Common use of Custodian’s Representations Clause in Contracts

Custodian’s Representations. The Custodian represents and warrants to the Trustee that (such representations and warranties being deemed to be repeated upon each occasion of deposit or withdrawal of Gold under this Agreement): (1) the Custodian is duly constituted with all necessary authority, powers, consents, licenses and authorizations (which have not been revoked) and all necessary action has been taken to enable it lawfully to enter into and perform its duties and obligations under this Agreement; (2) the person entering into this Agreement on behalf of the Custodian has been duly authorized to do so; (3) this Agreement and the obligations created under it are binding upon the Custodian and enforceable against the Custodian in accordance with its terms (subject to applicable principles of equity) and do not and will not violate the terms of the Rules or any order, charge or agreement by which the Custodian is bound; and (4) the Government Guarantee applies to the Gold held in the Metal Accounts.

Custodian’s Representations. The Custodian represents and warrants to the Trustee that (such representations and warranties being deemed to be repeated upon each occasion of deposit or withdrawal of Physical Gold under this Agreement): (1) the Custodian is duly constituted with all necessary authority, powers, consents, licenses and authorizations (which have not been revoked) and all necessary action has been taken to enable it lawfully to enter into and perform its duties and obligations under this Agreement; (2) the person entering into this Agreement on behalf of the Custodian has been duly authorized to do so; (3) this Agreement and the obligations created under it are binding upon the Custodian and enforceable against the Custodian in accordance with its terms (subject to applicable principles of equity) and do not and will not violate the terms of the Rules or any order, charge or agreement by which the Custodian is bound; and (4) the Government Guarantee applies to the Gold held in the Metal Accounts, including any Gold held by Sub-Custodians.