Metal Agent Agreement definition

Metal Agent Agreement means the metal agent agreement dated on or about the Series Issue Date of the ETC Securities entered into by the Issuer and the Metal Agent and any other parties thereto by the execution of the Issue Deed and in the form of the Master Metal Agent Terms (as amended and/or supplemented by the Issue Deed) and as such Metal Agent Agreement is amended, supplemented, novated or replaced from time to time.

Metal Agent Agreement means in relation to The Royal Mint Physical Gold ETC Securities, the metal agent agreement dated on or about the date hereof and entered into by the Issuer, The Royal Mint Limited, the Security Trustee and the Administrator and any other agreement entered into by the Issuer that provides for the appointment of any person as a metal agent with respect to the sale of Metal in relation to Metal Securities.

Metal Agent Agreement means, in respect of a Series, the metal agent agreement relating to such Series of ETC Securities entered into by the Issuer and the Metal Agent and any other parties thereto and in the form of the Master Metal Agent Terms (as amended and/or supplemented by the Issue Deed) and as such Metal Agent Agreement is amended, supplemented, novated or replaced from time to time.

Examples of Metal Agent Agreement in a sentence

• Following the Early Redemption Valuation Date or the Final Redemption Valuation Date, upon the occurrence of the first day of the related Redemption Disposal Period, the Metal Agent shall, acting as agent of the Issuer (x) realise the Underlying Metal in a timely fashion during the Redemption Disposal Period in accordance with the terms of the relevant Metal Agent Agreement and applicable laws; and (y) convert proceeds from the realisation of Underlying Metal into the Specified Currency.

• If the Metal Agent resigns or its appointment is terminated for any reason, the Issuer shall use all reasonable efforts to appoint an Eligible Metal Agent to act as the Metal Agent in its place within 60 calendar days of the date of the notice of resignation or the notice of termination or the date the appointment was automatically terminated in accordance with the Metal Agent Agreement.

• Following the Early Redemption Valuation Date or the Final Redemption Valuation Date, upon the occurrence of the first day of the related Redemption Disposal Period, the Metal Agent shall, acting as agent of the Issuer realise the Underlying Metal in a timely fashion during the Redemption Disposal Period in accordance with the terms of the relevant Metal Agent Agreement and applicable laws.

• This Metal is aggregated and withdrawn from the Secured Accounts to the Metal Agent in accordance with the relevant Custody Agreement and will be sold, and its proceeds paid to the order of the Issuer in accordance with the Metal Agent Agreement.

• No Event of Default will occur as a result of any such withholding or deduction.Transfers of Metal to or from the Issuer under the Balancing Agreement or the Authorised Participant Agreement or transfers of the sale proceeds of Underlying Metal to the Issuer under the Metal Agent Agreement in relation to a Series of ETC Securities may be subject to charges, withholding or deduction for, or on account of, Taxes (including VAT).

• Under the Metal Agent Agreement, the Metal Agent is authorised to take such steps as, acting in a commercially reasonable manner, it considers appropriate to effect an orderly sale of the Metal.

• Pursuant to the terms of the Metal Agent Agreement, the Metal Agent is only responsible for any loss or damage as a result of any negligence, fraud or wilful default on Metal Agent’s part in the performance of its duties.

• On a Metal Sale, the Issuer will instruct the Custodian to transfer the relevant Metal from the Secured Accounts to the order of the Metal Agent in accordance with the Metal Agent Agreement and the Metal Agent will sell the Underlying Metal in a timely fashion on the Metal Sale Date.

• The Metal Agent will then, in accordance with the Conditions and the relevant Metal Agent Agreement, dispose of the Underlying Metal during the Early Redemption Disposal Period.

• The services provided by the Metal Agent under the Metal Agent Agreement is presently not a regulated activity subject to the supervision and rules of any regulatory authority.

More Definitions of Metal Agent Agreement

Metal Agent Agreement means the Metal Agent Agreement dated 6 December 2010between the Issuer and the Metal Agent as amended from time to time or any successor or other agreement to which the Issuer is party providing for the provision of services to the Issuer in relation to the issue and Redemption of Industrial Metal Securities and the sale and administration of LME Physical Metal represented by Warrants and/or Warehouse Physical Metal represented by Warehouse Receipts

Metal Agent Agreement means the agreement dated on or about the date of the Trust Instrument between the Issuer and the Metal Agent as amended from time to time or any successor or other agreement to which the Issuer is a party providing for the provision of services to the Issuer in relation to the issue and Redemption of Industrial Metal Securities and the sale and administration of LME Warrants and Warehouse Receipts;