Common use of Certain Obligations of Authorized Participants Clause in Contracts

Certain Obligations of Authorized Participants. 14 Section 3.1 Liability of Authorized Participants for Taxes and Other Governmental Charges 14 Section 3.2 Tax Returns 14 Section 3.3 Warranties on Deposit of Gold Bullion 14 ARTICLE 4 ADMINISTRATION OF THE TRUST 14 Section 4.1 Evaluation of Gold Bullion 14 Section 4.2 Payment of Expenses 15 Section 4.3 Grantor Trust 15 Section 4.4 Trust Administration 15 Section 4.5 Trust Administration 15 ARTICLE 5 THE INITIAL DEPOSITOR AND THE TRUSTEE 15 Page

Certain Obligations of Authorized Participants. 14 Section 3.1 Liability of Authorized Participants for Taxes and Other Governmental Charges 14 Section 3.2 Tax Returns 14 Section 3.3 Warranties on Deposit of Gold Bullion 14 ARTICLE 4 ADMINISTRATION OF THE TRUST 14 Section 4.1 Evaluation of Gold Bullion 14 Section 4.2 Payment of Expenses 15 Section 4.3 Grantor Trust 15 Section 4.4 Trust Administration 15 Section 4.5 Trust Administration 15 ARTICLE 5 THE INITIAL DEPOSITOR AND THE TRUSTEE 15 Page15

Certain Obligations of Authorized Participants. 14 13 Section 3.1 Liability of Authorized Participants for Taxes and Other Governmental Charges 14 13 Section 3.2 Tax Returns 14 13 Section 3.3 Warranties on Deposit of Gold Bullion 14 13 ARTICLE 4 ADMINISTRATION OF THE TRUST 14 13 Section 4.1 Evaluation of Gold Bullion 14 13 Section 4.2 Payment of Expenses 15 13 Section 4.3 Grantor Trust 15 14 Section 4.4 Trust Administration 15 Section 4.5 Trust Administration 15 ARTICLE 5 THE INITIAL DEPOSITOR AND THE TRUSTEE 15 Page14