Common use of Book Entry Only System Global Security Clause in Contracts

Book Entry Only System Global Security. (a) The Sponsor and the Trustee will enter into the Depository Agreement pursuant to which the Depository will act as securities depository for Equity Gold Shares. Equity Gold Shares will be represented by a single Global Security, which will be registered, as the Depository shall direct, in the name of Cede & Co., as nominee for the Depository and deposited with, or on behalf of, the Depository. No other certificates evidencing Equity Gold Shares will be issued. The Global Security shall be in the form attached hereto as Exhibit D and shall represent such Equity Gold Shares as shall be specified therein, and may provide that it shall represent the aggregate amount of outstanding Equity Gold Shares from time to time endorsed thereon and that the aggregate amount of outstanding Equity Gold Shares represented thereby may from time to time be increased or reduced to reflect deposits or redemptions. Any endorsement of a Global Security to reflect the amount, or any increase or decrease in the amount, of outstanding Equity Gold Shares represented thereby shall be made in such manner and upon instructions given by the Trustee as specified in the Depository Agreement. (b) Any Global Security issued to The Depository Trust Company or its nominee shall bear a legend substantially to the following effect: "Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation ("DTC"), to the Trustee or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is required by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein." (c) The Depository has advised the Sponsor and the Trustee as follows: The Depository is a limited-purpose trust company organized under the laws of the State of New York, a member of the Federal Reserve System, a "clearing corporation" within the meaning of the New York Uniform Commercial Code, and a "clearing agency" registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended. The Depository was created to hold securities of its participants (the "DTC Participants") and to facilitate the clearance and settlement of securities transactions among the DTC Participants in such securities through electronic book-entry changes in accounts of the DTC Participants, thereby eliminating the need for physical movement of securities certificates. DTC Participants include securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations, some of whom (and/or their representatives) own the Depository. Access to the Depository's system is also available to others such as banks, brokers, dealers and trust companies that clear through or maintain a custodial relationship with a DTC Participant, either directly or indirectly ("Indirect Participants"). The Depository agrees with and represents to the DTC Participants that it will administer its book-entry system in accordance with its rules and by-laws and requirements of law. (d) As provided in the Depository Agreement, upon the settlement date of any creation, transfer or redemption of Equity Gold Shares, the Depository will credit or debit, on its book-entry registration and transfer system, the amount of Equity Gold Shares so created, transferred or redeemed to the accounts of the appropriate DTC Participants. The accounts to be credited and charged shall be designated by the Trustee and each Participant, in the case of a creation or redemption. Ownership of beneficial interest in Equity Gold Shares will be limited to DTC Participants, Indirect Participants and persons holding interests through DTC Participants and Indirect Participants. Owners of beneficial interests in Equity Gold Shares ("Beneficial Owners") will be shown on, and the transfer of beneficial ownership by Beneficial Owners will be effected only through, in the case of DTC Participants, records maintained by the Depository and, in the case of Indirect Participants and Beneficial Owners holding through a DTC Participant or an Indirect Participant, through those records or the records of the relevant DTC Participants. Beneficial Owners are expected to receive from or through the broker or bank that maintains the account through which the Beneficial Owner has purchased Equity Gold Shares a written confirmation relating to their purchase of Equity Gold Shares. (e) So long as Cede & Co., as nominee of the Depository, is the registered owner of Equity Gold Shares, references herein to the registered or record owners of Equity Gold Shares shall mean Cede & Co. and shall not mean the Beneficial Owners of Equity Gold