Common use of SUBSEQUENT CREATIONS AND ISSUANCE OF CREATION BASKETS Clause in Contracts

SUBSEQUENT CREATIONS AND ISSUANCE OF CREATION BASKETS. (a) After the Initial Deposit, the following procedures, as supplemented by the more detailed procedures specified in the attachment to the Participant Agreement, which may be amended from time to time in accordance with the provisions of the Participant Agreement (and any such amendment will not constitute an amendment of this Agreement), will govern the Trustee in the creation and issuance of additional Creation Baskets. Subject to the limitations upon and requirements for issuance of Creation Baskets stated herein and in such procedures, the number of Creation Baskets which may be issued by the Trust is unlimited. (i) On any Business Day, a Participant may submit a request to the Trustee to create one or more Creation Baskets (such request by a Participant, a "Purchase Order") in the manner provided in the Participant Agreement. Purchase Orders must be received by the Order Cut-Off Time on a Business Day (the "Purchase Order Date"). The Trustee will process Purchase Orders only from Participants with respect to which the Participant Agreement is in full force and effect. The Trustee and the Sponsor will each maintain and make available at their respective offices specified in Section 10.12 during normal business hours a current list of the Participants with respect to which the Participant Agreement is in full force and effect. The Sponsor directs the Trustee to deliver a copy of the Prospectus to each Participant prior to its execution and delivery of the Participant Agreement. (ii) Any Purchase Order is subject to rejection by any of the Sponsor or the Trustee pursuant to Section 2.03(e). (iii) After accepting a Participant's Purchase Order, the Trustee will issue and deliver Creation Baskets to fill a Participant's Purchase Order at or shortly after 9:00 a.m. New York time on the third Business Day after the Purchase Order Date, but only if by such time the Trustee has received (A) for its own account, the Transaction Fee, (B) for the account of the Trust the Cash Deposit, if any, and (C) notice from the Custodian (which need not be the Custodian's official report of transactions for such day) that the Custodian has received for the account of the Trust to the credit of the Trust Unallocated Account (or other Custody Account provided for in the relevant Custody Agreement), from the Participant Unallocated Account (or other account of the Participant from which Gold may be transferred to the Trust in accordance with the relevant Custody Agreement) the Creation Basket Gold Deposit Amount due from the Participant submitting the Purchase Order. (b) Upon issuing a Creation Basket pursuant to a Purchase Order of a Participant, the Trustee will deposit the Creation Basket with the Depository in accordance with the Depository's customary procedures, for credit to the account of the Participant that placed the Purchase Order. (c) The Cash Deposit ("Cash Deposit") shall be an amount of cash equal to the cash held or receivable by the Trust as of the Purchase Order Date, if any, less the fees, expenses and other liabilities of the Trust accrued through the Purchase Order Date, as computed by the Trustee under Section 5.01, divided by the number of streetTRACKS(R) Gold Shares outstanding immediately before the Purchase Order Date, and then multiplied by the number of streetTRACKS(R) Gold Shares to be created pursuant to the Participant's Purchase Order. A negative Cash Deposit amount will reduce the Creation Basket Gold Deposit Amount pursuant to Section 2.05. If, notwithstanding the provisions of Section 3.07, the Trust holds assets other than Gold, cash or cash receivables, no Purchase Orders will be accepted until such other assets have been sold or otherwise disposed of. (d) The quantity of Gold included in the Creation Basket Gold Deposit Amount will change as a result of expenses paid and expenses accrued in excess of cash then held by the Trust, and shall be determined by the Trustee in the manner specified in Section 2.

