Common use of Zurich Sub-Custodians Clause in Contracts

Zurich Sub-Custodians. The Custodian may employ Zurich Sub-Custodians for the custody and safekeeping of platinum and palladium in their Zurich vault premises. The Custodian will use reasonable care in selecting any Zurich Sub-Custodian. As of the date of this Agreement, the Zurich Sub-Custodian that the Custodian uses is UBS AG. The Custodian will notify each of the Trustee and the Sponsor if it selects any additional Zurich Sub-Custodian, or stops using any Zurich Sub-Custodian for such purpose. The receipt of notice by each of the Trustee and the Sponsor that the Custodian has selected a Zurich Sub-Custodian (including those named in this clause 8.3) shall not be deemed to limit the Custodian’s responsibility in selecting such Zurich Sub-Custodian. Nothing in clause 8.2 shall limit the Custodian’s liability with respect to platinum or palladium held by a Zurich Sub-Custodian. In addition to the requirements of clauses 7.2 and 7.3, the Custodian shall require any Zurich Sub-Custodian to segregate the Bullion from any platinum and palladium which they hold for the Custodian and any other customers of the Custodian or the Zurich Sub-Custodian by making appropriate entries in their books and records. On entering into this Agreement and on the appointment of any subsequent Zurich Sub-Custodian, the Custodian shall give to such Zurich Sub-Custodian a notice in the form of Schedule 1 and ensure that such Zurich Sub-Custodian delivers to the Custodian (with a copy to the Trustee and the Sponsor) a countersigned copy of such notice prior to delivery of any Bullion to it.

Zurich Sub-Custodians. The Custodian may employ Zurich Sub-Custodians for the custody and safekeeping of platinum and palladium in their Zurich bonded Swiss vault premises. The Custodian will use reasonable care in selecting any Zurich Sub-Custodian. As of the date of this Agreement, the Zurich Sub-Custodian Custodians that the Custodian uses is UBS AGare Brink’s Global Services Inc. and ViaMat International. The Custodian will notify each of the Trustee and the Sponsor Company if it selects any additional Zurich Sub-Custodian, or stops using any Zurich Sub-Custodian for such purpose. The receipt of notice by each of the Trustee and the Sponsor Company that the Custodian has selected a Zurich Sub-Custodian (including those named in this clause 8.39.3) shall not be deemed to limit the Custodian’s responsibility in selecting such Zurich Sub-Custodian. Nothing in clause 8.2 9.2 shall limit the Custodian’s liability with respect to platinum or palladium held by a Zurich Sub-Custodian. In addition to the requirements of clauses 7.2 Clauses 8.2 and 7.38.3, the Sub-Custodian shall require any Zurich Sub-Custodian to segregate the Bullion from any platinum and or palladium which they hold for the Custodian and any other customers of the Custodian or the Zurich Sub-Custodian by making appropriate entries in their books and records. On entering into this Agreement and on the appointment of any subsequent Zurich Sub-Custodian, the Custodian shall give to such Zurich Sub-Custodian a notice notices in the form of Schedule 1 and ensure that such the Zurich Sub-Custodian delivers to the Custodian Trustee (with a copy to the Trustee and Issuer) acknowledgements in the Sponsor) a countersigned copy form of such notice Schedule 2 prior to delivery of any Bullion to it.

Zurich Sub-Custodians. The Custodian may employ Zurich Sub-Custodians for the custody and safekeeping of platinum and palladium in their Zurich vault premises. The Custodian will use reasonable care in selecting any Zurich Sub-Custodian. As of the date of this Agreement, the Zurich Sub-Custodian that the Custodian uses is UBS AG. The Custodian will notify each of the Trustee and the Sponsor if it selects any additional Zurich Sub-Custodian, or stops using any Zurich Sub-Custodian for such purpose. The receipt of notice by each of the Trustee and the Sponsor that the Custodian has selected a Zurich Sub-Custodian (including those named in this clause 8.3) shall not be deemed to limit the Custodian’s responsibility in selecting such Zurich Sub-Custodian. Nothing in clause 8.2 shall limit the Custodian’s liability with respect to platinum or palladium held by a Zurich Sub-Custodian. In addition to the requirements of clauses 7.2 and 7.3, the Custodian shall require any Zurich Sub-Custodian to segregate the Bullion from any platinum and palladium which they hold for the Custodian and any other customers of the Custodian or the Zurich Sub-Custodian by making appropriate entries in their books and records. On entering into this Agreement and on the appointment of any subsequent Zurich Sub-Custodian, the Custodian shall give to such Zurich Sub-Custodian a notice in the form of Schedule 1 and ensure that such Zurich Sub-Custodian delivers to the Custodian (with a copy to the Trustee and the Sponsor) a countersigned copy of such notice prior to delivery of any Bullion to it.