Shares. Beneficial Owners of Equity Gold Shares will not be entitled to have Equity Gold Shares registered in their names, will not receive or be entitled to receive physical delivery of certificates in definitive form and will not be considered the record or registered holder of Equity Gold Shares under this Agreement. Accordingly, to exercise any rights of a holder of Equity Gold Shares under the Agreement, a Beneficial Owner must rely on the procedures of the Depository and, if such Beneficial Owner is not a DTC Participant, on the procedures of each DTC Participant or Indirect Participant through which such Beneficial Owner holds its interests. The Trustee and the Sponsor understand that under existing industry practice, if the Trustee requests any action of a Beneficial Owner, or a Beneficial Owner desires to take any action that the Depository, as the record owner of all outstanding Equity Gold Shares, is entitled to take, in the case of a Trustee request, the Depository will notify the DTC Participants regarding such request, such DTC Participants will in turn notify each Indirect Participant holding Equity Gold Shares through it, with each successive Indirect Participant continuing to notify each person holding Equity Gold Shares through it until the request has reached the Beneficial Owner, and in the case of a request or authorization to act being sought or given by a Beneficial Owner, such request or authorization is given by the Beneficial Owner and relayed back to the Trustee through each Indirect Participant and DTC Participant through which the Beneficial Owner's interest in the Equity Gold Shares is held. (f) As described above, the Trustee will recognize the Depository or its nominee as the owner of all Equity Gold Shares for all purposes except as expressly set forth in this Agreement. Conveyance of all notices, statements and other communications to Beneficial Owners will be effected as follows. Pursuant to the Depository Agreement, the Depository is required to make available to the Trustee upon request and for a fee to be charged to the Trust a listing of the Equity Gold Share holdings of each DTC Participant. The Trustee shall inquire of each such DTC Participant as to the number of Beneficial Owners holding Equity Gold Shares, directly or indirectly, through such DTC Participant. The Trustee shall provide each such DTC Participant with sufficient copies of such notice, statement or other communication, in such form, number and at such place as such DTC Participant may reasonably request, in order that such notice, statement or communication may be transmitted by such DTC Participant, directly or indirectly, to such Beneficial Owners. In addition, the Trust shall pay to each such DTC Participant an amount as reimbursement for the expenses attendant to such transmittal, all subject to applicable statutory and regulatory requirements. (g) Distributions on Equity Gold Shares pursuant to Section 3.05(d) shall be made to the Depository or its nominee, Cede & Co., as the registered owner of all Equity Gold Shares. The Trustee and the Sponsor expect that the Depository or its nominee, upon receipt of any payment of distributions in respect of Equity Gold Shares, shall credit immediately DTC Participants' accounts with payments in amounts proportionate to their respective beneficial interests in Equity Gold Shares as shown on the records of the Depository or its nominee. The Trustee and the Sponsor also expect that payments by DTC Participants to Indirect Participants and Beneficial Owners held through such DTC Participants and Indirect Participants will be governed by standing instructions and customary practices, as is now the case with securities held for the accounts of customers in bearer form or registered in a "street name," and will be the responsibility of such DTC Participants and Indirect Participants. Neither the Trustee nor the Sponsor will have any responsibility or liability for any aspects of the records relating to or notices to Beneficial Owners, or payments made on account of beneficial ownership interests in Equity Gold Shares, or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests or for any other aspect of the relationship between the Depository and the DTC Participants or the relationship between such DTC Participants and the Indirect Participants and Beneficial Owners owning through such DTC Participants or Indirect Participants or between or among the Depository, any Beneficial Owner and any person by or through which such Beneficial Owner is considered to own Equity Gold Shares.

