UP-MACRO Holding Trust Agreement, the portion of the Initial Deposit made into the Down-MACRO Holding Trust by the Depositor and the Administrative Agent shall be transferred to each of them in redemption of their respective Founder's Shares and such Founders' Shares shall thereafter be cancelled and shall not be reissued.
The Authorized Participant directing the Paired Optional Redemption must be the Beneficial Owner of the Paired Holding Shares or the Down-MACRO and Up-MACRO Tradeable Shares which are being tendered for redemption, as shown on the records of the Depository.
Concurrently with the first Paired Issuance of Paired Holding Shares in accordance with the terms of this Trust Agreement and the terms of the Down-MACRO Holding Trust Agreement, the portion of the Initial Deposit made into the Up-MACRO Holding Trust by the Depositor and the Administrative Agent shall be transferred to each of them in redemption of their respective Founder's Shares and such Founders' Shares shall thereafter be cancelled and shall not be reissued.
The Paired Holding Shares may be created only in pairs of 50,000 Up-MACRO Holding Shares and 50,000 Down-MACRO Holding Shares (each such pair, a "MACRO Unit").
In accordance with this Participants Agreement, the Trustee, acting together with the Administrative Agent on behalf of the Paired Holding Trusts, may create or redeem Paired Holding Shares in units of 50,000 Up-MACRO Holding Shares and 50,000 Down-MACRO Holding Shares (such pairs, a "MACRO Unit") at the instructions of an Authorized Participant and in accordance with the procedures set forth herein.
The Paired Holding Shares may be created solely by the parties listed on Schedule I attached to the Participants Agreement (each, an "Authorized Participant").
In exchange for a deposit of Paired Holding Shares constituting one or more MACRO Units, an Authorized Participant may redeem one or more MACRO Units for cash and/or Eligible Treasuries (as defined in the applicable Holding Trust Agreement) as further described herein.