Basket Silver Amount definition

Basket Silver Amount shall have the meaning ascribed to the term in Section 1.1 of the Trust Agreement.
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Basket Silver Amount is the amount of Silver that must be deposited for issuance of one Basket or that is deliverable upon Surrender of one Basket. The Basket Silver Amount will be determined as provided in Section 2.3(b).
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Examples of Basket Silver Amount in a sentence

  • The amount of Trust Property represented by each Share and the Basket Silver Amount shall be adjusted as appropriate as of the open of business on the Business Day following the record date for a split or reverse split of the Shares.

  • As consideration for each Basket acquired, Authorized Participants must deposit with the Custodian, at the location designated by the Custodian, the Basket Silver Amount determined by the Trustee on the Order Date of the corresponding Purchase Order.

  • The Sponsor intends to publish, or may designate other persons to publish, for each Business Day, the Basket Silver Amount.

  • Fractions of an Ounce of Silver included in the Basket Silver Amount smaller than .001 Ounce shall be disregarded.

  • The Basket Silver Amount corresponding to each Basket must be delivered at the locations specified by the Custodian no later than 11:30 a.m. (London time) on the second Custodian Day following the Order Date.

  • The Sponsor intends to publish, or may designate other Persons to publish, for each Business Day, the Basket Silver Amount.

  • Fractions of an Ounce of Silver included in the Basket Silver Amount smaller than .1 Ounce shall be disregarded.

  • The "Basket Silver Amount" shall be an amount of Silver equal to the result obtained by subtracting the daily expense accrual from the previous day's total Ounces of Silver in the Trust and then dividing by the number of Baskets outstanding.

  • For Redemption Orders submitted via the Trustee’s electronic order entry system which the Trustee elects to accept, the Authorized Participant will receive an automated electronic mail message indicating the acceptance of the Redemption Order and indicating the Basket Silver Amount that the Custodian shall Deliver to the Authorized Participant in respect of each Basket, and the Redemption Order will be marked “Accepted” in the Trustee’s electronic order entry system.

  • For Purchase Orders submitted via the Trustee’s electronic order entry system which the Trustee has elected to accept, the Authorized Participant will receive an automated electronic mail message indicating the acceptance of the Purchase Order and indicating the Basket Silver Amount that the Authorized Participant shall Deliver to the Custodian in respect of each Basket, and the Purchase Order will be marked “Accepted” in the Trustee’s electronic order entry system.