Common use of Suspension of Redemption Right Clause in Contracts

Suspension of Redemption Right. (a) The Trust may suspend the right of Unitholders to request a redemption of their Units or postpone the date of delivery or payment of the redemption proceeds (whether Gold Coins and/or cash, as the case may be) with the prior approval of Canadian Securities Authorities having jurisdiction for any period during which the Trust determines that conditions exist which render impractical the sale of assets of the Trust or which impair the ability of the Trust or the Valuation Agent to determine the Net Asset Value of the Trust and the Net Asset Value per Unit or the redemption amount for the Units. During any such period of suspension, the Trust shall not issue or redeem any Units. (b) In the event of any such suspension, the Trust shall issue a press release, and publicly file such press release with the SEC via the Xxxxx system and on SEDAR, announcing the suspension and shall advise all agents of the Trust, as applicable. The suspension may apply to all requests for redemption received prior to the suspension, but as for which payment has not been made, as well as to all requests received while the suspension is in effect. All Unitholders making such requests shall be advised of the suspension and that the redemption shall be effected at a price determined on the first Valuation Date that the Net Asset Value per Unit is calculated following the termination of the suspension. All such Unitholders shall have, and shall be advised that during such suspension of redemptions that they have, the right to withdraw their requests for redemption. The suspension shall terminate in any event on the first Business Day on which the condition giving rise to the suspension has ceased to exist or when the Trust has determined that such condition no longer exists, provided that no other condition under which a suspension is authorized then exists, at which time the Trust shall issue a press release announcing the termination of the suspension and shall advise all agents of the Trust, as applicable. Subject to applicable Securities Legislation, any declaration of suspension made by the Trust shall be conclusive. (c) During any period in which the right of Unitholders to request a redemption of their Units for Gold Coins and/or cash, as the case may be, is suspended, the Trust may direct the Valuation Agent to suspend the calculation of the Net Asset Value of the Trust and the Net Asset Value per Unit in the event a market value for Gold Coins held by the Trust is not available.

Suspension of Redemption Right. (a) The Trust Manager, on behalf of the Trust, may suspend the right of Unitholders to request a redemption of their Units or postpone the date of delivery or payment of the redemption proceeds (whether Gold Coins Silver Bullion and/or cash, as the case may be) with the prior approval of Canadian Securities Authorities having jurisdiction jurisdiction, where required, for any period during which the Trust Manager determines that conditions exist which render impractical the sale of assets of the Trust or which impair the ability of the Trust or the Valuation Agent Manager to determine the Net Asset Value of the Trust and the Net Asset Value per Unit or the redemption amount for the Units. During any such period of suspension, the Trust shall not issue or redeem any Units. (b) In the event of any such suspension, the Trust Manager shall issue a press release, and publicly file such press release with the SEC via the Xxxxx system and on SEDAR, announcing the suspension and shall advise all the Trustee, the Valuation Agent and any other agents of appointed by the TrustManager, as applicable. The suspension may apply to all requests for redemption received prior to the suspension, but as for which payment has not been made, as well as to all requests received while the suspension is in effect. All Unitholders making such requests shall be advised by the Manager of the suspension and that the redemption shall be effected at a price determined on the first Valuation Date that the Net Asset Value per Unit is calculated following the termination of the suspension. All such Unitholders shall have, and shall be advised that during such suspension of redemptions that they have, the right to withdraw their requests for redemption. The suspension shall terminate in any event on the first Business Day on which the condition giving rise to the suspension has ceased to exist or when the Trust Manager has determined that such condition no longer exists, provided that no other condition under which a suspension is authorized then exists, at which time the Trust Manager shall issue a press release announcing the termination of the suspension and shall advise all the Trustee, the Valuation Agent and any other agents of appointed by the TrustManager, as applicable. Subject to applicable Securities Legislation, any declaration of suspension made by the Trust Manager, on behalf of the Trust, shall be conclusive. (c) During any period in which the right of Unitholders to request a redemption of their Units for Gold Coins Silver Bullion and/or cash, as the case may be, cash is suspended, the Trust may Manager, on behalf of the Trust, shall direct the Valuation Agent to suspend the calculation of the Net Asset Value of the Trust and Trust, the Net Asset Value per Unit, the Class Net Asset Value and the Class Net Asset Value per Unit for each class or series of a class of Units. During any such period of suspension, the Trust shall not issue or redeem any Units. As noted above, in the event of any such suspension or termination thereof, the Manager shall issue a market value for Gold Coins held by press release announcing the Trust is not availablesuspension or the termination of such suspension, as the case may be.

