Common use of Trust Representations Clause in Contracts

Trust Representations. The Trust represents and warrants to us that (such representations and warranties being deemed to be repeated upon each occasion Bullion is credited to or debited from a Fund’s Allocated Account under this Agreement): (a) the Trust is duly constituted and validly existing under the laws of its jurisdiction of constitution; (b) the Trust has all necessary authority, powers, consents, licenses and authorizations (which have not been revoked) and has taken all necessary action to enable it lawfully to enter into and perform its duties and obligations under this Agreement; (c) the person entering into this Agreement on the Trust’s behalf has been duly authorized to do so; and (d) this Agreement and the obligations created under it constitute the Trust’s legal and valid obligations which are binding upon the Trust and enforceable against the Trust in accordance with their terms (subject to applicable principles of equity) and do not and will not violate the terms of the Rules, any applicable laws or any order, charge or agreement by which the Trust is bound.

Trust Representations. The Trust represents and warrants to us that (such representations and warranties being deemed to be repeated upon on each occasion Bullion is credited to or debited from a Fund’s Allocated Unallocated Account under this Agreement): (a) the Trust is duly constituted and validly existing under the laws of its jurisdiction of constitution; (b) the Trust has all necessary authority, powers, consents, licenses and authorizations (which have not been revoked) and has taken all necessary action to enable it lawfully to enter into and perform its duties and obligations under this Agreement; (c) the person entering into this Agreement on the Trust’s behalf has been duly authorized to do so; and (d) this Agreement and the obligations created under it constitute the Trust’s legal and valid obligations which are binding upon the Trust and enforceable against the Trust in accordance with their terms (subject to applicable principles of equity) and do not and will not violate the terms of the Rules, any applicable laws or any order, charge or agreement by which the Trust is bound.