Metal Agent definition

Metal Agent means Deutsche Bank AG, London Branch and any successor or replacement thereto.

Metal Agent means, as at the date hereof, in relation to The Royal Mint Physical Gold ETC Securities, The Royal Mint Limited and any other person as may be party to a Metal Agent Agreement with the Issuer.

Metal Agent means Deutsche Bank AG, London branch or such other person or persons as provide services to the Issuer in relation to the issue and Redemption of Industrial Metal Securities and/or the sale and administration of LME Physical Metal represented by Warrants and/or Warehouse Physical Metal represented by Warehouse Receipts pursuant to a Metal Agent Agreement

Examples of Metal Agent in a sentence

• If the Issuer’s inability to pay the Final Redemption Amount on the Scheduled Maturity Date is solely due to the Final Metal Redemption Amount falling below the Minimum Debt Amount, the Issuer may not have any further rights against the Metal Agent and/or the Programme Counterparty which could be enforced and therefore there may not be any proceeds of enforcement of the Security.All such payments are also subject to the limited recourse provisions of Condition 6(g).

• If the Issuer’s inability to pay the Early Redemption Amount on the Early Redemption Date is solely due to the Early Metal Redemption Amount falling below the Minimum Debt Amount, the Issuer may not have any further rights against the Metal Agent and/or the Programme Counterparty which could be enforced and therefore there may not be any proceeds of enforcement of the Security.All such payments are also subject to the limited recourse provisions of Condition 6(g).

• The Metal Agent shall be permitted to deduct such bid/offer spread and any Taxes arising from or connected with any such realisation from the actual proceeds of the realisation and shall not be liable to account for anything except the actual proceeds of any such realisation received by it after such deductions.

• Therefore, Securityholders of a Series are exposed to the creditworthiness of the Metal Agent in respect of the disposal proceeds of the Underlying Metal.Risk FactorsAn investment in the ETC Securities involves a significant degree of risk and prospective investors should read carefully and ensure they understand the section entitled “Risk Factors”.

• The Issuer’s ability to pay the Final Redemption Amount or the Early Redemption Amount on the Scheduled Maturity Date or Early Redemption Date (as applicable) is dependent on its receipt of the disposal proceeds of the Underlying Metal from the Metal Agent.

• The Issuer has authorised and directed the Secured Account Custodian to deliver the Underlying Metal held by the Secured Account Custodian or Sub-Custodian to, or to the order of, the Metal Agent upon the occurrence of the first day of a Redemption Disposal Period, to the extent necessary to effect the realisation of the Underlying Metal.

• The Metal Agent may charge a bid/offer spread in respect of each realisation of the Underlying Metal, provided that such bid/offer spread is representative of the bid/offer spread that would generally arise on a realisation by the Metal Agent of a similar type and for a similar amount of Metal.

• The Issuer shall indemnify the Metal Agent for any Taxes arising from or connected with any such realisation which are borne by the Metal Agent and which the Metal Agent has not deducted from the actual proceeds of such realisation.

• Subject as provided above, in carrying out any realisation, the Metal Agent will act in good faith and a commercially reasonable manner and will sell at a price which it reasonably believes to be representative of the fair market price of Underlying Metal being disposed of in the relevant transaction.

• Without prejudice to anything in this Condition 6(d)(i), the Metal Agent shall use reasonable efforts to realise the Underlying Metal in such a way as to minimise any VAT which may be charged, withheld or deducted on the realisation thereof which would reduce the net realisation proceeds (as compared to the position if no VAT were due), save that nothing in this Condition 6(d)(i) shall require the Metal Agent to minimise any such VAT in a manner which would itself reduce the net realisation proceeds.

More Definitions of Metal Agent

Metal Agent means Deutsche Bank AG, London branch or such other person or persons as provide services to the Issuer in relation to the issue and Redemption of Industrial Metal Securities and/or the sale and administration of LMS Warrants and/or Warehouse Receipts pursuant to a Metal Agent Agreement;

Metal Agent means Heraeus, a company organised under the laws of the Germany, whose principal place of business in Germany is Heraeusstr. 12-14, 63450 Hanau;

Metal Agent means Metalor Technologies SA, a company incorporated and registered in Switzerland (registered number CHE-101.677.0399) with registered office at Route de Perveuils 8, 2074, Marin – Epagnier, Neuchatel, Switzerland;