Fine Ounce definition

Fine Ounce means an Ounce of 100% pure gold, Fine Ounces being determined, as to physical gold, by multiplying the gross weight in Ounces by the fineness, expressed as a fraction of the fine metal content in parts per 1000 and, as to gold held in the Trust Unallocated Account, by the number of Fine Ounces credited to the account from time to time (such account being denominated in Fine Ounces).

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Fine Ounce means an Ounce of 100% pure gold. The number of Fine Ounces in a gold bar may be calculated by multiplying the gross weight in Ounces by the fineness, expressed as a fraction of the fine metal content in parts per 1000, in accordance with the “good delivery” rules of the London Bullion Market Association.

Fine Ounce means the measure of fine gold content, calculated by multiplying the gross weight in Ounces by the fineness, expressed in terms of the fine metal content in parts per 1000, in accordance with the standards and specifications set forth in the good delivery rules promulgated by the LBMA from time to time.

Examples of Fine Ounce in a sentence

• Fractions of a Fine Ounce of Gold included in the Basket Gold Amount smaller than .001 Fine Ounce shall be disregarded.

• Any Gold withdrawal from the Trust Unallocated Account pursuant to clause 4.1 will be in a form which complies with the Rules or in such other form as may be agreed between the Trustee and the Custodian the combined Fine Ounce weight of which will not exceed the number of Fine Ounces the Trustee has instructed the Custodian to debit.

• Fractions of a Fine Ounce of Gold included in the Creation Basket Gold Deposit Amount smaller than 0.001 of a Fine Ounce shall be disregarded.

• Fractions of a Fine Ounce of Gold included in the Redemption Distribution smaller than 0.001 of a Fine Ounce shall be disregarded.

• The number of Shares a Delivery Applicant Surrenders must (i) correspond to at least one Fine Ounce of gold and (ii) have a minimum dollar value in an amount that is specified by the Sponsor from time to time on the Trust’s website and notified by the Sponsor to the Trustee at the time of each specification.

• Fractions of a Fine Ounce of gold included in the Basket Gold Amount smaller than 0.001 Fine Ounces shall be disregarded.

• Fractions of a Fine Ounce included in the Basket Gold Amount smaller than .001 Fine Ounce shall be disregarded.

• Fractions of a Fine Ounce of Gold included in the Redemption Distribution smaller than .001 Fine Ounce shall be disregarded.

• Fractions of a Fine Ounce of Gold included in the Creation Basket Gold Deposit Amount smaller than .001 Fine Ounce shall be disregarded.

• Any Gold withdrawal from the Trust Unallocated Metal Account pursuant to clause 4.1 will be in a form which complies with the Rules or in such other form as may be agreed between the Trustee and the Custodian the combined Fine Ounce weight of which will not exceed the number of Fine Ounces the Trustee has instructed the Custodian to debit.

More Definitions of Fine Ounce

Fine Ounce shall have the meaning ascribed to the term in Section 1.1 of the Trust Agreement.

Fine Ounce means an ounce of 100% pure gold, Fine Ounces being determined, as to Physical Gold, by multiplying the gross weight in ounces by the fineness, expressed as a fraction of the fine metal content in parts per 1000 in accordance with London Good Delivery Standards and, as to gold held on an unallocated basis, by the number of Fine Ounces credited to the applicable unallocated account from time to time (such account being denominated in Fine Ounces).

Fine Ounce shall have the meaning ascribed to the term in Section 1.1 of the Trust Agreement. “Gold” or “gold” shall have the meaning ascribed to the term in Section 1.1 of the Trust Agreement. - 8 - “Initial Creation” shall mean the initial creation of Shares pursuant to the provisions of Section 2.01 hereof. “LBMA” shall mean the London Bullion Market Association or its successor. “London Business Day” shall mean a day (other than a Saturday, Sunday or a public holiday in England) on which commercial banks generally and the over-the-counter markets in gold, as coordinated by the LBMA, are open for the transaction of business in London. “London Good Delivery Standards” shall have the meaning ascribed to the term in Section 1.1 of the Trust Agreement. “Order” shall have the meaning ascribed to it in Section 1 of the Authorized Participant Agreement. “Order Cutoff Time” shall have the meaning ascribed to the term in Section 1.1 of the Trust Agreement. “Order Date” shall have, (i) with respect to a Purchase Order, the meaning ascribed to the term in Section 2.3(a) of the Trust Agreement; and (ii) with respect to a Redemption Order, the meaning ascribed to the term in Section 2.6(a) of the Trust Agreement. “Person” shall mean any natural person or any limited liability company, corporation, partnership, joint venture, association, joint stock company, trust, unincorporated organization or other entity or government or any agency or political subdivision thereof. “Procedures” shall have the meaning ascribed to it in Section 1 of the Authorized Participant Agreement. “Prospectus” or “Prospectuses” means the current prospectus of the Trust included in its effective registration statement, as supplemented or amended from time to time. “Purchase Order” shall have the meaning ascribed to it in Section 1 of the Authorized Participant Agreement. “Redemption Order” shall have the meaning ascribed to it in Section 1 of the Authorized Participant Agreement. “Securities Act” means the Securities Act of 1933, as amended. “Shares” means Shares issued by the Trust pursuant to the provisions of the Trust Agreement. “Sponsor” shall mean Merk Investments LLC, a Delaware limited liability company, in its capacity as the sponsor of the Trust under the Trust Agreement, and any successor thereto in compliance with the provisions thereof. - 9 - “Sponsor Indemnified Party” shall have the meaning ascribed to such term in Sections 6.01.b of the Standard Terms. “Standard Terms” shall have the mea...

Fine Ounce means an ounce of 100% pure gold, Fine Ounces being determined, as to Physical Gold, by multiplying the gross weight in ounces by the fineness,