Common use of Investment of Monies Held by Trustee Clause in Contracts

Investment of Monies Held by Trustee. Unless otherwise provided in this Indenture, until released in accordance with this Indenture, monies held by Trustee shall be kept segregated in the records of the Trustee and shall be deposited in one or more interest-bearing trust accounts to be maintained by the Trustee in the name of the Trustee at one or more banks having a Standard and Poors Issuer Credit rating of AA- or above (an “Approved Bank”). All amounts held by the Trustee pursuant to this Indenture shall be held by the Trustee pursuant to the term of this Indenture and shall not give rise to a debtor-creditor or other similar relationship. Alternatively monies held by the Trustee, which, under the trusts of this Indenture may be invested and reinvested in the name or under the control of the Trustee in securities in which, under the laws of the Province of British Columbia, trustees are authorized to invest trust monies, provided that such securities are expressed to mature within two years or such shorter period selected to facilitate any payments expected to be made under this Indenture, after their purchase by the Trustee, and unless and until the Trustee shall have declared the principal of and premium (if any) and interest on the Debentures to be due and payable, the Trustee shall so invest such monies at the Written Direction of the Corporation given in a reasonably timely manner. The amounts held by the Trustee pursuant to this Indenture or invested are at the sole risk of Corporation and, without limiting the generality of the foregoing, the Trustee shall have no responsibility or liability for any diminution of the monies which may result from any deposit made with an Approved Bank or invested pursuant to this Section, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposit liquidated or sold prior to maturity. The parties hereto acknowledge and agree that the Trustee will have acted prudently in depositing the monies at any Approved Bank. Pending instructions to investment of any monies as hereinbefore provided, such monies may be deposited in the name of the Trustee at Approved Bank and with interest payable at the usual rate of interest provided by the Trustee at, if any, then current on similar deposits.

Investment of Monies Held by Trustee. Unless otherwise provided in this Indenture, until released in accordance with this Indenture, monies held by Trustee shall be kept segregated in the records of the Trustee and shall be deposited in one or more interest-bearing trust accounts to be maintained by the Trustee in the name of the Trustee at one or more banks having a Standard and Poors Issuer Credit rating of AA- or above (an “Approved Bank”). All amounts held by the Trustee pursuant to this Indenture shall be held by the Trustee pursuant to the term of this Indenture and shall not give rise to a debtor-creditor or other similar relationship. Alternatively monies held by the Trustee, which, under the trusts of this Indenture Indenture, may be invested and reinvested in the name or under the control of the Trustee in securities in which, under the laws of the Province of British Columbia, trustees are authorized to invest trust monies, provided that such securities are expressed to mature within two years or such shorter period selected to facilitate any payments expected to be made under this Indenture, after their purchase by the Trustee, and unless and until the Trustee shall have declared the principal of and premium (if any) and interest on the Debentures to be due and payable, the Trustee shall so invest such monies at the Written Direction of the Corporation given in a reasonably timely manner. The amounts held by the Trustee pursuant to this Indenture or invested are at the sole risk of Corporation and, without limiting the generality of the foregoing, the Trustee shall have no responsibility or liability for any diminution of the monies which may result from any deposit made with an Approved Bank or invested pursuant to this SectionSection 14.9, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposit liquidated or sold prior to maturity. The parties hereto acknowledge and agree that the Trustee will have acted prudently in depositing the monies at any Approved Bank. Pending instructions to investment of invest any monies as hereinbefore provided, such monies may be deposited in the name of the Trustee at in any Approved Bank and with interest payable at the usual rate of interest provided by the Trustee atTrustee, if any, then current on similar deposits.

