Common use of Overdraft Facility Clause in Contracts

Overdraft Facility. We agree to make available to each Fund an on demand overdraft facility (the “Facility”) and, pursuant thereto, to advance to the Fund’s Unallocated Account from time to time such number of ounces of Precious Metal as may be needed in order for us to fully allocate all of the Bullion standing to the Fund’s credit in the Fund’s Unallocated Account (after repayment to us of any overdraft balance existing prior to such allocation as provided hereafter in this in clause 4.7) to the Fund’s Allocated Account pursuant to the standing instruction set forth in clause 4.5 hereof, provided that the maximum amount of Bullion that we will make available to a Fund pursuant to the Facility is 430 fine ounces. We shall not charge a Fund any fees, interest or costs in connection with the Facility. Any amount of Precious Metal advanced by us shall not create any right, charge, security interest, lien or claim against the Bullion held in a Fund’s Allocated Account. Without limiting our right to repayment as hereafter provided in clause 4.8, we will not have any right to set off against the Bullion held in a Fund’s Allocated Account or the Bullion standing to the Fund’s credit in the Fund’s Unallocated Account any claim or amount related to any amount of Precious Metal advanced by us. We shall identify on our books and records and in the reports we send to a Fund pursuant to clause 2.4 any overdraft balance in the Fund’s Unallocated Account as of the date of such reports, which shall be accepted as conclusive evidence of such balance, save in the case of manifest error.

Overdraft Facility. We agree to make available to each Fund you an on demand overdraft facility (the “Facility”) and, pursuant thereto, to advance to the Fund’s your Unallocated Account from time to time such number of ounces of Precious Metal as may be needed in order for us to fully allocate all of the Bullion standing to the Fund’s your credit in the Fund’s your Unallocated Account (after repayment to us of any overdraft balance existing prior to such allocation as provided hereafter in this in clause 4.7) to the Fund’s your Allocated Account pursuant to the standing instruction set forth in clause 4.5 hereof, provided that the maximum amount of Bullion that we will make available to a Fund you pursuant to the Facility is 430 fine ounces. We shall not charge a Fund you any fees, interest or costs in connection with the Facility. Any amount of Precious Metal advanced by us shall not create any right, charge, security interest, lien or claim against the Bullion held in a Fund’s your Allocated Account. Without limiting our right to repayment as hereafter provided in clause 4.8, we will not have any right to set off against the Bullion held in a Fund’s your Allocated Account or the Bullion standing to the Fund’s your credit in the Fund’s your Unallocated Account any claim or amount related to any amount of Precious Metal advanced by us. We shall identify on our books and records and in the reports we send to a Fund you pursuant to clause 2.4 any overdraft balance in the Fund’s your Unallocated Account as of the date of such reports, which shall be accepted as conclusive evidence of such balance, save in the case of manifest error.

Overdraft Facility. We agree to make available to each Fund you an on demand overdraft facility (the “Facility”) and, pursuant thereto, to advance to the Fund’s your Unallocated Account from time to time such number of ounces of Precious Metal as may be needed in order for us to fully allocate all of the Bullion standing to the Fund’s your credit in the Fund’s your Unallocated Account (after repayment to us of any overdraft balance existing prior to such allocation as provided hereafter in this in clause 4.7) to the Fund’s your Allocated Account pursuant to the standing instruction set forth in clause 4.5 hereof, provided that the maximum amount of Bullion that we will make available to a Fund you pursuant to the Facility is 430 fine ounces. We shall not charge a Fund you any fees, interest or costs in connection with the Facility. Any amount of Precious Metal advanced by us shall not create any right, charge, security interest, lien or claim against the Bullion held in a Fund’s your Allocated Account. Without limiting our right to repayment as hereafter provided in clause 4.8, we will not have any right to set off against the Bullion held in a Fund’s your Allocated Account or the Bullion standing to the Fund’s your credit in the Fund’s your Unallocated Account any claim or amount related to any amount of Precious Metal advanced by us. We shall identify on our books and records and in the reports we send to a Fund you pursuant to clause 2.4 any overdraft balance in the Fund’s your Unallocated Account as of the date of such reports, which shall be accepted as conclusive evidence of such balance, save in the case of manifest error.