Common use of Deposit of Gold Bullion Clause in Contracts

Deposit of Gold Bullion. (a) The Initial Depositor is party to the Gold Storage Agreement with the Mint pursuant to which Gold Bullion is deposited by the Initial Depositor into the Trust Allocated Account held at the Mint. From time to time, as provided in Section 2.1 and Section 2.4 above, the Underwriter shall notify the Trustee by written instruction that Gold Bullion has been deposited by the Initial Depositor on behalf of the relevant Authorized Participant into the Trust Allocated Account for the benefit of the Trust, in an amount (or amounts) sufficient to issue Gold Deposit Receipts in the manner set forth in such written instruction. (b) An Authorized Participant wishing to acquire a Gold Deposit Receipt must place an order with the Underwriter (a “Purchase Order”) no later than the Order Cutoff Time. Purchase Orders may be received telephonically, by email, via DTC or by any other reasonable means. Purchase Orders received by the Underwriter on or prior to the Order Cutoff Time on a Business Day will have that Business Day as the Order Date. Purchase Orders received by the Underwriter after the Order Cutoff Time on a Business Day, or on a Business Day on which the Benchmark Price cannot be determined due to the occurrence of a force majeure event or market disruption event, will have as their Order Date the next Business Day on which the Benchmark Price can be determined. As consideration for each Gold Deposit Receipt acquired, the relevant Authorized Participant must deposit with the Trustee the amount determined by the Calculation Agent on the Order Date of the corresponding Purchase Order. The Trustee shall deliver such proceeds to the Underwriter. The Underwriter shall notify the Trustee and the Initial Depositor of each such Purchase Order. The settlement date will be no later than the second Business Day following the date of receipt by a Responsible Officer of the Trustee of the Purchase Order (“Settlement Date”). (c) All deposited Gold Bullion shall be held in the Trust Allocated Account of the Initial Depositor at the Mint for the benefit of the Trust. Neither the Trustee nor the Trust shall be responsible, or liable, for any misconduct, bad faith or negligence of the Initial Depositor or the Mint in respect of either’s handling of the Trust Allocated Account or any amount deposited, or not deposited therein.

Deposit of Gold Bullion. (a) The Initial Depositor is party to the Gold Storage Agreement with the Mint pursuant to which Gold Bullion is deposited by the Initial Depositor into the Trust Allocated Account held at the Mint. From time to time, as provided in Section 2.1 and Section 2.4 above, the Underwriter shall notify the Trustee by written instruction that Gold Bullion has been deposited by the Initial Depositor on behalf of the relevant Authorized Participant into the Trust Allocated Account for the benefit of the Trust, in an amount (or amounts) sufficient to issue Gold Deposit Receipts in the manner set forth in such written instruction. . (b) An Authorized Participant wishing to acquire a Gold Deposit Receipt must place an order with the Underwriter (a “Purchase Order”) no later than the Order Cutoff Time. Purchase Orders may be received telephonically, by email, via DTC or by any other reasonable means. Purchase Orders received by the Underwriter on or prior to the Order Cutoff Time on a Business Day will have that Business Day as the Order Date. Purchase Orders received by the Underwriter after the Order Cutoff Time on a Business Day, or on a Business Day on which the Benchmark Price cannot be determined due to the occurrence of a force majeure event or market disruption event, will have as their Order Date the next Business Day on which the Benchmark Price can be determined. As consideration for each Gold Deposit Receipt acquired, the relevant Authorized Participant must deposit with the Trustee the amount determined by the Calculation Agent on the Order Date of the corresponding Purchase Order. The Trustee shall deliver such proceeds to the Underwriter. The Underwriter shall notify the Trustee and the Initial Depositor of each such Purchase Order. The settlement date will be no later than the second Business Day following the date of receipt by a Responsible Officer of the Trustee of the Purchase Order (“Settlement Date”). (c) All deposited Gold Bullion shall be held in the Trust Allocated Account of the Initial Depositor at the Mint for the benefit of the Trust. Neither the Trustee nor the Trust shall be responsible, or liable, for any misconduct, bad faith or negligence of the Initial Depositor or the Mint in respect of either’s handling of the Trust Allocated Account or any amount deposited, or not deposited therein.. Section 2.7

