Common use of SUB-CUSTODIANS Clause in Contracts

SUB-CUSTODIANS. We may select Sub-Custodians to perform any of our duties under this agreement including the custody and safekeeping of Bullion. The Sub-Custodians we select may themselves select subcustodians to perform their duties, but such subcustodians shall not by such selection or otherwise be, or be considered to be, a Sub-Custodian as such term is used herein. We will use reasonable care in selecting any Sub-Custodian. As of the execution of this Agreement, the Sub-Custodians that we use are: the Bank of England, The Bank of Nova Scotia (ScotiaMocatta), Deutsche Bank AG, JPMorganChase Bank, and UBS AG. We will notify you if we select any additional Sub-Custodian, or stop using any Sub-Custodian for such purpose. Your receipt of notice that we have selected a Sub-Custodian (including those named in this clause 8.1) shall not be deemed to limit our responsibility in selecting such Sub-Custodian. Not more frequently than annually, upon your request, we will confirm to you that from time to time we may hold Precious Metal for our own account with one or more of each of the Sub-Custodians, provided that this confirmation shall not constitute a representation by us regarding the solvency or creditworthiness of any Sub-Custodian.

Appears in 3 contracts

Samples: Agreement (SPDR Gold Trust), Agreement (streetTRACKS GOLD TRUST), Agreement (Equity Gold Trust)

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SUB-CUSTODIANS. We may select Sub-Custodians to perform any of our duties under this agreement including the custody and safekeeping of Bullion. The Sub-Custodians we select may themselves select subcustodians to perform their duties, but such subcustodians shall not by such selection or otherwise be, or be considered to be, a Sub-Custodian as such term is used herein. We will use reasonable care in selecting any Sub-Custodian. As of the execution of this Agreement, the Sub-Custodians that we use are: the Bank of England, The Bank of Nova Scotia (ScotiaMocatta), Deutsche Bank AG, JPMorganChase Bank, N M Rothschild & Sons Limited and UBS AG. We will notify you if we select any additional Sub-Custodian, or stop using any Sub-Custodian for such purpose. Your receipt of notice that we have selected a Sub-Custodian (including those named in this clause 8.1) shall not be deemed to limit our responsibility in selecting such Sub-Custodian. Not more frequently than annually, upon your request, we will confirm to you that from time to time we may hold Precious Metal for our own account with one or more of each of the Sub-Custodians, provided that this confirmation shall not constitute a representation by us regarding the solvency or creditworthiness of any Sub-Custodian.

Appears in 2 contracts

Samples: Account Agreement (Equity Gold Trust), Agreement (Equity Gold Trust)

SUB-CUSTODIANS. We may select Sub-Custodians to perform any of our duties under this agreement including the custody and safekeeping of Bullion. The Sub-Custodians we select may themselves select subcustodians to perform their duties, but such subcustodians shall not by such selection or otherwise be, or be considered to be, a Sub-Custodian as such term is used herein. We will use reasonable care in selecting any Sub-Custodian. As of the execution of this Agreement, the Sub-Custodians that we use are: the Bank of EnglandEng- land, The Bank of Nova Scotia (ScotiaMocatta), Deutsche Bank AG, JPMorganChase Bank, N M Rothschild & Sons Limited and UBS AG. We will notify you if we select any additional Sub-Custodian, or stop using any Sub-Custodian for such purpose. Your receipt of notice that we have selected a Sub-Custodian (including those named in this clause 8.1) shall not be deemed to limit our responsibility in selecting such Sub-Custodian. Not more frequently than annually, upon your request, we will confirm to you that from time to time we may hold Precious Metal for our own account with one or more of each of the Sub-Custodians, provided that this confirmation shall not constitute a representation by us regarding the solvency or creditworthiness of any Sub-Custodian.

Appears in 1 contract

Samples: Agreement (Equity Gold Trust)

SUB-CUSTODIANS. We may select appoint Sub-Custodians to perform any of our duties under this agreement including solely for the temporary custody and safekeeping of BullionBullion until transported to our London vault premises as provided in clause 7.4, unless otherwise agreed between the Trust and us with the consent of the Sponsor. Any such Sub-Custodian shall be a member of the LBMA. The Sub-Custodians we select may themselves select subcustodians to perform their dutiesprovide such temporary custody and safekeeping of Bullion, but such subcustodians shall not by such selection or otherwise be, or be considered to be, a Sub-Custodian as such term is used herein. We will use reasonable care in selecting any Sub-Custodian. As of the execution date of this Agreement, the Sub-Custodians that we use are: the Bank of England, The Bank of Nova Scotia (ScotiaMocatta), Deutsche Bank AG, JPMorganChase ICBC Standard Bank, JPMorgan Chase Bank, N.A., and UBS AG. We will notify you the Trust if we select any additional Sub-Sub- Custodian, or stop using any Sub-Custodian for such purpose. Your The Trust’s receipt of notice that we have selected a Sub-Custodian (including those named in this clause 8.1) shall not be deemed to limit our responsibility in selecting such Sub-Custodian. Not more frequently than annually, upon your the Trust’s request, we will shall confirm to you the Trust that from time to time we may hold Precious Metal for our own account with one or more of each of the Sub-Custodians, provided that this confirmation shall not constitute a representation by us regarding the solvency or creditworthiness of any Sub-Custodian.

