Procedure and instructions Sample Clauses
The "Procedure and instructions" clause defines the process and specific steps that parties must follow to carry out certain actions or obligations under the agreement. It typically outlines who is responsible for initiating procedures, how instructions are to be communicated, and any required formats or timelines for compliance. For example, it may specify that instructions must be given in writing or that certain procedures must be completed before a deadline. This clause ensures that all parties have a clear understanding of the required actions and the correct way to perform them, thereby reducing confusion and minimizing the risk of disputes arising from miscommunication or procedural errors.
Procedure and instructions. We will transfer Bullion from your Allocated Account to such persons and at such times as specified in your instructions to us and not otherwise. Unless you instruct us otherwise, we will transfer Bullion from your Allocated Account only by debiting Bullion from your Allocated Account and crediting the Bullion to your Unallocated Account. When you instruct us in accordance with clause 4.4, we will transfer Bullion from your Allocated Account by debiting Bullion from your Allocated Account and making such Bullion available for collection or delivery as provided in clause 4.4. All instructions to transfer Bullion from your Allocated Account must:
(a) in the normal course, be received by us no later than 9:00 a.m. (London time) on (i) the day that is two Business Days prior to the Withdrawal Date or (ii), in the case of a transfer of Bullion to your Unallocated Account in connection with a redemption of Trust shares that has been held open one Business Day, on the Withdrawal Date, unless we otherwise agree;
(b) specify (i) the minimum number of fine ounces of Bullion to be debited from your Allocated Account and (ii), if you are identifying the Bullion to be debited, the serial numbers of the Bullion to be debited; and
(c) provide any other information which we may from time to time require, including, where applicable, the name of the person that will collect the Bullion from us or, if applicable, to whom we are to deliver it, and the Withdrawal Date.