Common use of Authorized Participants Clause in Contracts

Authorized Participants. Subject to any legal and regulatory requirements, in order to support Client’s ordinary course of deposits and withdrawals, which involves, or will in the future involve, deposits from and withdrawals to Digital Asset accounts owned by a person that is an “Authorized Participant” of the Grayscale Investment Product within the meaning of an authorized participant agreement between such person and the Grayscale Investment Product (each a “Client Authorized Participant”), Trust Company will use commercially reasonable efforts to cooperate with Client to design and put in place via the Custodial Services a secure procedure to allow Client Authorized Participants to receive a Digital Asset address for deposits by such Client Authorized Participants, and to initiate withdrawals to Digital Asset addresses controlled by such Client Authorized Participants.

Authorized Participants. Subject to any legal and regulatory requirements, in order to support ClientCustomer’s ordinary course of deposits and withdrawals, which involves, or will in the future involve, deposits from and withdrawals of Assets owned by Customer to Digital Asset accounts owned by a person that is an “Authorized Participant” of the Grayscale Investment Product Customer, within the meaning of an authorized participant agreement between such person Authorized Participant and the Grayscale Investment Product Customer (each a an “Client Authorized Participant”), Trust Company Gemini will use commercially reasonable efforts to cooperate with Client Customer to design and put in place via the Custodial Services a secure procedure to allow Client such Authorized Participants to receive a Digital Asset address for deposits by such Client Authorized Participants, Participants and to initiate withdrawals to Digital Asset addresses controlled by such Client Authorized Participants, including to meet certain of Customer’s timing requirements for the creation and redemption of shares for its exchange traded product.