Ownership of Gold. The Custodian will identify in its books that the Gold belongs to the Trustee (on trust for the Shareholders). The Custodian shall ensure that the Gold belonging to the Trustee (on trust for the Shareholders) shall not be pledged by the Custodian or leased to any other party and that it shall at all times be free and clear of all liens and encumbrances, whether arising by operation of law or otherwise.
Appears in 5 contracts
Samples: Trust Unallocated Account Agreement, Trust Unallocated Account Agreement (Merk Gold Trust), Depositary Trust Agreement (Merk Gold Trust)
Ownership of Gold. The Custodian will identify in its books and records that the Gold in the Trust Unallocated Metal Account belongs to the Trustee (on trust for the Shareholders). The Custodian shall ensure that the Gold belonging to the Trustee (on trust for the Shareholders) shall not be pledged by the Custodian or leased to any other party and person and, except as provided in clause 5.4, that it shall at all times be free and clear of all liens liens, charges, security interests and encumbrances, whether arising by operation of law or otherwise.
Appears in 2 contracts
Samples: Trust Unallocated Metal Account Agreement (Perth Mint Physical Gold ETF), Trust Unallocated Metal Account Agreement (Perth Mint Physical Gold ETF)
Ownership of Gold. The Custodian will identify in its books that the Gold belongs to the Trustee (on in trust for the Shareholders). The Custodian shall ensure that not loan, hypothecate, pledge or otherwise encumber any Gold held in Unallocated Account absent the Gold belonging Trustee’s written instructions to the Trustee (on trust for the Shareholders) shall not be pledged by the Custodian or leased to any other party and that it shall at all times be free and clear of all liens and encumbrances, whether arising by operation of law or otherwisecontrary.
Appears in 1 contract
Samples: Unallocated Gold Account Agreement (Goldman Sachs Physical Gold ETF)
