Common use of Additional Events of Default Clause in Contracts

Additional Events of Default. (a) In addition to Clause 25 of the Account Terms, each of the following shall also constitute an Event of Default for the purposes of any Gold Trading Transaction: (i) in the case of a Purchase Confirmation, any default under a Corresponding Purchase Transaction and, after giving any applicable notice, requirement or grace period, such default results in a liquidation of, an acceleration of obligations under, or an early termination of, that Corresponding Purchase Transaction; (ii) in the case of a Sale Confirmation, any default under a Corresponding Sale Transaction and, after giving any applicable notice, requirement or grace period, such default results in a liquidation of, an acceleration of obligations under, or an early termination of, that Corresponding Sale Transaction; or (iii) the termination of the Gold Custody Services. (b) At any time after the occurrence of an Event of Default, we may, without notice to you, declare all or any outstanding Gold Trading Transactions, and the obligations of the parties under such Gold Trading Transactions, to be terminated as of such date as we may determine in our absolute discretion (the “Early Termination Date”), and regardless of whether the relevant Event of Default is continuing on the relevant Early Termination Date, such Gold Trading Transactions (being “Terminated Transactions) and obligations shall be terminated as of such Early Termination Date. We may send you a notice (the “Termination Notice”) to notify you of the Gold Trading Transactions that have been or will be terminated, the relevant Early Termination Date and the relevant Event(s) of Default. Notwithstanding our failure to send you a Termination Notice, the termination of the relevant Gold Trading Transactions shall be effective. (c) All outstanding monies which would otherwise be payable had such Terminated Transactions not been terminated shall forthwith be promptly returned to you or us (as the case may be) and you shall have no claim or right of action against us in any respect whatsoever and we shall cease to have any obligation to you hereunder. (d) For the avoidance of doubt, we shall not be liable to you for any Losses arising from the termination of any Gold Trading Transaction pursuant to this Clause 4.7. (e) The provisions set out in this Clause 4.7 are in addition to, and shall not prejudice any other rights we may have under this Agreement and/or any Applicable Agreement.

Additional Events of Default. (a) In addition to Clause 25 the Events of the Account TermsDefault listed in Section 22 of this Instrument, each of the following shall also constitute an Event of Default for the purposes of any Gold Trading TransactionDefault: (1) With regard to the Operating Lease, (i) in if the case Operating Lease is terminated for any reason prior to the stated term of a Purchase Confirmation, the Operating Lease or during any default under a Corresponding Purchase Transaction and, after giving any applicable notice, requirement or grace period, such default results in a liquidation of, an acceleration renewal period of obligations underthe Operating Lease, or an early termination of, that Corresponding Purchase Transaction; (ii) if Operator fails to exercise any or all renewal options contained in the case of a Sale Confirmation, any default under a Corresponding Sale Transaction and, after giving any applicable notice, requirement Operating Lease or grace period, such default results in a liquidation of, an acceleration of obligations under, or an early termination of, that Corresponding Sale Transaction; or (iii) if Borrower and Operator amend, modify or revise in any way the Operating Lease without the prior written consent of Lender, which consent shall be given in Lender’s sole and exclusive discretion or (iv) if a default occurs under the Operating Lease. Notwithstanding the foregoing, it shall not be an Event of Default upon the occurrence of any of (i), (ii) or (iv), if Borrower has entered into a new operating lease for the Facility with a term commencing upon the termination of the Gold Custody Services. existing Operating Lease (b) At any time after the occurrence of an Event of Default, we may, without notice or as to you, declare all or any outstanding Gold Trading Transactions, and the obligations of the parties under such Gold Trading Transactions, to be terminated as of such date as we may determine circumstances described in our absolute discretion clause (the “Early Termination Date”iv), and regardless of whether the relevant Event of Default is continuing on the relevant Early Termination Date, such Gold Trading Transactions (being “Terminated Transactions) and obligations shall be terminated as of such Early Termination Date. We may send you a notice (the “Termination Notice”) to notify you of the Gold Trading Transactions that have been or will be terminated, the relevant Early Termination Date and the relevant Event(s) of Default. Notwithstanding our failure to send you a Termination Notice, commencing upon the termination of the relevant Gold Trading Transactions existing Operating Lease, which shall be effectiveon a date agreed to by Lender, in Lender’s sole and exclusive discretion), containing the same terms and conditions as such existing Operating Lease or including such other terms and conditions as Lender may have approved in writing, with a new operator for the Facility which Lender has approved in writing prior to the execution of the new operating lease, which approval shall be given in Lender’s sole and exclusive discretion. (c2) All outstanding monies Any change of the Operator of the Facility or of any management agent of the Facility as of the date of this Instrument without Lender’s prior written consent, which would otherwise consent shall be payable had such Terminated Transactions not been terminated shall forthwith be promptly returned to you or us (as the case may begiven in Lender’s sole and exclusive discretion; provided, however, that Sections 21(d)(i)-(iii) and you 21(e)(ii)-(viii) and the definition of “Controlling Entity” shall have no claim or right apply to the Operator as modified solely for purposes of action against us this subsection as follows: the word “Borrower” used in any respect whatsoever these subsections shall be deleted and we shall cease to have any obligation to you hereunderreplaced with “Operator”. (d3) For Any failure by Operator to perform any of its obligations as and when required under any Loan Document which continues beyond the avoidance of doubtapplicable cure period, we shall not be liable to you for any Losses arising from the termination of any Gold Trading Transaction pursuant to this Clause 4.7if any, specified in that Loan Document. (e) The provisions set out in this Clause 4.7 are in addition to, and shall not prejudice any other rights we may have under this Agreement and/or any Applicable Agreement.

