Common use of Collateral Management Fees Clause in Contracts

Collateral Management Fees. 20.8.5.1 ABX shall charge a Monthly Collateral Management Fee on Full Member’s Bullion Account in accordance with this Clause 20.8.5. For the avoidance of doubt, Collateral Management Fees shall be incurred by Full Member on a day an eVW is released or cancelled, regardless of time of release or cancellation on said day. 20.8.5.2 Monthly Collateral Management Fees shall calculated as the sum of the Daily Collateral Management Fees for the previous calendar month. Monthly Collateral Management Fee = Daily Collateral Management Fees 20.8.5.3 Daily Collateral Management Fees shall be calculated by multiplying Full Member’s respective Collateral Management Fee by the sum of the Open Pledge Values. 20.8.5.4 The Open Pledge Value of each eVW shall be calculated at the time of transition of each eVW from valid status or requested (whichever is applicable) to pledged status as the Primary Close Value of the Bullion the subject of said eVW, multiplied by each eVW’s respective Lending Ratio. Open Pledge Value = Primary Close Value of Bullion X Lending Ratio 20.8.5.5 The Open Pledge Value shall remain constant from the day of transition to pledged until such time as the eVW is: a. released from pledged to valid status; or b. cancelled from pledged to cancelled status. 20.8.5.6 ABX shall determine the applicable Collateral Management Fee to be charged to Full Member as follows: a. Where the Open Pledge Value of the previous calendar month reaches USD 0 to USD 1,000,000; Full Member’s Collateral Management Fee shall be 0.083% per month; b. Where the Open Pledge Value of the previous calendar month reaches USD 1,000,001 to USD 10,000,000; Full Member’s Storage Fee shall be 0.0625% per month; c. Where the Open Pledge Value of the previous calendar month reaches or exceeds USD 10,000,001; Full Member’s Storage Fee shall be determined by negotiation with ABX wherein said Storage Fee is less than that specified in Clause 20.8.5.6 c.

Collateral Management Fees. 20.8.5.1 ABX shall charge a Monthly Collateral Management Fee on Full MemberLiquidity Provider’s Bullion Account in accordance with this Clause 20.8.5. For the avoidance of doubt, Collateral Management Fees shall be incurred by Full Member Liquidity Provider on a day an eVW is released or cancelled, regardless of time of release or cancellation on said day. 20.8.5.2 Monthly Collateral Management Fees shall calculated as the sum of the Daily Collateral Management Fees for the previous calendar month. Monthly Collateral Management Fee = Daily Collateral Management Fees 20.8.5.3 Daily Collateral Management Fees shall be calculated by multiplying Full MemberLiquidity Provider’s respective Collateral Management Fee by the sum of the Open Pledge Values. 20.8.5.4 The Open Pledge Value of each eVW shall be calculated at the time of transition of each eVW from valid status or requested (whichever is applicable) to pledged status as the Primary Close Value of the Bullion the subject of said eVW, multiplied by each eVW’s respective Lending Ratio. Open Pledge Value = Primary Close Value of Bullion X Lending Ratio 20.8.5.5 The Open Pledge Value shall remain constant from the day of transition to pledged until such time as the eVW is: a. released from pledged to valid status; or b. cancelled from pledged to cancelled status. 20.8.5.6 ABX shall determine the applicable Collateral Management Fee to be charged to Full Member Liquidity Provider as follows: a. Where the Open Pledge Value of the previous calendar month reaches USD 0 to USD 1,000,000; Full MemberLiquidity Provider’s Collateral Management Fee shall be 0.083% per month; b. Where the Open Pledge Value of the previous calendar month reaches USD 1,000,001 to USD 10,000,000; Full MemberLiquidity Provider’s Storage Fee shall be 0.0625% per month; c. Where the Open Pledge Value of the previous calendar month reaches or exceeds USD 10,000,001; Full MemberLiquidity Provider’s Storage Fee shall be determined by negotiation with ABX wherein said Storage Fee is less than that specified in Clause 20.8.5.6 c.