GOLD TOKEN TERMS OF SALE AND SERVICE

Last updated 9 September 2025

IMPORTANT: These Gold Token Terms of Sale and Service govern the Gold Tokens, Gold Token Wallets and the Site Services (each as defined below). By purchasing Gold Tokens (whether through the Site or otherwise), transferring Gold Tokens, obtaining a Gold Token Wallet or accessing or using any of the Site Services, you acknowledge that you have read, understand, and completely agree to be bound by these Terms and agree that any purchaser or other transferee of the Gold Tokens shall be subject to these Terms. If you do not agree to these Terms, as amended or modified by any subsequent amendment, change or update: (a) do not purchase Gold Tokens (whether though the Site or otherwise), (b) sell or transfer any Gold Tokens you already hold, and (c) do not access the Site, access or use a Gold Token Wallet or use any of the Site Services. These Terms may be amended, changed, or updated by TETHER GOLD at any time and without prior notice to you.

Only Persons (as defined below) who meet the requirements of these Terms are permitted to access the Site or use the Site Services or hold Gold Tokens. Any Person who is not eligible that utilizes the Site Services or who accesses the Site or otherwise holds Gold Tokens will be in breach of these Terms and may have any Fiat, Digital Tokens (each as defined below), funds, proceeds or other property, confiscated.

These Terms apply to users of tethergold.site (all pages at such addresses are sometimes referred to as the “Site”). You should read these Terms carefully to determine which provisions apply to you. These Terms will continue to apply to you in respect of all Site Services. By purchasing a Gold Token through the Site, transferring Gold Tokens into a Gold Token Wallet, looking up the Gold Reserves (as defined below) that are associated with a particular Digital Tokens Address (“Look-Up Services”) or seeking to redeem any of the Gold Tokens through the Site (collectively or individually, the “Site Services”), the user (referred to herein as the “user”, “you” or “your”) agrees to these Terms and that any purchaser or other transferee of the Gold Tokens of the user shall be subject to these Terms. By purchasing a Gold Token in any way other than through the Site, the purchaser (also referred to herein as the “user”, “you” or “your”) also agrees to these Terms and that any purchaser or other transferee of the Gold Tokens of the user shall be subject to these Terms.

These Terms, together with the Incorporated Materials (as defined below), constitute the entire agreement and understanding with respect to: (a) your holdings of Gold Tokens, (b) the access or use of any or all of the Site Services, and (c) any access or use of the Site, between you and TETHER GOLD or any successor provider of the Site Services (together with any successors or assigns, “TETHER GOLD”).

Each of you and TETHER GOLD are a “Party” and, collectively, the “Parties”.

The following documents are incorporated into these Terms by reference: the Gold Token Risk Disclosure Statement; the Anti-Spam Policy; the Law Enforcement Requests Policy; and the Gold Token Fee Schedule (the “Incorporated Materials”). Also, these Terms should be read in conjunction with the Privacy Statement and the Cookies Policy. In particular, please note that all transactions involving the Gold Tokens may be subject to fees levied by TETHER GOLD as set out and updated in the Gold Token Fee Schedule from time to time or as otherwise agreed between you and TETHER GOLD. In the event of any inconsistency between these Terms, the Incorporated Materials and any other pages, policies, terms, conditions, licences, limitations, or obligations contained within or on the Site, these Terms shall prevail.

PLEASE REVIEW THE ARBITRATION PROVISION SET FORTH BELOW CAREFULLY, AS IT WILL REQUIRE ALL PERSONS TO RESOLVE DISPUTES ON AN INDIVIDUAL BASIS THROUGH FINAL AND BINDING ARBITRATION AND TO WAIVE ANY RIGHT TO PROCEED AS A REPRESENTATIVE OR CLASS MEMBER IN ANY CLASS OR REPRESENTATIVE PROCEEDING. BY UTILISING THE SITE SERVICES OR HOLDING GOLD TOKENS, YOU EXPRESSLY ACKNOWLEDGE THAT YOU HAVE READ AND UNDERSTAND ALL THESE TERMS AND HAVE TAKEN TIME TO CONSIDER THE CONSEQUENCES OF THIS IMPORTANT DECISION.

The Gold Tokens and Site Services are not appropriate for Persons who do not possess the appropriate level of knowledge and experience to deal in them. TETHER GOLD is under no obligation to assess the suitability of the Gold Tokens or Site Services for users and any comment or statement which may be made by TETHER GOLD or any Associate as to the suitability of the Site Services to you should under no circumstances be considered as investment or legal advice and should not be received or relied upon as such. For further information on the risks of holding Gold Tokens and utilising the Site Services, you can review the Gold Token Risk Disclosure Statement here.

The access or use of the Site and any of the Site Services is void where such access or use is prohibited by, would constitute a violation of, or would be subject to penalties under applicable Laws, and shall not be the basis for the assertion or recognition of any interest, right, remedy, power, or privilege.

