Common use of Capacity; Right to refuse Precious Metal or amend procedure Clause in Contracts

Capacity; Right to refuse Precious Metal or amend procedure. We will use our best efforts to have available the necessary capacity to take delivery of Bullion on your behalf at the locations specified in clause 7.4 of this Agreement by parties making such deliveries; for this purpose we are authorised to, at our own risk and expense, move Silver held in the Account from one location to another location otherwise permitted under this Agreement; provided, that we will not be required to take any additional delivery of Silver if, after giving effect to such delivery, the aggregate value of Bullion in the Account would exceed U.S.$ 1 billion.

Appears in 4 contracts

Samples: Custodian Agreement (iShares Silver Trust), Custodian Agreement (iShares Silver Trust), Custodian Agreement (iShares Silver Trust)

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Capacity; Right to refuse Precious Metal or amend procedure. We will use our best efforts to have available the necessary capacity to take delivery of Bullion on your behalf at the locations specified in clause 7.4 of this Agreement by parties making such deliveries; for this purpose we are authorised to, at our own risk and expense, move Silver held in the Account from one location to another location otherwise permitted under this Agreement; provided, that we will not be required to take any additional delivery of Silver if, after giving effect to such delivery, the aggregate value amount of Bullion in the Account would exceed U.S.$ 1 billion500,000,000 xxxx ounces.

Appears in 1 contract

Samples: Custodian Agreement (iShares Silver Trust)

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