Recovery from Trust. Amounts payable pursuant to this clause 9 shall not be debited from the Trust Allocated Account, but shall be payable on behalf of the Trust, and the Custodian hereby acknowledges that it will have no recourse against Gold standing to the credit of the Trust Allocated Account or to the Trustee individually in respect of any such amounts.
Appears in 5 contracts
Samples: Allocated Account Agreement, Depositary Trust Agreement (Merk Gold Trust), Depositary Trust Agreement (Merk Gold Trust)
Recovery from Trust. Amounts payable pursuant to this clause 9 shall not be debited from the Trust Allocated Unallocated Account, but shall be payable on behalf of the Trust, and the Custodian hereby acknowledges that it will have no recourse against Gold standing to the credit of the Trust Allocated Unallocated Account or to the Trustee individually in respect of any such amounts.
Appears in 5 contracts
Samples: Unallocated Account Agreement, Depositary Trust Agreement (Merk Gold Trust), Unallocated Account Agreement (Merk Gold Trust)