• 1. Interpretation
  1. Definitions: In these Terms and all documents incorporated herein by reference, the following words have the following meanings unless otherwise indicated:
     1. “Affiliate” means, in relation to a Person, a direct or indirect subsidiary of that Person, a holding company of that Person, and any other subsidiary of that holding company;
     2. “AML” means anti-money laundering, including, all Laws applicable to the Parties prohibiting money laundering or any acts or attempted acts to conceal or disguise the identity or origin of; change the form of; or move, transfer, or transport, illicit proceeds, property, funds, Fiat, or Digital Tokens, including the promotion of any unlawful activity such as fraud, tax evasion, embezzlement, insider trading, financial crime, bribery, cyber theft or hack, narcotics trafficking, weapons proliferation, terrorism, or Economic Sanctions violations, which may also require internal controls to detect, prevent, report, and maintain records of suspected money laundering or terrorist financing;
     3. “Anti-Corruption” means all Laws applicable to each Party prohibiting corruption or bribery of Government Officials, kickbacks, inducements, and other related forms of commercial corruption or bribery;
     4. “Associates” means each and every one of TETHER GOLD’s Affiliates and each of its and its Affiliates’ shareholders, directors, officers, Affiliates, employees, contractors, agents, partners, insurers, and attorneys;
     5. “Canadian Person means:”
        1. a resident of any province or territory of Canada;
        2. any Person established or organised in or under the Laws of Canada or any province or territory of Canada;
        3. any estate of a decedent who was a resident of any province or territory of Canada; or
        4. any Person established or organised outside Canada or any province or territory of Canada, in which any of the Persons described in paragraphs 1.1.5.1 to 1.1.5.3 (and in the case of Person(s) described in 1.1.5.2., provided that such Person(s) are themselves actively carrying on business in Canada), whether singularly or in the aggregate, directly or indirectly (i) holds a 50 percent or greater equity interest by votes or value, (ii) holds a majority of seats or memberships on the board of directors of the entity, or (iii) authorises, establishes, directs, or otherwise controls the actions, policies, personnel decisions, or day-to-day operations of the Person.
     6. “Controlling Person” means any Person who owns more than a 25 percent interest in any Person or Affiliate of that Person;
     7. “Copyrights” has the meaning set out in paragraph 11.2 of these Terms;
     8. “CRS” means the common reporting standard or the Standard for Automatic Exchange of Financial Account Information;
     9. “CTF” means counter-terrorist financing;
     10. “Custodian” means the custodian(s) of the Gold Reserves;
     11. “Digital Tokens” means a digital representation of value that functions as (i) a medium of exchange; (ii) a unit of account; (iii) a store of value, and/or (iv) other similar digital representations of rights or assets, typically including blockchain-based assets or rights including sovereign cryptocurrency or virtual currency such as bitcoins, and Gold Tokens;
     12. “Digital Tokens Address” means an alphanumeric identifier that represents a potential destination for a Digital Tokens transfer, which typically is associated with a user’s Digital Tokens Wallet;
     13. “Digital Tokens Wallet” means a software application (or other mechanism) that provides a means for holding, storing, and transferring Digital Tokens, including a user’s Digital Tokens Address, Digital Tokens balance, and cryptographic keys;
     14. “Economic Sanctions” means financial sanctions, trade embargoes, export or import controls, anti-boycott, and restrictive trade measures enacted, administered, enforced, or penalised by any applicable Laws, including those relating to gold or precious metals;
     15. “Eligible Contract Participant” has the meaning set out in Section 1a(18) of the United States Commodity Exchange Act and Rule 1.3 of the United States Commodity Futures Trading Commission, each as amended;
     16. “FATCA” means the United States Foreign Account Tax Compliance Act, as enacted by Title V, Subtitle A of the Hiring Incentives to Restore Employment Act, P.L 111-147 (2010), as amended;
     17. “FATF” means the Financial Action Task Force;
     18. “FIA” means the Financial Investigation Authority of the British Virgin Islands;
     19. “Fiat” means the money or currency of any country or jurisdiction that is:
         1. designated as legal tender; and,
         2. circulated, customarily used, and accepted as a medium of exchange in the country or jurisdiction of issuance;
     20. “FinCEN” means the Financial Crimes Enforcement Network of the U.S. Department of the Treasury;
     21. “Gold Reserves” means specific gold bullion bars meeting the quality assurance requirements of “London Good Delivery” set by the LBMA and held by the Custodian in a custodial vault, identifiable by a unique serial number, weight and purity for which TETHER GOLD is the representative of the Gold Token holders;
     22. “Gold Token Wallet” means a Digital Tokens Wallet that provides a means for depositing Gold Tokens for redemption;
     23. “Gold Tokens” means the Digital Tokens available for sale at the Site from time to time and further described in these Terms and with the symbol ‘XAUt’;
     24. “Government” means any national, federal, state, municipal, local, or foreign branch of government, including any department, agency, subdivision, bureau, commission, court, tribunal, arbitral body, or other governmental, government appointed, or quasi-governmental authority or component exercising executive, legislative, juridical, regulatory, or administrative powers, authority, or functions of or pertaining to a government instrumentality, including any parasternal company, or state-owned (majority or greater) or controlled business enterprise;
     25. “Government Approval” means any authorisation, licence, permit, consent, approval, franchise, concession, lease, ruling, certification, exemption, exception, filing or waiver by or with any Government necessary to conduct the business of either Party or the execution, delivery and performance of any of the Site Services or any transaction entered into under these Terms;
     26. “Government Official” means an officer or employee of any Government, a director, officer, or employee of any instrumentality of any Government, a candidate for public office, a political party or political party official, an officer or employee of a public international organisation, and any Person who is acting in an official capacity for any of the foregoing, even if such Person is acting in that capacity temporarily and without compensation;
     27. “Laws” means all laws, statutes, orders, regulations, rules, treaties, and/or official obligations or requirements enacted, promulgated, issued, ratified, enforced, or administered by any Government that apply to you or the Site;
     28. “LBMA” means the London Bullion Market Association;
     29. “Losses” means, collectively, any claim, application, loss, injury, delay, accident, cost, business interruption costs, or any other expenses (including attorneys’ fees or the costs of any claim or suit), including any incidental, direct, indirect, general, special, punitive, exemplary, or consequential damages, loss of goodwill or business profits, work stoppage, data loss, computer failure or malfunction, or any and all other commercial losses;
     30. “Marks” has the meaning set out in paragraph 11.1 of these Terms;
     31. “OFAC” means Office of Foreign Assets Control of the U.S. Department of the Treasury;
     32. “Person” includes an individual, association, partnership, corporation, company, other body corporate, trust, estate, and any form of organisation, group, or entity (whether or not having separate legal personality);
     33. “Personal Information” has the meaning set out in the Privacy Statement;
     34. “Prohibited Counterparty” means any U.S. Person (except for Eligible Contract Participants agreed by TETHER GOLD, in its sole discretion) or any Prohibited Person;
     35. “Prohibited Jurisdiction” means Cuba, the Democratic People’s Republic of Korea (North Korea), Iran, Syria, Crimea (a region of Ukraine annexed by the Russian Federation); the self-proclaimed Donetsk People’s Republic (a region of Ukraine); the self-proclaimed Luhansk People’s Republic (a region of Ukraine), Kherson (a region of Ukraine) and Zaporizhzhia (a region of Ukraine);
     36. “Prohibited Person” means any Canadian Person; any Singaporean Person, the Government of Venezuela; any resident of, or Government or Government Official of, or any person in any Prohibited Jurisdiction and any Sanctioned Person;
     37. “Prohibited Use” has the meaning set out in paragraph 9 of these Terms;
     38. “Sanctions List” means the “Specially Designated Nationals and Blocked Persons” (“SDN”) List and the Non-SDN List, including the “Sectoral Sanctions Identifications List”, published by OFAC; the Section 311 Special Measures for Jurisdictions, Financial Institutions, or International Transactions of Primary Money Laundering Concern published by FinCEN; or under Economic Sanctions, AML, or CTF Laws of or by Governments of the United States, the Republic of El Salvador, the British Virgin Islands (including any sanctioned, restricted, or debarred party list under the Laws of the United Kingdom and applicable in the British Virgin Islands), the United Nations, or any other jurisdiction or Government, as applicable to you or to TETHER GOLD or the Site Services, as amended, supplemented, or substituted from time to time;
     39. “Sanctioned Person” refers to any Person or Digital Tokens Address that is: (i) specifically listed in any Sanctions List; (ii) directly or indirectly owned 50 per cent or more by any Person or group of Persons in the aggregate, or a Digital Tokens Wallet associated with such Person or Persons, referred to in any Sanctions List, or Government or Government Official of any Prohibited Jurisdiction; or (iii) subject to any Government Approval or otherwise sanctioned, restricted, or penalised under applicable Economic Sanctions, AML, or CTF Laws;
     40. “Singaporean Person” means:
         1. a resident of Singapore;
         2. any Person established or organised in or under the Laws of Singapore;
         3. any estate of a decedent who was a resident of Singapore;
         4. any fund established or organised outside of Singapore where the Persons that principally provide trading instructions or make investment decisions for the fund do so from Singapore; or
         5. any Person established or organised outside Singapore, in which any of the foregoing, whether singularly or in the aggregate, directly or indirectly (i) holds a 50 per cent or greater equity interest by votes or value, (ii) holds a majority of seats or memberships on the board of directors of the entity, or (iii) authorises, establishes, directs, or otherwise controls the actions, policies, personnel decisions, or day-to-day operations of the Person;
     41. “Tax Information Exchange Laws” means Laws relating to the exchange of information relating to taxes between Governments, including FATCA and CRS;
     42. “Terms” means these terms and conditions of sale and service, as they may be changed, amended, or updated from time to time, including, the following Site policies and pages: the Gold Token Risk Disclosure Statement; the Anti-Spam Policy; the Law Enforcement Requests Policy; and the Gold Token Fee Schedule;
     43. “Territory or Insular Possession of the United States” means the Commonwealth of Puerto Rico; the U.S. Virgin Islands; Guam; the Commonwealth of the Northern Mariana Islands; and all other territories and possessions of the United States, other than the Indian lands (as that term is defined in the Indian Gaming Regulatory Act);
     44. “United States” or “U.S.” means the several states of the United States and the District of Columbia;
     45. “U.S. Account” means any account that is held by one or more U.S. Persons or non-U.S. entities that have one or more Controlling Persons who is a U.S. Person;
     46. “U.S. Citizen or U.S. Resident” includes any U.S. citizen, U.S. lawful permanent resident, individual who meets the “substantial presence” test described in section 7701(b)(3) of the U.S. Internal Revenue Code of 1986 (as amended), protected individual under section 1324b(a)(3) of the U.S. Immigration and Nationality Act, or individual who holds a passport issued by the United States Government;
     47. “U.S. Financial Institution” means any U.S. Person and any of its affiliates, branches, offices, or agents incorporated, organized, or located in the United States or Territory or Insular Possession of the United States that is engaged in the business of: (i) accepting deposits, (ii) making, granting, transferring, holding, or brokering remittances, loans, or credits, or (iii) purchasing or selling foreign exchange, securities, commodity futures or options, or procuring purchases and sellers thereof, whether as principal or agent, and this term applies to affiliates, branches, offices, and agencies of any foreign financial institution that are located in the United States or Territory or Insular Possession of the United States, but not such foreign financial institution’s affiliates, branches, offices, or agencies located outside the United States and Territory or Insular Possession of the United States;
     48. “U.S. Person” means:
         1. a U.S. Citizen or U.S. Resident;
         2. a corporation, partnership, or other entity established or organised in or under the Laws of the United States;
         3. any estate: (i) of a decedent who was a U.S. Citizen or U.S. Resident at the time of death; (ii) of which any executor or administrator is a U.S. Person (unless this executor or administrator is a professional fiduciary and shares with a non-U.S. Person investment discretion with respect to the assets of an estate that is governed by non-U.S. law); (iii) which is administered under the laws of the United States; and (iv) with assets located in the United States;
         4. any trust if (i) a court within the United States is able to exercise primary supervision over the administration of the trust, and (ii) one or more U.S. Persons have the authority to control all substantial decisions of the trust;
         5. any Person organised or incorporated outside the United States and the Territory or Insular Possession of the United States in which any of the foregoing, whether singularly or in the aggregate, directly or indirectly (i) holds a 50 percent or greater equity interest by votes or value, (ii) holds a majority of seats or memberships on the board of directors of the entity, or (iii) authorises, establishes, directs, or otherwise controls the actions, policies, personnel decisions, or day-to-day operations of the Person; or
         6. any pension plan for the employees, officers or principals of a legal entity described in paragraph 1.1.48.2, unless the pension plan is primarily for foreign employees of such entity.
     49. “User Insolvency Event means if you are subject to any of the following insolvency events: (i) you stop or suspend payment of any of your debts or are unable to, or admit your inability to, pay your debts as they fall due; (ii) you commence negotiations, or enter into any composition, compromise, assignment or arrangement, with one or more of your creditors with a view to rescheduling any of your indebtedness (because of actual or anticipated financial difficulties); (iii) a moratorium is declared in respect of any of your indebtedness; (iv) any action, proceedings, procedure or step is taken in relation to: (a) a composition, compromise, assignment or arrangement with any of your creditors; or (b) the appointment of a liquidator, receiver, administrative receiver, administrator, compulsory manager or other similar officer in respect of you or any of your assets; (v) the value of your assets is less than your liabilities (taking into account contingent and prospective liabilities); or (vi) any event occurs in relation to you that is analogous to those set out in paragraphs (i) to (v) (inclusive) above in any jurisdiction;
     50. “User Wallet means any Digital Tokens Wallet utilised by a user to transact in or hold Gold Tokens, including a Gold Token Wallet;
     51. “Virus” means any harmful or surreptitious code with a purpose to, effect of or that could be reasonably be expected to: (i) cause any unplanned interruption of the operation of a website (such as the Site), software or computer system, (ii) unauthorised use of a website (such as the Site), software or computer system, (iii) altering, destroying, or inhibiting the use of a website (such as the Site), software or computer system; or (iv) block access to, or prevent the use or accessibility of a website (such as the Site), software or computer system. Viruses include malware, trojan horses, system monitors/keyloggers, dialers, adware, and adware cookies lockup, time bomb, key lock device program, or disabling code; and
     52. “you” or “your” means the user.
  2. Headings: The headings and sub-headings in these Terms are for ease of reference only and are not to be taken into account in the construction or interpretation of any provision or provisions to which they refer.
  3. Extended Meanings: Unless otherwise specified in these Terms, words importing the singular include the plural and vice versa and words importing gender include all genders. The word “include,” “includes” or “including” will be interpreted on an inclusive basis and be deemed to be followed by the words “without limitation.”
  4. Governing Law: These Terms shall be governed by and construed and enforced in accordance with the Laws of the British Virgin Islands, and shall be interpreted in all respects as a British Virgin Islands contract. Any dispute, controversy, claim or action arising from or related to your access or use of the Site or the Site Services or these Terms likewise shall be governed by the Laws of the British Virgin Islands, exclusive of choice-of-law principles. For clarity, the acquisition and loss of rights in rem to the physical gold shall also be governed by the Laws of the British Virgin Islands.

