Common use of DEFINITION Clause in Contracts

DEFINITION. The terms stated below have definitions and meanings as follows, unless the context dictates the otherwise: 1. Pegadaian Gold Savings Passbook hereinafter referred to as Gold Savings Passbook is a customer’s prove of ownership for the gold stored at Pegadaian that contains of transaction records from Gold Savings account number. 2. Gold Dashboard is a feature on M2U ID App (mobile banking) where customer can view gold holding balance, gold account details, and make transactions such as purchase, sell, and print Pegadaian Gold Savings. 3. Gold is pure gold bars (in this case, a precious metal) with purity of 24 karats. 4. Calendar Day, is every Monday to Sunday in the AD Year, including public holidays according to Government of Indonesia. 5. Working Day, is the day where the Bank conducts clearing transactions nationwide. 6. Public Holiday, is the public holidays according to the Government of Indonesia. 7. Purchase Price per Gram, is the purchase price per gram of Gold Savings based on the gold price that will be updated every calendar day after 02.00 WIB. The purchase price of Gold Savings will be updated regularly outside of that time based on the most recent information from Gallery 24 via Pegadaian. 8. Selling Price per Gram, is the selling price per gram of Gold Savings based on the gold price that will be updated every calendar day after 02.00 WIB. The selling price of Gold Savings will be updated regularly outside of that time based on the most recent information from Gallery 24 via Pegadaian. 9. Gold Holding is the amount of gram/value of Gold Savings owned by the Customer.