Additional Events of Default. (a) In addition to Clause 25 of the Account Terms, each of the following shall also constitute an Event of Default for the purposes of any Gold Trading Transaction: (i) in the case of a Purchase Confirmation, any default under a Corresponding Purchase Transaction and, after giving any applicable notice, requirement or grace period, such default results in a liquidation of, an acceleration of obligations under, or an early termination of, that Corresponding Purchase Transaction; (ii) in the case of a Sale Confirmation, any default under a Corresponding Sale Transaction and, after giving any applicable notice, requirement or grace period, such default results in a liquidation of, an acceleration of obligations under, or an early termination of, that Corresponding Sale Transaction; or (iii) the termination of the Gold Custody Services. (b) At any time after the occurrence of an Event of Default, we may, without notice to you, declare all or any outstanding Gold Trading Transactions, and the obligations of the parties under such Gold Trading DBS Bank Ltd 73 Co. Reg. No. 196800306E Transactions, to be terminated as of such date as we may determine in our absolute discretion (the “Early Termination Date”), and regardless of whether the relevant Event of Default is continuing on the relevant Early Termination Date, such Gold Trading Transactions (being “Terminated Transactions) and obligations shall be terminated as of such Early Termination Date. We may send you a notice (the “Termination Notice”) to notify you of the Gold Trading Transactions that have been or will be terminated, the relevant Early Termination Date and the relevant Event(s) of Default. Notwithstanding our failure to send you a Termination Notice, the termination of the relevant Gold Trading Transactions shall be effective. (c) All outstanding monies which would otherwise be payable had such Terminated Transactions not been terminated shall forthwith be promptly returned to you or us (as the case may be) and you shall have no claim or right of action against us in any respect whatsoever and we shall cease to have any obligation to you hereunder. (d) For the avoidance of doubt, we shall not be liable to you for any Losses arising from the termination of any Gold Trading Transaction pursuant to this Clause 4.7. (e) The provisions set out in this Clause 4.7 are in addition to, and shall not prejudice any other rights we may have under this Agreement and/or any Applicable Agreement.

Additional Events of Default. (a) In addition to Clause 25 of the Account Terms, each of the following shall also constitute an Event of Default for the purposes of any Gold Trading Transaction: (i) in the case of a Purchase Confirmation, any default under a Corresponding Purchase Transaction and, after giving any applicable notice, requirement or grace period, such default results in a liquidation of, an acceleration of obligations under, or an early termination of, that Corresponding Purchase Transaction; (ii) in the case of a Sale Confirmation, any default under a Corresponding Sale Transaction and, after giving any applicable notice, requirement or grace period, such default results in a liquidation of, an acceleration of obligations under, or an early termination of, that Corresponding Sale Transaction; or (iii) the termination of the Gold Custody Services. (b) At any time after the occurrence of an Event of Default, we may, without notice to you, declare all or any outstanding Gold Trading Transactions, and the obligations of the parties under such Gold Trading Transactions, to be terminated as of such date as we may determine in our absolute discretion (the “Early Termination Date”), and regardless of whether the relevant Event of Default is continuing on the relevant Early Termination Date, such Gold Trading Transactions (being “Terminated Transactions) and obligations shall be terminated as of such Early Termination Date. We may send you a notice (the “Termination Notice”) to notify you of the Gold Trading Transactions that have been or will be terminated, the relevant Early Termination Date and the relevant Event(s) of Default. Notwithstanding our failure to send you a Termination Notice, the termination of the relevant Gold Trading Transactions shall be effective.. DBS Bank Ltd 73 Co. Reg. No. 196800306E (c) All outstanding monies which would otherwise be payable had such Terminated Transactions not been terminated shall forthwith be promptly returned to you or us (as the case may be) and you shall have no claim or right of action against us in any respect whatsoever and we shall cease to have any obligation to you hereunder. (d) For the avoidance of doubt, we shall not be liable to you for any Losses arising from the termination of any Gold Trading Transaction pursuant to this Clause 4.7. (e) The provisions set out in this Clause 4.7 are in addition to, and shall not prejudice any other rights we may have under this Agreement and/or any Applicable Agreement.