Book Entry Only System Global Security. (a) The Sponsor Trust and the Trustee Sponsor will enter into the a Depository Agreement pursuant to which the Depository will act as securities depository for Equity Gold SharesShares of each applicable Fund. Equity Gold Shares will be represented by a single Global SecuritySecurity (which may consist of one or more certificates as required by the Depository), which will be registered, as the Depository shall direct, in the name of Cede & Co., as nominee for the Depository and deposited with, or on behalf of, the Depository. No other certificates evidencing Equity Gold Shares will be issued. The Global Security shall be in the form attached hereto as Exhibit D and shall represent such Equity Gold Shares as shall be specified therein, and may provide that it shall represent the aggregate amount of outstanding Equity Gold Shares from time to time endorsed thereon and that the aggregate amount of outstanding Equity Gold Shares represented thereby may from time to time be increased or reduced to reflect deposits or redemptionsredemptions of Baskets. Any endorsement of a Global Security to reflect the amount, or any increase or decrease in the amount, of outstanding Equity Gold Shares represented thereby shall be made in such manner and upon instructions given by the Trustee as specified in the Depository Agreement. (b) Any Global Security issued to The Depository Trust Company or its nominee shall bear a legend substantially to the following effect: "“Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation ("“DTC"”), to the Trustee or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is required by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein."” (c) The Depository has advised the Sponsor Trust and the Trustee Sponsor as follows: The Depository is a limited-purpose trust company organized under the laws of the State of New York, a member of the Federal Reserve System, a "“clearing corporation" ” within the meaning of the New York Uniform Commercial Code, and a "“clearing agency" ” registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended. The Depository was created to hold securities of its participants (the "“DTC Participants"”) and to facilitate the clearance and settlement of securities transactions among the DTC Participants in such securities through electronic book-entry changes in accounts of the DTC Participants, thereby eliminating the need for physical movement of securities certificates. DTC Participants include securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations, some of whom (and/or their representatives) own the Depository. Access to the Depository's ’s system is also available to others such as banks, brokers, dealers and trust companies that clear through or maintain a custodial relationship with a DTC Participant, either directly or indirectly ("“Indirect Participants"”). The Depository agrees with and represents to the DTC Participants that it will administer its book-entry system in accordance with its rules and by-laws and requirements of law. (d) As provided in the Depository Agreement, upon the settlement date of any creation, transfer or redemption of Equity Gold SharesShares of a Fund, the Depository will credit or debit, on its book-entry registration and transfer system, the amount of Equity Gold Shares of such Fund so created, transferred or redeemed to the accounts of the appropriate DTC Participants. The accounts to be credited and charged shall be designated by the Trustee Sponsor and each Participant, in the case of a creation or redemptionredemption of Baskets. Ownership of beneficial interest in Equity Gold Shares will be limited to DTC Participants, Indirect Participants and persons holding interests through DTC Participants and Indirect Participants. Owners of beneficial interests in Equity Gold Shares ("Beneficial Owners") Unitholders will be shown on, and the transfer of beneficial ownership Unitholdership by Beneficial Owners Unitholders will be effected only through, in the case of DTC Participants, records maintained by the Depository and, in the case of Indirect Participants and Beneficial Owners Unitholders holding through a DTC Participant or an Indirect Participant, through those records or the records of the relevant DTC Participants. Beneficial Owners Unitholders are expected to receive from or through the broker or bank that maintains the account through which the Beneficial Owner Unitholder has purchased Equity Gold Shares a written confirmation relating to their purchase of Equity Gold Shares. (e) So long as Cede & Co., as nominee of the Depository, is the registered owner of Equity Gold Shares, references herein to the registered or record owners of Equity Gold Shares shall mean Cede & Co. and shall not mean the Beneficial Owners Unitholders of Equity Gold Shares. Beneficial Owners Unitholders of Equity Gold Shares will not be entitled to have Equity Gold Shares registered in their names, will not receive or be entitled to receive physical delivery of certificates in definitive form and will not be considered the record or