Deposit of Gold Bullion. (a) The Initial Depositor is party to the Gold Storage Agreement with the Mint pursuant to which Gold Bullion is deposited by the Initial Depositor into the Trust Allocated Account held at the Mint. From time to time, as provided in Section 2.1 and Section 2.4 above, the Underwriter shall notify the Trustee by written instruction that Gold Bullion has been deposited by the Initial Depositor on behalf of the relevant Authorized Participant into the Trust Allocated Account for the benefit of the Trust, in an amount (or amounts) sufficient to issue Gold Deposit Receipts in the manner set forth in such written instruction. (b) An Authorized Participant wishing to acquire a Gold Deposit Receipt must place an order with the Underwriter (a “Purchase Order”) no later than the Order Cutoff Time. Purchase Orders may be received telephonically, by email, via DTC or by any other reasonable means. Purchase Orders received by the Underwriter on or prior to the Order Cutoff Time on a Business Day will have that Business Day as the Order Date. Purchase Orders received by the Underwriter after the Order Cutoff Time on a Business Day, or on a Business Day on which the Benchmark Price cannot be determined calculated due to the occurrence of a force majeure event or market disruption event, will have as their Order Date the next Business Day on which the Benchmark Price can be determinedcalculated. As consideration for each Gold Deposit Receipt acquired, the relevant Authorized Participant must deposit with the Trustee the amount determined by the Calculation Agent on the Order Date of the corresponding Purchase Order. The Trustee shall deliver such proceeds to the Underwriter. The Underwriter shall notify the Trustee and the Initial Depositor of each such Purchase Order. The settlement date will be no later than the second Business Day following the date of receipt by a Responsible Officer of the Trustee of the Purchase Order (“Settlement Date”). (c) All deposited Gold Bullion shall be held in the Trust Allocated Account of the Initial Depositor at the Mint for the benefit of the Trust. Neither the Trustee nor the Trust shall be responsible, or liable, for any misconduct, bad faith or negligence of the Initial Depositor or the Mint in respect of either’s handling of the Trust Allocated Account or any amount deposited, or not deposited therein.

Deposit of Gold Bullion. (a) The Initial Depositor is party to the Gold Storage Agreement with the Mint pursuant to which Gold Bullion is deposited by the Initial Depositor into the Trust Allocated Account held at the Mint. From time to time, as provided in Section 2.1 and Section 2.4 above, the Underwriter Placement Agent shall notify the Trustee by written instruction that Gold Bullion has been deposited by the Initial Depositor on behalf of the relevant Authorized Participant into the Trust Allocated Account for the benefit of the Trust, in an amount (or amounts) sufficient to issue Gold Deposit Receipts in the manner set forth in such written instruction. Instructions shall be substantially in the form of Exhibit [ ] hereto and shall contain such modifications or revisions as may be required by the Trustee from time to time. The Trustee shall be instructed in such written instruction, to issue Gold Deposit Receipts against payment therefor by the purchasers. (b) An Authorized Participant wishing to acquire a Gold Deposit Receipt must place an order with the Underwriter Placement Agent (a “Purchase Order”) no later than 4:00 p.m. (New York time, or such other time as may hereafter be established by the Placement Agent and promptly notified to the Trustee) on any Business Day (the “Order Cutoff Time”). Purchase Orders may be received telephonically, by email, via DTC or by any other reasonable means. Purchase Orders received by the Underwriter Placement Agent on or prior to the Order Cutoff Time on a Business Day will have that Business Day as the Order Date. Purchase Orders received by the Underwriter Placement Agent after the Order Cutoff Time on a Business Day, or on a Business Day on which the Benchmark Price cannot be determined calculated due to the occurrence of a force majeure event or market disruption event, will have as their Order Date the next Business Day on which the Benchmark Price can be determinedcalculated. As consideration for each Gold Deposit Receipt acquired, the relevant Authorized Participant must deposit with the Trustee the amount determined by the Calculation Agent on the Order Date of the corresponding Purchase Order. The Trustee shall deliver such proceeds to the UnderwriterPlacement Agent. The Underwriter Placement Agent shall notify the Trustee and the Initial Depositor of each such Purchase Order. The settlement date will be no later than the second Business Day following the date of receipt by a Responsible Officer of the Trustee of the Purchase Order (“Settlement Date”). (c) All deposited Gold Bullion shall be held in the Trust Allocated Account of the Initial Depositor at the Mint for the benefit of the Trust. Neither the Trustee nor the Trust shall be responsible, or liable, for any misconduct, bad faith or negligence of the Initial Depositor or the Mint in respect of either’s handling of the Trust Allocated Account or any amount deposited, or not deposited therein.. Section 2.7

