Custodial Obligations Sample Clauses

Custodial Obligations. 7.1 The Client hereby understands that the Company will take all steps and exercise reasonable care to maintain the Client’s custody account and hold the Client’s Assets under custody. The Company agrees to exercise reasonable care and take commercially reasonable steps to perform its duties to the Client in accordance with the provisions of the Agreement or to exercise greater care as required by law or the Agreement. The Client agrees that the Company shall not be liable for any failure or delay in the performance by the Company’s service providers (including the Company’s banks, data centers or any other participants as permitted by the terms and conditions of the Agreement or as required by law) where the Company has actively procured the Company’s service providers to continue and complete their performance and where such failure or delay has been caused by the fault of the Client. Where the Company is indolent in the performance of its contractual obligations and collateral obligations hereunder or fails to promptly procure its service providers (including the Company’s banks, data centers or any other participants as permitted by the terms and conditions of the Agreement or as required by law) to continue and complete their performance in case of their failure or delay in doing so, causing the Client suffering from loss of the Assets under custody or other losses, the Company shall be liable to compensate the Client for the losses caused thereby. 7.2 The Client hereby agrees and understands that forks may result in the creation of fork networks and that the Company holds an equal amount of Digital Assets in connection with each fork network. The Client further agrees and understands that in respect of any such forks, the Company shall act in accordance with Article 9.2 hereof. 7.3 The Company agrees and understands that in the event of market disruption, the Company may, in its sole discretion, take one or more of the following actions: (i) suspend access to the custody services of Matrix; or (ii) prohibit the Client from completing any action through the custody services of Matrix. The Company shall not be liable for any damages suffered by the Client as a result of such actions. Upon the conclusion of such events and resumption of the availability of the custody services, the Client agrees and understands that the prevailing market price may be different from the market price prior to such events. 7.4 The Client further agrees and understands that...
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Custodial Obligations. You understand that we use Reasonable Care in connection with the maintenance of your Custody Account and the custody of your Assets. Notwithstanding the foregoing, no provision of this Custody Agreement shall require us to expend or risk our own funds, property, or otherwise incur any financial liability, in the performance of any of our duties hereunder.
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Related to Custodial Obligations

  • FINANCIAL OBLIGATIONS There will be no transfer of funds between the Parties under this Agreement and each Party will fund its own participation. All activities under or pursuant to this Agreement are subject to the availability of funds, and no provision of this Agreement shall be interpreted to require obligation or payment of funds in violation of the Anti-Deficiency Act, (31 U.S.C. § 1341).

  • Financial Obligation While this contract is in effect, the student is required to meet the financial obligations of this contract. Housing fees are charged through the Account Services Office. Students must pay their accounts per the policies of that office.

  • Payment of Financial Obligations The payment or provision to the Executive by the Company of any remuneration, benefits or other financial obligations pursuant to this Agreement shall be allocated among the Operating Partnership, the REIT and any subsidiary or affiliate thereof in such manner as such entities determine in order to reflect the services provided by the Executive to such entities; provided, however, that the Operating Partnership and the REIT shall be jointly and severally liable for such obligations.

  • General Servicing Obligations The Company shall sell any REO Property within two years after its acquisition by the REMIC unless (i) the Company applies for an extension of such two-year period from the Internal Revenue Service pursuant to the REMIC Provisions and Code Section 856(e)(3), in which event such REO Property shall be sold within the applicable extension period, or (ii) the Company obtains for the Purchaser an Opinion of Counsel, addressed to the Purchaser and the Company, to the effect that the holding by the REMIC of such REO Property subsequent to such two year period will not result in the imposition of taxes on "prohibited transactions" as defined in Section 860F of the Code or cause the REMIC to fail to qualify as a REMIC under the REMIC Provisions or comparable provisions of relevant state laws at any time. The Company shall manage, conserve, protect and operate each REO Property for the Purchaser solely for the purpose of its prompt disposition and sale in a manner which does not cause such REO Property to fail to qualify as "foreclosure property" within the meaning of Section 860G(a)(8) or result in the receipt by the REMIC of any "income from non-permitted assets" within the meaning of Section 860F(a)(2)(B) of the Code or any "net income from foreclosure property" which is subject to taxation under Section 860G(a)(1) of the Code. Pursuant to its efforts to sell such REO Property, the Company shall either itself or through an agent selected by the Company protect and conserve such REO Property in the same manner and to such extent as is customary in the locality where such REO Property is located and may, incident to its conservation and protection of the interests of the Purchaser, rent the same, or any part thereof, as the Company deems to be in the best interest of the Company and the Purchaser for the period prior to the sale of such REO Property; provided, however, that any rent received or accrued with respect to such REO Property qualifies as "rents from real property" as defined in Section 856(d) of the Code.