Splits and Reverse Splits of Shares. If requested in writing by the Sponsor, the Trustee shall effect a split or reverse split of the Shares as of a record date set by the Trustee in accordance with procedures determined by the Trustee. The Trustee is not required to distribute any fraction of a Share in connection with a split or reverse split of the Shares. The Trustee may sell the aggregated fractions of Shares that would otherwise be distributed in a split or reverse split of the Shares or the amount of Trust Property that would be represented by those Shares and distribute the net proceeds of those Shares or that Trust Property to the Record Owners entitled to them. The amount of Trust Property represented by each Share and the Basket Gold Amount shall be adjusted as appropriate as of the open of business on the Business Day following the record date for a split or reverse split of the Shares.
Splits and Reverse Splits of Shares. (a) If requested in writing by the Sponsor, the Administrative Trustee shall effect a split or reverse split of the Shares as of a record date set by the Administrative Trustee in accordance with procedures determined by the Administrative Trustee.
Splits and Reverse Splits of Shares. If requested in writing by the Sponsor, the Trustee shall effect a split or reverse split of the Shares as of a record date set by the Trustee in accordance with procedures determined by the Trustee. The Trustee is not required to distribute any fraction of a Share in connection with a split or reverse split of the Shares. The Trustee may sell the aggregated fractions of Shares that would otherwise be distributed in a split or reverse split of the Shares or the amount of Trust Property that would be represented by those Shares and distribute the net proceeds of those Shares or that Trust Property to the Registered Owners entitled to them. The amount of Trust Property represented by each Share and the Basket Swiss Franc Amount shall be adjusted as appropriate as of the open of business on the New York Business Day following the record date for a split or reverse split of the Shares.
Splits and Reverse Splits of Shares. If requested in writing by the Sponsor, the Trustee shall effect a split or reverse split of the Shares as of a record date set by the Trustee in accordance with procedures determined by the Trustee and as may be required by the Depository. The Trustee shall not distribute any fraction of a Share in connection with a split or reverse split of the Shares. The Trustee shall sell the aggregated fractions of Shares that would otherwise be distributed in a split or reverse split of the Shares or the amount of Trust Property that would be represented by those Shares for the account of the Record Owners and distribute the net proceeds of those Shares or that Trust Property to the Record Owners entitled to them. The amount of Trust Property represented by each Share and the Basket Copper Amount shall be adjusted as appropriate as of the open of business on the Business Day following the record date for a split or reverse split of the Shares.
Splits and Reverse Splits of Shares. If requested in writing by the Sponsor, the Trustee shall effect a split or reverse split of the Shares as of a record date set by the Trustee in accordance with procedures determined by the Trustee. Unless otherwise directed by the Sponsor, the Trustee shall not be required to distribute any fraction of a Share in connection with a split or reverse split of the Shares. The Trustee may sell the aggregated fractions of Shares that would otherwise be distributed in a split or reverse split of the Shares or the amount of Trust Property that would be represented by those Shares and distribute the net proceeds of those Shares or that Trust Property to the Registered Owners entitled to them. The amount of Trust Property represented by each Share and the Basket Chinese Renminbi Amount shall be adjusted as appropriate as of the open of business on the New York Business Day following the record date for a split or reverse split of the Shares.
Splits and Reverse Splits of Shares. (a) If requested in writing by the Sponsor, the Transfer Agent shall effect a split or reverse split of the Shares as of a record date set by the Transfer Agent in accordance with procedures determined by the Transfer Agent.
Splits and Reverse Splits of Shares. If requested in writing by the Sponsor, the Trustee shall effect a split or reverse split of the Shares as of a record date set by the Trustee in accordance with procedures determined by the Trustee. Unless otherwise directed by the Sponsor, the Trustee shall not be required to distribute any fraction of a Share in connection with a split or reverse split of the
Splits and Reverse Splits of Shares. If requested in writing by the Sponsor, the Trustee shall effect a split or reverse split of the Shares as of a record date set by the Trustee in accordance with procedures determined by the Trustee. The Trustee is not required to distribute any fraction of a Share in connection with a split or reverse split of the Shares. The Trustee may sell the aggregated fractions of Shares that would otherwise be distributed in a split or reverse split of the Shares or the amount of Trust Property that would be represented by those Shares and distribute the net proceeds of those Shares or that Trust Property to the Registered Owners entitled to them. The amount of Trust Property represented by each Share and the Basket South African Rand Amount shall be adjusted as appropriate as of the open of business on the New York Business Day following the record date for a split or reverse split of the Shares.
Splits and Reverse Splits of Shares. 14 Section 2.11 Delivery of Gold to and from the Trust. 14 ARTICLE III CERTAIN OBLIGATIONS OF AUTHORIZED PARTICIPANTS 15 Section 3.1 Liability of Authorized Participants for Taxes and other Governmental Charges. 15 Section 3.2 Warranties on Deposit of Gold. 16 ARTICLE IV ADMINISTRATION OF THE TRUST 16 Section 4.1 Evaluation of Gold. 16 Section 4.2 Responsibility of the Trustee for Evaluations. 16 Section 4.3 Trust Evaluation. 17 Section 4.4 Cash Distributions. 17 Section 4.5 Other Distributions. 17 Section 4.6 Fixing of Record Date. 18 Section 4.7 Payment of Expenses; Gold Sales. 18 TABLE OF CONTENTS (continued) Page Section 4.8 Statements and Reports; Fiscal Year. 19 Section 4.9 Further Provisions for Gold Sales. 20 Section 4.10 Counsel. 20 Section 4.11 Grantor Trust. 21 Section 4.12 Reserve Account. 21 ARTICLE V THE TRUSTEE AND THE SPONSORS 21 Section 5.1 Maintenance of Office and Transfer Books by the Trustee. 21
Splits and Reverse Splits of Shares. (a) If requested in writing by the Sponsor, the Trustee shall effect a split or reclassification or combination (including to effectuate what is commonly referred to as a “reverse split”) of the Shares as of a record date set by the Trustee in accordance with procedures determined by the Trustee.