Deposit of Gold Bullion. (a) The Initial Depositor is party to the Gold Storage Agreement with the Mint pursuant to which Gold Bullion is deposited by the Initial Depositor into the Trust Allocated Account is held at an account at the Mint. From time to time, as provided in Section 2.1 and Section 2.4 above, the Underwriter Placement Agent shall notify the Trustee by written instruction that Gold Bullion has been deposited by the Initial Depositor on behalf of the relevant Authorized Participant into the Trust Allocated Account for the benefit of the Trust, in an amount (or amounts) sufficient to issue Gold Deposit Receipts in the manner set forth in such written instruction. Instructions shall be substantially in the form of Exhibit B hereto and shall contain such modifications or revisions as may be required by the Trustee from time to time. The Trustee shall be instructed in such written instruction, to issue Gold Deposit Receipts against payment therefor by the purchasers. (b) An Authorized Participant wishing to acquire a Gold Deposit Receipt must place an order with the Underwriter Placement Agent (a “Purchase Order”) no later than 4:00 p.m. (New York time, or such other time as may hereafter be established by the Order Cutoff Time. Purchase Orders may be received telephonically, by email, via DTC or by Placement Agent and promptly notified to the Trustee) on any other reasonable meansBusiness Day. Purchase Orders received by the Underwriter on or Placement Agent prior to the Order Cutoff Time on a Business Day will have that Business Day as the Order Date. Purchase Orders received by the Underwriter Trustee on or after the Order Cutoff Time on a Business Day, or on a Business Day on which the Benchmark Price cannot be determined calculated due to the occurrence of a force majeure event or market disruption event, will have as their Order Date the next Business Day on which the Benchmark Price can be determinedcalculated. As consideration for each Gold Deposit Receipt acquired, the relevant Authorized Participant must deposit with the Trustee the amount determined by the Calculation Agent on the Order Date of the corresponding Purchase Order. The Trustee shall deliver such proceeds to the UnderwriterPlacement Agent. The Underwriter Placement Agent shall notify the Trustee and the Initial Depositor of each such Purchase Order. The settlement date will be no later than the second Business Day following the date of receipt by a Responsible Officer of the Trustee of the Purchase Order (“Settlement Date”). (c) All deposited Gold Bullion shall be held in through the Trust Allocated Account of the Initial Depositor at the Mint for the benefit of the Trust. Neither the Trustee nor the Trust shall be responsible, or liable, for any misconduct, bad faith or negligence of the Initial Depositor or the Mint in respect of either’s handling of the Allocated Trust Allocated Account or any amount deposited, or not deposited therein.

