Common use of Custody Fee Clause in Contracts

Custody Fee. The Initial Depositor reserves the right to charge the holders of Gold Deposit Receipts a custody fee, not to exceed 0.50% per annum of the daily average closing price of Gold Bullion represented by the Gold Deposit Receipts, as calculated by the Initial Depositor, acting in good faith. If the Initial Depositor imposes such a fee, it will provide reasonable advance notice to the Trust, the Trustee and the Authorized Participants, who will notify holders, and will also make available a notice relating to such charges. The amount of any such fee will be reflected as an increase in the deposit fee charged to holders at the time they purchase Gold Deposit Receipts.