2. Right to Use the Site Services: TETHER GOLD grants you the limited right to use the Site Services other than the Look-Up Services if you (a) have a Gold Token Wallet, (b) are not a Prohibited Counterparty, (c) do not operate your User Wallet for the benefit of a Prohibited Counterparty, and (d) consent to and comply with these Terms, TETHER GOLD grants you the limited right to use the Look-Up Services if you (a) have a User Wallet, (b) are not a Prohibited Person, (c) do not operate your User Wallet for the benefit of a Prohibited Person, and (d) consent to and comply with these Terms. The right to use any Site Services is a personal, restricted, non-exclusive, non-transferable, non-sublicensable, revocable, limited licence, and it is subject to the limitations and obligations in these Terms. Nothing in these Terms gives you any licence (other than as set out in this paragraph), right, title, or ownership of, in, or to the Site, any of the Site Services, the Copyrights or the Marks. TETHER GOLD may suspend or terminate your access to the Site or any of the Site Services, freeze any Gold Tokens held by you, or terminate your Gold Token Wallet, as required by applicable Law or where TETHER GOLD, in its sole discretion, determines it is prudent to do so or where you have violated, breached, or acted in a manner inconsistent with any provision of these Term or applicable Law.

3. Restrictions on Prohibited Persons and Prohibited Counterparties. Every Prohibited Person is strictly prohibited from directly or indirectly holding Gold Tokens in any way or otherwise transacting on or using the Site Services.

3.1. No User Wallet may be operated for and no order or transaction in Gold Tokens may be for the financial or other benefit of a Prohibited Person.

3.2. No order or transaction in a Gold Token Wallet may be for the financial or other benefit of a Prohibited Counterparty.

3.3. With respect to any Person organised or incorporated outside the United States and the Territory or Insular Possession of the United States, the prohibitions in this paragraph are governed by the terms of paragraph 1.1.48.5 and will be applied at the entity level.

3.4. For the avoidance of doubt, U.S. Persons (except for Eligible Contract Participants agreed by TETHER GOLD, in its sole discretion) are prohibited from directly or indirectly holding, owning or operating a Gold Token Wallet or any Site Services other than Look-Up Services. In addition, where you are not a U.S. Person, but TETHER GOLD knows or has reason to know that you or you make a deposit, withdrawal, or transfer of Fiat or Digital Tokens to, from, or through any U.S. Financial Institution to facilitate the provision of the Site Services, then you may be regarded as a customer of TETHER GOLD and/or prohibited from using the Site Services, at the sole discretion of TETHER GOLD.

4. Gold Tokens

4.1. Gold Token Purchase Terms. TETHER GOLD may make Gold Tokens available for purchase from time to time at prices quoted from time to time by TETHER GOLD based upon the market price of gold, including market brokerage fee or dealer mark-up, available to TETHER GOLD. Purchases may be subject to minimum purchase and other requirements and to settlement conditions imposed by TETHER GOLD, whether or not set forth on the Site at the time of purchase. In addition, all sales are subject to these Terms. Transfers to or from a Gold Token Wallet require prior consent from TETHER GOLD. In order to facilitate transactions, TETHER GOLD or any of its Affiliates may purchase and resell Gold Tokens for its own account. Any Gold Tokens owned by TETHER GOLD or any of its Affiliates and resold through the Site will be sold at the then current market rates available to TETHER GOLD.

4.2. Issuance and Usage of Gold Tokens. TETHER GOLD issues, sells, and redeems Gold Tokens in reliance on custodial services provided by one or more Custodians and services provided by other representatives of TETHER GOLD. Gold Tokens may be used, kept, or exchanged online wherever parties are willing to accept Gold Tokens, or redeemed for associated specific interests in the Gold Reserves, all subject to the limitations in these Terms. TETHER GOLD makes no representations or warranties that it will continue to sell new Gold Tokens on comparable terms or on any terms in the future. Gold Tokens may be issued by TETHER GOLD on multiple blockchains in its sole discretion, and Gold Tokens trading on one blockchain may not be readily exchangeable for Gold Tokens trading on a different blockchain.

4.3. Gold Ownership and Delivery. Each Gold Token reflects ownership of an undivided specific interest in one fine troy ounce of gold in the Gold Reserves. Gold delivered upon the purchase of one Gold Token will consist of one fine troy ounce held by the Custodian on behalf of the Gold Token holders as Gold Reserves. Delivery to you of the associated specific interest in the Gold Reserves represented by each Gold Token shall be completed upon the purchase or transfer to you of such Gold Token and your acceptance of such delivery. Upon and following such delivery, the Custodian shall hold at its premises the gold on your behalf as, and for so long as you remain the, holder of the Gold Token and the underlying gold represented thereby. The undivided interest in a fine troy ounce on a specific bullion bar in the Gold Reserves owned through a Gold Token may be reallocated by TETHER GOLD on behalf of the Gold Token holders, from time to time and without notice, to a fine troy ounce on a different specific bar of gold in the Gold Reserves. TETHER GOLD may elect to reallocate Gold Reserves on behalf of the Gold Token holders as described above every time that there is an on-chain transaction that transfers Gold Tokens from one on-chain address to another. Each Gold Token holder, by holding a Gold Token, irrevocably consents to any such reallocation. Any reallocation will be automatic and instantaneous so that each Gold Token maintains its undivided specific ownership interest in one fine troy ounce in Gold Reserves, at all times.

4.4. Risk of Gold Reserve Loss. There is a risk that some or all of the Gold Reserves held by any Custodian could be lost, damaged or stolen or that access to some or all of the Gold Reserves could also be restricted. The loss or damage borne from any of these events would be borne by the holders of the Gold Tokens representing ownership in the affected bullion bars and not borne by Gold Token holders with interests in bullion bars that are not lost, damages or stolen.

4.5. Ownership Information. Holders of Gold Tokens will be able to view information regarding undivided specific interests in Gold Reserves at the Site, subject to the Site’s availability and the provision of required information.

4.6. Verification Requirements. In order to purchase Gold Tokens from TETHER GOLD and to have them redeemed through orders submitted through the Site, you must be a verified customer of TETHER GOLD. No exceptions will be made to this provision. The right to purchase Gold Tokens or have Gold Tokens redeemed is a contractual right personal to you. TETHER GOLD may also refuse to sell Gold Tokens to, or redeem Gold Tokens from, a verified customer in the event of any circumstances in violation of these Terms, including, circumstances in which TETHER GOLD believes that the purchase or redemption of Gold Tokens would be contrary to Law or would otherwise expose TETHER GOLD or any of its Associates to legal liability.

4.7. Custodian. While TETHER GOLD has contracted with the Custodian, TETHER GOLD is vaulting the Gold Reserves with the Custodian as representative of the Gold Token holders. The Custodian holds the Gold Reserves on behalf of the Gold Token holders, and each is an intended third-party beneficiary of that contract, and is entitled to bring claims against the Custodian, subject to the limitations on claims and liability set forth in the agreement with the Custodian. Contractual claims will not be asserted against the Custodian by TETHER GOLD on behalf of the Gold Token holders. Accordingly, Gold Token holders would be required to expend their own resources in order to pursue claims against the Custodian or any other person or entity. The Custodian maintains insurance with regard to its business in such amount and on such terms and conditions as it considers appropriate, which is not expected to cover the full amount of Gold Reserves. TETHER GOLD is not a beneficiary of any such insurance and does not have the ability to dictate the existence, nature or amount of coverage maintained by the Custodian.

