FX Conversion. Where costs are incurred in a currency other than your invoice base currency, or costs are based on a valuation of any of your securities in a currency other than your invoice base currency, Bank will perform a foreign exchange calculation to determine such costs payable by you. Such calculation will typically use the WM/Reuters spot rate (“Benchmark Rate”) for the relevant currency pair published at 4:00pm London time on the last business day of each calendar month for which you will be invoiced. However, the Benchmark Rate used in such calculation may change from time to time and Bank will notify you of such rate change.
Appears in 15 contracts
Samples: Fund Accounting Agreement (Jp Morgan Mutual Fund Investment Trust), Fund Accounting Agreement (Undiscovered Managers Funds), Fund Accounting Agreement (Jp Morgan Fleming Mutual Fund Group Inc)
