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

  • In accordance with this Participants Agreement, the applicable Trustee, acting together with the Administrative Agent on behalf of the applicable Paired Trusts, may create or redeem the applicable Paired MacroShares in units of 50,000 Up MacroShares and 50,000 Down MacroShares (each such unit, a "MacroShares Unit") at the instructions of the applicable Authorized Participant and in accordance with the applicable procedures set forth herein.

  • Each related Up MacroShares Trust and Down MacroShares Trust are together referred to herein as the "Paired Trusts".

  • The Agreement provides for the issuance of additional Shares from time to time as part of one or more units which constitutes 50,000 Shares and 50,000 MacroShares $[100] Oil Down Shares (the "Down MacroShares"), which represent a fractional undivided interest in the MacroShares $[100] Oil Down Trust (the "Paired Trust") or integral thereof.

  • The Up MacroShares and Down MacroShares issued by a set of Paired Trusts are referred to herein as the "Paired 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").

  • 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.

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 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 the depositary shares, each representing 1/40th of a share of the 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-2A and Class M-2B Notes of the Xxxxxxx Mac STACR® Debt Notes, Series 2018-DNA1, 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.

  • 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.