No Certificates. Upon issuance of Units, a book-entry only certificate representing the Units shall be deposited initially with CDS, DTC or their nominees. Subject to termination of the CDS or DTC book-entry only system by the Manager, beneficial Unitholders will not be entitled to receive a certificate or other instrument representing Units or evidencing beneficial ownership of Units from the Manager, the Registrar and Transfer Agent, CDS, DTC or any other Person and the ownership of Units shall be evidenced solely and conclusively by the Register. If the Manager determines to terminate the CDS or DTC book-entry only system, the Manager shall cause certificates evidencing the Units to be issued and delivered to the Unitholders shown on the Register as of the effective date of such termination, such certificates to be prepared in compliance with all Applicable Laws to the same extent as if the Trust were a CBCA Corporation.
Appears in 9 contracts
Samples: Trust Agreement (Sprott Physical Silver Trust), Trust Agreement (Sprott Physical Gold Trust), Trust Agreement (Sprott Physical Platinum & Palladium Trust)
