Common use of Standing Instruction Clause in Contracts

Standing Instruction. We shall comply with the following instruction, which we acknowledge you are giving to us for execution as a standing instruction: As early as we can but in any event by the close of business (London time) on each Business Day, we will allocate to your Allocated Account all of the Bullion that remains standing to your credit in your Unallocated Account after the completion of any transfers made on that day pursuant to clause 4.1, provided that, if the overdraft facility between you and us set forth in clause 4.7 is not in effect for any reason, we will so allocate an amount of Bullion such that the amount of Bullion that remains standing to your credit in your Unallocated Account does not exceed 430 fine ounces. In order to comply with the foregoing instruction, we agree to make available to you an on demand overdraft facility as described in clause 4.7.

Standing Instruction. We shall comply with the following instruction, which we acknowledge you are each Fund is giving to us for execution as a standing instruction: As early as we can but in any event by the close of business (London time) on each Business Day, we will allocate to your a Fund’s Allocated Account all of the Bullion that remains standing to your the Fund’s credit in your its Unallocated Account after the completion of any transfers made on that day pursuant to clause 4.1, provided that, if the overdraft facility between you the Fund and us set forth in clause 4.7 is not in effect for any reason, we will so allocate an amount of Bullion such that the amount of Bullion that remains standing to your the Fund’s credit in your its Unallocated Account does not exceed 430 fine ounces. In order to comply with the foregoing instruction, we agree to make available to you each Fund an on demand overdraft facility as described in clause 4.7.