Common use of Certain Matters Regarding Successor Sponsor Clause in Contracts

Certain Matters Regarding Successor Sponsor. The covenants, provisions and agreements herein contained shall in every case be binding upon any successor to the business of the Sponsor. The Sponsor may transfer all or substantially all of its assets to an entity which carries on the business of the Sponsor, if at the time of such transfer such successor duly assumes all the obligations of the Sponsor under this Agreement, and in such event, the Sponsor shall be relieved of all further liability under this Agreement.

Appears in 32 contracts

Samples: Depositary Trust Agreement (Currencyshares Japanese Yen Trust), Depositary Trust Agreement (CurrencyShares Hong Kong Dollar Trust), Depositary Trust Agreement (Currencyshares Euro Trust)

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Certain Matters Regarding Successor Sponsor. The ------------------------------------------- covenants, provisions and agreements herein contained shall in every case be binding upon any successor to the business of the Sponsor, except that no successor Sponsor may be a partnership. In the event of an assignment by the Sponsor to a successor corporation as permitted by the next following sentence, the Sponsor shall be relieved of all further liability under this Agreement. The Sponsor may transfer all or substantially all of its assets to an entity a corporation which carries on the business of the Sponsor, if at the time of such transfer such successor duly assumes all the obligations of the Sponsor under this Agreement, and in such event, the Sponsor shall be relieved of all further liability under this Agreement.

Appears in 1 contract

Samples: Diamonds Trust Series I

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Certain Matters Regarding Successor Sponsor. The covenants, provisions and agreements herein contained shall in every case be binding upon any successor to the business of the Sponsor. The Sponsor may transfer all or substantially all of its assets to an entity which carries on the business of the Sponsor, if at the time of such transfer such successor duly assumes all the obligations of the Sponsor under this AgreementDeclaration of Trust, and in such event, the Sponsor shall be relieved of all further liability under this AgreementDeclaration of Trust.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Global Currency Gold Trust)

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