SUBSEQUENT CREATIONS AND ISSUANCE OF CREATION BASKETS. (a) After the Initial Deposit, the following procedures, as supplemented by the more detailed procedures specified in the attachment to the Participant Agreement, which may be Agreement as amended from time to time in accordance with the provisions of the Participant Agreement (and any such amendment will not constitute an amendment of this Agreement)time, will govern the Trustee in the creation and issuance of additional Creation Baskets. Subject to the limitations upon and requirements for issuance of Creation Baskets stated herein and in such procedures, the number of Creation Baskets which may be issued by the Trust is unlimited. (i) On any Business Day, a Participant may submit a request to the Trustee to create one or more Creation Baskets (such request by a Participant, a "Purchase Order") in the manner provided in the Participant Agreement. Purchase Orders must be received by the Order Cut-Off Time on a Business Day (the "Purchase Order Date"). The Trustee will process Purchase Orders only from Participants with respect to which the Participant Agreement is in full force and effect. The Trustee and the Sponsor will each maintain and make available at their respective offices specified in Section 10.12 10.09 during normal business hours hours, a current list of the Participants with respect to which the Participant Agreement is in full force and effect. The Sponsor directs the Trustee to deliver a copy of the Prospectus to each Participant prior to its execution and delivery of the Participant Agreement. (ii) Any Purchase Order is subject to rejection by any of the Sponsor or the Trustee pursuant to Section 2.03(e). (iii) After accepting a Participant's Purchase Order, the Trustee will issue and deliver Creation Baskets to fill a Participant's Purchase Order at or shortly after 9:00 a.m. New York time on the third Business Day after the Purchase Order Date, but only if by such time the Trustee has received (A) for its own account, the Transaction Fee, (B) for the account of the Trust the Cash DepositDeposit (defined below), if any, and (C) notice from the Custodian (which need not be the Custodian's official report of transactions for such day) that (i) the Custodian has received for the account of the Trust to the credit of the Trust Unallocated Account (or other Custody Account provided for in the relevant Custody Agreement), from the Participant Unallocated Account (or other account of the Participant from which Gold may be transferred to the Trust in accordance with the relevant Custody Agreement) the Creation Basket Gold Deposit Amount of Gold due from the Participant submitting the Purchase OrderOrder and (ii) that the Custodian has transferred such Gold to the Trust Allocated Account leaving a balance in the Trust Unallocated Account not exceeding the maximum fine weight of the standard measure of Gold used by the Custodian for Good Delivery in the market in which it operates, for example, 430 Fine Ounces in the London market. If the Custodian informs the Trustee that the Custodian has received for the account of the Trust to the credit of the Trust Unallocated Account (or other Custody Account provided in the relevant Custody Agreement), from the Participant Unallocated Account (or other account of the Participant from which Gold may be transferred to the Trust in accordance with the relevant Custody Agreement) the Creation Basket Gold Deposit Amount due from the Participant but the transfers of such Gold to the Trust Allocated Account have not been completed as of 9:00 a.m., New York time, on the third Business Day after the Purchase Order Date, the Trustee will so inform the Participant, and the Trustee will issue and deliver Creation Baskets to fill the Participant's Purchase Order not later than 11:00 a.m., New York time, on such day. Notwithstanding the foregoing, if the Custodian determines and advises the Trustee that there has occurred an extraordinary condition in the gold market such that the customary settlement of gold sales or delivery of gold is disrupted, the Trustee may accept in satisfaction of the Creation Basket Gold Deposit Amount of Gold due from a Participant such Participant's undertaking to deliver not later than the Custodian's close of business on the fourth Business Day following the Purchase Order Date any shortfall in the amount of Gold received for the account of the Trust Unallocated Account (or other Custody Account provided for in the relevant Custody Agreement) on account of such Creation Basket Gold Deposit Amount as of 11:00 a.m. New York time on the third Business Day after the Purchase Order Date, provided, however, that such undertaking shall be secured by the Participant's delivery of an irrevocable stand-by letter of credit in form and amount satisfactory to the Trustee. In the event the Participant fails to deliver the amount of the shortfall by the Custodian's close of business on such fourth Business Day, the Trustee shall immediately draw upon the letter of credit in full, apply the proceeds to the purchase of Gold in the shortfall amount and cause such Gold to be delivered to the Custodian for credit to the Trust Unallocated Account. Any balance of funds thereafter remaining shall be refunded to the Participant. The Trustee shall have no liability to the Participant or any other person for any loss or depreciation arising from any purchase of Gold made pursuant to the preceding sentence. (b) Upon issuing a Creation Basket pursuant to a Purchase Order of a Participant, the Trustee will deposit the Creation Basket with the Depository in accordance with the Depository's customary procedures, for credit to the account of the Participant that placed the Purchase Order. (c) The Cash Deposit ("Cash Deposit") shall be an amount of cash equal to the cash held or receivable by the Trust as of the Purchase Order Date, if any, less the fees, expenses and other liabilities of the Trust accrued through the Purchase Order Date, as computed by the Trustee under Section 5.01, divided by the number of streetTRACKS(R) Equity Gold Shares outstanding immediately before the Purchase Order Date, and then multiplied by the number of streetTRACKS(R) Equity Gold Shares to be created pursuant to the Participant's Purchase Order. A negative Cash Deposit amount will reduce the Creation Basket Gold Deposit Amount pursuant to Section 2.05. If, notwithstanding the provisions of Section 3.07, the Trust holds assets other than Gold, cash or cash receivables, no Purchase Orders will be accepted until such other assets have been sold or otherwise disposed of. (d) The quantity of Gold included in the Creation Basket Gold Deposit Amount will change as a result of expenses paid and expenses accrued in excess of cash then held by the Trust, and shall be determined by the Trustee in the manner specified in Section 2.

