Common use of Control by Coinbase Custody Clause in Contracts

Control by Coinbase Custody. For purposes of perfecting Lender’s security interest in the Collateral, Coinbase Custody holds Collateral as agent for Lender, and has control over Collateral for the benefit and on behalf of Lender. Upon a Termination for Xxxxx, Borrower hereby authorizes Coinbase Custody, as securities intermediary with respect to the Custodial Account, to comply with all instructions and entitlement orders from Xxxxxx, as secured party, with respect to the disposition of the Collateral as contemplated in the Coinbase Prime Broker Agreement without further consent or direction from Borrower or any third-party.