Additional Events of Default. (a) In addition to Clause 25 of the Account Terms, each of the following shall also constitute an Event of Default for the purposes of any Gold Trading Transaction: (i) in the case of a Purchase ConfirmationConfirmation, any default under a Corresponding Purchase Transaction and, after giving any applicable notice, requirement or grace period, such default results in a liquidation of, an acceleration of obligations under, or an early termination of, that Corresponding Purchase Transaction; (ii) in the case of a Sale ConfirmationConfirmation, any default under a Corresponding Sale Transaction and, after giving any applicable notice, requirement or grace period, such default results in a liquidation of, an acceleration of obligations under, or an early termination of, that Corresponding Sale Transaction; or (iii) the termination of the Gold Custody Services. (b) At any time after the occurrence of an Event of Default, we may, without notice to you, declare all or any outstanding Gold Trading Transactions, and the obligations of the parties under such Gold Trading Transactions, to be terminated as of such date as we may determine in our absolute discretion (the “Early Termination Date”), and regardless of whether the relevant Event of Default is continuing on the relevant Early Termination Date, such Gold Trading Transactions (being “Terminated Transactions) and obligations shall be terminated as of such Early Termination Date. We may send you a notice (the “Termination Notice”) to notify you of the Gold Trading Transactions that have been or will be terminated, the relevant Early Termination Date and the relevant Event(s) of Default. Notwithstanding our failure to send you a Termination Notice, the termination of the relevant Gold Trading Transactions shall be effective. (c) All outstanding monies which would otherwise be payable had such Terminated Transactions not been terminated shall forthwith be promptly returned to you or us (as the case may be) and you shall have no claim or right of action against us in any respect whatsoever and we shall cease to have any obligation to you hereunder. (d) For the avoidance of doubt, we shall not be liable to you for any Losses arising from the termination of any Gold Trading Transaction pursuant to this Clause 4.7. (e) The provisions set out in this Clause 4.7 are in addition to, and shall not prejudice any other rights we may have under this Agreement and/or any Applicable Agreement.

Additional Events of Default. (a) In addition to Clause 25 of the Account Termsthese Terms and Conditions, each of the following shall also constitute an Event of Default for the purposes of any Gold Trading Transaction: (i) in the case of a Purchase Confirmation, any default under a Corresponding Purchase Transaction and, after giving any applicable notice, requirement or grace period, such default results in a liquidation of, an acceleration of obligations under, or an early termination of, that Corresponding Purchase Transaction; (ii) in the case of a Sale Confirmation, any default under a Corresponding Sale Transaction and, after giving any applicable notice, requirement or grace period, such default results in a liquidation of, an acceleration of obligations under, or an early termination of, that Corresponding Sale Transaction; or (iii) the termination of the Gold Custody Services. (b) At any time after the occurrence of an Event of Default, we may, without notice to you, declare all or any outstanding Gold Trading Transactions, and the obligations of the parties under such Gold Trading Transactions, to be terminated as of such date as we may determine in our absolute discretion (the “Early Termination Date”), and regardless of whether the relevant Event of Default is continuing on the relevant Early Termination Date, such Gold Trading Transactions (being “Terminated Transactions”) and obligations shall be terminated as of such Early Termination Date. We may send you a notice (the “Termination Notice”) to notify you of the Gold Trading Transactions that have been or will be terminated, the relevant Early Termination Date and the relevant Event(s) of Default. Notwithstanding our failure to send you a Termination Notice, the termination of the relevant Gold Trading Transactions shall be effective. (c) All outstanding monies which would otherwise be payable had such Terminated Transactions not been terminated shall forthwith be promptly returned to you or us (as the case may be) and you shall have no claim or right of action against us in any respect whatsoever and we shall cease to have any obligation to you hereunder. (d) For the avoidance of doubt, we shall not be liable to you for any Losses arising from the termination of any Gold Trading Transaction pursuant to this Clause 4.7clause F3.7. (e) The provisions set out in this Clause 4.7 clause F3.7 are in addition to, and shall not prejudice any other rights we may have under this Agreement these Terms and Conditions and/or any Applicable Agreement.