Common use of Gold Standards Clause in Contracts

Gold Standards. All Gold to be transferred between the Trust and the Authorized Participant in connection with any Order shall meet the applicable requirements of The Good Delivery Rules for Gold and Silver Bars (the "Good Delivery Rules") promulgated by the London Bullion Market Association (the "LBMA"), which include standards for fineness. As provided in the Authorized Participant's Participant Unallocated Bullion Account Agreement and in the Trust Unallocated Bullion Agreement, amounts of Gold standing to the credit of an Authorized Participant's Participant Unallocated Account or the Trust Unallocated Account, as the case may be, are held on an Unallocated Basis, which, as provided by those agreements, means only that each of the Authorized Participant or the Trust, as the case may be, is entitled to call on the Participant's Custodian or the Custodian, as the case may be, to deliver in accordance with the Good Delivery Rules an amount of Gold equal to the amount of Gold standing to the credit of the Authorized Participant's or the Trust's relevant unallocated bullion account, as the case may be, but neither the Authorized Participant nor the Trust has any ownership interest in any Gold that the Participant's Custodian or the Custodian, as the case may be, owns or holds. The Sponsor and the Trustee may, from time to time, pursuant to the Trust Indenture and as disclosed in the Prospectus, specify other gold bullion to be held by the Trust and which therefore may be transferred between the Trust and an Authorized Participant in connection with any Order, provided that such other gold bullion must meet the standard of fineness specified under the Good Delivery Rules. A copy of the Good Delivery Rules may be obtained from the LBMA.

Gold Standards. All Gold to be transferred between the Trust and the Authorized Participant in connection with any Order shall meet the applicable requirements of The Good Delivery Rules standards and specifications for Gold and Silver Bars gold bullion set forth in the good delivery rules (the "“Good Delivery Rules"”) promulgated by the London Bullion Market Association (the "“LBMA")”) from time to time, which include standards for fineness. As provided in (i), if the Custodian is HSBC, the Authorized Participant's ’s Participant Unallocated Bullion Account Agreement and the Trust’s Unallocated Bullion Account Agreement or (ii), if the Custodian is JPM, the Clearing Bank Unallocated Account Agreement and the Trust’s Unallocated Precious Metal Account Agreement with JPMthe Authorized Participant’s Participant Unallocated Bullion Account Agreement and in the Trust Trust’s Unallocated Bullion Account Agreement, amounts of Gold standing to the credit of an Authorized Participant's ’s Participant Unallocated Account or the Trust Unallocated Account, as the case may be, are held on an Unallocated Basis, which, as provided by those agreements, means only that each of the Authorized Participant or the Trust, as the case may be, is entitled to call on the Participant's ’s Custodian or the Custodian, as the case may be, to deliver in accordance with the Good Delivery Rules an amount of Gold equal to the amount of Gold standing to the credit of the Authorized Participant's ’s or the Trust's ’s relevant unallocated bullion account, as the case may be, but neither the Authorized Participant nor the Trust has any ownership interest in any Gold that the Participant's ’s Custodian or the Custodian, as the case may be, owns or holds. The Sponsor and the Trustee may, from time to time, pursuant to the Trust Indenture and as disclosed in the Prospectus, specify other gold bullion to be held by the Trust and which therefore may be transferred between the Trust and an Authorized Participant in connection with any Order, provided that such other gold bullion must meet meets the standard of fineness specified under the Good Delivery Rules. A copy of the Good Delivery Rules may be obtained from the LBMA.

Gold Standards. All Gold to be transferred between the Trust and the Authorized Participant in connection with any Order shall meet the applicable requirements of The Good Delivery Rules standards and specifications for Gold and Silver Bars gold bullion set forth in the good delivery rules (the "“Good Delivery Rules"”) promulgated by the London Bullion Market Association (the "“LBMA")”) from time to time, which include standards for fineness. As provided in (i), if the Custodian is HSBC, the Authorized Participant's ’s Participant Unallocated Bullion Account Agreement and in the Trust Trust’s Unallocated Bullion AgreementAccount Agreement or (ii), if the Custodian is JPM, the Clearing Bank Unallocated Account Agreement and the Trust’s Unallocated Precious Metal Account Agreement with HSBC or JPM, as applicable, amounts of Gold standing to the credit of an Authorized Participant's ’s Participant Unallocated Account or the Trust Unallocated Account, as the case may be, are held on an Unallocated Basis, which, as provided by those agreements, means only that each of the Authorized Participant or the Trust, as the case may be, is entitled to call on the Participant's ’s Custodian or the Custodian, as the case may be, to deliver in accordance with the Good Delivery Rules an amount of Gold equal to the amount of Gold standing to the credit of the Authorized Participant's ’s or the Trust's ’s relevant unallocated bullion account, as the case may be, but neither the Authorized Participant nor the Trust has any ownership interest in any Gold that the Participant's ’s Custodian or the Custodian, as the case may be, owns or holds. The Sponsor and the Trustee may, from time to time, pursuant to the Trust Indenture and as disclosed in the Prospectus, specify other gold bullion to be held by the Trust and which therefore may be transferred between the Trust and an Authorized Participant in connection with any Order, provided that such other gold bullion must meet meets the standard of fineness specified under the Good Delivery Rules. A copy of the Good Delivery Rules may be obtained from the LBMA.

Gold Standards. All Gold to be transferred between the Trust and the Authorized Participant in connection with any Order shall meet the applicable requirements of The Good Delivery Rules standards and specifications for Gold and Silver Bars gold bullion set forth in the good delivery rules (the "“Good Delivery Rules"”) promulgated by the London Bullion Market Association (the "“LBMA")”) from time to time, which include standards for fineness. As provided in (i), if the Custodian is HSBC, the Authorized Participant's ’s Participant Unallocated Bullion Account Agreement and in the Trust Trust’s Unallocated Bullion AgreementAccount Agreement or (ii), if the Custodian is JPM, the Clearing Bank Unallocated Account Agreement and the Trust’s Unallocated Precious Metal Account Agreement with JPM, amounts of Gold standing to the credit of an Authorized Participant's ’s Participant Unallocated Account or the Trust Unallocated Account, as the case may be, are held on an Unallocated Basis, which, as provided by those agreements, means only that each of the Authorized Participant or the Trust, as the case may be, is entitled to call on the Participant's ’s Custodian or the Custodian, as the case may be, to deliver in accordance with the Good Delivery Rules an amount of Gold equal to the amount of Gold standing to the credit of the Authorized Participant's ’s or the Trust's ’s relevant unallocated bullion account, as the case may be, but neither the Authorized Participant nor the Trust has any ownership interest in any Gold that the Participant's ’s Custodian or the Custodian, as the case may be, owns or holds. The Sponsor and the Trustee may, from time to time, pursuant to the Trust Indenture and as disclosed in the Prospectus, specify other gold bullion to be held by the Trust and which therefore may be transferred between the Trust and an Authorized Participant in connection with any Order, provided that such other gold bullion must meet meets the standard of fineness specified under the Good Delivery Rules. A copy of the Good Delivery Rules may be obtained from the LBMA.