Trust (NASDAQ:MITT) Files An 8-K Entry into a Material Definitive Agreement

Trust (NASDAQ:MITT) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement

iShares Silver Trust (the Registrant) issues and redeems units of
beneficial interest (or Shares) representing fractional undivided
beneficial interests in its net assets only in exchange for
silver, only in aggregations of 50,000 Shares or integral
multiples thereof (each, a Basket), and only in transactions with
registered broker-dealers that have previously entered into an
agreement with the Registrant governing the terms and conditions
of such issuance (such broker-dealers, the Authorized
Participants). The Trust is administered by The Bank of New York
Mellon (the Trustee) and JPMorgan Chase Bank N.A., London branch
(the Custodian) is responsible for the safekeeping of silver
owned by the Registrant.

The Registrant entered into the following amendments and
restatements of its operating agreements to make certain
operational updates to the agreements, including most
significantly to allow Authorized Participants to order, or
surrender for redemption, Baskets using the electronic order
system of the Trustee:

Second Amended and Restated Depositary Trust Agreement, dated as of December 22, 2016, by and between iShares Delaware Trust Sponsor LLC and The Bank of New York Mellon (the Trust Agreement);

Standard Terms for Authorized Participant Agreements, dated as of December 22, 2016, by and between iShares Delaware Trust Sponsor LLC and The Bank of New York Mellon (the Standard Terms for Authorized Participant Agreements); and

First Amended and Restated Custodian Agreement, dated as of December 22, 2016, by and between The Bank of New York Mellon and JPMorgan Chase Bank N.A., London branch (the Custodian Agreement, together with the Trust Agreement and the Standard Terms for Authorized Participant Agreements, the Agreements).

The Registrant’s affiliates have engaged in, and may in the
future engage in, various commercial dealings in the ordinary
course of business with the parties to the Agreements. Such
parties have received, or may in the future receive, customary
fees and commissions for these transactions.

The foregoing description of the amendments to the Agreements
does not purport to be complete and is qualified in its entirety
by reference to the full text of the Agreements, which have been
filed with this Current Report on Form 8-K as Exhibit 4.1,
Exhibit 4.2 and Exhibit 10.1.

Item 3.03. Material Modification to the Rights of
Security Holders

The information set forth in Item1.01 relating to the Trust
Agreement is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

Exhibit 4.1

Second Amended and Restated Depositary Trust Agreement, dated as of December 22, 2016, by and between iShares Delaware Trust Sponsor LLC and The Bank of New York Mellon.

Exhibit 4.2

Standard Terms for Authorized Participant Agreements, dated as of December 22, 2016, by and between iShares Delaware Trust Sponsor LLC and The Bank of New York Mellon.

Exhibit 10.1

First Amended and Restated Custodian Agreement, dated as of December 22, 2016, by and between The Bank of New York Mellon and JPMorgan Chase Bank N.A., London branch.

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