Silver Custodian definition

Silver Custodian means the custodian of the Silver Bullion appointed pursuant to Section 17.5 hereof and shall include the Royal Canadian Mint and any sub-custodians appointed by the Royal Canadian Mint which from time to time hold the Silver Bullion pursuant to the Storage Agreement or a separate written custodial agreement;
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Silver Custodian means the custodian of the Silver Bullion appointed pursuant to Section 17.5 hereof and shall include the Royal Canadian Mint and any sub-custodians appointed by the Royal Canadian Mint which from time to time hold the Silver Bullion pursuant to the Storage Agreement or a separate written custodial agreement; (ooo) “Silver Redemption Notice” means a written request signed by a Unitholder, which must be guaranteed by a Canadian chartered bank, or by a medallion signature guarantee from a member of a recognized Signature Medallion Guarantee Program, as described in Section 6.1 hereof substantially in the form of Schedule E attached hereto, or in such other form as the Manager may from time to time in its sole discretion determine; (ppp) “Storage Agreement” means the silver storage agreement between the Manager, on behalf of the Trust, and the Silver Custodian, to be dated on or about the date of filing the final Disclosure Documents with the applicable Securities Authorities, as the same may be amended, restated or supplemented from time to time; (qqq) “Sub-Custodian Guidelines” has the meaning ascribed thereto in subsection 17.6(h) hereof; (rrr) “Tax Act” means the Income Tax Act (Canada) and the regulations, rules, requirements and policies promulgated thereunder, as amended from time to time; (sss) “Termination Event” has the meaning ascribed thereto in subsection 14.1(c) hereof; (ttt) “Trust” means Sprott Physical Silver Trust, a closed-end mutual fund trust established under the laws of the Province of Ontario and governed by this Trust Agreement; (uuu) “Trust Agreement” means this amended and restated trust agreement dated as of February 27, 2015 between the Manager and the Trustee, as the same may be further amended, restated, supplemented or replaced from time to time;
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Examples of Silver Custodian in a sentence

  • It shall be the responsibility of the Manager to ensure that all investments of the Trust Property held by the Trustee and the Silver Custodian are made in such a way as to comply with any statement made in any current Disclosure Documents or like offering document of the Trust as to the Investment Policy applicable to the Trust and so as to comply with this Trust Agreement and Applicable Laws.

  • As compensation for custodial services rendered to the Trust with respect to the Silver Bullion and other Trust Property, the Silver Custodian and the Custodian shall be entitled to receive such fees as the Manager may approve from time to time pursuant to a separate written agreement with each of the Silver Custodian and the Custodian.

  • The Auditors shall have access to all records relating to the affairs of the Trust including the relevant records of the Manager, the Trustee, any Investment Manager, the Silver Custodian, the Custodian, any sub-custodians, the Registrar and Transfer Agent and the Valuation Agent, subject to any confidentiality and/or privacy requirements that may apply in the circumstances.

  • The Manager shall appoint the Silver Custodian to hold the Silver Bullion.

  • Subject to the foregoing paragraph, the Trust and the Manager agree that the Silver Bullion will be held by the Silver Custodian appointed by the Manager, on behalf of the Trust, and the Trust Property other than the Silver Bullion will be held by the Custodian appointed by the Manager, on behalf of the Trust.

  • Also, the redeeming Unitholder will be responsible for reimbursing the Trust for in-and-out fees charged to the Trust by the Silver Custodian.

  • In the event of a loss after the Silver Bullion has been placed with the armoured transportation service carrier, the Unitholder will not have recourse against the Trust or the Silver Custodian.

  • Once the Silver Bullion representing the redeemed Units has been placed with the armoured transportation service carrier, the Silver Custodian will no longer bear the risk of loss of, and damage to, such Silver Bullion.

  • The calculation of the Net Asset Value of the Trust shall be the responsibility of the Manager, who may consult with the Valuation Agent, any Investment Manager, the Silver Custodian, the Custodian and/or the Auditors.

Related to Silver Custodian

  • Repo Custodian shall have the meaning set forth in the preamble of this Agreement.