Investment of Monies Held by Trustee. Unless otherwise provided in this Indenture, until released in accordance with this Indenture, monies held by Trustee shall be kept segregated in the records of the Trustee and shall be deposited in one or more interest-bearing trust accounts to be maintained by the Trustee in the name of the Trustee at one or more banks having a Standard and Poors Issuer Credit rating of AA- or above (an “Approved Bank”). All amounts held by the Trustee pursuant to this Indenture shall be held by the Trustee pursuant to the term of this Indenture and shall not give rise to a debtor-debtor- creditor or other similar relationship. Alternatively monies held by the Trustee, which, under the trusts of this Indenture may be invested and reinvested in the name or under the control of the Trustee in securities in which, under the laws of the Province of British ColumbiaOntario, trustees are authorized to invest trust monies, provided that such securities are expressed to mature within two years or such shorter period selected to facilitate any payments expected to be made under this Indenture, after their purchase by the Trustee, and unless and until the Trustee shall have declared the principal of and premium (if any) and interest on the Debentures to be due and payable, the Trustee shall so invest such monies at the Written Direction of the Corporation given in a reasonably timely manner. The amounts held by the Trustee pursuant to this Indenture or invested are at the sole risk of Corporation and, without limiting the generality of the foregoing, the Trustee shall have no responsibility or liability for any diminution of the monies which may result from any deposit made with an Approved Bank or invested pursuant to this Section, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposit liquidated or sold prior to maturity. The parties hereto acknowledge and agree that the Trustee will have acted prudently in depositing the monies at any Approved Bank. Pending instructions to investment of any monies as hereinbefore provided, such monies may be deposited in the name of the Trustee at Approved Bank and with interest payable at the usual rate of interest provided by the Trustee at, if any, then current on similar deposits.

Investment of Monies Held by Trustee. Unless otherwise provided in this Indenture, until released in accordance with this Indenture, monies held by Trustee shall be kept segregated in the records of the Trustee and shall be deposited in one or more interest-bearing trust accounts to be maintained by the Trustee in the name of the Trustee at one or more banks having a Standard and Poors Issuer Credit rating of AA- or above (an “Approved Bank”). All amounts held by the Trustee pursuant to this Indenture shall be held by the Trustee pursuant to the term of this Indenture and shall not give rise to a debtor-creditor or other similar relationship. Alternatively any monies held by the Trustee, which, under the trusts of this Indenture Indenture, may or ought to be invested or which may be on deposit with the Trustee or which may be in the hands of the Trustee, may be invested and reinvested in the name or under the control of the Trustee in securities in which, under the laws of the Province of British ColumbiaOntario, trustees are authorized to invest trust monies, provided that such securities are expressed to mature within two years or such shorter period selected to facilitate any payments expected to be made under this Indenture, after their purchase by the Trustee, and unless and until the Trustee shall have declared the principal of and premium (if any) and interest on the Debentures to be due and payable, the Trustee shall so invest such monies at the Written Direction of the Corporation. Any direction from the Corporation to the Trustee given in a reasonably timely mannerwriting shall be provided to the Trustee no later than 10:00 a.m. (Toronto time) on the day on which the investment is to be made. The amounts held Any such direction received by the Trustee pursuant after 10:00 a.m. (Toronto time) or received on a non-Business Day, shall be deemed to this Indenture have been given at or invested are at the sole risk of Corporation and, without limiting the generality of the foregoing, the Trustee shall have no responsibility or liability for any diminution of the monies which may result from any deposit made with an Approved Bank or invested pursuant to this Section, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposit liquidated or sold prior to maturity. The parties hereto acknowledge and agree that 10:00 a.m. (Toronto time) on the Trustee will have acted prudently in depositing the monies at any Approved Banknext Business Day. Pending instructions to the investment of any monies as hereinbefore provided, such monies may be deposited in the name of the Trustee at Approved Bank and with in any chartered bank of Canada or, in an interest payable bearing account in the deposit department of the Trustee or any other loan or trust company authorized to accept deposits under the laws of Canada or any province or territories thereof at the usual rate of interest provided by the Trustee atinterest, if any, then current on similar deposits. The Corporation shall receive the Trustee's prevailing rate for all monies held by it, as may change from time to time. Any such interest shall be disbursed to the Corporation 15 days after each calendar quarter or less frequently as the Corporation may direct the Trustee in writing. The Trustee shall charge the Corporation its standard fee for such releases, or levy a change for each such release as the fee agreement between the Trustee and the Corporation may specify. Unless and until the Trustee shall have declared the principal of and interest on the Debentures to be due and payable, the Trustee shall pay over to the Corporation all interest received by the Trustee in respect of any investments or deposits made pursuant to the provisions of this Section.