4.8. Forks. Gold Tokens are or may be issued on various decentralised and open source blockchains and protocols. Blockchains and protocols can sometimes experience events called “forks” where an alternative version of a blockchain or protocol is created. Where forks occur, it is possible that multiple versions of a Digital Token available on such blockchain or protocol could be created, for example, one on each fork. Due to the nature of Gold Tokens, if a fork creates two or more Digital Tokens which purport to be Gold Tokens, it is only possible for one of those Digital Tokens to be a Gold Token. Where a blockchain or protocol on which Gold Tokens are issued is forked, TETHER GOLD may elect to suspend Site Services temporarily or for an extended period of time on little or no notice. As a result, in the event of a fork only the Digital Tokens on the particular blockchain or protocol that TETHER GOLD or its Affiliate announces on the Site as being supported by TETHER GOLD or such Affiliate are Gold Tokens. Any other Digital Tokens resulting from the fork are not Gold Tokens.

4.9. Support for Blockchains and Protocols. TETHER GOLD is under no obligation to support, or to maintain support for, any particular blockchain or protocol, including any particular blockchain or protocol or any Digital Tokens, including as a result of a fork of a blockchain, the identification of a security issue, community support or otherwise. TETHER GOLD may determine, in its sole discretion, whether to support a particular fork of a blockchain or protocol or whether to cease support for all version of a particular blockchain or protocol (whether as a result of a fork, the identification of a security issue, community support or otherwise). Where TETHER GOLD determines to cease support for a particular blockchain or protocol (whether as a result of a fork, the identification of a security issue, community support or otherwise), you must take any and all actions reasonably necessary to effectuate the migration of your Gold Token to a supported blockchain or protocol identified by TETHER GOLD. TETHER GOLD assumes no liability or responsibility whatsoever arising out of or relating to your failure to effectuate such migration of your Gold Token to another blockchain or protocol identified by TETHER GOLD.

4.10. No Liability for Withdrawal of Support. TETHER GOLD assumes no liability or responsibility whatsoever for any Losses or other issues that might arise from TETHER GOLD electing to support or not support a particular blockchain or protocol, any forked version of any particular blockchain or protocol or any Digital Tokens resulting from a fork of a blockchain or protocol.

4.11. Risk of Wrapped or Bridged Tokens. It is also possible that a third-party could create a Digital Token which claims to be an alternative version of Gold Tokens, such as by “wrapping” or “bridging” Gold Tokens. These Digital Tokens are not Gold Tokens. They are not sold or issued through the Site or supported by TETHER GOLD, they cannot be used with the Site and TETHER GOLD assumes no liability or responsibility whatsoever for any Losses or other issues that might arise from use of such Digital Tokens.

5. Purchase and Redemption of Gold Tokens

5.1. Purchase and Redemption Fees and Conditions. Verified customers of TETHER GOLD may purchase Gold Tokens from TETHER GOLD subject to conditions (e.g., minimum purchase amounts) and fees in accordance with the Gold Token Fee Schedule in effect at the time of purchase. Verified customers of TETHER GOLD who own Gold Tokens may redeem such tokens for the physical delivery of the underlying fine troy ounces of gold from the Gold Reserves subject to conditions (e.g., minimum redemption size) and fees in accordance with the Gold Token Fee Schedule in effect at the time of redemption.

5.2. Incurrence of Liability and Passage of Title. The Parties hereby agree that (i) TETHER GOLD has obtained authorisation as a Stablecoin Issuer and Digital Assets Service Provider under the El Salvador Regulations for Issuance of Stablecoin Public Offerings and is subject to the regulatory requirements specified by the National Commission of Digital Assets of El Salvador; (ii) each Party incurs liability irrevocably for: (x) the sale and purchase of Gold Tokens through the Site upon the satisfaction of the conditions to purchase through the Site, and, (y) the redemption of Gold Tokens through the Site upon the satisfaction of the conditions to redeem through the Site in each case, such transactions deemed to be located within the Republic of El Salvador; and (iii) title in the Gold Tokens passes from TETHER GOLD to a verified customer of TETHER GOLD when TETHER GOLD initiates transmission of the Gold Tokens to a User Wallet designated by such customer, such initiation deemed to be from the Republic of El Salvador.

5.3. Redemption Delays Possible. TETHER GOLD will make commercially reasonable efforts to process a verified customer request to redeem Gold Tokens promptly. However, it may take several business days for any redemption to be completed. TETHER GOLD reserves the right to delay the redemption or purchase of Gold Tokens if the delay is necessitated by the illiquidity or unavailability or loss of any Gold Reserves backing the Gold Tokens or as otherwise required by Laws or demanded or lawfully requested by any Government.

5.4. Underlying Gold. Gold Token holders can receive a “London Good Delivery” gold bar when redeeming a number of Gold Tokens equal to the number of fine troy ounces of gold contained in the applicable gold bar. TETHER GOLD may request that you deposit 430 Gold Tokens to your Gold Token Wallet however the actual number of Gold Tokens redeemed will be subject to adjustment for actual size and purity of the bullion bar to be delivered. Gold bars do not generally contain exactly 400 fine troy ounces of gold but generally contain fewer than 430 fine troy ounces. If the gold bar to be delivered in connection with a redemption contains fewer than 430 fine troy ounces, the user seeking to redeem their Gold Tokens for physical delivery of the bullion bar will be required to either, at TETHER GOLD’s election: (a) provide for redemption only the number of Gold Tokens that corresponds to the number of fine troy ounces of gold on the applicable bullion bar; or (b) provide 430 Gold Tokens for redemption, and the remaining Gold Tokens will be returned to a User Wallet designated by the user, as determined by TETHER GOLD in its sole discretion. In the unlikely event the gold bar to be delivered in connection with a redemption contains more than 430 fine troy ounces, the user seeking to redeem their Gold Tokens for the gold bar will be required to either, at TETHER GOLD’s discretion: (a) provide the applicable additional Gold Tokens so that the number of Gold Tokens being redeemed corresponds to the number of fine troy ounces of gold on the applicable bullion bar, or (b) pay an additional amount of Fiat necessary to cover the cost of the excess gold (based on then current market prices for gold in the Swiss gold market).

5.5. Physical Delivery or Sale Option. A user who has effectuated redemption of their Gold Tokens in accordance with paragraph 5.4 can elect to receive physical delivery of their gold bar at a place of their choosing, acting reasonably, in Switzerland (subject to the payment of fees in accordance with the Gold Token Fee Schedule in effect at the time of redemption). Rather than take physical delivery of their bullion bar, a user can request that TETHER GOLD facilitate the sale of their bullion bar in the Swiss gold market. If the user makes this election, TETHER GOLD or its representative will attempt to sell the user’s gold bar to a gold dealer or broker with whom TETHER GOLD or such representative has a relationship. If the bullion bar is successfully sold via a broker dealer, the user will receive the proceeds from that sale, less applicable fees set out in the Gold Token Fee Schedule in effect at the time of redemption, via a wire transfer of Fiat. Any sale transaction is subject to the rates and transaction counterparties available at the time of election. TETHER GOLD and its Affiliates have no obligation to repurchase any Gold Tokens or any bullion bars.

6. Transfer of Gold Tokens; Mechanics. Your Digital Tokens Address and associated User Wallet are controlled by your private key and your Digital Tokens Address and associated User Wallet, including the ability to access Gold Tokens through the Site, may be stolen or lost and otherwise unrecoverable if the private key is compromised or lost. You accept all consequences of sending Gold Tokens off of, or otherwise interacting with, the Site. Gold Token transactions are not reversible. Once you send Gold Tokens to an address, whether intentionally or by a fraudulent or accidental transaction, you accept the risk that you may lose access to, and any claim on, those Gold Tokens indefinitely or permanently. Further, TETHER GOLD does not guarantee the security or functionality of third-party software or technology, which may fail or malfunction. Gold Tokens are not legal tender and are not backed by any Government or protected through any insurance provided by TETHER GOLD or any of its Affiliates. Gold Tokens are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections, or to analogous protections in other jurisdictions

7. Suspension of Services. You acknowledge that TETHER GOLD may delay or suspend your access to the Site or the Site Services (including in respect of redemptions), and through that your ability to interact with the Site or the Site Services at its sole discretion, including in the event that TETHER GOLD determines that you have engaged in a Prohibited Use; when TETHER GOLD suspects that there has been a violation of these Terms; if TETHER GOLD believes that providing any Site Service to you would be contrary to Law; when TETHER GOLD is directed to do so by any Government; if your Gold Token Wallet or other User Wallet is subject to pending litigation, investigation, or Government proceedings; or when TETHER GOLD believes that someone is attempting to gain unauthorised access to your Gold Token Wallet or other account or wallet; or circumstances in which TETHER GOLD believes that providing any Site Service to you would otherwise expose TETHER GOLD or any Associate to legal liability or unacceptable risk.