  • Sub-Custodian means and include (i) any branch of a “U.S. bank,” as that term is defined in Rule 17f-5 under the 1940 Act, and (ii) any “Eligible Foreign Custodian” having a contract with the Custodian which the Custodian has determined will provide reasonable care of assets of the Fund based on the standards specified in Section 3.3 below. Such contract shall be in writing and shall include provisions that provide: (i) for indemnification or insurance arrangements (or any combination of the foregoing) such that the Fund will be adequately protected against the risk of loss of assets held in accordance with such contract; (ii) that the Foreign Securities will not be subject to any right, charge, security interest, lien or claim of any kind in favor of the Sub-Custodian or its creditors except a claim of payment for their safe custody or administration, in the case of cash deposits, liens or rights in favor of creditors of the Sub-Custodian arising under bankruptcy, insolvency, or similar laws; (iii) that beneficial ownership for the Foreign Securities will be freely transferable without the payment of money or value other than for safe custody or administration; (iv) that adequate records will be maintained identifying the assets as belonging to the Fund or as being held by a third party for the benefit of the Fund; (v) that the Fund’s independent public accountants will be given access to those records or confirmation of the contents of those records; and (vi) that the Fund will receive periodic reports with respect to the safekeeping of the Fund’s assets, including, but not limited to, notification of any transfer to or from a Fund's account or a third party account containing assets held for the benefit of the Fund. Such contract may contain, in lieu of any or all of the provisions specified in (i)-(vi) above, such other provisions that the Custodian determines will provide, in their entirety, the same or a greater level of care and protection for Fund assets as the specified provisions.

  • Custodian means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

  • Primary Custodian the meaning set forth in Rule 17f-7(b)(2).

  • DTC Custodian means the custodian of the DTC Notes on behalf of DTC, which initially shall be the Global Agent.

  • Foreign Custodian means a bank or other financial institution (other than a Foreign Depository) located outside the U.S. which is utilized by the Custodian, in connection with the purchase, sale or custody of Securities or cash hereunder and is identified to the Fund from time to time by the Custodian.

  • ADS Custodian means the person then acting as custodian under the Deposit Agreement. The ADS Custodian as of the Issue Date is The Bank of New York Mellon.

  • XXXXX Administrator means the Bank of England (or any successor administrator of the Sterling Overnight Index Average).

  • Book-Entry Custodian The custodian appointed pursuant to Section 5.01.

  • Bankruptcy Custodian means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

  • Note Custodian means the Trustee, as custodian with respect to the Notes in global form, or any successor entity thereto.

  • Special Sub-Custodian Each such duly appointed Special Sub-Custodian shall be listed on Schedule D hereto, as it may be amended from time to time by a Fund, with the acknowledgment of the Custodian. In connection with the appointment of any Special Sub-Custodian, and in accordance with Special Instructions, the Custodian shall enter into a sub-custodian agreement with the Fund and the Special Sub-Custodian in form and substance approved by such Fund, provided that such agreement shall in all events comply with the provisions of the 1940 Act and the rules and regulations thereunder and the terms and provisions of this Agreement.

  • Foreign Custody Manager has the meaning set forth in section (a)(3) of Rule 17f-5.

  • Securities Custodian means the custodian with respect to a Global Security (as appointed by the Depository) or any successor person thereto, who shall initially be the Trustee.

  • Collateral Custodian means U.S. Bank National Association, solely in its capacity as collateral custodian, together with its successors and permitted assigns in such capacity.

  • Corporate Administrator means, with respect to the Issuer, Deutsche International Corporate Services Limited whose registered office is at St. Paul's Gate, New Street, St. Helier, Jersey, JE4 8ZB, Channel Islands and any successor or replacement thereto.

  • Account Administrator means the person(s) who have been granted authority by Customer to set up, amend, or otherwise control settings and/or make additional purchases for the Account via the Administrative Portal. Account Administrators may have varying levels of Account rights, skills, or permissions.

  • Portfolio Administrator means any entity and any successor or replacement thereto, as specified in the Final Terms for each Series of ETP Securities, appointed as Portfolio Administrator in accordance with the terms of the relevant Portfolio Administration Agreement.

  • Subcustodian means a bank (including any branch thereof) or other financial institution (other than a Foreign Depository) located outside the U.S. which is utilized by Custodian in connection with the purchase, sale or custody of Securities hereunder and identified to the Fund from time to time, and their respective successors and nominees.

  • SARON Administrator means the SIX Swiss Exchange AG (or any successor administrator of the Swiss Average Rate Overnight).