registered holder of Equity Gold Shares under this AgreementDeclaration of Trust. Accordingly, to exercise any rights of a holder of Equity Gold Shares under the Agreement, a Beneficial Owner Unitholder must rely on the procedures of the Depository and, if such Beneficial Owner Unitholder is not a DTC Participant, on the procedures of each DTC Participant or Indirect Participant through which such Beneficial Owner Unitholder holds its interests. The Trustee Trust and the Sponsor understand that under existing industry practice, if the Trustee Trust or the Sponsor requests any action of a Beneficial OwnerUnitholder, or a Beneficial Owner Unitholder desires to take any action that the Depository, as the record owner of all outstanding Equity Gold Shares, is entitled to take, in the case of a Trustee request, the Depository will notify the DTC Participants regarding such request, such DTC Participants will in turn notify each Indirect Participant holding Equity Gold Shares through it, with each successive Indirect Participant continuing to notify each person holding Equity Gold Shares through it until the request has reached the Beneficial OwnerUnitholder, and in the case of a request or authorization to act being sought or given by a Beneficial OwnerUnitholder, such request or authorization is given by the Beneficial Owner Unitholder and relayed back to the Trustee through each Indirect Participant and DTC Participant through which the Beneficial Owner's Unitholder’s interest in the Equity Gold Shares is held. (f) As described above, the Trustee Trust and the Funds will recognize the Depository or its nominee as the owner of all Equity Gold Shares for all purposes except as expressly set forth in this AgreementDeclaration of Trust. Conveyance of all notices, statements and other communications to Beneficial Owners Unitholders will be effected as follows. Pursuant to the Depository Agreement, the Depository is required to make available to the Trustee Trust upon request and for a fee to be charged to the Trust a listing of the Equity Gold Share holdings of each DTC Participant. The Trustee Trust shall inquire of each such DTC Participant as to the number of Beneficial Owners Unitholders holding Equity Gold Shares, directly or indirectly, through such DTC Participant. The Trustee Trust shall provide each such DTC Participant with sufficient copies of such notice, statement or other communication, in such form, number and at such place as such DTC Participant may reasonably request, in order that such notice, statement or communication may be transmitted by such DTC Participant, directly or indirectly, to such Beneficial OwnersUnitholders. In addition, the Trust Sponsor or the Trust, as provided by Sections 3.05(a) and (b), shall pay to each such DTC Participant an amount as reimbursement for the expenses attendant to such transmittal, all subject to applicable statutory and regulatory requirements. (g) Distributions on Equity Gold Shares pursuant to Section 3.05(d) shall be made to the Depository or its nominee, Cede & Co., as the registered owner of all Equity Gold SharesShares of each Fund. The Trustee and the Sponsor expect that the Depository or its nominee, upon receipt of any payment of distributions in respect of Equity Gold Shares, shall credit immediately DTC Participants' ’ accounts with payments in amounts proportionate to their respective beneficial interests in Equity Gold Shares as shown on the records of the Depository or its nominee. The Trustee Trust and the Sponsor also expect that payments by DTC Participants to Indirect Participants and Beneficial Owners Unitholders held through such DTC Participants and Indirect Participants will be governed by standing instructions and customary practices, as is now the case with securities held for the accounts of customers in bearer form or registered in a "“street name," ” and will be the responsibility of such DTC Participants and Indirect Participants. Neither the Trustee Trust nor the Sponsor will have any responsibility or liability for any aspects of the records relating to or notices to Beneficial OwnersUnitholders, or payments made on account of beneficial ownership interests in Equity Gold Shares, or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests or for any other aspect of the relationship between the Depository and the DTC Participants or the relationship between such DTC Participants and the Indirect Participants and Beneficial Owners Unitholders owning through such DTC Participants or Indirect Participants or between or among the Depository, any Beneficial Owner Unitholder and any person by or through which such Beneficial Owner Unitholder is considered to own Equity Gold Shares. (h) Unitholders that are not DTC Participants may transfer Shares by instructing the DTC Participant or Indirect Participant holding the Shares for such Unitholder in accordance with standard securities industry practice. Unitholders that are DTC Participants may transfer Shares by instructing the Depository in accordance with the rules of the Depository and standard securities industry practice.