SUBSEQUENT CREATIONS AND ISSUANCE OF CREATION BASKETS. (a) After the Initial Deposit, the following procedures, as supplemented by the more detailed procedures specified in the attachment to the Participant Agreement, which may be amended from time to time in accordance with the provisions of the Participant Agreement (and any such amendment will not constitute an amendment of this Agreement), will govern the Trustee in the creation and issuance of additional Creation Baskets. Subject , except to the limitations upon and requirements for issuance of Creation Baskets stated herein and extent otherwise provided in such procedures, the number of Creation Baskets which Participant Agreement as it may be issued by the Trust is unlimitedamended from time to time. (i) On any Business Day, a Participant may submit a request to the Trustee to create one or more Creation Baskets (such request by a Participant, a "Purchase Order") in the manner provided in the Participant Agreement. Purchase Orders must be received by submitted after the Order Cut-Cut- Off Time on a Business Day shall be held and deemed to be received by the Trustee on the next following Business Day (the Business Day on which the Purchase Order is or is deemed to be received, the "Purchase Order Date"). The Trustee will process Purchase Orders only from Participants with respect to which the Participant Agreement is in full force and effect. The Trustee and the Sponsor will each maintain and make available at their respective offices specified in Section 10.12 10.09 during normal business hours hours, a current list of the Participants with respect to which the Participant Agreement is in full force and effect. The Sponsor directs the Trustee to deliver a copy of the Prospectus to each Participant prior to its execution and delivery of the Participant Agreement. (ii) Any Purchase Order is subject to rejection by any of the Sponsor or the Trustee pursuant to Section 2.03(e). (iii) After accepting a Participant's Purchase Order, the Trustee will issue and deliver Creation Baskets to fill a Participant's Purchase Order at or shortly after 9:00 as of 11:00 a.m. New York time on the third Business Day after the Purchase Order Date, but only if by such time the Trustee has received (A) for its own account, the Transaction Fee, (B) for the account of the Trust the Cash DepositDeposit (defined below), if any, and (C) notice from the Custodian (which need not be the Custodian's official report of transactions for such day) that the Custodian has received for the account of the Trust to the credit of the Trust Unallocated Account (or other Custody Account provided for in the relevant Custody Agreement), from the Participant Unallocated Account (or other account of the Participant from which Gold may be transferred to the Trust in accordance with the relevant Custody Agreement) the Creation Basket Gold Deposit Amount of Gold due from the Participant submitting the Purchase Order. (b) Upon issuing a Creation Basket pursuant to a Purchase Order of a Participant, the Trustee will deposit the Creation Basket with the Depository in accordance with the Depository's customary procedures, for credit to the account of the Participant that placed the Purchase Order. (c) The Cash Deposit ("Cash Deposit") shall be an amount of cash equal to the cash held or receivable by the Trust as of the Purchase Order Date, if any, less the fees, expenses and other liabilities of the Trust accrued through the Purchase Order Date, as computed by the Trustee under Section 5.01, divided by the number of streetTRACKS(R) Equity Gold Shares outstanding immediately before the Purchase Order Date, and then multiplied by the number of streetTRACKS(R) Equity Gold Shares to be created pursuant to the Participant's Purchase Order. A negative Cash Deposit amount will reduce the Creation Basket Gold Deposit Amount pursuant to Section 2.05. If, notwithstanding the provisions of Section 3.07, the Trust holds assets other than Gold, cash or cash receivables, no Purchase Orders will be accepted until such other assets have been sold or otherwise disposed of. (d) The quantity of Gold included in the Creation Basket Gold Deposit Amount will change as a result of expenses paid and expenses accrued in excess of cash then held by the Trust, and shall be determined by the Trustee in the manner specified in Section 2.