8. Mandatory Resolution of Disputes Through Arbitration:

8.1. Covered Claims. Except for excluded claims described below in paragraph 8.2, TETHER GOLD and you each agree that any dispute, claim or controversy arising out of or relating to (a) these Terms or the existence, breach, termination, enforcement, interpretation or validity thereof, or (b) your Gold Token Wallet or the operations and services of the Site, (c) your holding of Gold Tokens, or (d) your access to or use of the Site or any Site Services at any time, will be subject to and finally resolved by confidential, binding arbitration on an individual basis and not in a class, representative or consolidated action or proceeding. If you are subject to the Laws of the United States of America, the interpretation and enforceability of this arbitration provision will be governed by the U.S. Federal Arbitration Act, 9 U.S.C. §§ 1 et seq. Arbitration will be conducted through the use of videoconferencing technology (unless both arbitration parties agree that an in-person hearing is appropriate given the nature of the dispute) before a single arbitrator in accordance with the International Institute for Conflict Prevention and Resolution International Non-Administered Arbitration Rules, as amended from time to time (the “CPR Rules”). The sole arbitrator selected by the arbitration parties must be a licenced attorney in England and Wales or the British Virgin Islands with at least fifteen (15) years of experience in commercial disputes. If the arbitration parties do not jointly appoint an arbitrator within thirty (30) days of the commencement of the arbitration, any vacancies will be filled by an arbitrator meeting the above qualifications selected by the International Institute for Conflict Prevent and Resolution. Judgment upon the award rendered by the arbitrator may be entered by any court having jurisdiction thereof. If the arbitral parties do not promptly agree on the seat of arbitration if an in-person hearing is selected, the seat will be London, United Kingdom. The language of the arbitral proceedings will be English. No discovery shall be conducted except by agreement of the parties or after approval by the arbitrator, who shall attempt to minimise the burden of discovery. The arbitrator may award any relief that a court of competent jurisdiction could award, including attorneys’ fees when authorised by Laws, and the arbitral decision may be enforced in court. For claims less than U.S.$15,000, TETHER GOLD will reimburse you for all initiating filing fees. Should you be deemed the losing party, the filing fees reimbursed by TETHER GOLD will be added to the final arbitrator’s costs and fees award. The prevailing party will be entitled to its costs of the arbitration (including the arbitrator’s fees) and its reasonable attorney’s fees and costs.

8.2. Excluded Claims. The following claims and causes of action will be excluded from arbitration as described in paragraph 8.1: causes of action or claims in which either party seeks injunctive or other equitable relief for the alleged unlawful use of its intellectual property, including without limitation copyrights, trademarks, trade names, trade secrets, or patents or its confidential information or private data. Nothing in this paragraph 8 will prevent TETHER GOLD from seeking any other form of injunctive relief in any court of competent jurisdiction, whether or not interim relief has also been sought from the arbitrator.

8.3. Delegation. The arbitrator will have the power to hear and determine challenges to its jurisdiction, including any objections with respect to the formation, existence, scope, enforceability or validity of the arbitration agreement. This authority extends to jurisdictional challenges with respect to both the subject matter of the dispute and the parties to the arbitration. Further, the arbitrator will have the power to determine the existence, validity, or scope of the contract of which an arbitration clause forms a part. For the purposes of challenges to the jurisdiction of the arbitrator, each clause within this paragraph 8 will be considered as separable from any contract of which it forms a part. Any challenges to the jurisdiction of the arbitrator, except challenges based on the award itself, will be made not later than the notice of defence or, with respect to a counterclaim, the reply to the counterclaim; provided, however, that if a claim or counterclaim is later added or amended such a challenge may be made not later than the response to such claim or counterclaim as provided under the CPR Rules.

8.4. Class Action Waiver. You and TETHER GOLD expressly intend and agree that: (a) class action and representative action procedures are hereby waived and will not be asserted, nor will they apply, in any arbitration pursuant to these Terms; (b) neither you nor TETHER GOLD will assert class action or representative action claims against the other in arbitration or otherwise; (c) each of you and TETHER GOLD will only submit their own, individual claims in arbitration and will not seek to represent the interests of any other person, or consolidate claims with any other person; (d) nothing in these Terms will be interpreted as your or TETHER GOLD’s intent to arbitrate claims on a class or representative basis; and (e) any relief awarded to any one user of the Site or the Site Services cannot and may not affect any other user of the Site or the Site Services. No adjudicator may consolidate or join more than one Person’s or party’s claims and may not otherwise preside over any form of a consolidated, representative, or class proceeding.

8.5. Confidentiality. The Parties will maintain the confidential nature of the arbitration proceeding and any award, including the hearing, except as may be necessary to prepare for or conduct the arbitration hearing on the merits, or except as may be necessary in connection with a court application for a preliminary remedy, a judicial challenge to an award or its enforcement, or unless otherwise required by Law or judicial decision.

8.6. JURY TRIAL WAIVER: TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE PARTIES HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING OF ANY KIND WHATSOEVER ARISING OUT OF OR RELATING TO THESE TERMS OR ANY BREACH THEREOF, ANY USE OR ATTEMPTED USE OF THE SITE OR THE SITE SERVICES BY YOU, AND/OR ANY OTHER MATTER INVOLVING THE PARTIES.

9. Prohibited Uses: You may not use the Site Services to engage in the categories of activity set forth below (“Prohibited Uses”). The specific activities set forth below are representative, but not exhaustive, of Prohibited Uses. If you are uncertain as to whether your use of the Site Services involves a Prohibited Uses or have any other questions about how these requirements apply to you, then please contact us by visiting support@tethergold.site. By using the Site Services, you confirm that you will not engage in any of the following Prohibited Uses:

9.1. use the Site or any Site Services in order to disguise the origin, ownership, control or nature of illicit proceeds of, or to further, any breach of applicable Laws, or to transact or deal in any contraband;

9.2. use the Site or any Site Services if any applicable Laws, including AML Laws, CTF Laws, Anti-Corruption Laws, and Economic Sanctions Laws, prohibit, penalise, sanction, or expose TETHER GOLD or any of its Associates to liability for any Site Services furnished or offered to you or your Gold Token Wallet under these Terms;

9.3. use the Site or any of the Site Services, or any financial services of any U.S. Financial Institution in connection with the Site or any of the Site Services, whether or not an Affiliate of TETHER GOLD or any Associate, to facilitate, approve, evade, avoid, violate, attempt to violate, aid or abet the violation of, or circumvent any applicable Laws, including AML Laws, CTF Laws, Anti-Corruption Laws, and Economic Sanctions Laws;

9.4. use the Site or any Site Services to evade taxes under the Laws of any applicable jurisdiction;

9.5. purchase, redeem or transfer Gold Tokens, or otherwise transact on the Site, or use any Site Services with, anything other than Fiat, funds, a Digital Tokens Address, digital wallet, keys, property or Digital Tokens that have been legally obtained by you and that belong to you;

9.6. use the Site or any Site Services to interfere with or subvert the rights or obligations of TETHER GOLD or any Associate, any other user of the Site or any other Person;

9.7 present misleading or inaccurate information to the Site or to TETHER GOLD or any Associate or take advantage of any technical glitch, malfunction, failure, delay, default, or security breach;

9.8. use the Site or any Site Services to engage in conduct that is detrimental to TETHER GOLD, any Associate, any other user of the Site or the Services or any other Person;

9.9. falsify any account, Site registration, exchange or administration details provided to TETHER GOLD or any Associate, impersonate another Person or misrepresent your affiliation with a Person;

9.10 falsify or materially omit any information or provide misleading or inaccurate information requested by TETHER GOLD or any Associate, including at Site registration or during the course of administering any Site Services to you;

9.11. cause injury to, or attempt to harm, TETHER GOLD or any Associate or any Person through your access of the Site or any Site Services;

9.12. promote discrimination based on race, religion, nationality, disability, sexual orientation, gender or gender identity, or age;

9.13. have more than one account and more than one Gold Token Wallet on the Site, or use any Gold Token Wallet on a one-time, ‘throwaway’ basis; any such additional Gold Token Wallet or one time ‘throwaway’ Gold Token Wallet may be terminated or suspended at the absolute discretion of TETHER GOLD;

9.14. where you are subject to prohibitions or restrictions as set forth in paragraph 2, access the Site or use any Site Services utilising any virtual private network, proxy service, or any other third party service, network, or product with the effect of disguising your IP address or location, or access the Site or use any Site Services from, or being subject to, the jurisdiction of any Prohibited Jurisdiction or Government or Government Official thereof;

9.15. utilise a User Wallet, any Site Services or the Site for the financial or other benefit of a Prohibited Person;

9.16. utilise a Gold Token Wallet, any Site Services (other than Look-Up Services) for the financial or other benefit of a Prohibited Counterparty;

9.17. utilise a User Wallet for the financial or other benefit of any Person in any jurisdiction in which any of the Site Services, the Site or the holding of Gold Tokens are unlawful; or

9.18. violate, promote, or cause a violation of, or conspire or attempt to violate these Terms or applicable Laws.

