Common use of Authorization to Fund Cryptocurrency Transactions Clause in Contracts

Authorization to Fund Cryptocurrency Transactions. You understand and acknowledge that when you submit an Order to purchase cryptocurrency through the Platform, you are authorizing and instructing Zero Hash to instruct the institution with which you custody your fiat funds pursuant to your Cryptocurrency Platform Agreement (or in the case of Business, its banking partner) (“Custody Firm”) to transfer the funds required to fill the Order from your Business Account to Zero Hash. You understand and acknowledge that your Account is provided by Zero Hash and is separate from your Business Account. You further understand and acknowledge that neither Zero Hash nor ZHLS are under the control of Business or Custody Firm. You further understand and acknowledge that your Zero Hash Account is outside of Business’s possession and control, and that Business does not have the ability to monitor or recall the funds after such funds have been wired or transferred to Zero Hash. You further understand and acknowledge that, upon transfer from your Business Account or any other account where you hold fiat funds, the fiat funds will not be provided protection under the Securities Investor Protection Corporation (“SIPC”), nor will they be provided protection under the Federal Deposit Insurance Corporation (“FDIC”). Your cryptocurrency also is not protected under the SIPC or the FDIC. You understand and acknowledge that cryptocurrencies in your Zero Hash Account are not held at Business or Custody Firm and that Business and Custody Firm only take instructions regarding transferring funds as described in the mandatory Cryptocurrency Platform Agreement (if applicable).

Appears in 5 contracts

Samples: Services User Agreement, Services User Agreement, Services User Agreement

AutoNDA by SimpleDocs

Authorization to Fund Cryptocurrency Transactions. You understand and acknowledge that when you submit an Order (including by use of your DogeCard Debit Card) to (i) purchase cryptocurrency through the Platform, you are authorizing and instructing Zero Hash to instruct the institution with which you custody your fiat funds pursuant to your Cryptocurrency Platform Agreement (or in the case of Business, its banking partner) (“Custody Firm”) ), which may be the Issuer of your DogeCard Debit Card, to transfer the funds required to fill the Order from your Business Liquidity Financial Account to Zero Hash, and (ii) sell cryptocurrency through the Platform, you are authorizing and instructing Zero Hash to sell cryptocurrency in your Account and to remit funds from the sale to Custody Firm in accordance with Section 9 below. You understand and acknowledge that your Account is provided by Zero Hash and is separate from your Business Liquidity Financial Account. You further understand and acknowledge that neither Zero Hash nor ZHLS are under the control of Business Liquidity Financial or Custody Firm. You further understand and acknowledge that your Zero Hash Account is outside of BusinessLiquidity Financial’s or Custody Firm’s possession and control, and that Business Liquidity Financial does not have the ability to monitor or recall the funds after such funds have been wired or transferred to Zero Hash. You further understand and acknowledge that, upon transfer from your Business Liquidity Financial Account or any other account where you hold fiat funds, the fiat funds will not be provided protection under the Securities Investor Protection Corporation (“SIPC”), nor will they be provided protection under the Federal Deposit Insurance Corporation (“FDIC”). Your cryptocurrency also is not protected under the SIPC or the FDIC. You understand and acknowledge that cryptocurrencies in your Zero Hash Account are not held at Business Liquidity Financial or Custody Firm and that Business Liquidity Financial and Custody Firm only take instructions regarding transferring funds as described in the mandatory Cryptocurrency Platform Agreement (if applicable).

Appears in 1 contract

Samples: User Agreement

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.