Zurich Sub-Custodians. The Custodian may employ Zurich Sub-Custodians for the custody and safekeeping of platinum and palladium gold in their Zurich vault premises. The Custodian will use reasonable care in selecting any Zurich Sub-Custodian. As of the date of this Agreement, the Zurich Sub-Custodian that the Custodian uses is UBS AG. The Custodian will notify each of the Trustee and the Sponsor if it selects any additional Zurich Sub-Custodian, or stops using any Zurich Sub-Custodian for such purpose. The receipt of notice by each of the Trustee and the Sponsor that the Custodian has selected a Zurich Sub-Custodian (including those named in this clause 8.3) shall not be deemed to limit the Custodian’s responsibility in selecting such Zurich Sub-Custodian. Nothing in clause 8.2 shall limit the Custodian’s liability with respect to platinum or palladium gold held by a Zurich Sub-Custodian. In addition to the requirements of clauses 7.2 and 7.3, the Custodian shall require any Zurich Sub-Custodian to segregate the Bullion from any platinum and palladium gold which they hold for the Custodian and any other customers of the Custodian or the Zurich Sub-Custodian by making appropriate entries in their books and records. On entering into this Agreement and on the appointment of any subsequent Zurich Sub-Custodian, the Custodian shall give to such Zurich Sub-Custodian a notice notices in the form of Schedule 1 and ensure that such the Zurich Sub-Custodian delivers to the Custodian Trustee (with a copy to the Trustee and the Sponsor) a countersigned copy acknowledgements in the form of such notice Schedule 2 prior to delivery of any Bullion to it.

Zurich Sub-Custodians. The Custodian may employ Zurich Sub-Custodians for the custody and safekeeping of platinum and palladium in their Zurich vault premises. The Custodian will use reasonable care in selecting any Zurich Sub-Custodian. As of the date of this Agreement, the Zurich Sub-Custodian that the Custodian uses is UBS AG. The Custodian will notify each of the Trustee and the Sponsor if it selects any additional Zurich Sub-Custodian, or stops using any Zurich Sub-Custodian for such purpose. The receipt of notice by each of the Trustee and the Sponsor that the Custodian has selected a Zurich Sub-Custodian (including those named in this clause 8.3) shall not be deemed to limit the Custodian’s responsibility in selecting such Zurich Sub-Custodian. Nothing in clause 8.2 shall limit the Custodian’s liability with respect to platinum or palladium held by a Zurich Sub-Custodian. In addition to the requirements of clauses 7.2 and 7.3, the Custodian shall require any Zurich Sub-Custodian to segregate the Bullion from any platinum and palladium which they hold for the Custodian and any other customers of the Custodian or the Zurich Sub-Custodian by making appropriate entries in their books and records. On entering into this Agreement and on the appointment of any subsequent Zurich Sub-Custodian, the Custodian shall give to such Zurich Sub-Custodian a notice notices in the form of Schedule 1 and ensure that such the Zurich Sub-Custodian delivers to the Custodian Trustee (with a copy to the Trustee and the Sponsor) a countersigned copy acknowledgements in the form of such notice Schedule 2 prior to delivery of any Bullion to it.

