Common use of Location of Bullion Clause in Contracts

Location of Bullion. Subject to and in accordance with clause 8.1 and unless otherwise agreed between the parties, silver must be held by the Custodian at its London vaulting premises and platinum and palladium must be held by the Custodian at its London vaulting premises or at the Zurich Sub-Custodian’s Zurich vaulting premises. The Custodian agrees that it shall use, or where applicable procure any Sub-Custodian to use, commercially reasonable efforts promptly to transport any Bullion held for the Trustee to these locations at the Custodian’s cost and risk. The Custodian agrees that all delivery and packing shall be in accordance with the Rules and Relevant Association good market practices.

Location of Bullion. Subject to and in accordance with clause 8.1 and unless otherwise agreed between the parties, gold and silver must be held by the Custodian at its London vaulting premises and platinum and palladium must be held by the Custodian at its London vaulting premises or at the Zurich Sub-Custodian’s Zurich vaulting premises. The Custodian agrees that it shall use, or where applicable procure any Sub-Custodian to use, commercially reasonable efforts promptly to transport any Bullion held for the Trustee to these locations at the Custodian’s cost and risk. The Custodian agrees that all delivery and packing shall be in accordance with the Rules and Relevant Association good market practices.