Deposit of Gold Bullion. (a) The Initial Depositor is party to the Gold Storage Agreement with the Mint pursuant to which Gold Bullion is deposited by the Initial Depositor into the Trust Allocated Account held at the Mint. From time to time, as provided in Section 2.1 and Section 2.4 above, the Underwriter Placement Agent shall notify the Trustee by written instruction that Gold Bullion has been deposited by the Initial Depositor on behalf of the relevant Authorized Participant into the Trust Allocated Account for the benefit of the Trust, in an amount (or amounts) sufficient to issue Gold Deposit Receipts in the manner set forth in such written instruction. (b) An Authorized Participant wishing to acquire a Gold Deposit Receipt must place an order with the Underwriter Placement Agent (a “Purchase Order”) no later than the Order Cutoff Time. Purchase Orders may be received telephonically, by email, via DTC or by any other reasonable means. Purchase Orders received by the Underwriter Placement Agent on or prior to the Order Cutoff Time on a Business Day will have that Business Day as the Order Date. Purchase Orders received by the Underwriter Placement Agent after the Order Cutoff Time on a Business Day, or on a Business Day on which the Benchmark Price cannot be determined calculated due to the occurrence of a force majeure event or market disruption event, will have as their Order Date the next Business Day on which the Benchmark Price can be determinedcalculated. As consideration for each Gold Deposit Receipt acquired, the relevant Authorized Participant must deposit with the Trustee the amount determined by the Calculation Agent on the Order Date of the corresponding Purchase Order. The Trustee shall deliver such proceeds to the UnderwriterPlacement Agent. The Underwriter Placement Agent shall notify the Trustee and the Initial Depositor of each such Purchase Order. The settlement date will be no later than the second Business Day following the date of receipt by a Responsible Officer of the Trustee of the Purchase Order (“Settlement Date”). (c) All deposited Gold Bullion shall be held in the Trust Allocated Account of the Initial Depositor at the Mint for the benefit of the Trust. Neither the Trustee nor the Trust shall be responsible, or liable, for any misconduct, bad faith or negligence of the Initial Depositor or the Mint in respect of either’s handling of the Trust Allocated Account or any amount deposited, or not deposited therein.

Deposit of Gold Bullion. (a) The Initial Depositor is party to the Gold Storage Agreement with the Mint pursuant to which Gold Bullion is deposited by the Initial Depositor into the Trust Allocated Account held at the Mint. From time to time, as provided in Section 2.1 and Section 2.4 above, the Underwriter Placement Agent shall notify the Trustee by written instruction that Gold Bullion has been deposited by the Initial Depositor on behalf of the relevant Authorized Participant into the Trust Allocated Account for the benefit of the Trust, in an amount (or amounts) sufficient to issue Gold Deposit Receipts in the manner set forth in such written instruction. Instructions shall be substantially in the form of Exhibit [ ] hereto and shall contain such modifications or revisions as may be required by the Trustee from time to time. The Trustee shall be instructed in such written instruction, to issue Gold Deposit Receipts against payment therefor by the purchasers. (b) An Authorized Participant wishing to acquire a Gold Deposit Receipt must place an order with the Underwriter Placement Agent (a “Purchase Order”) no later than 4:00 p.m. (New York time, or such other time as may hereafter be established by the Placement Agent and promptly notified to the Trustee) on any Business Day (the “Order Cutoff Time”). Purchase Orders may be received telephonically, by email, via DTC or by any other reasonable means. Purchase Orders received by the Underwriter Placement Agent on or prior to the Order Cutoff Time on a Business Day will have that Business Day as the Order Date. Purchase Orders received by the Underwriter Placement Agent after the Order Cutoff Time on a Business Day, or on a Business Day on which the Benchmark Price cannot be determined calculated due to the occurrence of a force majeure event or market disruption event, will have as their Order Date the next Business Day on which the Benchmark Price can be determinedcalculated. As consideration for each Gold Deposit Receipt acquired, the relevant Authorized Participant must deposit with the Trustee the amount determined by the Calculation Agent on the Order Date of the corresponding Purchase Order. The Trustee shall deliver such proceeds to the UnderwriterPlacement Agent. The Underwriter Placement Agent shall notify the Trustee and the Initial Depositor of each such Purchase Order. The settlement date will be no later than the second Business Day following the date of receipt by a Responsible Officer of the Trustee of the Purchase Order (“Settlement Date”). (c) All deposited Gold Bullion shall be held in the Trust Allocated Account of the Initial Depositor at the Mint for the benefit of the Trust. Neither the Trustee nor the Trust shall be responsible, or liable, for any misconduct, bad faith or negligence of the Initial Depositor or the Mint in respect of either’s handling of the Trust Allocated Account or any amount deposited, or not deposited therein.