Common use of Operation of Digital Asset Protocols Clause in Contracts

Operation of Digital Asset Protocols. (a) Custodian does not own or control the underlying software protocols which govern the operation of Digital Assets supported on the Custodian platform. By using the Custodial Services, Client acknowledges and agrees that (i) Custodian is not responsible for operation of the underlying protocols and that Custodian makes no guarantee of their functionality, security, or availability; and (ii) the underlying protocols are subject to sudden changes in operating rules (a.k.a. “forks”), and (iii) that such forks may materially affect the value, function, and/or even the name of the Digital Assets that Client stores in Client’s Custodial Account. In the event of a fork, Client agrees that Custodian may temporarily suspend Custodian operations with respect to the affected Digital Assets (with or without advance notice to Client) and that Custodian may, in its sole discretion, decide whether or not to support (or cease supporting) either branch of the forked protocol entirely. Client acknowledges and agrees that Cxxxxxxxx assumes absolutely no liability whatsoever in respect of an unsupported branch of a forked protocol or its determination whether or not to support a forked protocol.

Appears in 3 contracts

Samples: Bitgo Custodial Services Agreement (Valkyrie Bitcoin Fund), Bitgo Custodial Services Agreement (Valkyrie Bitcoin Fund), Bitgo Custodial Services Agreement (Tidal Commodities Trust I)

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Operation of Digital Asset Protocols. (aA) Custodian Trust Company does not own or control the underlying software protocols which govern the operation of Digital Assets supported on the Custodian Trust Company platform. By using the Custodial Services, Client acknowledges and agrees that (i) Custodian Trust Company is not responsible for operation of the underlying protocols and that Custodian Trust Company makes no guarantee of their functionality, security, or availability; and (ii) the underlying protocols are subject to sudden changes in operating rules (a.k.a. “forks”), and (iii) that such forks may materially affect the value, function, and/or even the name of the Digital Assets that Client stores in Client’s Custodial Account. In the event of a fork, Client agrees that Custodian Trust Company may temporarily suspend Custodian Trust Company operations with respect to the affected Digital Assets (with or without advance notice to Client) and that Custodian Trust Company may, in its sole discretion, decide whether or not to support (or cease supporting) either branch of the forked protocol entirely. Client acknowledges and agrees that Cxxxxxxxx Trust Company assumes absolutely no liability whatsoever in respect of an unsupported branch of a forked protocol or its determination whether or not to support a forked protocol.

Appears in 3 contracts

Samples: Bitgo Custodial Services Agreement (Akerna Corp.), Bitgo Custodial Services Agreement (INX LTD), Bitgo Custodial Services Agreement

Operation of Digital Asset Protocols. (a) Custodian a)Custodian does not own or control the underlying software protocols which govern the operation of Digital Assets supported on the Custodian platform. By using the Custodial Services, Client acknowledges and agrees that (i) Custodian is not responsible for operation of the underlying protocols and that Custodian makes no guarantee of their functionality, security, or availability; and (ii) the underlying protocols are subject to sudden changes in operating rules (a.k.a. “forks”), and (iii) that such forks may materially affect the value, function, and/or even the name of the Digital Assets that Client stores in Client’s Custodial Account. In the event of a fork, Client agrees that Custodian may temporarily suspend Custodian operations with respect to the affected Digital Assets (with or without advance notice to Client) and that Custodian may, in its sole discretion, decide whether or not to support (or cease supporting) either branch of the forked protocol entirely. Client acknowledges and agrees that Cxxxxxxxx Xxxxxxxxx assumes absolutely no liability whatsoever in respect of an unsupported branch of a forked protocol or its determination whether or not to support a forked protocol.

Appears in 1 contract

Samples: Bitgo Custodial Services Agreement (Robert Ventures Holdings LLC)

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Operation of Digital Asset Protocols. (aA) Custodian Trust Company does not own or control the underlying software protocols which govern the operation of Digital Assets supported on the Custodian Trust Company platform. By using the Custodial Services, Client acknowledges and agrees that (i) Custodian Trust Company is not responsible for operation of the underlying protocols and that Custodian Trust Company makes no guarantee of their functionality, security, or availability; and (ii) the underlying protocols are subject to sudden changes in operating rules (a.k.a. “forks”), and (iii) that t such forks may materially affect the value, function, and/or even the name of the Digital Assets that Client stores in Client’s Custodial Account. In the event of a fork, Client agrees that Custodian Company may temporarily suspend Custodian Trust Company operations with respect to the affected Digital Assets (with or without advance notice to Client) and that Custodian Trust Company may, in its sole discretion, decide whether or not to support (or cease supporting) either branch of the forked protocol entirely. Client acknowledges and agrees that Cxxxxxxxx Trust Company assumes absolutely no liability whatsoever in respect of an unsupported branch of a forked protocol or its determination whether or not to support a forked protocol.

Appears in 1 contract

Samples: Bitgo Custodial Services Agreement

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