Common use of Ownership of Physical Gold Clause in Contracts

Ownership of Physical Gold. The Custodian will identify in its books that the Physical Gold belongs to the Trustee (on trust for the Shareholders). The Custodian shall ensure that the Physical Gold belonging to the Trustee (on trust for the Shareholders) shall not be pledged by the Custodian or leased to any other party and that it shall at all times be free and clear of all liens and encumbrances, whether arising by operation of law or otherwise.

Ownership of Physical Gold. The Custodian will identify in its books that the Physical Gold belongs to the Trustee (on trust for the Shareholders). The Custodian shall ensure that the Physical Gold belonging to the Trustee (on trust for the Shareholders) shall not be pledged by the Custodian or leased to any other party and that it a Fund shall at all times be free and clear of all liens and encumbrancesencumbrances and shall not be subject to any right, charge, security interest, lien or claim of any kind, whether arising by operation of law or otherwise, in favor of the Custodian, any Sub-Custodian or any creditor of any of them or any other person. The Custodian shall not loan, hypothecate, pledge or otherwise encumber any Physical Gold held in a Fund Allocated Account absent the Trust’s written instructions to the contrary.