Suspension of Redemption Right. (a) The Trust Manager, on behalf of the Trust, may suspend the right of Unitholders to request a redemption of their Units or postpone the date of delivery or payment of the redemption proceeds (whether Gold Coins Bullion and/or cash, as the case may be) with the prior approval of Canadian Securities Authorities having jurisdiction jurisdiction, where required, for any period during which the Trust Manager determines that conditions exist which render impractical the sale of assets of the Trust or which impair the ability of the Trust or the Valuation Agent Manager to determine the Net Asset Value of the Trust and the Net Asset Value per Unit or the redemption amount for the Units. During any such period of suspension, the Trust shall not issue or redeem any Units. (b) In the event of any such suspension, the Trust Manager shall issue a press release, and publicly file such press release with the SEC via the Xxxxx system and on SEDAR, announcing the suspension and shall advise all the Trustee, the Valuation Agent and any other agents of appointed by the TrustManager, as applicable. The suspension may apply to all requests for redemption received prior to the suspension, but as for which payment has not been made, as well as to all requests received while the suspension is in effect. All Unitholders making such requests shall be advised by the Manager of the suspension and that the redemption shall be effected at a price determined on the first Valuation Date that the Net Asset Value per Unit is calculated following the termination of the suspension. All such Unitholders shall have, and shall be advised that during such suspension of redemptions that they have, the right to withdraw their requests for redemption. The suspension shall terminate in any event on the first Business Day on which the condition giving rise to the suspension has ceased to exist or when the Trust Manager has determined that such condition no longer exists, provided that no other condition under which a suspension is authorized then exists, at which time the Trust Manager shall issue a press release announcing the termination of the suspension and shall advise all the Trustee, the Valuation Agent and any other agents of appointed by the TrustManager, as applicable. Subject to applicable Securities Legislation, any declaration of suspension made by the Trust Manager, on behalf of the Trust, shall be conclusive. (c) During any period in which the right of Unitholders to request a redemption of their Units for Gold Coins Bullion and/or cash, as the case may be, cash is suspended, the Trust may Manager, on behalf of the Trust, shall direct the Valuation Agent to suspend the calculation of the Net Asset Value of the Trust and Trust, the Net Asset Value per Unit, the Class Net Asset Value and the Class Net Asset Value per Unit for each class or series of a class of Units. During any such period of suspension, the Trust shall not issue or redeem any Units. As noted above, in the event of any such suspension or termination thereof, the Manager shall issue a market value for Gold Coins held by press release announcing the Trust is not availablesuspension or the termination of such suspension, as the case may be.

Suspension of Redemption Right. (a) The Trust Manager, on behalf of the Trust, may suspend the right of Unitholders to request a redemption of their Units or postpone the date of delivery or payment of the redemption proceeds (whether Gold Coins Bullion and/or cash, as the case may be) with the prior approval of Canadian Securities Authorities having jurisdiction jurisdiction, where required, for any period during which the Trust Manager determines that conditions exist which render impractical the sale of assets of the Trust or which impair the ability of the Trust or the Valuation Agent Manager to determine the Net Asset Value of the Trust and the Net Asset Value per Unit or the redemption amount for the Units. During any such period of suspension, the Trust shall not issue or redeem any Units. (b) In the event of any such suspension, the Trust Manager shall issue a press release, and publicly file such press release with the SEC via the Xxxxx system and on SEDAR, announcing the suspension and shall advise all the Trustee, the Valuation Agent and any other agents of appointed by the TrustManager, as applicable. The suspension may apply to all requests for redemption received prior to the suspension, but as for which payment has not been made, as well as to all requests received while the suspension is in effect. All Unitholders making such requests shall be advised by the Manager of the suspension and that the redemption shall be effected at a price determined on the first Valuation Date that the Net Asset Value per Unit is calculated following the termination of the suspension. All such Unitholders shall have, and shall be advised that during such suspension of redemptions that they have, the right to withdraw their requests for redemption. The suspension shall terminate in any event on the first Business Day on which the condition giving rise to the suspension has ceased to exist or when the Trust Manager has determined that such condition no longer exists, provided that no other condition under which a suspension is authorized then exists, at which time the Trust Manager shall issue a press release announcing the termination of the suspension and shall advise all the Trustee, the Valuation Agent and any other agents of appointed by the TrustManager, as applicable. Subject to applicable Securities Legislation, any declaration of suspension made by the Trust Manager, on behalf of the Trust, shall be conclusive. (c) During any period in which the right of Unitholders to request a redemption of their Units for Gold Coins Bullion and/or cash, as the case may be, cash is suspended, the Trust may Manager, on behalf of the Trust, shall direct the Valuation Agent to suspend the calculation of the Net Asset Value of the Trust and Trust, the Net Asset Value per Unit, the Class Net Asset Value and the Class Net Asset Value per Unit for each class or series of a class of Units. During any such period of suspension, the Trust shall not issue or redeem any Units. As noted above, in the event of any such suspension or termination thereof, the Manager shall issue a market value for Gold Coins held by press release announcing the Trust is not availablesuspension or the termination of such suspension, as the case may be.