Book Entry Only System Global Security. (a) The Sponsor and the Trustee will enter into the Depository Agreement pursuant to which the --------------------------------------- Depository will act as securities depository for Equity Gold SharesDIAMONDS. Equity Gold Shares DIAMONDS will be represented by a single Global Security, which will be registered, as the Depository shall direct, registered in the name of Cede & Co., as nominee for the Depository and deposited with, or on behalf of, the Depository. No other certificates evidencing Equity Gold Shares Certificates will not be issuedissued for DIAMONDS. The Global Security shall either be (1) in the form attached hereto as Exhibit D and B or (2) in a form substantially similar to the form in Exhibit C that shall represent such Equity Gold Shares DIAMONDS as shall be specified therein, therein and may provide that it shall represent the aggregate amount of outstanding Equity Gold Shares DIAMONDS from time to time endorsed thereon and that the aggregate amount of outstanding Equity Gold Shares DIAMONDS represented thereby may from time to time be reduced or increased or reduced to reflect deposits or redemptionsexchanges. Any endorsement of a Global Security to reflect the amount, or any increase or decrease in the amount, of outstanding Equity Gold Shares DIAMONDS represented thereby shall be made in such manner and upon instructions given by the Trustee as specified in the Depository Agreement. (b) Any The Trustee shall authenticate and deliver one or more Global Securities that (i) shall represent and shall be denominated in an aggregate amount equal to the aggregate principal amount of the outstanding DIAMONDS to be represented by one or more Global Securities, (ii) shall be registered in the name of the Depository for such Global Security issued or Global Securities or the nominee of such Depository, (iii) shall be delivered by the Trustee to The such Depository Trust Company or its nominee pursuant to such Depository's instruction, and (iv) shall bear a legend substantially to the following effect: "Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation ("DTC"), to the Trustee Issuer or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is required by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein." (c) The Depository has advised the Sponsor and the Trustee as follows: The Depository is a limited-purpose trust company organized under the laws of the State of New York, a member of the Federal Reserve System, a "clearing corporation" within the meaning of the New York Uniform Commercial Code, and a "clearing agency" registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended. The Depository was created to hold securities of its participants (the "DTC Participants") and to facilitate the clearance and settlement of securities transactions among the DTC Participants in such securities through electronic book-entry changes in accounts of the DTC Participants, thereby eliminating the need for physical movement of securities certificates. DTC Participants include securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations, some of whom (and/or their representatives) own the Depository. Depository./*/ Access to the Depository's Depository system is also available to others such as banks, brokers, dealers and trust companies that clear through or maintain a custodial relationship with a DTC Participant, either directly or indirectly (the "Indirect indirect Participants"). The Depository agrees with and represents to the DTC Participants its participants that it will administer its book-entry system in accordance with its rules and by-laws and requirements of law. (d) As provided in the Depository Agreement, upon Upon the settlement date of any creation, transfer or redemption of Equity Gold SharesDIAMONDS, the Depository will credit or debit, on its book-entry registration and transfer --------------- /*/ As of December 31, 1997, the Exchange owned 4.68347 of the issued and outstanding shares of common stock of the Depository and an affiliate of the Exchange, AMEX Clearing Corp., owned 0.00188 of the issued and outstanding shares of common stock of the Depository and the Trustee owned 4.35685% of the issued and outstanding shares of common stock of the Depository. system, the amount of Equity Gold Shares DIAMONDS so created, transferred or redeemed to the accounts of the appropriate DTC Participants. The accounts to be credited and charged shall be designated by the Trustee to NSCC, in the case of a creation or redemption through the DIAMONDS Clearing Process, or by the Trustee and each the DTC Participant, in the case of a creation or redemptionredemption transacted outside of the DIAMONDS Clearing Process. Ownership Beneficial ownership of beneficial interest in Equity Gold Shares DIAMONDS will be limited to DTC Participants, Indirect indirect Participants and persons holding interests through DTC Participants and Indirect indirect Participants. Owners Ownership of beneficial interests in Equity Gold Shares DIAMONDS (owners of such beneficial interests are referred to herein as "Beneficial Owners") will be shown on, and the transfer of beneficial ownership by Beneficial Owners will be effected only through, in the case of DTC Participants, records maintained by the Depository and, in (with respect to DTC Participants) and on the case records of Indirect DTC Participants (with respect to indirect Participants and Beneficial Owners holding through a that are not DTC Participant Participants or an Indirect Participant, through those records or the records of the relevant DTC indirect Participants). Beneficial Owners are expected to receive from or through the broker or bank that maintains the account through which the Beneficial Owner has purchased Equity Gold Shares DTC Participant a written confirmation relating to their purchase of Equity Gold