Common use of Joint holders Clause in Contracts

Joint holders. Where a Unit to be redeemed is registered in more than one name, the redemption proceeds shall be deemed to be owed to the holders of such Unit upon joint account and may be paid to all or any of such registered holders and the payment to and/or receipt by all or any of such registered holders shall constitute a valid discharge of the Trust for the proceeds so paid or delivered.

Appears in 17 contracts

Sources: Trust Agreement (Sprott Physical Copper Trust), Trust Agreement (Sprott Physical Copper Trust), Trust Agreement (Sprott Physical Gold Trust)

Joint holders. Where a Unit to be redeemed is registered in more than one name, the redemption proceeds shall be deemed to be owed to the holders of such Unit upon joint account and may be paid to all or any of such registered holders and the payment to and/or receipt by all or of any of such registered holders shall constitute a valid discharge of the Trust for the proceeds so paid or delivered.

Appears in 1 contract

Sources: Trust Agreement (Sprott Physical Gold Trust)