Further Provisions for Gold Sales. In addition to selling Gold in accordance with Section 4.7, the Trustee shall sell Gold whenever any one or more of the following conditions exists: (a) the Sponsor has notified the Trustee that such sale is required by applicable law or regulation; or (b) this Agreement has been terminated and the Trust Property is to be liquidated in accordance with Section 6.2. When selling Gold, the Trustee shall endeavor to place orders with dealers (which may include the Custodian) as directed by the Sponsor, or in the absence of such direction, with dealers through which the Trustee may reasonably expect to obtain a favorable price and good execution of orders. The Custodian may be the purchaser at the Benchmark Price. The Trustee and the Sponsor shall not be liable or responsible in any way for depreciation or loss incurred by reason of any sale made pursuant to this Section 4.9.
Appears in 4 contracts
Samples: Depositary Trust Agreement (ETFS Asian Gold Trust), Depositary Trust Agreement (ETFS Asian Gold Trust), Depositary Trust Agreement (ETFS Gold Trust)
