Evaluation of Gold Bullion. As promptly as practicable after 4:00 p.m. (New York time, or such other time as may hereafter be established by the Initial Depositor and promptly notified to the Trustee), assuming no market disruption or force majeure event has occurred, on each Business Day, the Calculation Agent shall determine the value of the Gold Bullion held on behalf of the Trust on the basis of the Benchmark Price for that day. Gold Bullion deliverable under a Purchase Order shall be included in the evaluation beginning on the Order Date. Gold Bullion deliverable under a Redemption Order shall not be included in the evaluation on and after the Order Date.
Appears in 9 contracts
Samples: Depositary Trust Agreement (Bank of Montreal /Can/), Depositary Trust Agreement (Vaulted Gold Bullion Trust), Depositary Trust Agreement (Bank of Montreal /Can/)
