AMENDMENT NO. 8
dated as of February 6, 2020
of SPDR® GOLD TRUST
dated as of November 12, 2004
This Amendment (this Amendment), dated as of February 6, 2020, is to the Trust Indenture (the Trust Indenture) of the SPDR® GOLD TRUST (the Trust), dated as of November 12, 2004, and as amended from time to time, between World Gold Trust Services, LLC, as the sponsor of the Trust (the Sponsor), and The Bank of New York Mellon, as the trustee of the Trust (the Trustee).
WHEREAS, the London Bullion Market Association (the LBMA) published updated good delivery rules in December 2019 entitled Good Delivery List Rules;
WHEREAS, the Sponsor and the Trustee propose to amend the Trust Indenture to update the definitions to reflect the most recent good delivery rules published by the LBMA and provide flexibility for any future changes to such rules;
WHEREAS, Section 10.01 of the Trust Indenture provides, in pertinent part, that the Sponsor and the Trustee may amend the Trust Indenture to cure any ambiguity or to correct or supplement any provision hereof which may be defective or inconsistent or to make such other provisions in regard to matters or questions arising hereunder as will not materially adversely affect the interests of Beneficial Owners as determined in good faith by the Sponsor; and
WHEREAS, all conditions and requirements necessary to make this Amendment a valid instrument that is legally binding on the parties hereto and on the Beneficial Owners have been satisfied.
NOW, THEREFORE, the Sponsor and the Trustee agree as follows:
1. The following definitions set forth in Article I of the Trust Indenture are hereby amended in their entirety as follows:
Fine Ounce means the measure of fine gold content, calculated by multiplying the gross weight in Ounces by the fineness, expressed in terms of the fine metal content in parts per 1000, in accordance with the standards and specifications set forth in the good delivery rules promulgated by the LBMA from time to time.
London Good Delivery has the meanings assigned thereto in the good delivery rules, including with respect to the standards and specifications for gold bullion, promulgated by the LBMA from time to time, or the equivalent rules of such other gold market where the Sponsor may direct the Trustee in accordance with Section 3.02(b) to arrange through a Custody Agreement for safekeeping of Gold and services in connection with its deposit and delivery, provided that any gold bullion permitted to be delivered to a Trust Allocated Account in such market shall meet the definition of Gold under this Agreement.