Common use of Evaluation of Gold Clause in Contracts

Evaluation of Gold. As promptly as practicable after 4:00 p.m. (New York time), on each Business Day, the Trustee shall determine the value of the Gold held or receivable by the Trust on the basis of the Benchmark Price for that day. If no Benchmark Price is announced on a Business Day, the Trustee shall determine the value of the Gold held or receivable by the Trust for that day on the basis of the most recently announced Benchmark Price prior to the evaluation time. However, if the Sponsor determines that the price specified in the two preceding sentences is inappropriate as a basis for evaluation, it shall identify an alternative basis for evaluation to be employed by the Trustee. Gold deliverable under a Purchase Order shall be included in the evaluation beginning on the Order Date. Gold deliverable under a Redemption Order shall not be included in the evaluation on and after the Order Date. Neither the Trustee nor the Sponsor shall be liable to any Person for the determination that the most recently announced Benchmark Price is not appropriate as a basis for evaluation of the Gold held or receivable by the Trust or for any determination as to the alternative basis for evaluation, provided that such determination is made in good faith. If the Sponsor determines that Benchmark Price will have the meaning set forth in part (ii) of the definition of that term, the Trustee shall give notice to the Registered Owners, and the Trustee shall not apply the new definition of Benchmark Price until 60 days after the date of that notice.

Evaluation of Gold. (a) As promptly as practicable after 4:00 p.m. (New York time), on each Business Day, the Trustee shall determine the value of the Gold gold held or receivable by the Trust (i) on the basis of the Benchmark Price for that day. If day or (ii) if no Benchmark Price is announced on a Business Day, the Trustee shall determine the value of the Gold held or receivable by the Trust for that day day, on the basis of the most recently announced Benchmark Price prior to the evaluation time. However, if the Sponsor determines that the price Benchmark Price specified in the two preceding sentences sentence is inappropriate as a basis for evaluation, it shall identify an alternative basis for evaluation to be employed by the Trustee. Gold deliverable under a Purchase Order shall be included in the evaluation beginning on the first Business Day following the Order DateDate therefor. Gold deliverable under a Redemption Order shall not be included in the evaluation on and after the first Business Day following the Order DateDate therefor. Neither the Trustee nor the Sponsor shall be liable to any Person for the determination that the most recently announced Benchmark Price is not appropriate as a basis for evaluation of the Gold gold held or receivable by the Trust or for any determination as to the alternative basis for evaluation, provided that such determination is made in good faith. . (b) If the Sponsor determines that the Benchmark Price will should have the meaning set forth in part (ii) of the definition of that termterm set forth in Section 1.1, the Trustee shall give notice thereof to the Registered OwnersOwners identifying the price determined by the Sponsor to be used for the purpose of the evaluation of gold, and the Trustee shall not apply the new definition meaning to the evaluation of Benchmark Price until gold beginning 60 days after the date of that notice.

Evaluation of Gold. (a) As promptly as practicable after 4:00 p.m. (New York time), the Order Cutoff Time on each Business Day, the Trustee shall determine the value of the Gold gold held or receivable by the Trust (i) on the basis of the Benchmark Price for that day. If day or (ii) if no Benchmark Price is announced on a Business Day, the Trustee shall determine the value of the Gold held or receivable by the Trust for that day day, on the basis of the most recently announced Benchmark Price prior to the evaluation time. However, if the Custodial Sponsor determines that the price Benchmark Price specified in the two preceding sentences sentence is inappropriate as a basis for evaluation, it shall identify an alternative basis for evaluation to be employed by the Trustee. Gold deliverable under a Purchase Order shall be included in the evaluation beginning on the first Business Day following the Order DateDate therefor. Gold deliverable under a Redemption Order shall not be included in the evaluation on and after the first Business Day following the Order DateDate therefor. Neither the Trustee nor the a Sponsor shall be liable to any Person for the determination that the most recently announced Benchmark Price is not appropriate as a basis for evaluation of the Gold gold held or receivable by the Trust or for any determination as to the alternative basis for evaluation, provided that such determination is made in good faith. . (b) If the Custodial Sponsor determines that the Benchmark Price will should have the meaning set forth in part (ii) of the definition of that termterm set forth in Section 1.1, the Trustee shall give notice thereof to the Registered OwnersOwners identifying the price determined by the Custodial Sponsor to be used for the purpose of the evaluation of gold, and the Trustee shall not apply the new definition meaning to the evaluation of Benchmark Price until gold beginning 60 days after the date of that notice.

Evaluation of Gold. (a) As promptly as practicable after 4:00 p.m. (New York time), the Order Cutoff Time on each Business Day, the Trustee shall determine the value of the Gold gold held or receivable by the Trust (i) on the basis of the Benchmark Price for that day. If day or (ii) if no Benchmark Price is announced on a Business Day, the Trustee shall determine the value of the Gold held or receivable by the Trust for that day day, on the basis of the most recently announced Benchmark Price prior to the evaluation time. However, if the Sponsor determines that the price Benchmark Price specified in the two preceding sentences sentence is inappropriate as a basis for evaluation, it shall identify an alternative basis for evaluation to be employed by the Trustee. Gold deliverable under a Purchase Order shall be included in the evaluation beginning on the first Business Day following the Order DateDate therefor. Gold deliverable under a Redemption Order shall not be included in the evaluation on and after the first Business Day following the Order DateDate therefor. Neither the Trustee nor the Sponsor shall be liable to any Person for the determination that the most recently announced Benchmark Price is not appropriate as a basis for evaluation of the Gold gold held or receivable by the Trust or for any determination as to the alternative basis for evaluation, provided that such determination is made in good faith. . (b) If the Sponsor determines that the Benchmark Price will should have the meaning set forth in part (ii) of the definition of that termterm set forth in Section 1.1, the Trustee shall give notice thereof to the Registered OwnersOwners identifying the price determined by Sponsor to be used for the purpose of the evaluation of gold, and the Trustee shall not apply the new definition meaning to the evaluation of Benchmark Price until gold beginning 60 days after the date of that notice.