On book currency definition
On book currency means (a) U.S. dollars or (b) a foreign currency that, when credited to a deposit account of a customer maintained in the banking department of the Custodian or an Eligible Foreign Custodian, the Custodian maintains on its books as an amount owing as a liability by the Custodian to the customer.
On book currency means a currency held by the Custodian on its balance sheet.
On book currency means (a) U.S. dollars or (b) a foreign currency that, when credited to a deposit account of a customer maintained in the banking department of the Custodian or an Eligible Foreign Custodian, the Custodian maintains on its books as an amount owing as a liability by the Custodian to the customer. The Custodian agrees to treat the claim to the cash as a financial asset for the benefit of the Portfolio. The Custodian does not otherwise agree to treat cash as financial asset. The duties of the Custodian as securities intermediary and bank set forth in the Uniform Commercial Code of the Commonwealth of Massachusetts as in effect from time to time (the “UCC”) are varied by the terms of this Agreement to the extent that the duties may be varied by agreement under the UCC.
Examples of On book currency in a sentence
For the avoidance of doubt, this Section 7(c) shall apply to On-Book Currency only.
Intra-day cash receipts, holdings and disbursements of any Portfolio denominated in currencies other than United States dollars that are in any On-Book Currency will be held by the Custodian on the balance sheet of its London Branch.
For the avoidance of doubt, this Section 11(b) shall apply to On-Book Currency only.
Further, with respect to On-Book Currency consisting of non-United States dollars that remain in the Fund at the end of each business day, the Fund hereby directs that such currency shall be invested in an interest-bearing deposit account at the Custodian’s London Branch unless the Custodian receives other written instructions from the Fund.