If TETHER GOLD determines or suspects that you have engaged in any Prohibited Use, TETHER GOLD may address such Prohibited Use through an appropriate sanction, in its sole and absolute discretion. Such sanction may include making a report to any Government, law enforcement, or other authorities, without providing any notice to you about any such report; freezing or confiscation of any Fiat, funds, property, proceeds, Gold Tokens or any Digital Tokens in any Gold Token Wallet or other User Wallet; blacklisting any Digital Tokens Address which holds Gold Tokens and/or suspending or terminating your access to the Site and any Site Services or Fiat, funds, property, proceeds, Gold Tokens or any Digital Tokens in any Gold Token Wallet. TETHER GOLD may, at its sole and absolute discretion, seize and deliver your property to any applicable Government, law enforcement, or other authorities where circumstances warrant or in accordance with Laws. In addition, should your actions or inaction result in Loss being suffered by TETHER GOLD or any Associate, you shall pay an amount to TETHER GOLD and each Associate so as to render TETHER GOLD and any Associate whole, including the amount of taxes or penalties that might be imposed on TETHER GOLD or any Associate.

10. Due Diligence Generally, Anti-Money Laundering and Counter-Terrorist Financing and Sharing of Information: TETHER GOLD is committed to providing safe, compliant, and reputable Site Services and to identify, detect, prevent, and report on money laundering, terrorist financing, and other improper activities under applicable AML Laws, CTF Laws, Anti-Corruption Laws, and Economic Sanctions Laws. Accordingly, TETHER GOLD insists on a comprehensive and thorough user due diligence process and ongoing analysis and reporting. By agreeing to these Terms and utilising or seeking to utilise, the Services (other than the Look-Up Services), you shall affirmatively certify that you are not a Prohibited Counterparty, that you are not utilising any User Wallet for the benefit of a Prohibited Person, and must provide promptly all information requested and necessary to satisfy due diligence requirements and obligations pursuant to applicable Laws and the compliance policies or procedures of TETHER GOLD or any of its Affiliates. Additionally, TETHER GOLD or any of its Affiliates may assess whether you are a Prohibited Counterparty, whether your account would be regarded as a U.S. Account or whether you have made, will make, or intend to make, a transfer to, from, or through any Prohibited Jurisdiction or any U.S. Financial Institution, and if applicable, you must provide all information requested and necessary to satisfy due diligence requirements and obligations pursuant to applicable Laws and the compliance policies or procedures of TETHER GOLD. You agree to provide promptly any documentation, information, or records requested by TETHER GOLD at any time, including a self-certification permitting the determination of tax residence and status under Tax Information Exchange Laws. Such information may include self-certifications as to Controlling Persons and beneficial ownership of one or more legal entities. TETHER GOLD expects to retain certain information, documentation, and records on file pursuant to applicable Laws and its contractual relationships, and TETHER GOLD hereby expressly reserves the right to keep such information, documentation, and records. Additionally, TETHER GOLD monitors for and assesses suspicious or sanctionable transactions under applicable AML, CTF, Anti-Corruption, and Economic Sanctions Laws, as well as undertakes mandatory reporting to FinCEN, OFAC, FIA, and international regulators. These undertakings shall apply even when you suspend or terminate your relationship with TETHER GOLD or abandon your application to have a Gold Token Wallet or transfer all Gold Tokens from your User Wallet. Our policies apply to any and all Digital Tokens, Fiat, and other funds or property being exchanged on or through the Site or by any of you, your Affiliates, or TETHER GOLD or any Associate.

Without limitation to the remedies available to TETHER GOLD pursuant to paragraph 17 (No Waiver; Available Remedies), TETHER GOLD reserves the right to bar transactions from or to, to undertake enhanced due diligence, or to suspend or terminate access to the Site or the administration of Site Services, or the creation or administration of any Gold Token Wallet for or with, any user for any reason (or for no reason) at any time, including the provisions of paragraphs 9 and 12, subject to any limitations imposed by applicable Laws. Without limiting the generality of the foregoing, this includes any transfer, transaction, business, or dealing with a: (i) Sanctioned Person; (ii) Prohibited Jurisdiction or a citizen or resident of, Government or Government Official of, or Person in or subject to jurisdiction of, any Prohibited Jurisdiction; (iii) U.S. Person or any Person acting through any U.S. Financial Institution (except for Eligible Contract Participants agreed by TETHER GOLD, in its sole discretion); (iv) Canadian Person; (v) Singaporean Person; (vi) Person from or in any jurisdiction that does not meet international AML–CTF standards (including any jurisdiction identified by the FATF as high-risk, non-cooperative, or strategically deficient jurisdictions, or jurisdictions under increased monitoring); (vii) Person that is or formerly was a Government Official or Politically Exposed Person within the meaning of the FATF’s 40 Recommendations; (viii) Person that presents a risk of any exposure to penalties, sanctions, or other liabilities under AML Laws, CTF Laws, Anti-Corruption Laws, Economic Sanctions Laws, tax Laws or any other Laws, in each case, that may apply to you or to TETHER GOLD or any Associate; (ix) Person that TETHER GOLD determines is acting in the United States or Territory or Insular Possession of the United States in violation of, causing any other Person, including TETHER GOLD or any Associate, to violate, attempting or conspiring to violate, or evading or circumventing these Terms or applicable Laws; and (x) Person that fails to meet any user due diligence standards, requests, or requirements of TETHER GOLD, or otherwise appears to be of high risk, including any of the foregoing factors. In lieu of refusing registration, access or ongoing administration of your Gold Token Wallet or the Site Services, TETHER GOLD may, in its sole discretion, perform enhanced due diligence procedures. At all times, you may be subject to enhanced due diligence procedures in your use of the Site and the Site Services. If you decline to provide requested due diligence information or otherwise do not reply timely or substantively with the documentation or data requested, TETHER GOLD has the absolute discretion to immediately suspend or terminate any of the Site Services to you and your use of the Site.

11. Intellectual Property:

11.1. The trademarks, service marks, and trade names, including both word marks and design marks (the “Mark(s)”) are used by TETHER GOLD under licence. You agree not to appropriate, copy, display, reverse engineer, or use the Marks or other content without express, prior, written permission from TETHER GOLD or the owner of the Marks, including as a domain name, as social media profile/handle, on a website, in an advertisement or other marketing, as or in connection with a phone number, as or in connection with an email address, in internet search results, in meta data or code, or in any other manner.

11.2. Unless otherwise indicated, all materials on the Site are used by TETHER GOLD under licence (“Copyrights”). You agree not to appropriate, copy, display, or use the Copyrights or other content without express, prior, written permission from TETHER GOLD or the applicable owner.

11.3. You may link to the Site’s homepage or other pages, provided you do so in a way that is fair and legal and does not damage TETHER GOLD’s reputation or take advantage of it, but you must not establish a link in such a way as to suggest any form of association, approval, or endorsement on TETHER GOLD’s part without prior, express, written consent.

11.4. The Site may provide certain social media features that enable you to link, send communications, or display certain content from the Site. You may use these features solely as they are provided by TETHER GOLD. You may not establish a link from any website that is not owned by you, cause the Site or portions of it to be displayed on or by any other site (for example, framing, deep linking, or in-line linking), or otherwise take any action with respect to the materials on the Site that is inconsistent with any other provision of these Terms.

11.5. You must not register, record, or otherwise control any domains, social media handles/profiles, Marks or other trademark or service mark registrations, trade names or any other intellectual property rights featuring intellectual property owned by TETHER GOLD or any Associate or its or their licensor(s) directly or through a third party (“Prohibited Assets”). If TETHER GOLD becomes aware that you own or control any Prohibited Assets, the Prohibited Asset(s) will be automatically transferred and assigned to TETHER GOLD, its nominated Associate or its licensor(s) under these Terms. You agree to execute all instruments and documents and do such additional acts as TETHER GOLD, its Associate(s) or its licensor(s) may deem necessary or desirable to record and perfect the assignment of rights under this paragraph 11.5. If TETHER GOLD, its Associate(s) or its licensor(s) are unable for any reason to secure your timely signature to any document it is entitled to under this paragraph 11.5 within fourteen days, you hereby irrevocably designate and appoint TETHER GOLD, its Associates and its licensor(s) and their duly authorised directors, officers and agents as your attorney-in-fact, with full power of substitution to act for and on your behalf and instead of you to execute and file any such document(s) and to do all other lawfully permitted acts to further the purposes of the foregoing with the same legal force and effect as if executed by you; and

11.6. The Site and Site Services are protected by copyright, trademark, trade secret and other intellectual property or proprietary rights Laws in various jurisdictions. All rights not expressly granted to you in these Terms are reserved by TETHER GOLD or its licensor(s). Except as expressly authorised by TETHER GOLD, you will not (i) license, sublicense, rent, sell, resell, transfer, assign, distribute, or otherwise commercially exploit or make available to any Person all or any part of the Site or Site Services in any way; (ii) copy, modify, republish, distribute, or make derivative works based upon all or any part of the Site or Site Services; (iii) “frame” or “mirror” all or any part of the Site or Site Services on any other server or wireless or internet-based device; or (iv) reverse engineer or access all or any part of the Site or its Site Services in order to (a) build a competitive product or service, (b) build a product or service using similar ideas, features, functions, or graphics of all or any part of the Site or Site Services, or (c) copy any ideas, features, functions, or graphics of all or any part of the Site or Site Services.

