Common use of Commodities purchased by you Clause in Contracts

Commodities purchased by you. We may, from time to time, at your request but in our discretion, agree to hold on your behalf either ourselves or through a sub-custodian of our choice any commodity or documents of title to commodities which you have acquired from us pursuant to an LME Contract concluded with us (each a "Transaction"). Where we effect the holding ourselves, such commodity or documents will be segregated from any like commodity or documents in our ownership but otherwise will be subject to the same custody and insurance arrangements as our own property. Where we effect the holding through a sub-custodian of our choice, our duty is only to secure from our sub- custodian an acknowledgement that such commodity or documents will be segregated from any like commodity or documents held for our proprietary account but otherwise will be subject to the same custody and insurance arrangements as our own property. We shall in any event owe you no fiduciary duty in respect of any such commodity or documents and our responsibility (i) Where we effect the holding ourselves shall be limited to taking reasonable care to restore such commodity or documents to you upon your giving us reasonable notice and the payment to us of fees and charges for such holding of such commodity or documents of title with or through us; and (ii) Where we effect the holding through a sub-custodian of our choice shall be limited to assigning you the benefit of our rights of action (or where the same is not assignable, the fruits of the exercise and enforcement of such rights subject to you indemnifying us for the costs of such exercise and enforcement of rights) against the sub-custodian with respect the property held and otherwise to onward request the sub-custodian to restore such commodity or documents to you upon your giving us reasonable notice and the payment to us of fees and charges for such holding of such commodity or documents of title with or through us. We reserve the right to levy charges for this service (which shall at the minimum be equal to the charges payable by ourselves to a sub-custodian for such holding). Our duties with respect such holding shall be strictly limited to the duties expressly set out in this document.

Commodities purchased by you. We may, from time to time, at your request but in our discretion, agree to hold on your behalf either ourselves or through a sub-custodian of our choice any commodity or documents of title to commodities which you have acquired from us pursuant to an LME Contract concluded with us (each a "Transaction"). Where we effect the holding ourselves, such commodity or documents will be segregated from any like commodity or documents in our ownership but otherwise will be subject to the same custody and insurance arrangements as our own property. Where we effect the holding through a sub-custodian of our choice, our duty is only to secure from our sub- sub-custodian an acknowledgement that such commodity or documents will be segregated from any like commodity or documents held for our proprietary account but otherwise will be subject to the same custody and insurance arrangements as our own property. We shall in any event owe you no fiduciary duty in respect of any such commodity or documents and our responsibility (i) Where we effect the holding ourselves shall be limited to taking reasonable care to restore such commodity or documents to you upon your giving us reasonable notice and the payment to us of fees and charges for such holding of such commodity or documents of title with or through us; and (ii) Where we effect the holding through a sub-custodian of our choice shall be limited to assigning you the benefit of our rights of action (or where the same is not assignable, the fruits of the exercise and enforcement of such rights subject to you indemnifying us for the costs of such exercise and enforcement of rights) against the sub-custodian with respect the property held and otherwise to onward request the sub-custodian to restore such commodity or documents to you upon your giving us reasonable notice and the payment to us of fees and charges for such holding of such commodity or documents of title with or through us. We reserve the right to levy charges for this service (which shall at the minimum be equal to the charges payable by ourselves to a sub-custodian for such holding). Our duties with respect such holding shall be strictly limited to the duties expressly set out in this document.

