A.16.1- The ability is written "Fading X". [CompRules 2001/07/23 - 502.20a]
A.16.2- The ability means "This permanent comes into play with X fade counters on it. ; At the beginning of your upkeep, remove a fade counter from this permanent. If you can't, sacrifice the permanent.". [CompRules 2001/07/23 - 502.20a]
Note- Some cards with Fading do not have the reminder text, but they still have the same ability. [Nemesis FAQ 2000/02/07]