Suspension of Redemption Right. (a) The Trust Manager, on behalf of the Trust, may suspend the right of Unitholders to request a redemption of their Units or postpone the date of delivery or payment of the redemption proceeds (whether Gold Coins in Bullion and/or cash, as the case may be) with the prior approval of Canadian Securities Authorities having jurisdiction jurisdiction, where required, for any period during which the Trust Manager determines that conditions exist which render impractical the sale of assets of the Trust or which impair the ability of the Trust or the Valuation Agent Manager to determine the Net Asset Value of the Trust and the Net Asset Value per Unit or the redemption amount for the Units. During any such period of suspension, the Trust shall not issue or redeem any Units. (b) In the event of any such suspension, the Trust Manager shall issue a press release, and publicly file such press release with the SEC via the Xxxxx system and on SEDAR, announcing the suspension and shall advise all the Trustee, the Valuation Agent and any other agents of appointed by the TrustManager, as applicable. The suspension may apply to all requests for redemption received prior to the suspension, but as for which payment has not been made, as well as to all requests received while the suspension is in effect. All Unitholders making such requests shall be advised by the Manager of the suspension and that the redemption shall be effected at a price determined on the first Valuation Date that the Net Asset Value per Unit is calculated following the termination of the suspension. All such Unitholders shall have, and shall be advised that during such suspension of redemptions that they have, the right to withdraw their requests for redemption. The suspension shall terminate in any event on the first Business Day on which the condition giving rise to the suspension has ceased to exist or when the Trust Manager has determined that such condition no longer exists, provided that no other condition under which a suspension is authorized then exists, at which time the Trust Manager shall issue a press release announcing the termination of the suspension and shall advise all the Trustee, the Valuation Agent and any other agents of appointed by the TrustManager, as applicable. Subject to applicable Securities Legislation, any declaration of suspension made by the Trust Manager, on behalf of the Trust, shall be conclusive. (c) During any period in which the right of Unitholders to request a redemption of their Units for Gold Coins and/or cash, as the case may be, Bullion or cash is suspended, the Trust may Manager, on behalf of the Trust, shall direct the Valuation Agent to suspend the calculation of the Net Asset Value of the Trust and Trust, the Net Asset Value per Unit, the Class Net Asset Value and the Class Net Asset Value per Unit for each class or series of a class of Units. During any such period of suspension, the Trust shall not issue or redeem any Units. As noted above, in the event of any such suspension or termination thereof, the Manager shall issue a market value for Gold Coins held by press release announcing the Trust is not availablesuspension or the termination of such suspension, as the case may be.