Investment of Monies Held by Trustee. (a) Unless otherwise provided in this Indenture, until released in accordance with this Indenture, monies held by Trustee shall be kept segregated in the records of the Trustee and shall be deposited in one or more interest-bearing trust accounts to be maintained by the Trustee in the name of the Trustee at one or more banks having a Standard and Poors Issuer Credit rating of AA- or above (an “Approved Bank”). All amounts held by the Trustee pursuant to this Indenture shall be held by the Trustee pursuant to the term of this Indenture and shall not give rise to a debtor-creditor or other similar relationship. Alternatively any monies held by the Trustee, which, under the trusts of this Indenture may be on deposit with the Trustee or which may be in the hands of the Trustee, may be invested and reinvested in the name or under the control of the Trustee in securities in which, under the laws any of the Province securities, accounts, notes certificates and deposits described in paragraphs (b) and (c) of British Columbia, trustees are authorized to invest trust monies, provided that such securities are expressed to mature within two years or such shorter period selected to facilitate any payments expected to be made under this Indenture, after their purchase by the Trusteedefinition of “Cash Equivalents”, and unless and until the Trustee shall have declared all Deemed Value Payments and the principal payment of and premium (if any) and interest on the Debentures Deemed Value of the Gold Quantity represented by the Notes to be due and payable, the Trustee shall so invest such monies pursuant to an Issuer Order given no later than 10:00 a. m. (Toronto time) on the day on which the investment is to be made and specifying the specific name of the Cash Equivalent, the amount to be invested and any other information requested by the Trustee. Any such direction received by the Trustee after 10:00 a.m. (Toronto time) or received on a day that is not a Business Day, shall be deemed to have been given prior to 10:00 a.m. (Toronto time) the next Business Day. Pending the investment of any monies as hereinbefore provided, such monies may be deposited in the name of the Trustee in any chartered bank of Canada (an “Approved Bank”), with the consent of the Issuer (not to be unreasonably withheld), in the deposit department of the Trustee or any other loan or trust company authorized to accept deposits under the laws of Canada or any province thereof at the Written Direction rate of the Corporation given in a reasonably timely mannerinterest, if any, then current on similar deposits. The amounts held by the Trustee pursuant to this Indenture or invested are at the sole risk of Corporation the Issuer and, without limiting the generality of the foregoing, the Trustee shall have no responsibility or liability for any diminution of the monies funds which may result from any deposit made in accordance with an Approved Bank or invested pursuant to this SectionIndenture, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and ), including any credit or other losses on any deposit investment liquidated or sold prior to maturitymaturity in order to make a payment required hereunder. The parties hereto acknowledge and agree that the Trustee will have acted prudently in depositing the monies funds at any Approved Bank. Pending instructions , and that the Trustee is not required to investment make any further inquiries in respect of any monies as hereinbefore provided, such monies may be deposited in bank. (b) Unless and until the name Trustee shall have declared all Deemed Value Payments and the payment of interest on the Deemed Value of the Gold Quantity represented by the Noted to be due and payable, the Trustee at Approved Bank and with shall pay over to the Issuer all interest payable at the usual rate of interest provided received by the Trustee atin respect of any investments or deposits made pursuant to the provisions of this Section 10.9. (c) Notwithstanding any other provision of this Indenture, and whether such losses or damages are foreseeable or unforeseeable, the Trustee shall not be held liable to account under any circumstances for any (i) breach by any other party of applicable securities laws and regulations, (ii) for any profit or loss of profit to any parties to this Indenture or to any other person or entity other than at a rate, if any, then current on established from time to time by the Trustee, and or (iii) punitive, indirect, incidental, exemplary, aggravated, consequential or special damages; or (iv) for any losses incurred in the investment or sale of any monies or securities. All amounts held by the Trustee pursuant to this Indenture shall be held by the Trustee for the Issuer and the delivery of the funds to the Trustee shall not give rise to a debtor-creditor or other similar depositsrelationship. (d) Any liability of the Trustee shall be limited, in the aggregate, to the amount of annual retainer fees paid by the Issuer to the Trustee under this Indenture in the 12 months immediately prior to the Trustee receiving the first notice of the claim.