12. Your Representations and Warranties: You represent and warrant to TETHER GOLD on the date of your acceptance or deemed acceptance of these Terms and each day on which you utilise or access the Site Services, in each case with reference to the facts and circumstances existing at such date, as follows:

12.1. that, if you are an individual user, you are 18 years of age or older and that you have the capacity to contract under applicable Laws;

12.2. that, if you are registering to use or using the Site on behalf of a legal entity, (i) such legal entity is duly organised and validly existing under the applicable Laws of the jurisdiction of its organisation; and (ii) you, and any individuals utilizing the Site Services on behalf of the legal entity are duly authorised by such legal entity to act on its behalf;

12.3. that you understand the risks associated with using the Services, that you are not prohibited or restricted from accessing the Site or using the Site Services by paragraph 2 of these Terms, and that you are not otherwise prohibited by applicable Laws from using, or acting for the benefit of another Person that is prohibited or restricted from using, the Site and that you have had the opportunity to seek legal, accounting, taxation and other professional advice regarding these Terms and the Site Services;

12.4. that you will not use the Site or any Site Services in order to conceal or disguise the origin, ownership, control, or nature of proceeds of crime or terrorist financing or corruption related to any Person or Government Official under any applicable Laws, or property subject to Economic Sanctions, frozen assets, or to further, any breach of applicable Laws, including AML Laws or CTF Laws, or to deal in any unlawful Digital Tokens, Fiat, property, funds or proceeds;

12.5. that you will not trade or otherwise transact on the Site or use any Site Services with anything other than Fiat, funds or Digital Tokens that have been legally obtained by you, that belong to you, and that are free and clear of all liens, claims, and encumbrances;

12.6. that you are currently in compliance with, and must, at your own cost and expense, comply with all Laws that relate to or affect the Site Services conducted under these Terms, including AML Laws, CTF Laws, Anti-Corruption Laws, Economic Sanctions Laws, Tax Information Exchange Laws or other tax Laws;

12.7. that you consent to any and all tax and information reporting under AML Laws, CTF Laws, Anti-Corruption Laws, Economic Sanctions Laws, Tax Information Exchange Laws or other tax Laws as TETHER GOLD may reasonably determine;

12.8. that neither you nor any of your Affiliates shall use any Digital Tokens, Fiat, property, proceeds or funds subject to the Site Services directly or indirectly (i) on behalf of or for the benefit of a Prohibited Person or any Person subject to the jurisdiction of a Prohibited Jurisdiction, except where authorised under any Government Approval or not restricted by applicable Laws; (ii) in violation of or as prohibited, restricted, or penalised under applicable Economic Sanctions Laws; or (iii) in any way that would violate, be inconsistent with, penalised under, or cause the omission of filing of any report required under applicable AML Laws, CTF Laws, or Economic Sanctions Laws;

12.9. that you have not (i) violated; (ii) been fined, debarred, sanctioned, the subject of Economic Sanctions-related restrictions, or otherwise penalised under; (iii) received any oral or written notice from any Government concerning actual or possible violation by you under; or (iv) received any other report that you are the subject or target of sanctions, restrictions, penalties, or enforcement action or investigation under, any applicable Laws, including AML Laws, CTF Laws, Anti-Corruption Laws, or Economic Sanctions Laws;

12.10. that neither you nor any of your Affiliates is: (i) itself or owned (beneficially or of record) or controlled by a Sanctioned Person; (ii) involved in any transaction, transfer, or conduct, whether or not by using or receiving the Site Services or the Site, that is likely to result in you or your Affiliates or your or your Affiliate’s, shareholders, directors, officers, employees, agents, or partners becoming a Sanctioned Person; (iii) residing or domiciled in, or transferring Digital Tokens, Fiat, funds, or property to, from, or through any User Wallet, Digital Tokens Address or engaging in any transaction on the Site from a Prohibited Jurisdiction; (iv) a Government or Government Official of a Prohibited Jurisdiction or (v) otherwise a Prohibited Person;

12.11. that neither you nor any of your Affiliates or your or your Affiliate’s, shareholders, directors, officers, employees, agents, or partners has directly or indirectly offered, promised, given, or authorised any payment, or offered, promised, given, or authorised the giving of anything else of value, including any Digital Tokens or Fiat, to a Government Official or individual employed by another entity in the private sector in violation of any applicable Anti-Corruption Laws;

12.12. that you will not falsify any Site or Site Services registration or administration details provided to TETHER GOLD;

12.13. that you will not falsify or materially omit any information or provide misleading or inaccurate information requested by TETHER GOLD in the course of, directly or indirectly relating to, or arising from your activities on the Site or use of any Site Services, including at registration or during administration or other due diligence processes, and that if any information provided to TETHER GOLD becomes incorrect or outdated, including information relating to your ownership, you will promptly provide corrected information to TETHER GOLD;

12.14. that you shall employ reasonable anti-Virus, anti-malware and other software and techniques to protect you and your Gold Token Wallet from being the victim of a hack or of other malicious actions, so as to protect the integrity of your Gold Token Wallet and to keep such Gold Token Wallet and the access to the Site from your account out of the reach of other Persons;

12.15. that you shall not introduce or transmit any Virus into the Site or TETHER GOLD and its Affiliates’ computer systems;

12.16. that you acknowledge and agree that Fiat, Digital Tokens or other property reflected in your Gold Token Wallet are not segregated assets held in your name or for your benefit but reflected only in the books and records of TETHER GOLD;

12.17. that you acknowledge and agree that any instructions received or undertaken through the Site with your login credentials or from your authorised e-mail address on file with TETHER GOLD are deemed to be valid, binding, and conclusive regardless of whether there is any error resulting from an instruction made by you or on your behalf, any error resulting, directly or indirectly, from fraud or the duplication of any instruction made by you or on your behalf or the malfunction of any device or compromise of credentials used by you to deliver instructions, and that TETHER GOLD may act upon those instructions without any liability or responsibility attaching to it;

12.18. that you will fairly and promptly report all income associated with your activity on the Site pursuant to applicable Laws and pay any and all taxes thereon;

12.19. that you will determine whether taxes apply to any transactions you initiate or receive and, if so, to report and/or remit the correct tax to the appropriate tax authority;

12.20. that you are not subject to a User Insolvency Event, and have no reason to believe that you will be subject to a User Insolvency Event in the following six (6) months; and

12.21. that you will accurately and promptly inform TETHER GOLD if you know or have reason to know whether any of the foregoing representations or warranties no longer is correct or becomes incorrect.

13. No Representations and Warranties by TETHER GOLD: TETHER GOLD makes no representations, warranties, covenants or guarantees to you of any kind and, to the extent permitted by applicable Laws, TETHER GOLD expressly disclaims all representations, warranties, covenants or guarantees, express, implied or statutory, with respect to the Site and the Site Services. The Site and the Site Services are offered strictly on an as-is, where-is basis and, without limiting the generality of the foregoing, are offered without any representation as to merchantability or fitness for any particular purpose. TETHER GOLD does not guarantee the security or functionality of any third-party software or technology. TETHER GOLD may also provide access to features or services that are identified as “beta” or pre-release. Without limiting the preceding sentences in this paragraph 13, you understand that such services are still in development, may have bugs or errors, may be incomplete, may materially change prior to a full commercial launch, or may never be released commercially. You acknowledge that TETHER GOLD is relying upon your representations, warranties, acknowledgements, and agreements as a condition to providing the Site Services and recognizing any holding of Gold Tokens, and without your representations, warranties, acknowledgements, and agreements, TETHER GOLD would not provide you with any Site Services or recognise you as the holder of Gold Tokens.

14. Site Content. TETHER GOLD strives to provide accurate and reliable information on its Site. However, such information may not always be complete, correct or up-to-date. Without limitation, any relevant information document, whitepaper, reserves report, or similar documentation (an “Information Document”) required to be published by TETHER GOLD pursuant to applicable Laws only speaks as at the date of such Information Document. Expectations, projections and other forward-looking statements are not guarantees of future performance and actual results and future events could differ materially. Forward-looking statements are subject to risks including those described in the Gold Token Risk Disclosure Statement and unknown risks and uncertainties. TETHER GOLD undertakes no obligation to update or revise publicly any statements on the Site or any Information Document, except where required by applicable Law. The Site and the Information Document do not form part of, and are not incorporated by reference into, these Terms. In the event of any inconsistency between the Site or the Information Document and these Terms, these Terms shall prevail.