SharesDIAMONDS. (e) So long as Cede & Co., as nominee of the Depository, is the registered owner of Equity Gold SharesDIAMONDS, references herein to the registered or record owners of Equity Gold Shares DIAMONDS shall mean Cede & Co. and shall not mean the Beneficial Owners of Equity Gold SharesDIAMONDS. Beneficial Owners of Equity Gold Shares DIAMONDS will not be entitled to have Equity Gold Shares DIAMONDS registered in their names, will not receive or be entitled to receive physical delivery of certificates in definitive form and will not be considered the record or registered holder of Equity Gold Shares thereof under this the Trust Agreement. Accordingly, to exercise any rights of a holder of Equity Gold Shares under the Agreement, a each Beneficial Owner must rely on the procedures of the DTC Participant or Depository and, if such Beneficial Owner is not a DTC Participant, on the procedures of each DTC Participant or Indirect the 50 indirect Participant through which such Beneficial Owner holds its interests, to exercise any rights of a holder of DIAMONDS under the Trust Agreement. The Trustee and the Sponsor understand that under existing industry practice, if in the event the Trustee requests any action of a Beneficial OwnerDIAMONDS holders, or a Beneficial Owner desires to take any action that the Depository, as the record owner of all outstanding Equity Gold SharesDIAMONDS, is entitled to take, in the case of a Trustee request, the Depository will notify would authorize the DTC Participants regarding to take such request, action and that the DTC Participants would authorize the indirect Participants and Beneficial Owners acting through such DTC Participants will in turn notify each Indirect Participant holding Equity Gold Shares to take such action or would otherwise act upon the instructions of Beneficial Owners owning through it, with each successive Indirect Participant continuing to notify each person holding Equity Gold Shares through it until the request has reached the Beneficial Owner, and in the case of a request or authorization to act being sought or given by a Beneficial Owner, such request or authorization is given by the Beneficial Owner and relayed back to the Trustee through each Indirect Participant and DTC Participant through which the Beneficial Owner's interest in the Equity Gold Shares is heldthem. (f) As described above, the Trustee will recognize the Depository or its nominee as the owner of all Equity Gold Shares DIAMONDS for all purposes except as expressly set forth in this Agreement. Conveyance of all notices, statements and other communications to Beneficial Owners will be effected as follows. Pursuant to the Depository Agreement, the Depository is required to make available to the Trustee upon request and for a fee to be charged to the Trust a listing of the Equity Gold Share DIAMONDS Unit holdings of each DTC Participant. The Trustee shall inquire of each such DTC Participant as to the number of Beneficial Owners holding Equity Gold SharesDIAMONDS, directly or indirectly, through such DTC Participant. The Trustee shall provide each such DTC Participant with sufficient copies of such notice, statement or other communication, in such form, number and at such place as such DTC Participant may reasonably request, in order that such notice, statement or communication may be transmitted by such DTC Participant, directly or indirectly, to such Beneficial Owners. In addition, the Trust shall pay to each such DTC Participant an amount as reimbursement for the expenses attendant to such transmittal, all subject to applicable statutory and regulatory requirements. (g) Distributions on Equity Gold Shares pursuant to Section 3.05(d) DIAMONDS Unit distributions shall be made to the Depository or its nominee, Cede & Co., as the registered owner of all Equity Gold SharesDIAMONDS. The Trustee and the Sponsor expect that the Depository or its nominee, upon receipt of any payment of distributions in respect of Equity Gold SharesDIAMONDS, shall credit immediately DTC Participants' accounts with payments in amounts proportionate to their respective beneficial interests in Equity Gold Shares DIAMONDS as shown on the records of the Depository or its nominee. The Trustee and the Sponsor also expect that payments by DTC Participants to Indirect indirect Participants and Beneficial Owners of DIAMONDS held through such DTC Participants and Indirect Participants will be governed by standing instructions and customary practices, as is now the case with securities held for the accounts of customers in bearer form or registered in a "street name," and will be the responsibility of such DTC Participants and Indirect Participants. Neither the Trustee nor the Sponsor will have any responsibility or liability for any aspects of the records relating to or notices to Beneficial Owners, or payments made on account of beneficial ownership interests in Equity Gold SharesDIAMONDS, or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests or for any other aspect of the relationship between the Depository and the DTC Participants or the relationship between such DTC Participants and the Indirect indirect Participants and Beneficial Owners owning through such DTC Participants or Indirect Participants or between or among Participants. (h) The Depository may determine to discontinue providing its services with respect to DIAMONDS at any time by giving notice to the DepositoryTrustee and the Sponsor and discharging its responsibilities with respect thereto under applicable law. Under such circumstances, any Beneficial Owner the Trustee and any person by or through which the Sponsor shall take action either to find a replacement for the Depository to perform its functions at a comparable cost or, if such Beneficial Owner a replacement is considered unavailable, to own Equity Gold Sharesterminate the Trust as provided in Article IX.