SUBSEQUENT CREATIONS AND ISSUANCE OF CREATION BASKETS. (a) After the Initial Deposit, the following procedures, as supplemented by the more detailed procedures specified in the attachment to the Participant Agreement, which may be amended from time to time in accordance with the provisions of the Participant Agreement (and any such amendment will not constitute an amendment of this Agreement), will govern the Trustee in the creation and issuance of additional Creation Baskets. Subject to the limitations upon and requirements for issuance of Creation Baskets stated herein and in such procedures, the number of Creation Baskets which may be issued by the Trust is unlimited. (i) On any Business Day, a Participant may submit a request to the Trustee to create one or more Creation Baskets (such request by a Participant, a "Purchase Order") in the manner provided in the Participant Agreement. Purchase Orders must be received by the Order Cut-Off Time on a Business Day (the "Purchase Order Date"). The Trustee will process Purchase Orders only from Participants with respect to which the Participant Agreement is in full force and effect. The Trustee and the Sponsor will each maintain and make available at their respective offices specified in Section 10.12 10.11 during normal business hours a current list of the Participants with respect to which the Participant Agreement is in full force and effect. The Sponsor directs the Trustee to deliver a copy of the Prospectus to each Participant prior to its execution and delivery of the Participant Agreement. (ii) Any Purchase Order is subject to rejection by any of the Sponsor or the Trustee pursuant to Section 2.03(e). (iii) After accepting a Participant's Purchase Order, the Trustee will issue and deliver Creation Baskets to fill a Participant's Purchase Order at or shortly after 9:00 a.m. New York time on the third Business Day after the Purchase Order Date, but only if by such time the Trustee has received (A) for its own account, the Transaction Fee, (B) for the account of the Trust the Cash Deposit, if any, and (C) notice from the Custodian (which need not be the Custodian's official report of transactions for such day) that the Custodian has received for the account of the Trust to the credit of the Trust Unallocated Account (or other Custody Account provided for in the relevant Custody Agreement), from the Participant Unallocated Account (or other account of the Participant from which Gold may be transferred to the Trust in accordance with the relevant Custody Agreement) the Creation Basket Gold Deposit Amount due from the Participant submitting the Purchase Order. (b) Upon issuing a Creation Basket pursuant to a Purchase Order of a Participant, the Trustee will deposit the Creation Basket with the Depository in accordance with the Depository's customary procedures, for credit to the account of the Participant that placed the Purchase Order. (c) The Cash Deposit ("Cash Deposit") shall be an amount of cash equal to the cash held or receivable by the Trust as of the Purchase Order Date, if any, less the fees, expenses and other liabilities of the Trust accrued through the Purchase Order Date, as computed by the Trustee under Section 5.01, divided by the number of streetTRACKS(R) Equity Gold Shares outstanding immediately before the Purchase Order Date, and then multiplied by the number of streetTRACKS(R) Equity Gold Shares to be created pursuant to the Participant's Purchase Order. A negative Cash Deposit amount will reduce the Creation Basket Gold Deposit Amount pursuant to Section 2.05. If, notwithstanding the provisions of Section 3.07, the Trust holds assets other than Gold, cash or cash receivables, no Purchase Orders will be accepted until such other assets have been sold or otherwise disposed of. (d) The quantity of Gold included in the Creation Basket Gold Deposit Amount will change as a result of expenses paid and expenses accrued in excess of cash then held by the Trust, and shall be determined by the Trustee in the manner specified in Section 2.