Monthly Custodial Fee definition
Monthly Custodial Fee means, with respect to each Payment Date, the fee payable to the Custodian for the month immediately preceding the month in which such Payment Date occurs in an amount equal to the sum of (a) the greater of (i) the product of (x) 0.0220%, (y) one-twelfth and (z) the average daily Market Value of the Purchased Assets for the calendar month immediately preceding such Payment Date and (ii) $4,500 and (b) the aggregate monthly deposit fee for Participation Certificates or Trust Receipts calculated at $35.00 per Trust Receipt or Participation Certificate deposited, and any other fees owed and unpaid to the Custodian pursuant to its fee agreement that may be amended from time to time.