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Document Preview Confirmation |
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Title: |
Confirmation |
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Entities: |
Macro Securities Depositor, LLC; International Swaps & Derivatives Association, Inc. |
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Date: |
2006 |
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Size: |
Preview shows 4KB of 17KB total |
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Price: |
$37 |
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ID: |
#2391988 |
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Form of Settlement Contract
CONFIRMATION
From: MACRO Securities Depositor, LLC
MACROShares Up Oil Benchmark Holding Trust
To: MACRO Securities Depositor, LLC
MACROShares Down Oil Benchmark Holding Trust
Date: June , 2006
---
Re: Settlement Contracts
--------------------------------------------------------------------------------
Ladies and Gentlemen:
This communication (this "Master Confirmation") is intended to
supplement the terms and conditions of the futures transactions entered into
between us from time to time as set forth below (each a "Settlement Contract").
Each Settlement Contract shall be a "Transaction" under the Agreement described
below.
1. The definitions and provisions contained in the 2000 ISDA Definitions
(the "Definitions"), as published by the International Swaps and Derivatives
Association, Inc., are incorporated into this Master Confirmation. Any
capitalized terms used but not defined herein, in any Supplemental Confirmation
(as described below) or in the Definitions shall have the meanings set forth in
the MACROShares Up Oil Benchmark Holding Trust Agreement (the "Down-MACRO
Holding Trust Agreement") or the MACROShares Down Oil Benchmark Holding
Agreement (the "Up-MACRO Holding Trust Agreement"), each dated as of June ,
2006, among Macro Securities Depositor, LLC, [ ], as Trustee, and [ ], as
Administrative Agent and Marketing Agent.
This Master Confirmation, taken alone, is neither a commitment by
either party to enter into any Transaction nor evidence of a Transaction. The
terms of any particular Transaction shall be set forth in a Supplemental
Confirmation in the form of Schedule A hereto and which references this Master
Confirmation, in which event the terms and provisions of this Master
Confirmation shall be deemed to be incorporated into and made a part of each
such Supplemental Confirmation. This Master Confirmation and each Supplemental
Confirmation together shall constitute a "Confirmation" as referred to in the
Agreement. Any such Confirmation shall supplement, form a part of, and be
subject to, the ISDA Master Agreement (Multicurrency-Cross Border) dated as of
June , 2006, as amended and supplemented from time to time (the "Agreement"),
between the MACROShares Up Oil Benchmark Holding Trust (the "Up-MACRO Holding
Trust") and the MACROShares Down Oil Benchmark Holding Trust (the "Down-MACRO
Holding Trust"). All provisions contained in the Agreement shall govern this
Master Confirmation and the related Supplemental Confirmation relating to a
Settlement Contract except as expressly modified below or in the related
Supplemental Confirmation. With respect to any relevant Settlement Contract, the
Agreement, this Master Confirmation and the related Supplemental Confirmation
shall represent the entire agreement and understanding of the parties with
respect to the subject matter and terms of such Settlement Contract and shall
supersede all prior or contemporaneous written or oral communications with
respect thereto.
If, in relation to any Settlement Contract to which this Master
Confirmation and a related Supplemental Confirmation relate, there is any
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