Book Entry Only System Global Security. (a) The Sponsor and the Trustee will enter into the Depository Agreement pursuant to which the Depository will act as securities depository for Equity Gold Shares. Equity Gold Shares will be represented by a single Global Security, which will be registered, as the Depository shall direct, in the name of Cede & Co., as nominee for the Depository and deposited with, or on behalf of, the Depository. No other certificates evidencing Certificates will not be issued for Equity Gold Shares will be issuedShares. The Global Security shall be in the form attached hereto as Exhibit D and shall represent such Equity Gold Shares as shall be specified therein, and may provide that it shall represent the aggregate amount of outstanding Equity Gold Shares from time to time endorsed thereon and that the aggregate amount of outstanding Equity Gold Shares represented thereby may from time to time be increased or reduced to reflect deposits or redemptions. Any endorsement of a Global Security to reflect the amount, or any increase or decrease in the amount, of outstanding Equity Gold Shares represented thereby shall be made in such manner and upon instructions given by the Trustee as specified in the Depository Agreement. (b) Any Global Security issued to The Depository Trust Company or its nominee shall bear a legend substantially to the following effect: "Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation ("DTC"), to the Trustee Issuer or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is required by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein." (c) The Depository has advised the Sponsor and the Trustee as follows: The Depository is a limited-purpose trust company organized under the laws of the State of New York, a member of the Federal Reserve System, a "clearing corporation" within the meaning of the New York Uniform Commercial Code, and a "clearing agency" registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended. The Depository was created to hold securities of its participants (the "DTC Participants") and to facilitate the clearance and settlement of securities transactions among the DTC Participants in such securities through electronic book-entry changes in accounts of the DTC Participants, thereby eliminating the need for physical movement of securities certificates. DTC Participants include securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations, some of whom (and/or their representatives) own the Depository. Access to the Depository's system is also available to others such as banks, brokers, dealers and trust companies that clear through or maintain a custodial relationship with a DTC Participant, either directly or indirectly ("Indirect Participants"). The Depository agrees with and represents to the DTC Participants that it will administer its book-entry system in accordance with its rules and by-laws and requirements of law. (d) As provided in the Depository Agreement, upon the settlement date of any creation, transfer or redemption of Equity Gold Shares, the Depository will credit or debit, on its book-entry registration and transfer system, the amount of Equity Gold Shares so created, transferred or redeemed to the accounts of the appropriate DTC Participants. The accounts to be credited and charged shall be designated by the Trustee and each Participant, in the case of a creation or redemption. Ownership of beneficial interest in Equity Gold Shares will be limited to DTC Participants, Indirect Participants and persons holding interests through DTC Participants and Indirect Participants. Owners of beneficial interests in Equity Gold Shares ("Beneficial Owners") will be shown on, and the transfer of beneficial ownership by Beneficial Owners will be effected only through, in the case of DTC Participants, records maintained by the Depository and, in the case of Indirect Participants and Beneficial Owners holding through a DTC Participant or an Indirect Participant, through those records or the records of the relevant DTC Participants. Beneficial Owners are expected to receive from or through the broker or bank that maintains the account through which the Beneficial Owner has purchased Equity Gold Shares a written confirmation relating to their purchase of Equity Gold Shares. (e) So long as Cede & Co., as nominee of the Depository, is the registered owner of Equity Gold Shares, references herein to the registered or record owners of Equity Gold Shares shall mean Cede & Co. and shall not mean the Beneficial Owners of Equity Gold Shares. Beneficial