Unallocated Basis definition

Unallocated Basis means, with respect to the holding of gold, that the holder is entitled to receive delivery of Physical Gold in the amount standing to the credit of the holder’s account, but the holder has no ownership interest in any particular gold that the custodian maintaining that account owns or holds.

Unallocated Basis shall have the meaning ascribed to the term in Section 1.1 of the relevant Trust Agreement.

Unallocated Basis means, with respect to a Precious Metal account maintained with us, that the person in whose name the account is held is entitled to delivery in accordance with the Rules of an amount of Precious Metal equal to the amount of Precious Metal standing to the credit of the person’s account but has no ownership interest in any Precious Metal that we own or hold.

Examples of Unallocated Basis in a sentence

• You and we agree nevertheless that you expect to withdraw Bullion physically from your Allocated Account (rather than by crediting it to your Unallocated Account) only in exceptional circumstances, as for example when we are unable to transfer Precious Metal on an Unallocated Basis.

• We shall open and maintain the Unallocated Account for you in respect of Bullion, and we shall hold the Bullion in the Unallocated Account on an Unallocated Basis pursuant to this Agreement.

• This document, with the exception of any representations made fraudulently, represents the entire agreement, and supersedes and replaces any previous agreement between us relating to the establishment of a Gold account to be maintained on an Unallocated Basis for you as a Participant in connection with the SPDR® Gold Trust.

• You and we agree nevertheless that you expect to withdraw Bullion physically from your Unallocated Account (rather than by crediting it to a Third Party Unallocated Account or by transferring it to your Allocated Account) only in exceptional circumstances, as for example when we are unable to transfer Precious Metal on an Unallocated Basis.

More Definitions of Unallocated Basis

Unallocated Basis means, with respect to an Unallocated Account maintained with the Custodian, that the person in whose name the account is held is entitled to delivery in accordance with the Rules of an amount of Bullion equal to the amount of Bullion standing to the credit of the person’s account but is an unsecured creditor in any Bullion that the Custodian owns or holds;

Unallocated Basis means, with respect to the holding of platinum, that the holder is entitled to receive delivery of Physical Platinum in the amount standing to the credit of the holder’s account, but the holder has no ownership interest in any particular platinum that the custodian maintaining that account owns or holds.

Unallocated Basis means that the Person in whose name Silver is so held is entitled to receive delivery of Silver standing to the credit of that Person’s account, but that Person has no ownership interest in any particular Silver that the custodian maintaining that account owns or holds.

Unallocated Basis means, with respect to a Precious Metal account maintained with us, that the person in whose name the account is held is entitled to delivery in accordance with the Rules of an amount of Precious Metal equal to the amount of Precious Metal standing to the credit of the person's account but has no ownership interest in any Precious Metal that we own or hold.

Unallocated Basis means that the Person in whose name Palladium is so held is entitled to receive delivery of Palladium standing to the credit of that Person’s account, but that Person has no ownership interest in any particular Palladium that the custodian maintaining that account owns or holds.

Unallocated Basis means, with respect to a Gold account maintained by a custodian, that the person in whose name the account is held is entitled to delivery in accordance with the Rules of an amount of Gold equal to the amount of Gold standing to the credit of the person's account but has no ownership interest in any Gold that the custodian owns or holds. Underwriter. UBS Securities LLC Underwriter's Order Date. Shall have the meaning assigned such term in Section 2.02(c). Underwriter's Settlement Date. Shall have the meaning assigned such term in Section 2.02(c).

Unallocated Basis means that the Person in whose name Bullion is so held is entitled to receive delivery of Bullion standing to the credit of that Person’s account, but that Person has no ownership interest in any particular Bullion that the custodian maintaining that account owns or holds.