15. No Advice: TETHER GOLD does not provide any investment, portfolio management, legal, accounting, tax or other advice, or advice on trading techniques, models, algorithms, or any other schemes. All information provided in connection with your access and use of the Site Services is for informational purposes only and should not be construed as professional advice. You should not take, or refrain from taking any action based on any information contained on the Site or any other information that we make available at any time. Before you make any financial, legal, or other decisions involving the Site Services, you should seek independent professional advice from an individual who is licensed and qualified in the area for which such advice would be appropriate. These Terms are not intended to, and do not, create or impose any fiduciary duties on us. You further agree that the only duties and obligations that we owe you are those set out expressly in these Terms.

16. Limitation of Liability and Release: IMPORTANT: To the maximum extent permitted by applicable Law, you irrevocably agree and acknowledge that neither TETHER GOLD nor any Associate assumes any liability or responsibility for and neither TETHER GOLD nor any Associate shall have any liability or responsibility for any Losses directly or indirectly arising out of or related to:

16.1. any breach by you of these Terms;

16.2. the Site, and your use of it, except as explicitly provided for in these Terms;

16.3. the Site Services, and your use of any of them, except as explicitly provided for in these Terms;

16.4. any failure by you or any Affiliate to comply with applicable Laws;

16.5. any information or materials available through the Site, including any Information Document, whether originating from TETHER GOLD or any Associate or any other Person;

16.6. the real or perceived value of any Gold Tokens or other Digital Tokens traded or utilised on the Site, or the price of any Gold Token or other Digital Token displayed on the Site at any time;

16.7. any inaccurate, misleading, or incomplete statement by TETHER GOLD or any Associate or on the Site regarding your Gold Token Wallet or any other User Wallet, whether caused by TETHER GOLD’s negligence or otherwise;

16.8. any failure, delay, malfunction, interruption, or decision (including any decision by TETHER GOLD or any Associate to vary or interfere with your rights) by TETHER GOLD or any Associate in operating the Site or providing any Site Service;

16.9. any stolen, lost, or unauthorised use of your Gold Token Wallet information, any breach of security or data breach related to your User Wallet information, or any criminal or other third party act affecting TETHER GOLD or any Associate;

16.10. TETHER GOLD electing to support or not support a particular blockchain or protocol, any forked version of any particular blockchain or protocol or any Digital Tokens resulting from a fork of a blockchain or protocol;

16.11. your failure to effectuate the migration of your Gold Tokens to another blockchain or protocol identified by TETHER GOLD;

16.12. any offer, representation, suggestion, statement, or claim made about TETHER GOLD, the Site, or any Site Service by TETHER GOLD or any Associate;

16.13. any delay in transferring in or out, or loss of value of Gold Tokens resulting from failure or insolvency of any third party, or from the theft of such assets, or from freezes, seizures or other legal process asserted by a Government;

16.14. another Person using your Digital Tokens Address or your account on the Site, with or without your knowledge;

16.15. any claim that any Gold Tokens to which you claim legal or beneficial ownership are legally or beneficially owned by any Person other than you;

16.16. any third-party transactions, products or services, whether or not using the Site or any of the Site Services; and

16.17. any loss of value of Gold Tokens or loss of Gold Tokens due to the failure or malfunction of third-party software or technology.

You hereby agree to release TETHER GOLD and each Associate from liability for any and all such Losses, and you shall indemnify and save and hold TETHER GOLD and each Associate harmless from and against all such Losses. To the maximum extent permitted by applicable Law, the foregoing limitations of liability, releases and indemnities shall apply whether the alleged liability or Losses are based on contract, negligence, tort, unjust enrichment, strict liability, violation of Law or regulation, or any other basis, even if TETHER GOLD or the Associates have been advised of or should have known of the possibility of such Losses and damages, and without regard to the success or effectiveness of any other remedies. This release will not apply to claims of Gold Token holders for Losses caused by the Custodian. However, those claims and Losses are limited in the contract governing the Custodian’s custodial and other services for the Gold Reserves.

THERE IS NO GUARANTEE AGAINST LOSSES FROM USING THE SITE, THE SITE SERVICES, YOUR GOLD TOKENS OR A USER WALLET.

17. No Waiver; Available Remedies: Any failure by TETHER GOLD or any Associate to exercise any of its rights, powers, or remedies under these Terms, or any delay by TETHER GOLD or any Associate in doing so, does not constitute a waiver of any such right, power, or remedy. The single or partial exercise of any right, power, or remedy by TETHER GOLD or any Associate does not prevent any of them from exercising any other rights, powers, or remedies. The remedies of TETHER GOLD and each Associate are cumulative with and not exclusive of any other remedy conferred by the provisions of these Terms, or by Law or equity. You agree that the remedies to which TETHER GOLD and each Associate is entitled include (i) injunctions to prevent breaches of these Terms and to enforce specifically the terms and provisions hereof, and you waive the requirement of any posting of a bond in connection with such remedies; (ii) the right to recover the amount of any Losses by set off against any amounts that TETHER GOLD would otherwise be obligated to pay you; and (iii) the right to either freeze your Gold Tokens or seize and recover against any of your Gold Tokens, other Digital Tokens, Fiat or other funds, or your interests therein, that are held by TETHER GOLD or any Associates.

18. Force Majeure: TETHER GOLD is not responsible for damages caused by delay or failure to perform undertakings under these Terms when the delay or failure is due to fires; strikes; floods; bank failures; Digital Token market collapse or fluctuations; power outages or failures; acts of God or the state’s enemies; acts of any Government or Government Official; any and all market movements, shifts, or volatility; computer, server, or Internet malfunctions; internet disruptions, viruses, and mechanical power, or communications failures; security breaches or cyberattacks; criminal acts; delays or defaults caused by common carriers; acts or omissions of other Persons; or, any other delays, defaults, failures or interruptions that cannot reasonably be foreseen or provided against or that are otherwise outside TETHER GOLD’s control. In the event of force majeure, TETHER GOLD is excused from any and all performance obligations under these Terms.

19. Assignment; Third Party Rights: These Terms, the Incorporated Materials and any of the rights, duties, and obligations contained or incorporated herein or therein, are not assignable by you without prior written consent of TETHER GOLD. These Terms, the Incorporated Materials and any of the rights, duties, and obligations contained or incorporated herein or therein, are freely assignable by TETHER GOLD, in whole or in part, without notice or your consent (for clarity, this assignment right includes the right for TETHER GOLD to assign any claim, in whole or in part, arising hereunder). Any attempt by you to assign these Terms or any Incorporated Materials without written consent is void. Subject to the foregoing, these Terms and the Incorporated Materials, and any of the rights, duties, and obligations contained or incorporated herein or therein, shall be binding upon and inure to the benefit of the heirs, executors, administrators, personal or legal representatives, successors and assigns of you and of TETHER GOLD. None of the provisions of these Terms or any Incorporated Materials, or any of the rights, duties, and obligations contained or incorporated herein or therein, are for the benefit of or enforceable by any creditors of you or TETHER GOLD or any other persons, except such as inure to a successor or assign in accordance herewith and as provided in the following sentence. The Associates of TETHER GOLD are intended third party beneficiaries of the rights and privileges expressly stated to apply to the Associates hereunder and shall be entitled to enforce such rights and privileges (including those rights and privileges set out in paragraphs 8, 9, 10, 11, and 16) as if in direct privity under these Terms, subject to the conditions and limitations hereof including those relating to the resolution of disputes. No consent of any Person is required for any modification or amendment to these Terms.

20. Severability: If any provision of these Terms or part thereof, as amended from time to time, is determined to be invalid, void, or unenforceable, in whole or in part, by any court of competent jurisdiction, such invalidity, voidness, or unenforceability attaches only to such provision to the extent of its illegality, unenforceability, invalidity, or voidness, as may be, and everything else in these Terms continues in full force and effect.

21. Effect of Redemption. These Terms shall continue to apply notwithstanding the redemption of any Gold Token or the withdrawal of any Gold Token from a Gold Token Wallet.

22. Sharing of Personal Information: In providing the Services, TETHER GOLD or its Associates may be required to share your user information with other contractual third parties, including financial institutions, or as required under applicable Laws. Further, from time to time, TETHER GOLD and its Associates receive information requests from Governments, law enforcement agencies and courts around the world. In this context, TETHER GOLD or any Associate thereof might be ordered to share and/or will provide on a voluntary basis, if this appears reasonable and necessary, your Personal Information with/to law enforcement agencies, the Persons identified by a court and/or a Government. You hereby consent to the sharing of your Personal Information as further detailed in these Terms, the Privacy Statement and, where applicable, the Law Enforcement Requests Policy and grant full permission and authority for TETHER GOLD and its Associates to share this information with such contractual third parties, or as required under applicable Laws or demanded upon a lawful request by any Government, and release TETHER GOLD and each Associate from any liability, error, mistake, or negligence related thereto.

23. Electronic Communications and Acceptance: You agree and consent to receive electronically all communications, agreements, documents, receipts, notices and disclosures that TETHER GOLD may provide in connection with these Terms through publication on any part of the Site or to your authorised e-mail address on file with TETHER GOLD. Such notices shall be deemed effective and received by you on the date on which the notice is published on any part of the Site or on which the e-mail is sent to such authorised e-mail address. These Terms may be accepted electronically, and it is the intention of the Parties that such acceptance shall be deemed to be as valid as an original signature being applied to these Terms.