Deposit of Euro. (a) After the initial deposit of Euro in the Trust, the issuance and Delivery of Shares will take place only in integral numbers of Baskets and in compliance with the provisions of this Agreement, as supplemented by any procedures attached to an applicable Authorized Participant Agreement, to the extent those procedures are consistent with this Agreement. Authorized Participants wishing to acquire from the Trustee one or more Baskets must place an order with the Trustee (a “Purchase Order”). Purchase Orders received by the Trustee prior to the Order Cutoff Time on a New York Business Day will have that day as the Order Date. Purchase Orders received on a day that is not a New York Business Day or received after the Order Cutoff Time on a New York Business Day will have the next following New York Business Day as the Order Date. The “Settlement Date” for a Purchase Order shall be the third New York Business Day following the Order Date unless that day is not a London Business Day, in which case the Settlement Date shall be the next following day that is both a New York Business Day and a London Business Day. As consideration for each Basket acquired, Authorized Participants must deposit with the Depository the Basket Euro Amount determined by the Trustee on the Business Day prior to the Settlement Date for the corresponding Purchase Order. The Basket Euro Amount shall be deposited in the Interest Account; provided, however, that the Trustee shall withdraw from the Interest Account and deposit in the Non-Interest Account an amount which represents a pro rata share of accrued but unpaid interest pursuant to Section 6.5.
Deposit of Euro. (a) After the initial deposit of Euro in the Trust, the issuance and Delivery of Shares will take place only in integral numbers of Baskets and in compliance with the provisions of this Agreement, as supplemented by any procedures attached to an applicable Authorized Participant Agreement, to the extent those procedures are consistent with this Agreement. Authorized Participants wishing to acquire from the Trustee one or more Baskets must place an order with the Trustee (a "Purchase Order") no later than 4:00 p.m. (New York time) on any Business Day. Purchase Orders received by the Trustee prior to the Order Cutoff Time on a Business Day on which a Relevant Price is announced will have that Business Day as the Order Date. Purchase Orders received by the Trustee on or after the Order Cutoff Time on a Business Day, or on a Business Day on which the Federal Reserve Bank of New York does not announce a Relevant Price, will have as their Order Date the next Business Day on which the Federal Reserve Bank of New York announces a Relevant Price. As consideration for each Basket acquired, Authorized Participants must deposit with the Depository, for credit to the Depository Account, the Basket Euro Amount determined by the Trustee on the Order Date of the corresponding Purchase Order. Euro must be Delivered to the Depository.
Deposit of Euro. (a) After the initial deposit of Euro in the Trust, the issuance and Delivery of Shares will take place only in integral numbers of Baskets and in compliance with the provisions of this Agreement, as supplemented by any procedures attached to an applicable Authorized Participant Agreement, to the extent those procedures are consistent with this Agreement. Authorized Participants wishing to acquire from the Trustee one or more Baskets must place an order with the Trustee (a "Purchase Order"). Purchase Orders received by the Trustee prior to the Order Cutoff Time on a New York Business Day will have that day as the Order Date. Purchase Orders received on a day that is not a New York Business Day or received after the Order Cutoff Time on a New York Business Day will have the next following New York Business Day as the Order Date. The "Settlement Date" for a Purchase Order shall occur on the earliest date that is no less than the third New York Business Day and the third London Business Day following the Order Date. As consideration for each Basket acquired, Authorized Participants must deposit with the Depository, for credit to the Deposit Account, the Basket Euro Amount determined by the Trustee on the Business Day prior to the Settlement Date for the corresponding Purchase Order. Euro must be Delivered to the Depository.