Appears in 1 contract

Samples: Account Agreement (World Currency Gold Trust)

SUB-CUSTODIANS. We may select appoint Sub-Custodians to perform any of our duties under this agreement including solely for the temporary custody and safekeeping of BullionBullion until transported to our London vault premises as provided in clause 7.4, unless otherwise agreed between you and us with the consent of the Sponsor. The Sub-Custodians we select may themselves select subcustodians to perform their dutiesprovide such temporary custody and safekeeping of Bullion, but such subcustodians shall not by such selection or otherwise be, or be considered to be, a Sub-Custodian as such term is used herein. We will use reasonable care in selecting any Sub-Custodian. As of the execution date of this Agreement, the Sub-Custodians that we use are: the Bank of England, The Bank of Nova Scotia (ScotiaMocatta), Deutsche Deustche Bank AG, JPMorganChase JPMorgan Chase Bank, N.A., UBS AG and UBS AGBarclays Bank PLC. We will notify you if we select any additional Sub-Custodian, or stop using any Sub-Custodian for such purpose. Your receipt of notice that we have selected a Sub-Custodian (including those named in this clause 8.1) shall not be deemed to limit our responsibility in selecting such Sub-Custodian. Not more frequently than annually, upon your request, we will shall confirm to you that from time to time we may hold Precious Metal for our own account with one or more of each of the Sub-Custodians, provided that this confirmation shall not constitute a representation by us regarding the solvency or creditworthiness of any Sub-Custodian.

Appears in 1 contract

Samples: Agreement (SPDR Gold Trust)

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SUB-CUSTODIANS. We may select appoint Sub-Custodians to perform any of our duties under this agreement including solely for the temporary custody and safekeeping of BullionBullion until transported to our London vault premises as provided in clause 7.4, unless otherwise agreed between you and us with the consent of the Sponsor. The Sub-Custodians we select may themselves select subcustodians sub-custodians to perform their dutiesprovide such temporary custody and safekeeping of Bullion, but such subcustodians sub-custodians shall not by such selection or otherwise be, or be considered to be, a Sub-Custodian as such term is used herein. We will use reasonable care in selecting any Sub-Custodian. As of the execution date of this Agreement, the Sub-Custodians that we use are: the Bank of England, The Bank of Nova Scotia (ScotiaMocatta), Deutsche Deustche Bank AG, JPMorganChase JPMorgan Chase Bank, N.A., UBS AG and UBS AGBarclays Bank PLC. We will notify you if we select any additional Sub-Custodian, or stop using any Sub-Custodian for such purpose. Your receipt of notice that we have selected a Sub-Custodian (including those named in this clause 8.1) shall not be deemed to limit our responsibility in selecting such Sub-Custodian. Not more frequently than annually, upon your request, we will shall confirm to you that from time to time we may hold Precious Metal for our own account with one or more of each of the Sub-Custodians, provided that this confirmation shall not constitute a representation by us regarding the solvency or creditworthiness of any Sub-Custodian. Any Sub-Custodian shall be an LBMA member.

Appears in 1 contract

Samples: Agreement (SPDR Gold Trust)

SUB-CUSTODIANS. We may select employ Sub-Custodians to perform any of our duties under this agreement including solely for the temporary custody and safekeeping of BullionBullion until transported to our London vault premises as provided in clause 7.4, unless otherwise agreed between us with the consent of the Sponsor. The Sub-Custodians we select may themselves select subcustodians to perform their dutiesprovide such temporary custody and safekeeping of Bullion, but such subcustodians shall not by such selection or otherwise be, or be considered to be, a Sub-Custodian as such term is used herein. We will use reasonable care in selecting any Sub-Custodian. As of the execution date of Amendment No. 1 to this Agreement, the Sub-Custodians that we use are: the Bank of England, The Bank of Nova Scotia (ScotiaMocatta), Deutsche Deustche Bank AG, JPMorganChase Bank, N.A., UBS AG and UBS AGBarclays Bank PLC. We will notify you if we select any additional Sub-Custodian, or stop using any Sub-Custodian for such purpose. Your receipt of notice that we have selected a Sub-Custodian (including those named in this clause 8.1) shall not be deemed to limit our responsibility in selecting such Sub-Custodian. Not more frequently than annually, upon your request, we will shall confirm to you that from time to time we may hold Precious Metal for our own account with one or more of each of the Sub-Custodians, provided that this confirmation shall not constitute a representation by us regarding the solvency or creditworthiness of any Sub-Custodian.

Appears in 1 contract

Samples: SPDR Gold Trust

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