Common use of Location of Physical Gold Clause in Contracts

Location of Physical Gold. Unless otherwise agreed between the parties, Physical Gold must be held by the Custodian at its London vault premises or, when Physical Gold has been allocated on a temporary basis in a vault other than the Custodian’s London vault by any Sub-Custodian employed by the Custodian pursuant to clause 8.1. The Custodian agrees that it shall use, or where applicable procure any Sub-Custodian to use, commercially reasonable efforts promptly to transport any Physical Gold held for the Trustee to its London vault premises at the Custodian’s cost and risk. The Custodian agrees that all delivery and packing shall be in accordance with the Rules and LBMA good market practices.

Location of Physical Gold. Unless otherwise agreed between the parties, Physical Gold must be held by the Custodian at its London vault premises or, when Physical Gold has been allocated on to a temporary basis in a vault other than the Custodian’s London vault by any Sub-Custodian employed by the Custodian on a temporary basis pursuant to clause 8.1, in such Sub-Custodian’s London vault. The Custodian agrees that it shall use, or where applicable procure any Sub-Custodian to use, commercially reasonable efforts promptly to transport any Physical Gold held for the Trustee Trust to its London vault premises at the Custodian’s cost and risk. The Custodian agrees that all delivery and packing shall be in accordance with the Rules and LBMA good market practices.