Owners of Equity Gold Shares will not be entitled to have Equity Gold Shares registered in their names, will not receive or be entitled to receive physical delivery of certificates in definitive form and will not be considered the record or registered holder of Equity Gold Shares under this Agreement. Accordingly, to exercise any rights of a holder of Equity Gold Shares under the Agreement, a Beneficial Owner must rely on the procedures of the Depository and, if such Beneficial Owner is not a DTC Participant, on the procedures of each DTC Participant or Indirect Participant through which such Beneficial Owner holds its interests. The Trustee and the Sponsor understand that under existing industry practice, if the Trustee requests any action of a Beneficial Owner, or a Beneficial Owner desires to take any action that the Depository, as the record owner of all outstanding Equity Gold Shares, is entitled to take, in the case of a Trustee request, the Depository will notify the DTC Participants regarding such request, such DTC Participants will in turn notify each Indirect Participant holding Equity Gold Shares through it, with each successive Indirect Participant continuing to notify each person holding Equity Gold Shares through it until the request has reached the Beneficial Owner, and in the case of a request or authorization to act being sought or given by a Beneficial Owner, such request or authorization is given by the Beneficial Owner and relayed back to the Trustee through each Indirect Participant and DTC Participant through which the Beneficial Owner's interest in the Equity Gold Shares is held. (f) As described above, the Trustee will recognize the Depository or its nominee as the owner of all Equity Gold Shares for all purposes except as expressly set forth in this Agreement. Conveyance of all notices, statements and other communications to Beneficial Owners will be effected as follows. Pursuant to the Depository Agreement, the Depository is required to make available to the Trustee upon request and for a fee to be charged to the Trust a listing of the Equity Gold Share holdings of each DTC Participant. The Trustee shall inquire of each such DTC Participant as to the number of Beneficial Owners holding Equity Gold Shares, directly or indirectly, through such DTC Participant. The Trustee shall provide each such DTC Participant with sufficient copies of such notice, statement or other communication, in such form, number and at such place as such DTC Participant may reasonably request, in order that such notice, statement or communication may be transmitted by such DTC Participant, directly or indirectly, to such Beneficial Owners. In addition, the Trust shall pay to each such DTC Participant an amount as reimbursement for the expenses attendant to such transmittal, all subject to applicable statutory and regulatory requirements. (g) Distributions on Equity Gold Shares pursuant to Section 3.05(d) shall be made to the Depository or its nominee, Cede & Co., as the registered owner of all Equity Gold Shares. The Trustee and the Sponsor expect that the Depository or its nominee, upon receipt of any payment of distributions in respect of Equity Gold Shares, shall credit immediately DTC Participants' accounts with payments in amounts proportionate to their respective beneficial interests in Equity Gold Shares as shown on the records of the Depository or its nominee. The Trustee and the Sponsor also expect that payments by DTC Participants to Indirect Participants and Beneficial Owners held through such DTC Participants and Indirect Participants will be governed by standing instructions and customary practices, as is now the case with securities held for the accounts of customers in bearer form or registered in a "street name," and will be the responsibility of such DTC Participants and Indirect Participants. Neither the Trustee nor the Sponsor will have any responsibility or liability for any aspects of the records relating to or notices to Beneficial Owners, or payments made on account of beneficial ownership interests in Equity Gold Shares, or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests or for any other aspect of the relationship between the Depository and the DTC Participants or the relationship between such DTC Participants and the Indirect Participants and Beneficial Owners owning through such DTC Participants or Indirect Participants or between or among the Depository, any Beneficial Owner and any person by or through which such Beneficial Owner is considered to own Equity Gold Shares.