Investment of Monies Held by Trustee. (a) Unless otherwise provided in this Indenture, until released in accordance with this Indenture, monies held by Trustee shall be kept segregated in the records of the Trustee and shall be deposited in one or more interest-bearing trust accounts to be maintained by the Trustee in the name of the Trustee at one or more banks having a Standard and Poors Issuer Credit rating of AA- or above (an “Approved Bank”). All amounts held by the Trustee pursuant to this Indenture shall be held by the Trustee pursuant to the term of this Indenture and shall not give rise to a debtor-creditor or other similar relationship. Alternatively any monies held by the Trustee, which, under the trusts of this Indenture may or ought to be invested or which may be on deposit with the Trustee or which may be in the hands of the Trustee, may be invested and reinvested in the name or under the control of the Trustee in securities in which, under the laws any of the Province securities, accounts, notes certificates and deposits described in paragraphs (b) and (c) of British Columbia, trustees are authorized to invest trust monies, provided that such securities are expressed to mature within two years or such shorter period selected to facilitate any payments expected to be made under this Indenture, after their purchase by the Trusteedefinition of “Cash Equivalents”, and unless and until the Trustee shall have declared the principal of and premium (if any) of, Premium and interest on the Debentures to be due and payable, the Trustee shall so invest such monies at pursuant to an Issuer Order given no later than 10:00 a.m. (Toronto time) on the Written Direction day on which the investment is to be made and specifying the specific name of the Corporation given in a reasonably timely mannerCash Equivalent, its CUSIP or ISIN, the amount to be invested and any other information requested by the Trustee. The amounts held Any such direction received by the Trustee pursuant after 10:00 a.m. (Toronto time) or received on a day that is not a Business Day, shall be deemed to this Indenture or invested are at the sole risk of Corporation and, without limiting the generality of the foregoing, the Trustee shall have no responsibility or liability for any diminution of the monies which may result from any deposit made with an Approved Bank or invested pursuant to this Section, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposit liquidated or sold been given prior to maturity. The parties hereto acknowledge and agree that 10:00 a.m. (Toronto time) the Trustee will have acted prudently in depositing the monies at any Approved Banknext Business Day. Pending instructions to the investment of any monies as hereinbefore provided, such monies may be deposited in the name of the Trustee at Approved Bank and in any chartered bank of Canada or any of their Affiliates or, with interest payable the consent of the Issuer, in the deposit department of the Trustee or any other loan or trust company authorized to accept deposits under the laws of Canada or any province thereof at the usual rate of interest provided by the Trustee atinterest, if any, then current on similar deposits. (b) Unless and until the Trustee shall have declared the principal of, Premium and interest on any Debentures to be due and payable, the Trustee shall pay over to the Issuer all interest received by the Trustee in respect of any investments or deposits made pursuant to the provisions of this Section 10.9. (c) The Trustee shall not (i) be held liable to account for any profit or loss of profit to any parties to this Indenture or to any other person or entity other than at a rate, if any, established from time to time by the Trustee, and (ii) be held liable for any losses incurred in the investment or sale of any monies or securities.

