Automatic Savings Plan Sample Clauses

Automatic Savings Plan. If you make use of our savings plan (the automatic buying of Precious Metal periodically), the conditions of this clause shall also apply. In the event of a discrepancy, that which is stipulated in this clause shall prevail. If desired, you can authorise us to automatically buy a standard dollar amount of Precious Metals periodically through the Depository Online website. First the costs and fees shall be deducted from this dollar monthly amount and from the remainder we will purchase at a fixed time each month after receipt of the money in your Account the agreed amount of Precious Metal at the applicable price at the time of execution. The quantity bought thus depends on the amount that you save and the actual price of the Precious Metal. An automatic savings plan can be terminated on a monthly basis. If we receive your notice of termination before the 15th of a calendar month, the automatic savings plan will be terminated on the first day of the next calendar month. In the event that you use the savings plan, for the avoidance of doubt you consent to us holding a lien over your Precious Metal and if necessary we hold this right at law repeatedly, arising from the possession of your Precious Metal in our custody. This right of lien is held in fulfilment of all of your obligations to us at all material times. A buy order for periodic purchases that has been issued can be revoked no later than on the last Business Day prior to the day on which the buy order is received or will be deemed to have been received by us in accordance with clause 6.6. Automatic savings plan buying orders can only be revoked if they are in an “open” status.