The holder of the position at the time of Issuance is excluded. For the purposes of this Contract, only a subject who holds the position in a permanent, confirmed, elected, or otherwise non-acting and non-temporary capacity, as formally designated by the body or organization at which the position is held, is treated as formally holding the position; assumption of the role solely in an acting, interim, transitional, provisional, caretaker, pro tempore, or otherwise temporary capacity does not, by itself, satisfy the Payout Criterion. “No new person” resolves Yes only if no new person formally holds the position in a permanent capacity before Jan 20, 2029; in that case every other market resolves No. If the first qualifying permanent holder is not named in this event, every market resolves No.