Investment of Monies Held by Trustee. Unless herein otherwise provided in this Indentureexpressly provided, until released in accordance with this Indenture, monies any of the funds held by Trustee shall be kept segregated in the records of the Trustee and shall may be deposited in one or more interest-bearing a trust accounts to be maintained by the Trustee account in the name of the Trustee at one or more banks having a Standard and Poors Issuer Credit rating of AA- or above (an “Approved Bank”). All amounts held by the Trustee pursuant to this Indenture shall be held by the Trustee pursuant to the term of this Indenture and shall not give rise to a debtor-creditor or other similar relationship. Alternatively monies held by the Trustee, which, under the trusts of this Indenture may be invested and reinvested in the name or under the control deposit department of the Trustee or in any chartered bank of Canada, which account may be non-interest bearing. Until the Trustee shall have declared the principal and interest to be due and payable, upon the written direction of the Corporation, the Trustee shall invest in its name such funds in securities in which, under the laws of the Province of British Columbia, trustees are authorized to invest trust monies, in accordance with such direction. Any direction by the Corporation to the Trustee as to the investment of the funds shall be in writing and shall be provided to the Trustee no later than 8:30 a.m. (Vancouver time) on the day on which the investment is to be made. Any such direction received by the Trustee after 8:30 a.m. (Vancouver time) or received on a non-Business Day, shall be deemed to have been given prior to 8:30 a.m. (Vancouver time) the next Business Day. In the event that the Trustee does not receive a direction or only a partial direction, the Trustee may hold cash balances constituting part or all of the funds and may, but need not, invest same in its deposit department or the deposit department of one of its affiliates; provided that such securities are expressed the Trustee and its affiliates shall not be liable to mature within two years account for any profit to any parties to this Indenture or such shorter period selected to facilitate any payments expected person or entity other than at a rate, if any, established from time to be made under this Indenture, after their purchase time by the Trustee, and unless . Unless and until the Trustee shall have declared the principal of and premium interest (and premium, if any) and interest on the Debentures Notes to be due and payable, the Trustee shall so invest such monies at the Written Direction of pay over to the Corporation given in a reasonably timely manner. The amounts held all interest received by the Trustee pursuant with respect to any investments or deposits made subject to the provisions of this Section. The Trustee will bear no liability for monies deposited other than with the Trustee. The Trustee will disburse monies according to this Indenture or invested are at only to the sole risk of Corporation and, without limiting the generality of the foregoing, the Trustee shall extent that monies have no responsibility or liability for any diminution of the monies which may result from any deposit made been deposited with an Approved Bank or invested pursuant to this Section, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposit liquidated or sold prior to maturity. The parties hereto acknowledge and agree that the Trustee will have acted prudently in depositing the monies at any Approved Bank. Pending instructions to investment of any monies as hereinbefore provided, such monies may be deposited in the name of the Trustee at Approved Bank and with interest payable at the usual rate of interest provided by the Trustee at, if any, then current on similar depositsit.

Investment of Monies Held by Trustee. Unless otherwise provided in this Indenture, until released in accordance with this Indenture, monies held by Trustee shall be kept segregated in the records of the Trustee and shall be deposited in one or more interest-bearing trust accounts to be maintained by the Trustee in the name of the Trustee at one or more banks having a Standard and Poors Issuer Credit rating of AA- or above listed in Schedule E (an “Approved Bank”). All amounts held by the Trustee pursuant to this Indenture shall be held by the Trustee pursuant to the term of this Indenture and shall not give rise to a debtor-creditor or other similar relationship. Alternatively monies held by the Trustee, which, under the trusts of this Indenture may be invested and reinvested in the name or under the control of the Trustee in securities in which, under the laws of the Province of British Columbia, trustees are authorized to invest trust monies, ; provided that such securities are expressed to mature within two years or such shorter period selected to facilitate any payments expected to be made under this Indenture, after their purchase by the Trustee, and unless and until the Trustee shall have declared the principal of and premium (if any) and interest on the Debentures Notes to be due and payable, the Trustee shall so invest such monies at the Written Direction of the Corporation given in a reasonably timely manner. The amounts held by the Trustee pursuant to this Indenture or invested are at the sole risk of Corporation and, without limiting the generality of the foregoing, the Trustee shall have no responsibility or liability for any diminution of the monies which may result from any deposit made with an Approved Bank or invested pursuant to this SectionSection 13.8, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposit liquidated or sold prior to maturity. The parties hereto acknowledge and agree that the Trustee will have acted prudently in depositing the monies at any Approved Bank. Pending instructions to investment of any monies as hereinbefore provided, such monies may be deposited in the name of the Trustee at an Approved Bank and with interest payable at the usual rate of interest then provided by the Trustee atTrustee, if any, then current on similar deposits.