Commodities purchased by you. We UOB may, from time to time, at your request but in our UOB’s discretion, agree to hold on your behalf either ourselves or through a sub-custodian of our UOB’s choice any commodity or documents of title to commodities which you have acquired from us UOB pursuant to an LME Contract concluded with us UOB (each a "Transaction"). Where we effect UOB effects the holding ourselvesitself, such commodity or documents will be segregated from any like commodity or documents in our UOB’s ownership but otherwise will be subject to the same custody and insurance arrangements as our UOB’s own property. Where we UOB effect the holding through a sub-custodian of our UOB’s choice, our UOB’s duty is only to secure from our sub- UOB’s sub-custodian an acknowledgement that such commodity or documents will be segregated from any like commodity or documents held for our UOB’s proprietary account but otherwise will be subject to the same custody and insurance arrangements as our UOB’s own property. We UOB shall in any event owe you no fiduciary duty in respect of any such commodity or documents and our UOB’s responsibility (i) Where we effect where UOB effects the holding ourselves itself shall be limited to taking reasonable care to restore such commodity or documents to you upon your giving us UOB reasonable notice and the payment to us UOB of fees and charges for such holding of such commodity or documents of title with or through usUOB; and (ii) Where we effect where UOB effects the holding through a sub-custodian of our UOB’s choice shall be limited to assigning you the benefit of our UOB’s rights of action (or where the same is not assignable, the fruits of the exercise and enforcement of such rights subject to you indemnifying us UOB for the costs of such exercise and enforcement of rights) against the sub-custodian with respect the property held and otherwise to onward request the sub-custodian to restore such commodity or documents to you upon your giving us UOB reasonable notice and the payment to us UOB of fees and charges for such holding of such commodity or documents of title with or through usUOB. We reserve UOB reserves the right to levy charges for this service (which shall at the minimum be equal to the charges payable by ourselves UOB to a sub-custodian for such holding). Our UOB’s duties with respect such holding shall be strictly limited to the duties expressly set out in this document.

Commodities purchased by you. We may, from time to time, at your request but in our discretion, agree to hold on your behalf either ourselves or through a sub-custodian of our choice any commodity or documents of title to commodities which you have acquired from us pursuant to an LME ERER Contract concluded with us (each a "Transaction"). Where we effect the holding ourselves, such commodity or documents will be segregated from any like commodity or documents in our ownership but otherwise will be subject to the same custody and insurance arrangements as our own property. Where we effect the holding through a sub-custodian of our choice, our duty is only to secure from our sub- sub-custodian an acknowledgement that such commodity or documents will be segregated from any like commodity or documents held for our proprietary account but otherwise will be subject to the same custody and insurance arrangements as our own property. We shall in any event owe you no fiduciary duty in respect of any such commodity or documents and our responsibility (i) Where we effect the holding ourselves shall be limited to taking reasonable care to restore such commodity or documents to you upon your giving us reasonable notice and the payment to us of fees and charges for such holding of such commodity or documents of title with or through us; and (ii) Where we effect the holding through a sub-custodian of our choice shall be limited to assigning you the benefit of our rights of action (or where the same is not assignable, the fruits of the exercise and enforcement of such rights subject to you indemnifying us for the costs of such exercise and enforcement of rights) against the sub-sub- custodian with respect the property held and otherwise to onward request the sub-custodian to restore such commodity or documents to you upon your giving us reasonable notice and the payment to us of fees and charges for such holding of such commodity or documents of title with or through us. We reserve the right to levy charges for this service (which shall at the minimum be equal to the charges payable by ourselves to a sub-custodian for such holding). Our duties with respect such holding shall be strictly limited to the duties expressly set out in this document.

Commodities purchased by you. We may, from time to time, at your request but in our discretion, agree to hold on your behalf either ourselves or through a sub-custodian of our choice any commodity or documents of title to commodities which you have acquired from us pursuant to an LME ERER Contract concluded with us (each a "Transaction"). Where we effect the holding ourselves, such commodity or documents will be segregated from any like commodity or documents in our ownership but otherwise will be subject to the same custody and insurance arrangements as our own property. Where we effect the holding through a sub-custodian of our choice, our duty is only to secure from our sub- sub-custodian an acknowledgement that such commodity or documents will be segregated from any like commodity or documents held for our proprietary account but otherwise will be subject to the same custody and insurance arrangements as our own property. We shall in any event owe you no fiduciary duty in respect of any such commodity or documents and our responsibility (i) Where we effect the holding ourselves shall be limited to taking reasonable care to restore such commodity or documents to you upon your giving us reasonable notice and the payment to us of fees and charges for such holding of such commodity or documents of title with or through us; and (ii) Where we effect the holding through a sub-custodian of our choice shall be limited to assigning you the benefit of our rights of action (or where the same is not assignable, the fruits of the exercise and enforcement of such rights subject to you indemnifying us for the costs of such exercise and enforcement of rights) against the sub-sub- custodian with respect the property held and otherwise to onward request the sub-custodian to restore such commodity or documents to you upon your giving us reasonable notice and the payment to us of fees and charges for such holding of such commodity or documents of title with or through us. We reserve the right to levy charges for this service (which shall at the minimum be equal to the charges payable by ourselves to a sub-custodian for such holding). Our duties with respect to such holding shall be strictly limited to the duties expressly set out in this document.