Fine Ounces definition

Fine Ounces shall have the meaning ascribed to the term in Section 1.1 of the Trust Agreement.
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Examples of Fine Ounces in a sentence

  • Every Person depositing Gold under this Agreement shall be deemed thereby to represent and warrant that the Gold meets the requirements to be Gold and contains the required number of Fine Ounces, that the person making such deposit is duly authorized to do so and that at the time of delivery, the Gold is free and clear of any lien, pledge, encumbrance, right, charge or claim (other than the rights created by this Agreement).

  • The Trustee shall subtract that number of Fine Ounces of Gold from the total number of Fine Ounces of Gold then held by the Trust, and divide the resulting Gold amount by the number of Baskets then outstanding.

  • The Trustee shall require the Custodian to agree that the Custodian will use reasonable efforts to minimize the amount of Gold held for the Trust on an Unallocated Basis at all times and the Custodian must allocate ownership of gold bars to the Trust such that no more than 430 Fine Ounces of Gold are held on an Unallocated Basis for the Trust at the end of each business day of the Custodian.

  • The creation and redemption of Baskets will only be made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of gold represented by the Baskets being created or redeemed, the amount of which will be based on the combined Fine Ounces represented by the number of shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received.

  • 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.

  • The Trust Unallocated Account will hold deposits of Gold and will be denominated in Fine Ounces.

  • If the Custodian delivers from the Trust Allocated Account Physical Gold that is not of the Fine Ounces the Custodian has represented to the Trustee or that is not according to the Rules, recovery by the Trustee, to the extent such recovery is otherwise allowed, shall not be barred by any delay in asserting a claim because of the failure to discover the corresponding loss or damage regardless of whether such loss or damage could or should have been discovered.

  • If the Custodian delivers from the Trust Unallocated Account Gold that is not of the Fine Ounces the Custodian has represented to the Trustee or that is not according to the Rules, recovery by the Trustee, to the extent such recovery is otherwise allowed, shall not be barred by any delay in asserting a claim because of the failure to discover the corresponding loss or damage regardless of whether such loss or damage could or should have been discovered.

  • The Trust Allocated Account will hold deposits of Physical Gold and will be denominated in Fine Ounces.

  • With respect to a withdrawal of Gold from the Trust Unallocated Account made in connection with clause 4.1(f), if, in accordance with the Trust Agreement and instructions from the Trustee, Gold must be sold, the Custodian shall (i) sell such Fine Ounces at the Benchmark Price next determined after receipt of appropriate instructions and (ii) remit the cash proceeds of such sale to the Trustee.

Related to Fine Ounces

  • fine ore means iron ore which has an average pure iron content of not less than sixty per cent. (60%) which will pass through a one half (½) inch mesh screen and which is sold without concentration or other beneficiation other than crushing and screening;

  • Gold means elemental gold having an atomic weight of 196.967 and the chemical element symbol of Au, whether found by itself or in combination with its alloys or any other metal.

  • ore means any rock soil or alluvium bearing diamonds mined from mining leases granted pursuant to this Agreement;

  • Peak tube potential means the maximum value of the potential difference across the x-ray tube during an exposure.

  • tons means the gross tonnage calculated in accordance with the tonnage measurement regulations contained in Annex I of the International Convention on Tonnage Measurement of Ships, 1969; the word “tonnage” shall be construed accordingly.

  • Probable Mineral Reserve means the economically mineable part of an indicated and, in some circumstances, a measured mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified;

  • Distillery means any place or premises where any process of distillation whatever of spirits is carried on, or where any process of rectification of spirits is carried on, or where any spirits are manufactured or produced from any substance whatever by any process other than fermentation;

  • Crude Petroleum means the direct product of oil wells or a mixture of the indirect products transportable like the direct products and containing not more than two percent (2%) of sediment, water, and other impurities.

  • Diameter at Breast Height (DBH) means the diameter of a tree at 4 1/2 feet above the ground measured from the uphill side.

  • Salvaging means the lawful and controlled removal of reusable materials from solid waste.

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

  • Diameter means the diameter of the stem of a tree measured outside the bark at a specified point of measurement.

  • Total tetrahydrocannabinol means the same as that term is defined in § 3.2-4112.

  • smelter means an electrolytic reduction plant for the conversion of alumina to aluminium using alumina produced from bauxite;

  • IFB means invitation for bids

  • Fresh water means water, such as tap water, that has not been previously used in a process operation or, if the water has been recycled from a process operation, it has been treated and meets the effluent guidelines for chromium wastewater.

  • Density means the permitted number of dwelling units per

  • Deadweight (DW) means the difference in metric tons between the displacement of a ship in water of a specific gravity of 1.025 at the load waterline corresponding to the assigned summer freeboard and the lightweight of the ship.

  • Open Position means a Long Position or a Short Position which is not a Completed Transaction.

  • Tare Weight means the weight of an empty shipping container, excluding all materials used for wrapping, cushioning, banding, waterproofing, packaging, blocking and bracing articles within the exterior container.

  • Exceedance means a condition that is detected by monitoring that provides data in terms of an emission limitation or standard and that indicates that emissions (or opacity) are greater than the applicable emission limitation or standard (or less than the applicable standard in the case of a percent reduction requirement) consistent with any averaging period specified for averaging the results of the monitoring.

  • concentrates means flavoring ingredients and, depending on the product, sweeteners used to prepare syrups or finished beverages;

  • Distiller means a person engaged in the business of

  • spoil means excavated material which is unsuitable for use as material in the construction works or is material which is surplus to the requirements of the construction works;

  • tanker in relation to chapter 4 means an oil tanker as defined in MARPOL Annex I, regulation 1 or a chemical tanker or an NLS tanker as defined in MARPOL Annex II, regulation 1.

  • Biomass means the biodegradable fraction of products, waste and residues from biological origin from agriculture (including vegetal and animal substances), forestry and related industries including fisheries and aquaculture, as well as the biodegradable fraction of industrial and municipal waste;