Refusal to Execute Clause Samples

Refusal to Execute. The Custodian will, where practicable, refuse to execute instructions if in the Custodian’s opinion they are or may be contrary to the Rules or any applicable law.

Refusal to Execute. We reserve the right to refuse to execute instructions if (i) in our commercially reasonable opinion they are or may be contrary to the Rules or applicable law or (ii), with respect to instructions relating to the full withdrawal of the aggregate balance of Bullion standing to your credit in your Allocated Account and your Unallocated Account, a negative balance is outstanding on your Unallocated Account. Any such refusal or inaction will be promptly notified to you.

Refusal to Execute. We have the right, but not the obligation, to refuse in our discretion to execute an order if: (a) the order is incorrect, incomplete, unclear or inaccurate; (b) a condition for the execution of the order has not been satisfied; (c) the balance of Cash or Precious Metal in your Account is insufficient to execute the order; or (d) in our opinion, there are reasons to assume that the execution of the order would violate any applicable regulations or these Terms. We will promptly notify you by e-mail of our refusal to execute an order after the order would have been executed and to notify you about the grounds for refusal as well as about the procedure for the correction of any inaccuracies that have led to the refusal, unless such notification(s) are forbidden by reason of applicable laws and regulations. We are not responsible or liable for any loss or damage arising from exercise of our rights under this clause.

Refusal to Execute. The Custodian may refuse to execute instructions if in its reasonable opinion they are or may be, or require action which is or may be, contrary to the Rules or any applicable law. The Custodian shall promptly provide the Trust and the Administrator with the reasons for not being able to execute the instructions unless prohibited from doing so by the Rules or applicable law.

Refusal to Execute. We reserve the right to refuse to execute instructions if (i) in our commercially reasonable opinion they are or may be contrary to the Rules or applicable law or (ii), with respect to instructions relating to the full withdrawal of the aggregate balance of Bullion standing to your credit in your Allocated Account and your Unallocated Account, a negative balance is outstanding on your Unallocated Account. In the case of being contrary to the Rules, we shall promptly provide you with the reasons for not being able to execute the instructions. Additionally, we shall in no circumstances have any obligation to act upon any instruction which in our commercially reasonable opinion would result in a negative balance on your Allocated Account. Any such refusal or inaction will be promptly notified to you.

Refusal to Execute. We reserve the right to refuse to execute instructions if (i) in our commercially reasonable opinion they are or may be contrary to the Rules or applicable law or (ii) with respect to instructions relating to the full withdrawal of the aggregate balance of Bullion standing to a Fund’s credit in the Fund’s Allocated Account and the Fund’s Unallocated Account, a negative balance is outstanding on the Fund’s Unallocated Account. Additionally, we shall in no circumstances have any obligation to act upon any instruction which in our commercially reasonable opinion would result in a negative balance on a Fund’s Allocated Account. Any such refusal or inaction will be promptly notified to the Trust.

Refusal to Execute. Custodian will have the right to refuse to execute any instructions which Custodian in good faith believes to be contrary to any laws, rules, regulations, practices or customs by which Custodian is bound.

Refusal to Execute. The Custodian reserves the right to refuse to execute instructions if in the Custodian’s reasonable opinion they are or may be, or require action which is or may be, contrary to the Rules or any applicable law. The Custodian shall in no circumstances have any obligation to act upon any instruction which in its opinion would result in a negative balance in any Allocated Account.

Refusal to Execute. We reserve the right to refuse to execute instructions, including instructions related to the transfer of Bullion to your Unallocated Account, if in our commercially reasonable opinion they are or may be contrary to the Rules or any applicable law. Any such refusal will be promptly notified to you.