Zurich Sub-Custodians. The Custodian may employ Zurich Sub-Custodians for the custody and safekeeping of platinum and palladium in their Zurich vault premises. The Custodian will use reasonable care in selecting any Zurich Sub-Custodian. As of the date of this Agreement, the Zurich Sub-Custodian that the Custodian uses is UBS AG. The Custodian will notify each of the Trustee and the Sponsor if it selects any additional Zurich Sub-Custodian, or stops using any Zurich Sub-Custodian for such purpose. The receipt of notice by each of the Trustee and the Sponsor that the Custodian has selected a Zurich Sub-Custodian (including those named in this clause 8.3) shall not be deemed to limit the Custodian’s responsibility in selecting such Zurich Sub-Custodian. Nothing in clause 8.2 shall limit the Custodian’s liability with respect to platinum or palladium held by a Zurich Sub-Custodian. In addition to the requirements of clauses 7.2 and 7.3, the Custodian shall require any Zurich Sub-Custodian to segregate the Bullion from any platinum and palladium which they hold for the Custodian and any other customers of the Custodian or the Zurich Sub-Custodian by making appropriate entries in their books and records. On entering into this Agreement and on the appointment of any subsequent Zurich Sub-Custodian, the Custodian shall give to such Zurich Sub-Custodian a notice in the form of Schedule 1 and ensure that such Zurich Sub-Custodian delivers to the Custodian (with a copy to the Trustee and the Sponsor) a countersigned copy of such notice prior to delivery of any Bullion to it.

Zurich Sub-Custodians. The Custodian may employ Zurich Sub-Custodians for the custody and safekeeping of platinum and palladium gold in their Zurich vault premises. The Custodian will use reasonable care in selecting any Zurich Sub-Custodian. As of the date of this Agreement, the Zurich Sub-Custodian that the Custodian uses is UBS AG. The Custodian will notify each of the Trustee and the Sponsor if it selects any additional Zurich Sub-Custodian, or stops using any Zurich Sub-Custodian for such purpose. The receipt of notice by each of the Trustee and the Sponsor that the Custodian has selected a Zurich Sub-Custodian (including those named in this clause 8.3) shall not be deemed to limit the Custodian’s responsibility in selecting such Zurich Sub-Custodian. Nothing in clause 8.2 shall limit the Custodian’s liability with respect to platinum or palladium gold held by a Zurich Sub-Custodian. In addition to the requirements of clauses 7.2 and 7.3, the Custodian shall require any Zurich Sub-Custodian to segregate the Bullion from any platinum and palladium gold which they hold for the Custodian and any other customers of the Custodian or the Zurich Sub-Custodian by making appropriate entries in their books and records. On entering into this Agreement and on the appointment of any subsequent Zurich Sub-Custodian, the Custodian shall give to such Zurich Sub-Custodian a notice in the form of Schedule 1 and ensure that such Zurich Sub-Custodian delivers to the Custodian (with a copy to the Trustee and the Sponsor) a countersigned copy of such notice prior to delivery of any Bullion to it.and

Zurich Sub-Custodians. The Custodian may employ Zurich Sub-Custodians for the custody and safekeeping of platinum and palladium in their Zurich vault premises. The Custodian will use reasonable care in selecting any Zurich Sub-Custodian. As of the date of this Agreement, the Zurich Sub-Custodian that the Custodian uses is UBS AG. The Custodian will notify each of the Trustee and the Sponsor if it selects any additional Zurich Sub-Custodian, or stops using any Zurich Sub-Custodian for such purpose. The receipt of notice by each of the Trustee and the Sponsor that the Custodian has selected a Zurich Sub-Custodian (including those named in this clause 8.3) shall not be deemed to limit the Custodian’s responsibility in selecting such Zurich Sub-Custodian. Nothing in clause 8.2 shall limit the Custodian’s liability with respect to platinum or palladium held by a Zurich Sub-Custodian. In addition to the requirements of clauses 7.2 and 7.3, the Custodian shall require any Zurich Sub-Custodian to segregate the Bullion from any platinum and palladium which they hold for the Custodian and any other customers of the Custodian or the Zurich Sub-Custodian by making appropriate entries in their books and records. On entering into this Agreement and on the appointment of any subsequent Zurich Sub-Custodian, the Custodian shall give to such Zurich Sub-Custodian a notice notices in the form of Schedule 1 and ensure that such the Zurich Sub-Custodian delivers to the Custodian Trustee (with a copy to the Trustee and the Sponsor) a countersigned copy acknowledgements in the form of such notice Schedule 2 prior to delivery of any Bullion to it.