Class Net Asset Value per Unit definition

Class Net Asset Value per Unit in respect of any particular class or series of a class of Units is the portion of the Class Net Asset Value of the Trust attributed to each Unit of such class or series of a class determined in accordance with Section 3.5 and Section 3.6 hereof;

Class Net Asset Value per Unit means the Classs Net Asset Value attributable to each Unit in such Class;

Class Net Asset Value per Unit or “Class NAV per Unit” means, in respect of the Units of any particular Class of Units of the Trust on any particular Business Day, the portion of the Net Asset Value of the Trust attributed to each of the Units of such Class of the Trust.

Examples of Class Net Asset Value per Unit in a sentence

• The Unitholder will receive payment of redemption proceeds based on the Class Net Asset Value per Unit on the Valuation Date that next follows the termination of the suspension.

• The Manager shall within three Business Days following the determination of the Class Net Asset Value per Unit for the applicable Redemption Date distribute an amount equal to the Class Net Asset Value per Unit determined as of the relevant Redemption Date.

• For greater certainty, the calculation of the Net Asset Value of the Trust, the Net Asset Value per Unit, the Class Net Asset Value and the Class Net Asset Value per Unit for each class or series of a class of Units as at the Valuation Time on each Valuation Date pursuant to this Article 3 is for the purposes of determining subscription prices and redemption values of Units and not for the purposes of accounting in accordance with IFRS.

• The Class Net Asset Value per Unit will reflect any income and gains of the Fund that have accrued at the time Units are acquired.

• A Unitholder may have his or her Units redeemed as of the last Business Day of any calendar week (the “Redemption Date”) at the Class Net Asset Value per Unit as of the Redemption Date provided the Manager has received a notice of redemption in respect of such Units prior to 4:00 p.m. (Eastern time) on such Valuation Date, otherwise such Units will be redeemed on the next Valuation Date.

More Definitions of Class Net Asset Value per Unit

Class Net Asset Value per Unit means the Classs Net Asset Value attributable to each Unit in such Class; “CRA” means the Canada Revenue Agency;

Class Net Asset Value per Unit means the Net Asset Value attributable to each Unit of a Class calculated as described under “Valuation”;

Class Net Asset Value per Unit means, with respect to particular class of Units, the quotient obtained by dividing the Class Net Asset Value of a particular class of Units by the total number of outstanding Units of that class, including fractions of Units, if any;

Class Net Asset Value per Unit in respect of any particular class or series of a class of Units is the portion of the Class Net Asset Value of the Trust attributed to each Unit of such class or series of a class determined in accordance with Section 3.5 and Section 3.6 hereof; (r) “Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time; (s) “Common Expenses” means those expenses of the Trust other than Class Expenses; (t) “Corporate Action” means any conversion privileges, subscription rights, warrants or other rights or options available in connection with any securities forming part of the Trust Property, including those relating to the reorganization, recapitalization, takeover, consolidation, amalgamation, merger, liquidation, filing for or declaration of bankruptcy or plans of arrangement, of any corporation, association or other entity; (u) “Counsel” means any Person qualified and engaged in the practice of law in the Province of Ontario; (v) “Court” means any court of competent jurisdiction in the Province of Ontario; (w) “Custodian” means the custodian of the Trust Property, other than the Gold Bullion, appointed pursuant to Section 17.6 hereof and shall include the Trustee and any sub-custodians appointed by the Trustee which from time to time hold the Trust Property other than the Gold Bullion pursuant to this Trust Agreement or a separate written custodial agreement; (x) “Depository” means any authorized domestic or foreign depository or clearing or settlement agency or system, including a transnational book-based system, CDS or DTC; (y) “Designated Market” has the meaning ascribed thereto in Subsection 17.6(k) hereof; (z) “Disclosure Documents” means any (final) prospectus of the Trust filed in all provinces and territories of Canada and any registration statement of the Trust filed with the United States Securities and Exchange Commission, or similar offering documents as may be used by the Manager or required by applicable Securities Legislation in connection with qualifying the distribution of the Units to the public, including any amendments to such

Class Net Asset Value per Unit of the Units of a Class of Units, as of any date, shall equal the applicable Class Net Asset Value divided by the total number of Units of such Class then outstanding on such date, prior to any issuance or redemption of Units of such Class to be processed immediately following such calculation.

Class Net Asset Value per Unit means the Class Net Asset Value of an applicable Class of Trust Units divided by the total number of Trust Units of such Class outstanding at the applicable time.

Class Net Asset Value per Unit means the Class Net Asset Value attributable to each Unit in such Class; “Companies Law” means the Companies Law (2018 Revision) of the Cayman Islands;