GLOSSARY
In this Prospectus, each of the following terms has its respective meaning set forth below:
“Allocated Account” – The account designated as the Goldman Sachs Physical Gold ETF Allocated Gold Account (No. 48041), as
maintained for the Trust by the Custodian on an allocated basis pursuant to the Allocated Account Agreement for the purpose of holding gold on behalf of the Trust.
“Allocated Account Agreement” – The Allocated Gold Account Agreement dated December 11, 2020, by and among the Custodian,
the Sponsor and the Trustee, as it may be further amended or supplemented from time to time, pursuant to which the Allocated Account is established and operated.
“AP Account” – A loco London account maintained on an Unallocated Basis by the Custodian or another LPMCL clearing bank for the
Authorized Participant, as specified in the applicable instructions given under the Custody Agreement.
“Authorized Participant”
– A person that, at the time of submitting a Purchase Order or Redemption Order, (i) is a registered broker- dealer or other securities market participant, such as a bank or other financial institution, which, but for an exclusion from
registration as a broker-dealer under the Exchange Act, would be required to register as a broker-dealer to engage in securities transactions, (ii) is a DTC Participant, (iii) is approved by the Sponsor (in its absolute discretion) and has
in effect a valid Authorized Participant Agreement with the Sponsor and the Trustee, and (iv) has established an AP Account.
“Authorized Participant Agreement” – A written agreement among the Trustee, the Sponsor and an Authorized Participant in
relation to the Shares and, if such agreement is subject to conditions precedent, provided that such conditions have been satisfied.
“Bankruptcy or Insolvency Event” means of any of the following: (i) the admission by the Custodian, Trustee or Sponsor of its
inability to pay its debts when and as they become due; (ii) the execution by the Custodian, Trustee or Sponsor of a general assignment for the benefit of creditors; (iii) the filing by or against the Custodian, Trustee or Sponsor of a
petition in bankruptcy or any petition for relief under any bankruptcy, insolvency, or debtor’s relief law, or the continuation of such petition without dismissal for a period of sixty (60) days or more, or, in the case of any involuntary
filing of a petition against the Custodian, Trustee or Sponsor; (iv) the appointment of a receiver or trustee to take possession of the property or assets of the Custodian, Trustee or Sponsor; or (v) any action to liquidate, dissolve,
transfer, or wind up the business of the Custodian, Trustee or Sponsor, in furtherance of the foregoing.
“Basket” – At
least 25,000 Shares, except that the Sponsor, upon prior written notice to the Trustee, may from time to time increase or decrease the number of Shares comprising a Basket.
“Basket Gold Amount” – The amount of gold that must be deposited for issuance of one Basket or that is deliverable on surrender
of one Basket.
“BNYM” – The Bank of New York Mellon, a banking corporation organized under the laws of the State of New
York with trust powers, or its successor, which serves as the Trustee of the Trust.
“Book Entry System” – The commercial
book-entry system operated by the Federal Reserve Bank.
“Business Day” or “business day” – Any day other than a
day: (1) when the Exchange or other securities market is closed for regular trading; or (2), if the order or other transaction requires the receipt or delivery, or the confirmation of receipt or delivery, of gold in the United Kingdom or in
some other jurisdiction on a particular day, (A) when banks are authorized to close in the United Kingdom or in such other jurisdiction or when the
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