Common use of Submission of a Delivery Application Clause in Contracts

Submission of a Delivery Application. A Delivery Applicant wishing to take Delivery of physical gold must submit to the Sponsor a Delivery Application along with the applicable processing and delivery fees and any applicable taxes and governmental charges. Upon the pre-approval of the Delivery Application by the Sponsor, which may be withheld by the Sponsor for any reason, in its sole discretion at any time or from time to time, such approval to be indicated by the Sponsor on the Delivery Application, the Sponsor shall (i) send a copy of the Delivery Application to the Trustee, (ii) return a copy of the Delivery Application to the Delivery Applicant and (iii) remit the Trustee’s portion of the processing fees to the Trustee. Upon receiving pre-approval from the Sponsor, the Delivery Applicant, acting by or through a DTC Participant, shall cause the Delivery Applicant’s Shares to be Surrendered to the Trustee pursuant to the procedures of the Depository by no later than 3:59:59 p.m. (New York time) on the designated Business Day according to the instructions in the Delivery Application. The date of such transfer, whether designated as the share submission day in the Delivery Application or within the applicable grace period specified in the Delivery Application, is deemed the “Share Submission Day.” Additionally, the DTC Participant or Indirect Participant through which the Delivery Applicant maintains an account holding custody of the Delivery Applicant’s Shares, shall provide the Trustee with a written instruction to deliver (i) a number of Fine Ounces of gold not exceeding that represented by the Delivery Applicant’s Surrendered Shares as determined for the Share Submission Day and (ii) the cash proceeds of gold represented by the Delivery Applicant’s Surrendered Shares as determined for the Share Submission Day which exceeds the Fine Ounces of gold to be delivered (the “Cash Proceeds”), pursuant to the specifications in the pre-approved Delivery Application which shall accompany the instruction. The Trustee is authorized to rely without inquiry on such instruction (including the information contained in any Delivery Application approved by the Sponsor submitted with the instruction) and to presume without further inquiry that the Person delivering such instruction is authorized to do so.

Submission of a Delivery Application. A Delivery Applicant wishing to take Take Delivery of physical gold Gold Bullion must submit to the Sponsor a Delivery Application along with the applicable processing and delivery fees and any applicable taxes and governmental charges. Upon the pre-approval of the Delivery Application by the Sponsor, which approval may be withheld by the Sponsor for any reason, in its sole discretion at any time or from time to time, such approval to be indicated by the Sponsor on the Delivery Application, the Sponsor shall (i) send a copy of the Delivery Application to the Trustee, (ii) return a copy of the Delivery Application to the Delivery Applicant by or through the Delivery Applicant’s DTC Participant or Indirect Participant and (iii) remit the Trustee’s portion of the processing fees to the Trustee. Upon receiving pre-approval from the Sponsor, the Delivery Applicant, acting by or through a DTC Participant, shall cause the Delivery Applicant’s Shares to be Surrendered to the Trustee pursuant to the procedures of the Depository by no later than 3:59:59 p.m. (New York time) on the designated Business Day according to the instructions in the Delivery Application. The date of such transfer, whether designated as the share submission day in the Delivery Application or within the applicable grace period specified in the Delivery Application, transfer is deemed the “Share Submission Day.” Additionally, the DTC Participant or Indirect Participant through which the Delivery Applicant maintains an account holding custody of the Delivery Applicant’s Shares, shall provide the Trustee with a written instruction to deliver (i) a number of Fine Ounces of gold Gold Bullion not exceeding that represented by the Delivery Applicant’s Surrendered Shares as determined by the Trustee for the Share Submission Day and (ii) the cash proceeds of gold Gold represented by the Delivery Applicant’s Surrendered Shares as determined for the Share Submission Day which exceeds the Fine Ounces of gold Gold Bullion to be delivered (the “Cash Proceeds”), pursuant to the specifications in the pre-approved Delivery Application which shall accompany the instruction. The Trustee is authorized to rely without inquiry on such instruction (including the information contained in any Delivery Application approved by the Sponsor submitted with the instruction) and to presume without further inquiry that the Person delivering such instruction is authorized to do so.