Silver Bullion definition

Silver Bullion means physical silver bullion in London Good Delivery bar form that is unencumbered, fully allocated and stored at the Silver Custodian by or on behalf of the Trust;
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Silver Bullion means silver bullion from any
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Silver Bullion means silver that meets the applicable physical specifications for good delivery and the minimum purity requirements for the applicable Exchange.
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Examples of Silver Bullion in a sentence

  • For all other Products produced from the Royalty Property and sold other than as Gold Bullion or Silver Bullion or Copper (“Other Products”), Net Smelter returns shall be equal to (i) the actual sales price received by Grantor from the sale of Other Products to a smelter, refiner, processor, purchaser or other recipient of such products during a calendar quarter, less (ii) the Allowable Deductions permitted in Section 5(b) below.

  • Payment of the Net Smelter Returns Royalty shall be due by the last day of the month following each calendar quarter in which Gold or Silver Bullion or Copper or Other Products are sold (the “Payment Date”).

  • All payments of Net Smelter Returns Royalty shall be accompanied by a detailed statement explaining the calculation thereof together with any available settlement sheets receiver by Grantor from the smelter, refiner or other purchaser of Gold or Silver Bullion or Copper or Other Products.

  • The dollar amount of the Net Smelter Returns Royalty due to Grantee for each calendar quarter shall be the product of: (i) the sum of the Net Smelter Returns for Gold and Silver Bullion for such quarter plus the Net Smelter Returns for Copper or Other Products for such quarter (ii) multiplied by the Royalty Percentage.

  • All profits and losses resulting from Grantor’s actual sale of Gold or Silver Bullion, or Grantor’s engaging in any commodity futures trading, option trading, or metals trading, or any combination thereof, and any other hedging transactions including trading transactions designed to avoid losses and obtain possible gains due to metal price fluctuations are specifically excluded from calculation of Net Smelter Returns and shall be solely for Grantor’s account.

  • The Manager shall appoint the Silver Custodian to hold the Silver Bullion.

  • During any period in which the right of Unitholders to request a redemption of their Units for Silver Bullion and/or cash is suspended pursuant to Section 6.6 hereof, the Manager, on behalf of the Trust, shall direct the Valuation Agent to suspend the calculation of the Net Asset Value of the Trust, the Net Asset Value per Unit, the Class Net Asset Value and the Class Net Asset Value per Unit for each class or series of a class of Units.

  • Forthwith following such appointment of a successor trustee, the Trustee shall execute and deliver such documents as the Manager may reasonably require for the conveyance of any Trust Property (other than the Silver Bullion) held in the Trustee’s name to the successor trustee and, shall account to the Manager for all of the Trust Property which the Trustee retains as trustee and shall thereupon be discharged as trustee.

  • Silver Bullion received by a Unitholder as a result of a redemption of Units will be delivered by armoured transportation service carrier pursuant to delivery instructions provided by the Unitholder to the Manager, provided that the delivery instructions are acceptable to the armoured transportation service carrier.

  • As compensation for custodial services rendered to the Trust with respect to the Silver Bullion and other Trust Property, the Silver Custodian and the Custodian shall be entitled to receive such fees as the Manager may approve from time to time pursuant to a separate written agreement with each of the Silver Custodian and the Custodian.


More Definitions of Silver Bullion

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Silver Bullion means physical silver bullion in London Good Delivery bar form that is unencumbered, fully allocated and stored at the Silver Custodian by or on behalf of the Trust; (nnn) “Silver Custodian” means the custodian of the Silver Bullion appointed pursuant to Section 17.5 hereof and shall include the Royal Canadian Mint and any sub-custodians appointed by the Royal Canadian Mint which from time to time hold the Silver Bullion pursuant to the Storage Agreement or a separate written custodial agreement; (ooo) “Silver Redemption Notice” means a written request signed by a Unitholder, which must be guaranteed by a Canadian chartered bank, or by a medallion signature guarantee from a member of a recognized Signature Medallion Guarantee Program, as described in Section 6.1 hereof substantially in the form of Schedule E attached hereto, or in such other form as the Manager may from time to time in its sole discretion determine; (ppp) “Storage Agreement” means the silver storage agreement between the Manager, on behalf of the Trust, and the Silver Custodian, to be dated on or about the date of filing the final Disclosure Documents with the applicable Securities Authorities, as the same may be amended, restated or supplemented from time to time; (qqq) “Sub-Custodian Guidelines” has the meaning ascribed thereto in subsection 17.6(h) hereof; (rrr) “Tax Act” means the Income Tax Act (Canada) and the regulations, rules, requirements and policies promulgated thereunder, as amended from time to time; (sss) “Termination Event” has the meaning ascribed thereto in subsection 14.1(c) hereof; (ttt) “Trust” means Sprott Physical Silver Trust, a closed-end mutual fund trust established under the laws of the Province of Ontario and governed by this Trust Agreement; (uuu) “Trust Agreement” means this amended and restated trust agreement dated as of February 27, 2015 between the Manager and the Trustee, as the same may be further amended, restated, supplemented or replaced from time to time;
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Silver Bullion means (a) silver bullion bars produced by a refiner on the LBMA “Good Delivery List of Acceptable Refiners,” complying with the standards of the LBMA relating to good delivery and fineness from time to time in effect or (b) silver bullion which is suitable for a metal transfer in metal accounts at LOCO London.
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Silver Bullion means silver bullion from any source that a re-
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Silver Bullion means the silver bullion obtained by refining and molding Silver.
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Silver Bullion means silver bullion refined to a form that meets good delivery standards in the London Bullion Market, or comparable terminal market.
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Related to Silver Bullion

  • Silver means elemental silver having an atomic weight of 107.869 and the chemical element symbol of Ag, whether found by itself or in combination with its alloys or any other metal.

  • 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.

  • Platinum means elemental platinum having an atomic weight of 195.09 and the chemical element symbol of Pt, whether found by itself or in combination with its alloys or any other metal.

  • Cyber-bullying means bullying through the use of technology or any electronic communication, which shall include, but shall not be limited to, any transfer of signs, signals, writing, images, sounds, data or intelligence of any nature transmitted in whole or in part by a:

  • Bullion means gold, silver, or platinum in a bulk state, where its value depends on its content rather than its form, with a purity of not less than 900 parts per 1,000.