Precious Metal definition
Examples of Precious Metal in a sentence
To the extent that the Sponsor is authorized to sell Precious Metal under the Trust Agreement, the Custodian may, but is not required to, purchase such Precious Metal; provided that the purchase price for such Precious Metal shall be the prevailing market value at the time of the sale, as determined in a commercially reasonable manner using the same reference price for the Precious Metal that is used for calculating the applicable Fund’s daily net asset value.
The Sponsor’s instruction to sell Precious Metal may be an instruction to sell such amount of Precious Metal as necessary to produce a specified amount of United States dollars.
Where there is a shipment from the Custodian of Precious Metal, all right, title and risk in and to such Precious Metal shall pass at the Point of Delivery to the relevant person for whose account the Precious Metal is being delivered.
Unless otherwise instructed by the Sponsor on behalf of the Trust or the relevant person, the Custodian shall make any transportation and insurance arrangements in respect of delivery of Precious Metal in accordance with its usual practice.
We will credit to your Account the amount of Precious Metal transferred from a Depositor for credit to your Account.