Common use of Specification of Bullion Clause in Contracts

Specification of Bullion. The Custodian may specify the serial numbers of the bars to be withdrawn once it receives instructions from the Trustee to effect a withdrawal of Bullion pursuant to clause 4.1. The Custodian is entitled to select the Bullion to be made available to the Trustee; provided, however, that to the extent the Trustee provides specific serial numbers of bars for gold or silver and plates for platinum or palladium to be so selected, the Custodian will take reasonable efforts to select such Bullion as specified by the Trustee. The Custodian shall select Bullion in such ratio of gold, silver, platinum and palladium as designated by the Trustee. The Custodian may require more than two London/Zurich Business Days prior notice in the event that the Trustee does specify the serial numbers of bars to be withdrawn.

Specification of Bullion. The Custodian may specify the serial numbers of the bars to be withdrawn once it receives instructions from the Trustee to effect a withdrawal of Bullion pursuant to clause 4.1. The Custodian is entitled to select the Bullion to be made available to the Trustee; provided, however, that to the extent the Trustee provides specific serial numbers of bars for gold or silver and plates for platinum or palladium to be so selected, the Custodian will take reasonable efforts to select such Bullion as specified by the Trustee. The Custodian shall select Bullion in such ratio of gold, silver, platinum and palladium as designated by the Trustee. The Custodian may require more than two London/Zurich Business Days prior notice in the event that the Trustee does specify the serial numbers of bars to be withdrawn.