Net Asset Value of the Trust definition

Net Asset Value of the Trust has the meaning specified in Section 4.1(b).

Net Asset Value of the Trust is the amount determined from time to time in accordance with Section 3.5 hereof;

Net Asset Value of the Trust as at the Valuation Time on each Valuation Date shall be the amount obtained by deducting from the aggregate fair market value of the assets of the Trust as of such Valuation Date an amount equal to the fair value of the liabilities of the Trust (excluding all liabilities represented by outstanding Units) as of such Valuation Date. The “Net Asset Value per Unit” shall be determined by dividing the Net Asset Value of the Trust on a Valuation Date by the total number of Units outstanding on such Valuation Date. The Net Asset Value of the Trust as at the Valuation Time on a Valuation Date shall be determined in accordance with the following:

Examples of Net Asset Value of the Trust in a sentence

• In determining the Net Asset Value of the Trust, the Administrative Trustee (or its appointed delegee, including the Trust Administrator or the Processing Agent, as applicable) shall value the ether held by the Trust based on the Index, unless otherwise determined by the Sponsor in its sole discretion.

• On each Business Day on which the Exchange is open for regular trading, the Administrative Trustee (or its appointed delegee, including the Trust Administrator or the Processing Agent, as applicable) shall determine the Net Asset Value of the Trust and the Net Asset Value per Share as of 4:00 p.m. (Eastern Time).

• None of the Trust Administrator, the Administrative Trustee nor the Sponsor shall be liable to any Person for the determination that the most recently communicated Net Asset Value of the Trust or Net Asset Value per Share is not appropriate or for any determination as to the alternative basis for valuation; provided that such determination is made in good faith.

• The Administrative Trustee hereby delegates to the Trust Administrator the responsibility to calculate the Net Asset Value of the Trust and the Net Asset Value per Share, based on a pricing source selected by the Administrative Trustee, until such time as the Administrative Trustee revokes such delegation in its sole discretion.

• Any amendment that imposes or increases any fees or charges (other than the Sponsor's Fee, to the extent it does not exceed 0.50% of the Net Asset Value of the Trust and other than taxes and other governmental charges) or prejudices a substantial existing right of the Registered Owners will not become effective until thirty (30) days after notice of such amendment is given by the Administrative Trustee to the Registered Owners.

More Definitions of Net Asset Value of the Trust

Net Asset Value of the Trust shall have the meaning and shall be calculated in accordance with the Trust Agreement;

Net Asset Value of the Trust. The Trustee shall divide the Net Asset Value of the Trust by the number of Shares outstanding as of the time of the calculation, which figure is the “Net Asset Value per Share.” All fees, expenses and other liabilities of the Trust that are or will be incurred or accrued through the close of business on a Business Day shall be included in the calculations required by this Section 4.1(b) for that Business Day. Shares deliverable under a Purchase Order shall be considered to be outstanding for purposes of the calculations required by this Section 4.1(b) beginning on the first Business Day immediately following the Order Date of such Purchase Order. Shares deliverable under a Redemption Order shall not be considered to be outstanding for purposes of the calculations required by this Section 4.1(b) on and after the first Business Day immediately following the Order Date of such Redemption Order.

Net Asset Value of the Trust means the net asset value of the Trust, as determined in accordance with Section 4.1(b).

Net Asset Value of the Trust means the net asset value of all of the Trust Units calculated in accordance with Item

Net Asset Value of the Trust as at the Valuation Time on each Valuation Date shall be the amount obtained by deducting from the aggregate fair market value of the assets of the Trust as of such Valuation Date an amount equal to the fair value of the liabilities of the Trust (excluding all liabilities represented by outstanding Units) as of such Valuation Date. The “Net Asset Value per Unit” shall be determined by dividing the Net Asset Value of the Trust on a Valuation Date by the total number of Units then outstanding on such Valuation Date. Subject to Directions from the Manager as required, the Net Asset Value of the Trust as at the Valuation Time on a Valuation Date shall be determined by the Valuation Agent in accordance with the following:

Net Asset Value of the Trust as at the Valuation Time on each Valuation Date shall be the amount obtained by deducting from the aggregate fair market value of the assets of the Trust as of such Valuation Date an amount equal to the fair value of the liabilities of the Trust (excluding all liabilities represented by outstanding Units) as of such Valuation Date. The “Net Asset Value per Unit” shall be determined by dividing the Net Asset Value of the Trust on a Valuation Date by the total number of Units then outstanding on such Valuation Date. The Net Asset Value of the Trust as at the Valuation Time on a Valuation Date shall be determined in accordance with the following: (a) The assets of the Trust shall be deemed to include the following property: (i) all Gold Bullion owned by or contracted for the Trust; (ii) all cash on hand or on deposit, including any interest accrued thereon adjusted for accruals deriving from trades executed but not yet settled; (iii) all bills, notes and accounts receivable; (iv) all interest accrued on any interest-bearing securities owned by the Trust other than interest, the payment of which is in default; and (v) prepaid expenses. (b) The market value of the assets of the Trust shall be determined as follows: (i) the value of Gold Bullion shall be its market value based on the price provided by a widely recognized pricing service as directed by the Manager and, if such service is not available, such Gold Bullion shall be valued at a price provided by another pricing service as determined by the Manager in consultation with the Valuation Agent; (ii) the value of any cash on hand or on deposit, bills, demand notes, accounts receivable, prepaid expenses, and interest accrued and not yet received, shall be deemed to be the full amount thereof unless the Manager shall have determined that any such deposit, xxxx, demand note, account receivable, prepaid expense or interest

Net Asset Value of the Trust is the amount determined from time to time in accordance with Section 3.5 hereof; (tt) “Net Asset Value per Unit” is the amount determined from time to time in accordance with Section 3.5 hereof; (uu) “Net Change in Non-Portfolio Assets” on a Valuation Date means: (i) the aggregate of all income accrued by the Trust as of that Valuation Date, including cash dividends and distributions, interest and compensation since the last calculation of Class Net Asset Value or Class Net Asset Value per Unit, as the case may be; minus (ii) the Common Expenses to be accrued by the Trust as of that Valuation Date which have been accrued since the last calculation of Class Net Asset Value or Class Net Asset Value per Unit, as the case may be; plus or minus (iii) any change in the value of any non-portfolio assets or liabilities stated in any foreign currency accrued on that Valuation Date since the last calculation of Class Net Asset Value or Class Net Asset Value per Unit, as the case may be, including, without limitation, cash, accrued dividends or interest and any receivables or payables; plus or minus (iv) any other item accrued on that Valuation Date determined by the Manager to be relevant in determining the Net Change in Non-Portfolio Assets; (vv) “Net Income” has the meaning ascribed thereto in subsection 4.2(a) hereof; (ww) “Net Realized Capital Gains” has the meaning ascribed thereto in subsection 4.2(b) hereof;