Common use of Creation and Declaration of Trust Clause in Contracts

Creation and Declaration of Trust. (a) The Trust continued hereby shall be known as the “Vaulted Gold Bullion Trust,” in which name the Trustee may conduct the business of the Trust, make and execute contracts, and xxx and be sued. It is the intention of the parties hereto that the Trust created hereby constitutes a statutory trust under the Act, and that this document constitutes the governing instrument of the Trust. The execution and filing of the certificate of trust by the Trustee and the Delaware Trustee with the Delaware Secretary of State are hereby ratified. The Trustee acknowledges that on the date hereof, on behalf of the Trust, it has received from the Underwriter confirmation that the Mint has received a deposit of a specified amount, designated in xxxx ounces, of Gold Bullion from the Initial Depositor, and that the Mint has credited on its records such deposit to the Trust Allocated Account for the benefit of the Trust. The Gold Bullion shall be held at the Mint by the Bank of Montreal in the Trust Allocated Account for the benefit of the holders of the Gold Deposit Receipts for the purposes of, and subject to, and limited by, the terms and conditions set forth in, this Agreement. The Trust will offer initially the following three classes of Gold Deposit Receipts, all of which have the same rights and rank pari passu with one another, and shall each represent an undivided interest in one xxxx ounce of Gold Bullion: Class A Gold Deposit Receipts, Class F Gold Deposit Receipts, and Class F-1 Gold Deposit Receipts, the terms of which shall be identical, but which shall be subject to differing selling concessions or fees at the time of initial issuance and sale.

Creation and Declaration of Trust. (a) The Trust continued hereby shall be known as the “Vaulted Gold Bullion Trust,” in which name the Trustee may conduct the business of the Trust, make and execute contracts, and xxx and be sued. It is the intention of the parties hereto that the Trust created hereby constitutes a statutory trust under the Act, and that this document constitutes the governing instrument of the Trust. The execution and filing of the certificate of trust by the Trustee and the Delaware Trustee with the Delaware Secretary of State are hereby ratified. The Trustee acknowledges that on the date hereof, on behalf of the Trust, it has received from the Underwriter confirmation that the Mint has received a deposit of a specified amount, designated in xxxx ounces, of Gold Bullion from the Initial Depositor, and that the Mint has credited on its records such deposit to the Trust Allocated Account for the benefit of the Trust. The Gold Bullion shall be held at the Mint by the Bank of Montreal in the Trust Allocated Account for the benefit of the holders of the Gold Deposit Receipts for the purposes of, and subject to, and limited by, the terms and conditions set forth in, this Agreement. The From time to the Trust will offer initially the following three multiple classes of Gold Deposit Receipts, all of which have the same rights and rank pari passu with one another, and shall each represent an undivided interest in one xxxx ounce of Gold Bullion: Class A Gold Deposit Receipts, Class F Gold Deposit Receipts, and Class F-1 Gold Deposit Receipts, the . The terms of which these different classes shall be identical, but which the classes shall be subject to differing selling concessions or fees at the time of initial issuance and sale.