Suspension of Redemption Right. (a) The Trust Subject to applicable Securities Legislation, the Manager may direct the Registrar and Transfer Agent, with notice to the Trustee, to suspend the right of Unitholders to request a redemption of their Units for Gold Bullion or postpone the date delivery of delivery or Gold Bullion and payment of any cash to be paid in connection with such redemption (i) for the redemption proceeds whole or any part of a period during which normal trading is suspended on the London Metals Exchange or during which a banking moratorium for banks in Toronto, Ontario or New York, New York is in effect; or (whether Gold Coins and/or cash, as the case may beii) with the prior approval of Canadian Securities Authorities having jurisdiction for any period not exceeding 120 days during which access to the Trust’s Gold Bullion is restricted, such as due to an act of God, a natural disaster or an outbreak of hostilities, or during which the Trust determines Manager determines, in its sole discretion, that conditions exist which render impractical the sale of assets of the Trust Gold Bullion or which impair the ability of the Trust or the Valuation Agent Manager to determine the Net Asset Value value of the Trust and the Net Asset Value per Unit or the redemption amount for the Units. During any such period of suspension, the Trust shall not issue or redeem any UnitsGold Bullion. (b) Subject to applicable Securities Legislation, the Manager may direct the Registrar and Transfer Agent, with notice to the Trustee, to suspend the redemption of Units for cash or payment of such redemption proceeds (i) for the whole or any part of a period during which normal trading is suspended on the London Metals Exchange or during which a banking moratorium for banks in Toronto, Ontario or New York, New York is in effect; or (ii) for any period not exceeding 120 days during which the Manager determines, in its sole discretion, that conditions exist which render impractical the sale of the Trust Property or which impair the ability of the Manager to determine the value of the Trust Property. (c) In the event of any such suspensionsuspension pursuant to subsections 6.6(a) or (b), the Trust shall Manager will issue a press release, and publicly file such press release with the SEC via the Xxxxx system and on SEDAR, announcing the suspension and shall advise all agents of the Trust, as applicable. suspension. (d) The suspension may apply to all requests for redemption received prior to the suspension, but as for which payment has not been made, as well as to all requests received while the suspension is in effect. All Unitholders making such requests shall be advised by the Manager of the suspension and that the redemption shall will be effected at a price determined as at the Valuation Time on the first Valuation Quarterly Redemption Date that in respect of Gold Bullion redemption requests or the Net Asset Value per Unit is calculated first Monthly Redemption Date in respect of cash redemption requests, as applicable, following the termination of the suspension. All such Unitholders shall have, and shall be advised that during such suspension of redemptions that they have, the right to withdraw their requests for redemption. The suspension shall terminate in any event on the first Business Day on which the condition giving rise to the suspension has ceased to exist or when where the Trust has Manager had determined that such condition conditions no longer existsexist, provided that no other condition under which a suspension is authorized then exists, at which time the Trust shall Manager will issue a press release announcing the termination of the suspension and shall advise all agents of the Trust, as applicablesuspension. Subject to applicable Securities LegislationApplicable Laws, any declaration of suspension made by the Trust Manager shall be conclusive. (c) During any period in which the right of Unitholders to request a redemption of their Units for Gold Coins and/or cash, as the case may be, is suspended, the Trust may direct the Valuation Agent to suspend the calculation of the Net Asset Value of the Trust and the Net Asset Value per Unit in the event a market value for Gold Coins held by the Trust is not available.

Suspension of Redemption Right. (a) The Trust Manager, on behalf of the Trust, may suspend the right of Unitholders to request a redemption of their Units or postpone the date of delivery or payment of the redemption proceeds (whether Gold Coins in Bullion and/or cash, as the case may be) with the prior approval of Canadian Securities Authorities having jurisdiction jurisdiction, where required, for any period during which the Trust Manager determines that conditions exist which render impractical the sale of assets of the Trust or which impair the ability of the Trust or the Valuation Agent Manager to determine the Net Asset Value of the Trust and the Net Asset Value per Unit or the redemption amount for the Units. During any such period of suspension, the Trust shall not issue or redeem any Units. (b) In the event of any such suspension, the Trust Manager shall issue a press release, and publicly file such press release with the SEC via the Xxxxx system and on SEDAR, announcing the suspension and shall advise all the Trustee, the Valuation Agent and any other agents of appointed by the TrustManager, as applicable. The suspension may apply to all requests for redemption received prior to the suspension, but as for which payment has not been made, as well as to all requests received while the suspension is in effect. All Unitholders making such requests shall be advised by the Manager of the suspension and that the redemption shall be effected at a price determined on the first Valuation Date that the Net Asset Value per Unit is calculated following the termination of the suspension. All such Unitholders shall have, and shall be advised that during such suspension of redemptions that they have, the right to withdraw their requests for redemption. The suspension shall terminate in any event on the first Business Day on which the condition giving rise to the suspension has ceased to exist or when the Trust Manager has determined that such condition no longer exists, provided that no other condition under which a suspension is authorized then exists, at which time the Trust Manager shall issue a press release announcing the termination of the suspension and shall advise all the Trustee, the Valuation Agent and any other agents of appointed by the TrustManager, as applicable. Subject to applicable Securities Legislation, any declaration of suspension made by the Trust Manager, on behalf of the Trust, shall be conclusive. (c) During any period in which the right of Unitholders to request a redemption of their Units for Gold Coins Bullion and/or cash, as the case may be, cash is suspended, the Trust may Manager, on behalf of the Trust, shall direct the Valuation Agent to suspend the calculation of the Net Asset Value of the Trust and Trust, the Net Asset Value per Unit, the Class Net Asset Value and the Class Net Asset Value per Unit for each class or series of a class of Units. During any such period of suspension, the Trust shall not issue or redeem any Units. As noted above, in the event of any such suspension or termination thereof, the Manager shall issue a market value for Gold Coins held by press release announcing the Trust is not availablesuspension or the termination of such suspension, as the case may be.