Common use of Deposit of Platinum Clause in Contracts

Deposit of Platinum. (a) After the initial deposit of Platinum in the Trust, the issuance and Delivery of Shares will take place only in integral numbers of Baskets and in compliance with the provisions of this Agreement, as supplemented by the Procedures, to the extent those Procedures are consistent with this Agreement. Authorized Participants wishing to acquire from the Trustee one or more Baskets must place an order with the Trustee (a “Purchase Order”) no later than 3:59:59 p.m. (New York time) on any Business Day. Purchase Orders received by the Trustee prior to the Order Cutoff Time on a Business Day on which the Benchmark Price is announced will have that Business Day as the Order Date. Purchase Orders received by the Trustee on or after the Order Cutoff Time on a Business Day, or on a Business Day on which the Benchmark Price is not announced, will have as their Order Date the next Business Day on which the Benchmark Price is announced. As consideration for each Basket acquired, Authorized Participants must deposit with the Custodian, from an account of the Authorized Participant maintained by the Custodian, or, if otherwise expressly permitted by the Procedures, other LPPM-member custodian identified by the Authorized Participant to the Custodian and the Trustee, the Basket Platinum Amount determined by the Trustee on the Order Date of the corresponding Purchase Order. Platinum must be Delivered to the Custodian by credit to the Trust Unallocated Account only.

Deposit of Platinum. (a) After the initial deposit of Platinum in the Trust, the issuance and Delivery of Shares will take place only in integral numbers of Baskets and in compliance with the provisions of this Agreement, as supplemented by the Procedures, to the extent those Procedures are consistent with this Agreement. Authorized Participants wishing to acquire from the Trustee one or more Baskets must place an order with the Trustee (a “Purchase Order”) no later than 3:59:59 p.m. (New York time) on any Business Day. Purchase Orders received by the Trustee prior to the Order Cutoff Time on a Business Day on which the Benchmark Price is announced will have that Business Day as the Order Date. Purchase Orders received by the Trustee on or after the Order Cutoff Time on a Business Day, or on a Business Day on which the Benchmark Price is not announced, will have as their Order Date the next Business Day on which the Benchmark Price is announced. As consideration for each Basket acquired, Authorized Participants must deposit with the Custodian, from an account of at the Authorized Participant maintained location designated by the Custodian, or, if otherwise expressly permitted by the Procedures, other LPPM-member custodian identified by the Authorized Participant to the Custodian and the Trustee, the Basket Platinum Amount determined by the Trustee on the Order Date of the corresponding Purchase Order. Platinum must be Delivered to the Custodian by credit to the Trust Unallocated Account only.