Unallocated Basis definition

Unallocated Basis means, with respect to the holding of gold, that the holder is entitled to receive delivery of Physical Gold in the amount standing to the credit of the holder’s account, but the holder has no ownership interest in any particular gold that the custodian maintaining that account owns or holds.

Unallocated Basis shall have the meaning ascribed to the term in Section 1.1 of the relevant Trust Agreement.

Unallocated Basis means, with respect to a Precious Metal account maintained with us, that the person in whose name the account is held is entitled to delivery in accordance with the Rules of an amount of Precious Metal equal to the amount of Precious Metal standing to the credit of the person’s account but has no ownership interest in any Precious Metal that we own or hold.

Examples of Unallocated Basis in a sentence

• You and we agree nevertheless that you expect to withdraw Bullion physically from your Allocated Account (rather than by crediting it to your Unallocated Account) only in exceptional circumstances, as for example when we are unable to transfer Precious Metal on an Unallocated Basis.

• This document, with the exception of any representations made fraudulently, represents the entire agreement, and supersedes and replaces any previous agreement between us relating to the establishment of a Gold account to be maintained on an Unallocated Basis for you as a Participant in connection with the SPDR® Gold Trust.

• SUCCESSOR, DE MINIMIS , & MISCELLANEOUS RULESSuccessor rules30 are provided for the application of Code §901(m) to subsequent transfers of R.F.A.’s that have an Unallocated Basis Difference.

• For U.S. income tax purposes, Code §901(m) continues to apply to an R.F.A. after it has been transferred if the R.F.A. continues to have an Unallocated Basis Difference following the transfer.De minimis rules are provided under which certain basis differences are not taken into account under Code §901(m).31 A basis difference with respect to an R.F.A. is not taken into account for the purposes of Code §901(m) in two circumstances:• The sum of the basis differences for all R.F.A.’s.

• Unless otherwise agreed to by the Custodian, Silver will be Delivered by the Custodian, at the location designated by the Custodian (or by a sub-custodian designated by the Custodian), in the form of Silver bars only, except that an amount of Silver not exceeding 1100 Ounces may be Delivered by the Custodian on an Unallocated Basis.

More Definitions of Unallocated Basis

Unallocated Basis means, with respect to an Unallocated Account maintained with the Custodian, that the person in whose name the account is held is entitled to delivery in accordance with the Rules of an amount of Bullion equal to the amount of Bullion standing to the credit of the person’s account but is an unsecured creditor in any Bullion that the Custodian owns or holds;

Unallocated Basis means, with respect to the holding of platinum, that the holder is entitled to receive delivery of Physical Platinum in the amount standing to the credit of the holder’s account, but the holder has no ownership interest in any particular platinum that the custodian maintaining that account owns or holds.

Unallocated Basis means, with respect to a Precious Metal account maintained with us, that the person in whose name the account is held is entitled to call on us to deliver in accordance with the Rules an amount of Precious Metal equal to the amount of Precious Metal standing to the credit of the person’s account but has no ownership interest in any Precious Metal that we own or hold.

Unallocated Basis means that the Person in whose name Silver is so held is entitled to receive delivery of Silver standing to the credit of that Person’s account, but that Person has no ownership interest in any particular Silver that the custodian maintaining that account owns or holds.

Unallocated Basis means, with respect to Precious Metal credited to an account, that the person in whose name the account is held is (i), in the case of a positive balance, entitled to delivery in accordance with the Rules of an amount of Precious Metal equal to the amount of Precious Metal standing to the credit of the person’s account or (ii), in the case of a negative balance, obligated to deliver in accordance with the Rules an amount of Precious Metal equal to the amount of Precious Metal standing to the debit of the person’s account. Such person has no ownership interest in any specific Precious Metal that we own or hold.

Unallocated Basis means, with respect to a Metal Account maintained with us, that the person in whose name the account is held is entitled to delivery in accordance with the Rules of an amount of Metal equal to the amount of Metal standing to the credit of the person’s account but is an unsecured creditor in any Metal that the Custodian owns or holds.

Unallocated Basis means that the Person in whose name Palladium is so held is entitled to receive delivery of Palladium standing to the credit of that Person’s account, but that Person has no ownership interest in any particular Palladium that the custodian maintaining that account owns or holds.